Optas LLC Acquires New Stake in Crown Holdings, Inc. $CCK

Optas LLC acquired a new stake in shares of Crown Holdings, Inc. (NYSE:CCK) in the second quarter, according to the company in its most recent disclosure with the SEC. The firm acquired 2,026 shares of the industrial products company’s stock, valued at approximately $209,000.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Northern Trust Corp increased its position in Crown by 13.7% during the 1st quarter. Northern Trust Corp now owns 1,242,250 shares of the industrial products company’s stock valued at $110,883,000 after buying an additional 149,339 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. increased its position in Crown by 155.4% during the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,793 shares of the industrial products company’s stock valued at $158,000 after buying an additional 1,091 shares in the last quarter. GAMMA Investing LLC increased its position in Crown by 110.3% during the 1st quarter. GAMMA Investing LLC now owns 1,201 shares of the industrial products company’s stock valued at $107,000 after buying an additional 630 shares in the last quarter. Inspire Investing LLC bought a new stake in shares of Crown in the 1st quarter worth $762,000. Finally, Envestnet Portfolio Solutions Inc. bought a new stake in shares of Crown in the 1st quarter worth $820,000. Institutional investors own 90.93% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have commented on the company. Wells Fargo & Company lifted their target price on Crown from $101.00 to $110.00 and gave the stock an “equal weight” rating in a report on Friday, July 18th. Citigroup reduced their target price on Crown from $135.00 to $124.00 and set a “buy” rating for the company in a report on Monday, September 29th. JPMorgan Chase & Co. lifted their target price on Crown from $108.00 to $112.00 and gave the stock an “overweight” rating in a report on Wednesday, July 23rd. Truist Financial raised Crown from a “hold” rating to a “buy” rating and set a $118.00 target price for the company in a report on Friday, September 5th. Finally, Morgan Stanley lifted their target price on Crown from $114.00 to $118.00 and gave the stock an “overweight” rating in a report on Wednesday, June 25th. Eleven research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $118.25.

Crown Stock Performance

Shares of CCK opened at $90.83 on Friday. The company has a debt-to-equity ratio of 1.67, a current ratio of 1.06 and a quick ratio of 0.69. Crown Holdings, Inc. has a one year low of $75.98 and a one year high of $109.48. The firm has a market capitalization of $10.57 billion, a P/E ratio of 19.08, a PEG ratio of 1.40 and a beta of 0.73. The business has a fifty day moving average of $97.16 and a 200 day moving average of $97.15.

Crown (NYSE:CCK) last issued its quarterly earnings data on Monday, July 21st. The industrial products company reported $2.15 EPS for the quarter, topping the consensus estimate of $1.86 by $0.29. Crown had a return on equity of 27.15% and a net margin of 4.64%.The company had revenue of $3.15 billion during the quarter, compared to analyst estimates of $3.10 billion. During the same quarter in the previous year, the company posted $1.81 earnings per share. Crown’s revenue was up 3.6% compared to the same quarter last year. Crown has set its FY 2025 guidance at 7.100-7.500 EPS. Q3 2025 guidance at 1.950-2.050 EPS. As a group, sell-side analysts anticipate that Crown Holdings, Inc. will post 6.96 EPS for the current year.

Crown Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, August 21st. Investors of record on Thursday, August 7th were given a dividend of $0.26 per share. The ex-dividend date was Thursday, August 7th. This represents a $1.04 annualized dividend and a yield of 1.1%. Crown’s payout ratio is 21.85%.

Insider Buying and Selling at Crown

In related news, CAO Gerard H. Gifford sold 8,222 shares of Crown stock in a transaction on Friday, July 25th. The stock was sold at an average price of $102.93, for a total transaction of $846,290.46. Following the transaction, the chief accounting officer directly owned 122,585 shares in the company, valued at approximately $12,617,674.05. The trade was a 6.29% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Timothy J. Donahue sold 37,000 shares of Crown stock in a transaction on Wednesday, August 20th. The shares were sold at an average price of $100.56, for a total value of $3,720,720.00. Following the transaction, the chief executive officer owned 462,056 shares in the company, valued at $46,464,351.36. This trade represents a 7.41% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 58,222 shares of company stock worth $5,873,770 over the last quarter. 0.90% of the stock is owned by company insiders.

Crown Company Profile

Crown Holdings, Inc, together with its subsidiaries, engages in the packaging business in the United States and internationally. It operates through Americas Beverage, European Beverage, Asia Pacific, and Transit Packaging segments. The company manufactures and sells recyclable aluminum beverage cans and ends, glass bottles, steel crowns, aluminum caps, non-beverage cans, and aerosol cans and closures.