Jennison Associates LLC Has $49.12 Million Holdings in Crown Holdings, Inc. $CCK

Key Points

• Jennison Associates LLC reduced its stake in Crown Holdings by 15.9% in Q1, selling 92,431 shares and ending with 489,944 shares worth about $49.1 million.
• Crown delivered a strong second quarter, beating estimates with $2.49 EPS on $3.67 billion in revenue, helped by a 5% increase in global beverage can volumes.
• Management raised FY 2026 EPS guidance to $8.30-$8.50, though its Q3 EPS outlook of $2.20-$2.30 was slightly below consensus expectations.

Jennison Associates LLC cut its position in shares of Crown Holdings, Inc. (NYSE:CCK - Free Report) by 15.9% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 489,944 shares of the industrial products company's stock after selling 92,431 shares during the period. Jennison Associates LLC owned 0.44% of Crown worth $49,117,000 as of its most recent SEC filing.

Several other large investors have also made changes to their positions in CCK. Annis Gardner Whiting Capital Advisors LLC increased its holdings in Crown by 55,200.0% in the first quarter. Annis Gardner Whiting Capital Advisors LLC now owns 1,106 shares of the industrial products company's stock worth $111,000 after buying an additional 1,104 shares during the last quarter. Assetmark Inc. lifted its stake in Crown by 5.5% in the first quarter. Assetmark Inc. now owns 18,346 shares of the industrial products company's stock valued at $1,839,000 after acquiring an additional 953 shares during the last quarter. Bessemer Group Inc. grew its position in Crown by 49.0% in the first quarter. Bessemer Group Inc. now owns 6,502 shares of the industrial products company's stock worth $652,000 after acquiring an additional 2,139 shares in the last quarter. Illinois Municipal Retirement Fund increased its stake in shares of Crown by 232.0% during the 1st quarter. Illinois Municipal Retirement Fund now owns 19,400 shares of the industrial products company's stock worth $1,945,000 after purchasing an additional 13,556 shares during the last quarter. Finally, Empirical Financial Services LLC d.b.a. Empirical Wealth Management increased its stake in shares of Crown by 27.4% during the 1st quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management now owns 7,641 shares of the industrial products company's stock worth $766,000 after purchasing an additional 1,643 shares during the last quarter. Institutional investors own 90.93% of the company's stock.

Key Stories Impacting Crown

Here are the key news stories impacting Crown this week:

• Positive Sentiment: Second-quarter earnings beat Wall Street estimates, with Crown reporting $2.49 EPS versus $2.15 expected, and revenue of $3.67 billion versus $3.37 billion expected. Crown Holdings Q2 Earnings and Revenues Top Estimates
• Positive Sentiment: Management lifted FY 2026 EPS guidance to $8.30-$8.50, above the $8.10 consensus, signaling confidence in full-year profitability.
• Positive Sentiment: Operational momentum improved as global beverage can volumes rose 5%, supporting higher sales and suggesting steady demand in Crown’s core packaging business. Crown Holdings Posts Higher Sales As Global Beverage Can Volumes Rise
• Neutral Sentiment: The company’s Q3 EPS guidance of $2.20-$2.30 was slightly below the $2.25 consensus midpoint, which may limit upside as investors assess whether the strong second quarter can carry forward.
• Neutral Sentiment: Technical commentary noted a recent golden cross, which can be viewed as a constructive long-term chart signal, though it was not a direct fundamental driver. Should You Buy Crown Holdings After Golden Cross?

Insider Activity at Crown

In other news, CEO Timothy J. Donahue sold 15,000 shares of the company's stock in a transaction that occurred 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 directly owned 436,070 shares in the company, valued at $45,787,350. The trade was a 3.33% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 0.90% of the stock is currently owned by company insiders.

Crown Stock Performance

Shares of CCK opened at $114.73 on Tuesday. The company has a market capitalization of $12.82 billion, a PE ratio of 18.27, a price-to-earnings-growth ratio of 1.96 and a beta of 0.60. The company has a debt-to-equity ratio of 1.67, a current ratio of 1.12 and a quick ratio of 0.70. Crown Holdings, Inc. has a one year low of $89.21 and a one year high of $118.50. The company's fifty day moving average price is $103.18 and its 200 day moving average price is $104.80.

Crown (NYSE:CCK - Get Free Report) last released its quarterly earnings results on Monday, July 20th. The industrial products company reported $2.49 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.15 by $0.34. The company had revenue of $3.67 billion during the quarter, compared to analysts' expectations of $3.37 billion. Crown had a net margin of 5.65% and a return on equity of 26.62%. During the same period in the prior year, the company earned $2.15 earnings per share. Crown has set its Q3 2026 guidance at 2.200-2.30 EPS and its FY 2026 guidance at 8.300-8.50 EPS. As a group, analysts expect that Crown Holdings, Inc. will post 8.06 earnings per share for the current year.

Crown Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, May 28th. Shareholders of record on Thursday, May 14th were given a $0.35 dividend. This represents a $1.40 annualized dividend and a yield of 1.2%. The ex-dividend date of this dividend was Thursday, May 14th. Crown's payout ratio is currently 22.29%.

Analyst Ratings Changes

Several equities research analysts recently issued reports on the stock. BMO Capital Markets started coverage on shares of Crown in a research note on Thursday. They issued an "outperform" rating and a $130.00 price objective for the company. Weiss Ratings restated a "buy (b-)" rating on shares of Crown in a report on Wednesday, July 8th. Wells Fargo & Company raised their target price on Crown from $109.00 to $117.00 and gave the company an "equal weight" rating in a report on Wednesday, July 15th. Royal Bank Of Canada upped their price target on Crown from $129.00 to $131.00 and gave the stock an "outperform" rating in a research note on Thursday, July 9th. Finally, UBS Group cut their price objective on Crown from $120.00 to $112.00 and set a "neutral" rating on the stock in a research note on Wednesday, April 29th. One research analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating and five have issued a Hold rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average target price of $124.07.

About Crown

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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