Forsta AP Fonden Trims Stock Holdings in Crown Holdings, Inc. $CCK

Forsta AP Fonden decreased its holdings in shares of Crown Holdings, Inc. (NYSE:CCK) by 2.6% during the second quarter, HoldingsChannel reports. The fund owned 75,000 shares of the industrial products company’s stock after selling 2,000 shares during the quarter. Forsta AP Fonden’s holdings in Crown were worth $7,724,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds also recently made changes to their positions in the company. Envestnet Asset Management Inc. raised its stake in shares of Crown by 181.1% during the 1st quarter. Envestnet Asset Management Inc. now owns 213,565 shares of the industrial products company’s stock valued at $19,063,000 after purchasing an additional 137,603 shares during the period. Nisa Investment Advisors LLC increased its position in shares of Crown by 4.2% during the first quarter. Nisa Investment Advisors LLC now owns 2,858 shares of the industrial products company’s stock valued at $256,000 after buying an additional 115 shares during the period. Cerity Partners LLC lifted its holdings in shares of Crown by 21.7% in the first quarter. Cerity Partners LLC now owns 26,821 shares of the industrial products company’s stock worth $2,394,000 after buying an additional 4,790 shares in the last quarter. New York State Common Retirement Fund boosted its position in shares of Crown by 4.7% in the first quarter. New York State Common Retirement Fund now owns 56,203 shares of the industrial products company’s stock valued at $5,017,000 after acquiring an additional 2,500 shares during the period. Finally, CWM LLC boosted its position in shares of Crown by 19.5% in the first quarter. CWM LLC now owns 15,297 shares of the industrial products company’s stock valued at $1,365,000 after acquiring an additional 2,495 shares during the period. 90.93% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other Crown news, CEO Timothy J. Donahue sold 37,000 shares of the stock in a transaction that occurred on Wednesday, August 20th. The shares were sold at an average price of $100.56, for a total transaction of $3,720,720.00. Following the transaction, the chief executive officer directly 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.90% of the stock is owned by insiders.

Wall Street Analyst Weigh In

Several analysts have issued reports on CCK shares. UBS Group reiterated a “buy” rating and issued a $117.00 target price on shares of Crown in a research note on Tuesday, October 21st. Citigroup lowered their price objective on Crown from $135.00 to $124.00 and set a “buy” rating on the stock in a research report on Monday, September 29th. Wall Street Zen raised Crown from a “hold” rating to a “buy” rating in a research note on Sunday, October 26th. Truist Financial restated a “buy” rating and issued a $126.00 target price (up from $118.00) on shares of Crown in a research note on Wednesday, October 22nd. Finally, Loop Capital raised their price target on Crown from $129.00 to $140.00 and gave the company a “buy” rating in a report on Wednesday, July 23rd. Twelve investment analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $118.08.

Crown Stock Up 2.2%

Shares of NYSE:CCK opened at $100.87 on Friday. The firm has a market capitalization of $11.64 billion, a PE ratio of 12.48, a price-to-earnings-growth ratio of 1.30 and a beta of 0.78. The company has a debt-to-equity ratio of 1.67, a quick ratio of 0.69 and a current ratio of 1.06. Crown Holdings, Inc. has a 52-week low of $75.98 and a 52-week high of $109.48. The firm has a fifty day moving average of $95.76 and a 200 day moving average of $99.06.

Crown (NYSE:CCK) last issued its quarterly earnings results on Monday, October 20th. The industrial products company reported $2.24 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.98 by $0.26. Crown had a return on equity of 27.35% and a net margin of 7.79%.The firm had revenue of $3.20 billion during the quarter, compared to analyst estimates of $3.13 billion. During the same quarter in the previous year, the company posted $1.99 earnings per share. The company’s revenue was up 4.2% compared to the same quarter last year. Crown has set its Q4 2025 guidance at 1.650-1.75 EPS. FY 2025 guidance at 7.700-7.80 EPS. As a group, research analysts anticipate that Crown Holdings, Inc. will post 6.96 EPS for the current fiscal year.

Crown Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, November 20th. Shareholders of record on Thursday, November 6th will be paid a $0.26 dividend. The ex-dividend date of this dividend is Thursday, November 6th. This represents a $1.04 annualized dividend and a yield of 1.0%. Crown’s dividend payout ratio is currently 12.87%.

About Crown

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.