Crown Holdings, Inc. (NYSE:CCK) Shares Acquired by Jennison Associates LLC

Jennison Associates LLC grew its holdings in Crown Holdings, Inc. (NYSE:CCKFree Report) by 32.8% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 429,051 shares of the industrial products company’s stock after acquiring an additional 106,021 shares during the period. Jennison Associates LLC owned about 0.36% of Crown worth $34,007,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also modified their holdings of CCK. Sound Income Strategies LLC acquired a new position in shares of Crown in the fourth quarter worth $26,000. Rise Advisors LLC purchased a new stake in shares of Crown during the 1st quarter worth $27,000. Mather Group LLC. purchased a new stake in shares of Crown during the 1st quarter worth $32,000. Quest Partners LLC purchased a new stake in shares of Crown during the 4th quarter worth $34,000. Finally, Quarry LP lifted its position in shares of Crown by 190.3% during the 4th quarter. Quarry LP now owns 421 shares of the industrial products company’s stock worth $39,000 after purchasing an additional 276 shares during the last quarter. Institutional investors and hedge funds own 90.93% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on CCK. Morgan Stanley began coverage on shares of Crown in a research report on Monday, March 18th. They set an “equal weight” rating and a $87.00 price objective for the company. Wells Fargo & Company lifted their price objective on shares of Crown from $76.00 to $84.00 and gave the stock an “equal weight” rating in a research report on Wednesday, May 1st. Truist Financial reaffirmed a “hold” rating and set a $88.00 price objective (down from $100.00) on shares of Crown in a research report on Wednesday, March 27th. Citigroup decreased their price objective on shares of Crown from $102.00 to $94.00 and set a “buy” rating for the company in a research report on Monday. Finally, Robert W. Baird boosted their price target on shares of Crown from $90.00 to $100.00 and gave the company an “outperform” rating in a research report on Wednesday, May 1st. Four analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $98.50.

Get Our Latest Report on CCK

Insiders Place Their Bets

In other Crown news, Director James H. Miller sold 9,000 shares of the company’s stock in a transaction dated Tuesday, June 4th. The shares were sold at an average price of $82.93, for a total transaction of $746,370.00. Following the transaction, the director now directly owns 12,884 shares in the company, valued at $1,068,470.12. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other Crown news, Director James H. Miller sold 9,000 shares of the company’s stock in a transaction dated Tuesday, June 4th. The shares were sold at an average price of $82.93, for a total transaction of $746,370.00. Following the transaction, the director now directly owns 12,884 shares in the company, valued at $1,068,470.12. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Timothy J. Donahue sold 7,500 shares of the company’s stock in a transaction dated Wednesday, May 15th. The stock was sold at an average price of $85.00, for a total transaction of $637,500.00. Following the transaction, the chief executive officer now owns 608,678 shares in the company, valued at $51,737,630. The disclosure for this sale can be found here. Over the last three months, insiders have sold 39,000 shares of company stock worth $3,300,420. 0.90% of the stock is owned by company insiders.

Crown Trading Down 1.4 %

Shares of Crown stock opened at $71.90 on Wednesday. Crown Holdings, Inc. has a 52-week low of $69.61 and a 52-week high of $96.35. The company has a quick ratio of 0.77, a current ratio of 1.19 and a debt-to-equity ratio of 2.26. The company’s 50-day simple moving average is $80.43 and its 200-day simple moving average is $81.28. The firm has a market cap of $8.68 billion, a price-to-earnings ratio of 20.72, a price-to-earnings-growth ratio of 1.93 and a beta of 0.85.

Crown (NYSE:CCKGet Free Report) last issued its quarterly earnings results on Monday, April 29th. The industrial products company reported $1.02 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.96 by $0.06. Crown had a net margin of 3.51% and a return on equity of 23.95%. The business had revenue of $2.78 billion for the quarter, compared to analyst estimates of $2.93 billion. During the same period in the previous year, the business posted $1.20 earnings per share. The business’s revenue was down 6.4% compared to the same quarter last year. As a group, equities research analysts anticipate that Crown Holdings, Inc. will post 5.93 earnings per share for the current year.

Crown Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, June 27th. Shareholders of record on Thursday, June 13th were given a dividend of $0.25 per share. The ex-dividend date of this dividend was Thursday, June 13th. This represents a $1.00 annualized dividend and a yield of 1.39%. Crown’s payout ratio is currently 28.82%.

Crown Company Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Crown (NYSE:CCK)

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