Renaissance Group LLC Raises Stock Position in Crown Holdings, Inc. $CCK

Renaissance Group LLC boosted its holdings in shares of Crown Holdings, Inc. (NYSE:CCK) by 44.1% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 9,678 shares of the industrial products company’s stock after purchasing an additional 2,962 shares during the period. Renaissance Group LLC’s holdings in Crown were worth $997,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Invesco Ltd. boosted its stake in shares of Crown by 412.2% in the first quarter. Invesco Ltd. now owns 1,719,296 shares of the industrial products company’s stock worth $153,464,000 after buying an additional 1,383,624 shares during the last quarter. Swedbank AB lifted its holdings in Crown by 114.7% in the first quarter. Swedbank AB now owns 1,476,566 shares of the industrial products company’s stock valued at $131,798,000 after acquiring an additional 788,818 shares during the period. Nuveen LLC purchased a new stake in Crown in the 1st quarter worth approximately $41,360,000. Assenagon Asset Management S.A. grew its stake in shares of Crown by 4,180.3% during the 2nd quarter. Assenagon Asset Management S.A. now owns 307,710 shares of the industrial products company’s stock worth $31,688,000 after purchasing an additional 300,521 shares during the period. Finally, Allianz Asset Management GmbH increased its holdings in shares of Crown by 1,719.4% during the 2nd quarter. Allianz Asset Management GmbH now owns 295,380 shares of the industrial products company’s stock valued at $30,418,000 after purchasing an additional 279,145 shares in the last quarter. 90.93% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several analysts recently commented on the stock. Truist Financial restated a “buy” rating and set a $126.00 price target (up previously from $118.00) on shares of Crown in a research report on Wednesday, October 22nd. JPMorgan Chase & Co. raised their target price on Crown from $108.00 to $112.00 and gave the company an “overweight” rating in a research report on Wednesday, July 23rd. Wall Street Zen raised Crown from a “hold” rating to a “buy” rating in a report on Sunday, October 26th. Raymond James Financial reiterated an “outperform” rating and set a $115.00 price target (up previously from $110.00) on shares of Crown in a research report on Wednesday, October 22nd. Finally, Loop Capital boosted their price objective on Crown from $129.00 to $140.00 and gave the company a “buy” rating in a research report on Wednesday, July 23rd. Twelve analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. Based on data from MarketBeat, Crown has an average rating of “Moderate Buy” and an average target price of $118.08.

Crown Trading Down 0.3%

CCK stock opened at $94.87 on Thursday. Crown Holdings, Inc. has a 12-month low of $75.98 and a 12-month high of $109.48. The business’s 50-day moving average is $95.86 and its 200 day moving average is $99.10. The company has a current ratio of 1.06, a quick ratio of 0.69 and a debt-to-equity ratio of 1.67. The stock has a market cap of $10.94 billion, a price-to-earnings ratio of 11.74, a PEG ratio of 1.30 and a beta of 0.78.

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

Crown Dividend Announcement

The firm 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 dividend of $0.26 per share. This represents a $1.04 annualized dividend and a yield of 1.1%. The ex-dividend date of this dividend is Thursday, November 6th. Crown’s payout ratio is 12.87%.

Crown 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.