Squarepoint Ops LLC lowered its holdings in Crown Holdings, Inc. (NYSE:CCK – Free Report) by 52.8% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 108,032 shares of the industrial products company’s stock after selling 120,806 shares during the quarter. Squarepoint Ops LLC’s holdings in Crown were worth $12,080,000 as of its most recent filing with the SEC.
A number of other hedge funds and other institutional investors also recently made changes to their positions in CCK. Louisiana State Employees Retirement System acquired a new stake in shares of Crown in the first quarter valued at approximately $3,258,000. Fideuram Intesa Sanpaolo Private Banking S.P.A. bought a new position in Crown in the 4th quarter worth approximately $3,855,000. World Investment Advisors acquired a new position in Crown during the 4th quarter worth $1,188,000. Eurizon Capital SGR S.p.A. acquired a new position in Crown during the 4th quarter worth $24,707,000. Finally, Natixis Advisors LLC boosted its position in Crown by 51.3% in the 4th quarter. Natixis Advisors LLC now owns 251,044 shares of the industrial products company’s stock valued at $25,850,000 after buying an additional 85,156 shares during the last quarter. 90.93% of the stock is currently owned by institutional investors and hedge funds.
Crown Price Performance
Shares of CCK stock opened at $111.66 on Thursday. The company has a quick ratio of 0.65, a current ratio of 1.05 and a debt-to-equity ratio of 1.63. Crown Holdings, Inc. has a 12-month low of $89.21 and a 12-month high of $122.91. The firm has a fifty day moving average of $116.64 and a 200-day moving average of $107.73. The firm has a market capitalization of $12.14 billion, a price-to-earnings ratio of 16.07, a price-to-earnings-growth ratio of 1.59 and a beta of 0.58.
Crown Announces Dividend
The firm also recently disclosed a quarterly dividend, which was paid on Thursday, August 20th. Stockholders of record on Thursday, August 6th were issued a dividend of $0.35 per share. This represents a $1.40 annualized dividend and a dividend yield of 1.3%. The ex-dividend date was Thursday, August 6th. Crown’s payout ratio is 20.14%.
Insider Buying and Selling at Crown
In related news, CEO Timothy Donahue sold 15,000 shares of the business’s stock in a transaction that occurred on Tuesday, June 23rd. The stock was sold at an average price of $105.00, for a total value of $1,575,000.00. Following the completion of the transaction, the chief executive officer directly owned 436,070 shares in the company, valued at approximately $45,787,350. The trade was a 3.33% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 0.90% of the stock is owned by company insiders.
Analysts Set New Price Targets
A number of equities research analysts have recently weighed in on the company. Truist Financial restated a “buy” rating and set a $141.00 target price (up from $129.00) on shares of Crown in a research report on Wednesday, July 22nd. Bank of America boosted their price objective on Crown from $129.00 to $145.00 and gave the stock a “buy” rating in a report on Tuesday, July 14th. Mizuho raised their target price on shares of Crown from $130.00 to $135.00 and gave the company an “outperform” rating in a research note on Tuesday, July 21st. Citigroup reiterated a “buy” rating on shares of Crown in a research report on Thursday, July 23rd. Finally, JPMorgan Chase & Co. downgraded shares of Crown from an “overweight” rating to a “neutral” rating and boosted their price target for the stock from $107.00 to $121.00 in a research note on Wednesday, July 22nd. Eleven research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the stock. According to MarketBeat, Crown presently has a consensus rating of “Moderate Buy” and a consensus price target of $128.20.
Check Out Our Latest Report on CCK
Crown Company Profile
Crown Holdings, Inc is a leading global supplier of rigid packaging products for consumer goods markets. The company designs, manufactures and sells metal packaging for beverage, food, household, personal care and specialty products. Its portfolio includes aluminum and steel beverage cans, steel food cans, aluminum aerosols, metal closures and ends, offering customers end-to-end solutions from design and prototyping to large-scale production.
Founded in 1919 as the Crown Cork & Seal Company, Crown has grown through strategic acquisitions and investments in advanced manufacturing technologies.
Featured Stories
- Five stocks we like better than Crown
- Qualcomm’s Data Center Bet Looks More Real After Amazon’s AI Deal
- GE Aerospace’s $11.75B Deal Puts Howmet Aerospace in Focus
- Casey’s Post-Earnings Drop May Give Investors a Better Entry Into a Quality Retailer
- Sovereign AI: Palantir and Nebius Cut the Cloud Cord
Want to see what other hedge funds are holding CCK? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Crown Holdings, Inc. (NYSE:CCK – Free Report).
Receive News & Ratings for Crown Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Crown and related companies with MarketBeat.com's FREE daily email newsletter.
