Thrivent Financial for Lutherans Raises Stake in Crown Holdings, Inc. $CCK

Thrivent Financial for Lutherans increased its stake in shares of Crown Holdings, Inc. (NYSE:CCK) by 84.2% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 835,374 shares of the industrial products company’s stock after buying an additional 381,766 shares during the period. Thrivent Financial for Lutherans owned about 0.72% of Crown worth $80,689,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Hennessy Advisors Inc. acquired a new position in shares of Crown during the 3rd quarter valued at about $43,417,000. CWM LLC increased its holdings in shares of Crown by 73.3% during the 3rd quarter. CWM LLC now owns 72,075 shares of the industrial products company’s stock worth $6,962,000 after buying an additional 30,488 shares during the last quarter. AEGON ASSET MANAGEMENT UK Plc acquired a new position in Crown in the third quarter valued at $15,472,000. Vinva Investment Management Ltd increased its stake in Crown by 152.9% during the second quarter. Vinva Investment Management Ltd now owns 194,348 shares of the industrial products company’s stock worth $20,393,000 after acquiring an additional 117,494 shares during the last quarter. Finally, Belpointe Asset Management LLC acquired a new position in shares of Crown in the 2nd quarter valued at about $265,000. 90.93% of the stock is currently owned by institutional investors and hedge funds.

Key Stories Impacting Crown

Here are the key news stories impacting Crown this week:

• Neutral Sentiment: Cascades agreed to sell a corrugated packaging plant in Richmond, B.C., to Crown Paper Group for CA$65.5M — a regional consolidation in the packaging sector that may slightly alter competitive dynamics but does not directly involve Crown Holdings. Cascades sells Richmond, B.C. packaging plant to Crown Paper Group for $65.5 million
• Negative Sentiment: An insider sale: CEO Timothy J. Donahue sold 7,500 CCK shares at an average price of $105 (≈$787,500), reducing his holding by ~1.53%. Insider selling can be interpreted by some investors as a negative signal on near-term insider conviction, though the sale is small relative to his total holdings. SEC Filing: Insider Sale

Crown Price Performance

CCK opened at $104.59 on Monday. The company has a current ratio of 1.16, a quick ratio of 0.76 and a debt-to-equity ratio of 1.65. Crown Holdings, Inc. has a 1 year low of $75.98 and a 1 year high of $109.48. The stock has a fifty day moving average price of $101.50 and a 200 day moving average price of $99.03. The stock has a market cap of $12.06 billion, a price-to-earnings ratio of 12.94, a PEG ratio of 1.21 and a beta of 0.73.

Insider Buying and Selling

In other news, COO Djalma Novaes, Jr. sold 19,754 shares of the firm’s stock in a transaction on Tuesday, December 16th. The shares were sold at an average price of $101.02, for a total transaction of $1,995,549.08. Following the transaction, the chief operating officer owned 96,841 shares in the company, valued at approximately $9,782,877.82. This trade represents a 16.94% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Timothy J. Donahue sold 29,024 shares of the company’s stock in a transaction on Monday, January 5th. The stock was sold at an average price of $105.00, for a total transaction of $3,047,520.00. Following the completion of the sale, the chief executive officer owned 411,556 shares of the company’s stock, valued at $43,213,380. This represents a 6.59% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 64,754 shares of company stock worth $6,720,634 in the last 90 days. 0.90% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on CCK shares. Truist Financial increased their price objective on shares of Crown from $126.00 to $130.00 and gave the stock a “buy” rating in a research report on Tuesday, January 6th. Weiss Ratings reissued a “buy (b)” rating on shares of Crown in a research report on Monday, December 29th. UBS Group upped their target price on Crown from $125.00 to $126.00 and gave the stock a “buy” rating in a research report on Monday, January 12th. Mizuho raised their target price on Crown from $116.00 to $120.00 and gave the company an “outperform” rating in a report on Tuesday, October 21st. Finally, Wells Fargo & Company lifted their price objective on shares of Crown from $99.00 to $106.00 and gave the company an “equal weight” rating in a research note on Tuesday, January 6th. Twelve equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to data from MarketBeat.com, Crown currently has an average rating of “Moderate Buy” and a consensus price target of $119.62.

About Crown

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.