Allianz Asset Management GmbH Decreases Stock Holdings in Crown Holdings, Inc. (NYSE:CCK)

Key Points

• Allianz Asset Management GmbH reduced its holdings in Crown Holdings, Inc. by 22.9%, owning 16,235 shares valued at approximately $1.45 million at the end of the 1st quarter.
• Several institutional investors, like Larson Financial Group LLC and Signaturefd LLC, increased their stakes in Crown Holdings significantly, showcasing shifting investment interests.
• Crown Holdings, Inc. reported earnings of $2.15 per share, exceeding analysts' estimates, along with a declared quarterly dividend of $0.26 per share, reflecting a yield of 1.1%.

Allianz Asset Management GmbH lowered its holdings in Crown Holdings, Inc. (NYSE:CCK - Free Report) by 22.9% during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 16,235 shares of the industrial products company's stock after selling 4,815 shares during the period. Allianz Asset Management GmbH's holdings in Crown were worth $1,449,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of the business. Larson Financial Group LLC raised its holdings in shares of Crown by 47.6% during the 1st quarter. Larson Financial Group LLC now owns 332 shares of the industrial products company's stock valued at $30,000 after buying an additional 107 shares in the last quarter. Signaturefd LLC raised its holdings in shares of Crown by 161.2% during the 1st quarter. Signaturefd LLC now owns 397 shares of the industrial products company's stock valued at $35,000 after buying an additional 245 shares in the last quarter. Colonial Trust Co SC increased its stake in Crown by 88.0% in the 4th quarter. Colonial Trust Co SC now owns 752 shares of the industrial products company's stock worth $62,000 after purchasing an additional 352 shares during the period. Parallel Advisors LLC increased its stake in Crown by 33.8% in the 1st quarter. Parallel Advisors LLC now owns 811 shares of the industrial products company's stock worth $72,000 after purchasing an additional 205 shares during the period. Finally, Natixis purchased a new position in Crown in the 4th quarter worth approximately $91,000. Hedge funds and other institutional investors own 90.93% of the company's stock.

Wall Street Analyst Weigh In

A number of equities analysts have commented on CCK shares. Royal Bank Of Canada lifted their price target on Crown from $115.00 to $120.00 and gave the stock an "outperform" rating in a research note on Thursday, May 1st. Baird R W cut Crown from a "strong-buy" rating to a "hold" rating in a research note on Thursday, July 17th. Robert W. Baird lifted their price target on Crown from $105.00 to $110.00 and gave the stock a "neutral" rating in a research note on Wednesday, July 23rd. Morgan Stanley lifted their price target on Crown from $114.00 to $118.00 and gave the stock an "overweight" rating in a research note on Wednesday, June 25th. Finally, Barclays boosted their target price on Crown from $109.00 to $117.00 and gave the company an "overweight" rating in a research note on Wednesday, April 30th. Four analysts have rated the stock with a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $120.67.

Insiders Place Their Bets

In other Crown news, VP Christy L. Kalaus sold 2,130 shares of Crown stock in a transaction on Friday, May 16th. The stock was sold at an average price of $99.41, for a total transaction of $211,743.30. Following the completion of the transaction, the vice president owned 4,500 shares in the company, valued at approximately $447,345. The trade was a 32.13% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CAO Gerard H. Gifford sold 8,222 shares of the company's 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 completion of the transaction, the chief accounting officer owned 122,585 shares in the company, valued at approximately $12,617,674.05. This represents a 6.29% decrease in their position. The disclosure for this sale can be found here. 0.90% of the stock is currently owned by insiders.

Crown Stock Down 1.3%

Shares of Crown stock traded down $1.25 during trading on Friday, hitting $98.11. The company's stock had a trading volume of 1,292,240 shares, compared to its average volume of 1,192,898. Crown Holdings, Inc. has a 52 week low of $75.98 and a 52 week high of $109.48. The company has a market capitalization of $11.42 billion, a PE ratio of 20.61, a P/E/G ratio of 1.52 and a beta of 0.74. The company has a fifty day simple moving average of $102.76 and a two-hundred day simple moving average of $94.02. The company has a debt-to-equity ratio of 1.67, a quick ratio of 0.69 and a current ratio of 1.06.

Crown (NYSE:CCK - Get Free Report) last announced its earnings results on Monday, July 21st. The industrial products company reported $2.15 earnings per share for the quarter, beating analysts' consensus estimates of $1.86 by $0.29. Crown had a net margin of 4.64% and a return on equity of 27.15%. The business had revenue of $3.15 billion during the quarter, compared to the consensus estimate of $3.10 billion. During the same quarter last year, the firm earned $1.81 earnings per share. The business's revenue for the quarter was up 3.6% on a year-over-year basis. Equities research analysts predict that Crown Holdings, Inc. will post 6.96 earnings per share for the current year.

Crown Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, August 21st. Shareholders of record on Thursday, August 7th will be paid a dividend of $0.26 per share. The ex-dividend date is Thursday, August 7th. This represents a $1.04 dividend on an annualized basis and a yield of 1.1%. Crown's payout ratio is presently 21.85%.

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.