Jennison Associates LLC Increases Stock Holdings in Crown Holdings, Inc. $CCK

Jennison Associates LLC lifted its holdings in shares of Crown Holdings, Inc. (NYSE:CCK) by 5.4% during the third quarter, according to its most recent disclosure with the SEC. The fund owned 1,439,118 shares of the industrial products company’s stock after acquiring an additional 73,544 shares during the period. Jennison Associates LLC’s holdings in Crown were worth $139,004,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in the stock. Farther Finance Advisors LLC lifted its position in Crown by 19.7% during the 2nd quarter. Farther Finance Advisors LLC now owns 633 shares of the industrial products company’s stock worth $65,000 after acquiring an additional 104 shares during the period. Geneos Wealth Management Inc. raised its stake in shares of Crown by 45.3% in the first quarter. Geneos Wealth Management Inc. now owns 356 shares of the industrial products company’s stock worth $32,000 after purchasing an additional 111 shares during the last quarter. ProShare Advisors LLC lifted its holdings in shares of Crown by 2.3% during the second quarter. ProShare Advisors LLC now owns 5,101 shares of the industrial products company’s stock worth $525,000 after purchasing an additional 113 shares during the period. DekaBank Deutsche Girozentrale boosted its position in Crown by 1.2% in the second quarter. DekaBank Deutsche Girozentrale now owns 9,477 shares of the industrial products company’s stock valued at $983,000 after buying an additional 114 shares during the last quarter. Finally, Harbor Capital Advisors Inc. increased its holdings in Crown by 103.1% in the 3rd quarter. Harbor Capital Advisors Inc. now owns 264 shares of the industrial products company’s stock worth $25,000 after buying an additional 134 shares during the period. 90.93% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Crown

In other news, COO Djalma Novaes, Jr. sold 19,754 shares of the firm’s stock in a transaction that occurred on Tuesday, December 16th. The stock was sold at an average price of $101.02, for a total value of $1,995,549.08. Following the transaction, the chief operating officer owned 96,841 shares in the company, valued at $9,782,877.82. This trade represents a 16.94% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Timothy J. Donahue sold 29,024 shares of Crown stock in a transaction that occurred on Monday, January 5th. The stock was sold at an average price of $105.00, for a total value of $3,047,520.00. Following the completion of the sale, the chief executive officer directly owned 411,556 shares in the company, valued at $43,213,380. This represents a 6.59% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 57,254 shares of company stock worth $5,933,134 over the last ninety days. 0.90% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

Several analysts have commented on CCK shares. Raymond James Financial restated an “outperform” rating and set a $115.00 price objective (up from $110.00) on shares of Crown in a research note on Wednesday, October 22nd. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Crown in a report on Monday, December 29th. Wall Street Zen raised Crown from a “hold” rating to a “buy” rating in a report on Sunday, January 18th. Royal Bank Of Canada upped their price objective on Crown from $116.00 to $120.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 22nd. Finally, Citigroup cut their target price on shares of Crown from $135.00 to $124.00 and set a “buy” rating for the company in a report on Monday, September 29th. Twelve analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. Based on data from MarketBeat.com, Crown presently has an average rating of “Moderate Buy” and an average price target of $119.62.

Crown Stock Performance

CCK opened at $104.17 on Friday. The firm’s fifty day simple moving average is $100.65 and its two-hundred day simple moving average is $99.25. Crown Holdings, Inc. has a 52-week low of $75.98 and a 52-week high of $109.48. The company has a market cap of $12.02 billion, a price-to-earnings ratio of 12.89, a PEG ratio of 1.18 and a beta of 0.75. The company has a quick ratio of 0.76, a current ratio of 1.16 and a debt-to-equity ratio of 1.65.

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.