Assenagon Asset Management S.A. Acquires Shares of 539,039 Crown Holdings, Inc. $CCK

Key Points

• Assenagon Asset Management acquired 539,039 Crown Holdings shares worth approximately $60.3 million, while institutional investors and hedge funds now own 90.93% of the company.
• Analysts remain broadly positive, with 11 Buy ratings and six Holds producing a “Moderate Buy” consensus and an average price target of $128.20.
• Crown exceeded quarterly expectations with $2.49 EPS and $3.67 billion in revenue, up 16.5% year over year, and declared a $0.35 quarterly dividend yielding about 1.2%.

Assenagon Asset Management S.A. bought a new position in shares of Crown Holdings, Inc. (NYSE:CCK - Free Report) during the 2nd quarter, according to the company in its most recent filing with the SEC. The fund bought 539,039 shares of the industrial products company's stock, valued at approximately $60,275,000. Assenagon Asset Management S.A. owned 0.48% of Crown at the end of the most recent quarter.

Several other hedge funds have also modified their holdings of CCK. OLD National Bancorp IN grew its position in shares of Crown by 507.7% in the fourth quarter. OLD National Bancorp IN now owns 89,549 shares of the industrial products company's stock valued at $9,221,000 after purchasing an additional 74,814 shares during the last quarter. Louisiana State Employees Retirement System purchased a new position in Crown in the 1st quarter valued at about $3,258,000. Fideuram Intesa Sanpaolo Private Banking S.P.A. acquired a new stake in shares of Crown during the 4th quarter worth about $3,855,000. World Investment Advisors purchased a new stake in shares of Crown during the fourth quarter worth about $1,188,000. Finally, Hixon Zuercher LLC purchased a new position in shares of Crown during the fourth quarter valued at approximately $2,418,000. 90.93% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

CCK has been the subject of several recent analyst reports. BMO Capital Markets lifted their price target on Crown from $130.00 to $135.00 and gave the company an "outperform" rating in a report on Wednesday, July 22nd. Bank of America boosted their target price on shares of Crown from $129.00 to $145.00 and gave the company a "buy" rating in a report on Tuesday, July 14th. Citigroup reaffirmed a "buy" rating on shares of Crown in a research note on Thursday, July 23rd. Raymond James Financial upped their price objective on Crown from $125.00 to $135.00 and gave the stock an "outperform" rating in a report on Wednesday, July 15th. Finally, Truist Financial reiterated a "buy" rating and issued a $141.00 target price (up from $129.00) on shares of Crown in a report on Wednesday, July 22nd. Eleven equities research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company's stock. According to MarketBeat, Crown presently has a consensus rating of "Moderate Buy" and an average price target of $128.20.

Insiders Place Their Bets

In other Crown news, CEO Timothy J. Donahue sold 15,000 shares of the business's stock in a transaction on Tuesday, June 23rd. The stock was sold at an average price of $105.00, for a total transaction of $1,575,000.00. Following the completion of the transaction, the chief executive officer owned 436,070 shares in the company, valued at approximately $45,787,350. The trade was a 3.33% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 0.90% of the stock is owned by insiders.

Crown Stock Down 0.2%

Shares of NYSE:CCK opened at $120.85 on Friday. The company's fifty day moving average is $109.25 and its two-hundred day moving average is $106.28. The company has a debt-to-equity ratio of 1.63, a quick ratio of 0.65 and a current ratio of 1.05. Crown Holdings, Inc. has a 1-year low of $89.21 and a 1-year high of $122.91. The stock has a market capitalization of $13.14 billion, a price-to-earnings ratio of 17.39, a price-to-earnings-growth ratio of 1.70 and a beta of 0.59.

Crown (NYSE:CCK - Get Free Report) last released its quarterly earnings data on Monday, July 20th. The industrial products company reported $2.49 earnings per share for the quarter, topping analysts' consensus estimates of $2.16 by $0.33. The business had revenue of $3.67 billion for the quarter, compared to analysts' expectations of $3.37 billion. Crown had a net margin of 5.91% and a return on equity of 27.33%. The company's revenue for the quarter was up 16.5% compared to the same quarter last year. During the same quarter last year, the company earned $2.15 EPS. Crown has set its Q3 2026 guidance at 2.200-2.30 EPS and its FY 2026 guidance at 8.300-8.50 EPS. Equities analysts anticipate that Crown Holdings, Inc. will post 8.39 EPS for the current year.

Crown Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, August 20th. Investors of record on Thursday, August 6th will be given a $0.35 dividend. This represents a $1.40 annualized dividend and a yield of 1.2%. The ex-dividend date is Thursday, August 6th. Crown's dividend payout ratio (DPR) is currently 20.14%.

Crown Profile

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.

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