Jennison Associates LLC Has $140.63 Million Stake in Crown Holdings, Inc. $CCK

Jennison Associates LLC lifted its holdings in Crown Holdings, Inc. (NYSE:CCK) by 21.6% during the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 1,365,574 shares of the industrial products company’s stock after buying an additional 242,389 shares during the period. Jennison Associates LLC’s holdings in Crown were worth $140,627,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of CCK. GAMMA Investing LLC boosted its stake in shares of Crown by 110.3% in the 1st quarter. GAMMA Investing LLC now owns 1,201 shares of the industrial products company’s stock worth $107,000 after buying an additional 630 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. boosted its stake in shares of Crown by 155.4% in the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,793 shares of the industrial products company’s stock worth $158,000 after buying an additional 1,091 shares during the last quarter. Allspring Global Investments Holdings LLC boosted its stake in shares of Crown by 4.6% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 299,097 shares of the industrial products company’s stock worth $26,979,000 after buying an additional 13,117 shares during the last quarter. Sumitomo Mitsui Trust Group Inc. boosted its stake in shares of Crown by 4.6% in the 1st quarter. Sumitomo Mitsui Trust Group Inc. now owns 255,940 shares of the industrial products company’s stock worth $22,845,000 after buying an additional 11,352 shares during the last quarter. Finally, KBC Group NV boosted its stake in shares of Crown by 12.5% in the 1st quarter. KBC Group NV now owns 13,339 shares of the industrial products company’s stock worth $1,191,000 after buying an additional 1,487 shares during the last quarter. Hedge funds and other institutional investors own 90.93% of the company’s stock.

Crown Trading Down 1.4%

NYSE:CCK opened at $97.67 on Wednesday. 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 capitalization of $11.37 billion, a PE ratio of 12.09, a price-to-earnings-growth ratio of 1.35 and a beta of 0.73. The firm’s 50 day moving average is $95.99 and its 200 day moving average is $98.16. Crown Holdings, Inc. has a 12 month low of $75.98 and a 12 month high of $109.48.

Crown (NYSE:CCK) last issued its earnings results on Monday, October 20th. The industrial products company reported $2.24 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.98 by $0.26. Crown had a net margin of 7.79% and a return on equity of 27.35%. The business had revenue of $3.20 billion for the quarter, compared to analysts’ expectations of $3.13 billion. During the same quarter in the previous year, the firm posted $1.99 EPS. The business’s revenue for the quarter 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. Sell-side analysts expect that Crown Holdings, Inc. will post 6.96 earnings per share for the current year.

Crown Announces Dividend

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

Insider Transactions at Crown

In other Crown news, CEO Timothy J. Donahue sold 13,000 shares of the business’s stock in a transaction on Thursday, August 21st. The shares were sold at an average price of $100.52, for a total transaction of $1,306,760.00. Following the sale, the chief executive officer owned 449,056 shares of the company’s stock, valued at $45,139,109.12. The trade was a 2.81% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. 0.90% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on CCK. Royal Bank Of Canada boosted their target price on Crown from $116.00 to $120.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 22nd. 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. Baird R W cut shares of Crown from a “strong-buy” rating to a “hold” rating in a report on Thursday, July 17th. Robert W. Baird lifted their price target on shares of Crown from $105.00 to $110.00 and gave the stock a “neutral” rating in a report on Wednesday, July 23rd. Finally, Truist Financial reaffirmed a “buy” rating and issued a $126.00 price target (up previously from $118.00) on shares of Crown in a report on Wednesday, October 22nd. Twelve analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $118.08.

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.