Crown Holdings, Inc. $CCK Shares Purchased by Allianz Asset Management GmbH

Key Points

• Allianz Asset Management GmbH significantly increased its ownership in Crown Holdings, Inc. by 1,719.4% during the second quarter, acquiring a total of 295,380 shares worth approximately $30.4 million.
• Crown Holdings reported a Q2 EPS of $2.15, exceeding analyst estimates of $1.86, and generated revenue of $3.15 billion, an increase of 3.6% year-over-year.
• The company declared a quarterly dividend of $0.26 per share, resulting in an annualized yield of 1.1%

Allianz Asset Management GmbH grew its position in shares of Crown Holdings, Inc. (NYSE:CCK - Free Report) by 1,719.4% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 295,380 shares of the industrial products company's stock after acquiring an additional 279,145 shares during the quarter. Allianz Asset Management GmbH owned about 0.25% of Crown worth $30,418,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in CCK. GAMMA Investing LLC increased its stake in Crown by 110.3% during the first quarter. GAMMA Investing LLC now owns 1,201 shares of the industrial products company's stock worth $107,000 after acquiring an additional 630 shares during the last quarter. Exchange Traded Concepts LLC increased its stake in Crown by 8.1% during the first quarter. Exchange Traded Concepts LLC now owns 8,855 shares of the industrial products company's stock worth $790,000 after acquiring an additional 665 shares during the last quarter. Janney Montgomery Scott LLC increased its stake in Crown by 22.2% during the first quarter. Janney Montgomery Scott LLC now owns 11,501 shares of the industrial products company's stock worth $1,027,000 after acquiring an additional 2,087 shares during the last quarter. State of Alaska Department of Revenue increased its stake in Crown by 1.6% during the first quarter. State of Alaska Department of Revenue now owns 13,695 shares of the industrial products company's stock worth $1,222,000 after acquiring an additional 215 shares during the last quarter. Finally, Envestnet Portfolio Solutions Inc. acquired a new stake in Crown during the first quarter worth about $820,000. 90.93% of the stock is currently owned by institutional investors and hedge funds.

Crown Trading Up 1.8%

Shares of CCK opened at $94.03 on Friday. The company has a market capitalization of $10.94 billion, a P/E ratio of 19.75, a P/E/G ratio of 1.34 and a beta of 0.73. Crown Holdings, Inc. has a one year low of $75.98 and a one year high of $109.48. The company has a debt-to-equity ratio of 1.67, a quick ratio of 0.69 and a current ratio of 1.06. The stock has a 50-day moving average price of $96.36 and a 200 day moving average price of $97.28.

Crown (NYSE:CCK - Get Free Report) last released its earnings results on Monday, July 21st. The industrial products company reported $2.15 EPS for the quarter, topping analysts' consensus estimates of $1.86 by $0.29. Crown had a return on equity of 27.15% and a net margin of 4.64%.The company had revenue of $3.15 billion for the quarter, compared to the consensus estimate of $3.10 billion. During the same quarter last year, the business posted $1.81 EPS. Crown's quarterly revenue was up 3.6% compared to the same quarter last year. Crown has set its FY 2025 guidance at 7.100-7.500 EPS. Q3 2025 guidance at 1.950-2.050 EPS. Sell-side analysts forecast that Crown Holdings, Inc. will post 6.96 EPS for the current fiscal year.

Crown Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, August 21st. Shareholders of record on Thursday, August 7th were issued a dividend of $0.26 per share. This represents a $1.04 dividend on an annualized basis and a yield of 1.1%. The ex-dividend date of this dividend was Thursday, August 7th. Crown's dividend payout ratio (DPR) is currently 21.85%.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on the company. Morgan Stanley upped their target price on Crown from $114.00 to $118.00 and gave the stock an "overweight" rating in a research report on Wednesday, June 25th. Robert W. Baird upped their target price on Crown from $105.00 to $110.00 and gave the stock a "neutral" rating in a research report on Wednesday, July 23rd. Bank of America upped their target price on Crown from $110.00 to $117.00 and gave the stock a "buy" rating in a research report on Wednesday, July 9th. Wall Street Zen downgraded Crown from a "buy" rating to a "hold" rating in a research report on Saturday. Finally, Raymond James Financial assumed coverage on Crown in a research report on Wednesday. They issued an "outperform" rating and a $110.00 target price for the company. Twelve research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $116.62.

Insider Buying and Selling

In other Crown news, CAO Gerard H. Gifford sold 8,222 shares of the stock in a transaction that occurred on Friday, July 25th. The stock was sold at an average price of $102.93, for a total transaction of $846,290.46. Following the transaction, the chief accounting officer owned 122,585 shares of the company's stock, valued at $12,617,674.05. This trade represents a 6.29% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Timothy J. Donahue sold 37,000 shares of the stock in a transaction that occurred on Wednesday, August 20th. The stock was sold at an average price of $100.56, for a total value of $3,720,720.00. Following the transaction, the chief executive officer directly owned 462,056 shares in the company, valued at approximately $46,464,351.36. This represents a 7.41% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 58,222 shares of company stock worth $5,873,770. 0.90% of the stock is currently owned by company insiders.

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.

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