Summit Investment Advisors Inc. Sells 641 Shares of Crown Holdings, Inc. $CCK

Summit Investment Advisors Inc. trimmed its position in shares of Crown Holdings, Inc. (NYSE:CCK) by 2.7% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 23,032 shares of the industrial products company’s stock after selling 641 shares during the period. Summit Investment Advisors Inc.’s holdings in Crown were worth $2,056,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also recently bought and sold shares of the company. Vestmark Advisory Solutions Inc. raised its stake in shares of Crown by 130.4% during the second quarter. Vestmark Advisory Solutions Inc. now owns 7,600 shares of the industrial products company’s stock valued at $783,000 after acquiring an additional 4,302 shares during the last quarter. Savant Capital LLC boosted its stake in shares of Crown by 46.7% in the 2nd quarter. Savant Capital LLC now owns 24,527 shares of the industrial products company’s stock valued at $2,526,000 after purchasing an additional 7,810 shares during the last quarter. Achmea Investment Management B.V. increased its position in shares of Crown by 26.4% during the second quarter. Achmea Investment Management B.V. now owns 156,933 shares of the industrial products company’s stock worth $16,160,000 after buying an additional 32,811 shares during the period. Andra AP fonden raised its stake in Crown by 52.6% during the second quarter. Andra AP fonden now owns 20,900 shares of the industrial products company’s stock worth $2,152,000 after buying an additional 7,200 shares during the last quarter. Finally, Resona Asset Management Co. Ltd. lifted its holdings in Crown by 1.7% in the second quarter. Resona Asset Management Co. Ltd. now owns 36,232 shares of the industrial products company’s stock valued at $3,734,000 after buying an additional 611 shares during the period. 90.93% of the stock is owned by institutional investors.

Insider Activity

In other news, CEO Timothy J. Donahue sold 37,000 shares of the 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 completion of the sale, the chief executive officer directly owned 462,056 shares of the company’s stock, valued at $46,464,351.36. This represents a 7.41% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Company insiders own 0.90% of the company’s stock.

Crown Stock Performance

Shares of NYSE CCK opened at $97.85 on Monday. The firm’s 50-day moving average price is $95.44 and its 200-day moving average price is $98.91. The company has a market cap of $11.29 billion, a PE ratio of 12.11, a PEG ratio of 1.30 and a beta of 0.78. The company has a quick ratio of 0.69, a current ratio of 1.06 and a debt-to-equity ratio of 1.67. Crown Holdings, Inc. has a 52-week low of $75.98 and a 52-week high of $109.48.

Crown (NYSE:CCK) last posted its quarterly earnings data on Monday, October 20th. The industrial products company reported $2.24 EPS for the quarter, beating analysts’ consensus estimates of $1.98 by $0.26. The company had revenue of $3.20 billion during the quarter, compared to analysts’ expectations of $3.13 billion. Crown had a return on equity of 27.35% and a net margin of 7.79%.Crown’s revenue for the quarter was up 4.2% compared to the same quarter last year. During the same quarter in the prior year, the business earned $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. As a group, analysts anticipate that Crown Holdings, Inc. will post 6.96 EPS for the current year.

Crown Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, November 20th. Stockholders of record on Thursday, November 6th will be given a dividend of $0.26 per share. This represents a $1.04 dividend on an annualized basis and a dividend yield of 1.1%. The ex-dividend date of this dividend is Thursday, November 6th. Crown’s payout ratio is presently 12.87%.

Analysts Set New Price Targets

Several brokerages have recently commented on CCK. Mizuho raised their target price on Crown from $116.00 to $120.00 and gave the company an “outperform” rating in a research note on Tuesday, October 21st. Baird R W lowered shares of Crown from a “strong-buy” rating to a “hold” rating in a research note on Thursday, July 17th. Wall Street Zen raised shares of Crown from a “hold” rating to a “buy” rating in a research report on Sunday, October 26th. UBS Group reiterated a “buy” rating and set a $117.00 price target on shares of Crown in a report on Tuesday, October 21st. Finally, JPMorgan Chase & Co. lifted their price target on shares of Crown from $108.00 to $112.00 and gave the stock an “overweight” rating in a report on Wednesday, July 23rd. Twelve investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $118.08.

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.