Crown Holdings, Inc. (NYSE:CCK) Shares Purchased by Point72 Asset Management L.P.

Point72 Asset Management L.P. raised its holdings in Crown Holdings, Inc. (NYSE:CCK) by 638.2% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 376,998 shares of the industrial products company’s stock after acquiring an additional 325,928 shares during the period. Point72 Asset Management L.P. owned approximately 0.32% of Crown worth $36,147,000 at the end of the most recent quarter.

A number of other institutional investors have also bought and sold shares of CCK. GAMMA Investing LLC raised its stake in Crown by 110.9% during the third quarter. GAMMA Investing LLC now owns 310 shares of the industrial products company’s stock worth $30,000 after purchasing an additional 163 shares during the period. Covestor Ltd raised its position in shares of Crown by 156.5% during the 3rd quarter. Covestor Ltd now owns 454 shares of the industrial products company’s stock valued at $44,000 after buying an additional 277 shares during the period. Brooklyn Investment Group acquired a new position in Crown in the third quarter valued at approximately $44,000. Blue Trust Inc. increased its stake in Crown by 172.6% during the second quarter. Blue Trust Inc. now owns 608 shares of the industrial products company’s stock worth $48,000 after acquiring an additional 385 shares during the last quarter. Finally, Catalyst Capital Advisors LLC acquired a new position in shares of Crown in the 3rd quarter valued at $48,000. 90.93% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on the company. Morgan Stanley raised their price objective on Crown from $105.00 to $109.00 and gave the stock an “equal weight” rating in a research report on Monday, October 21st. Loop Capital boosted their price target on shares of Crown from $120.00 to $129.00 and gave the company a “buy” rating in a research note on Monday, October 21st. StockNews.com raised shares of Crown from a “hold” rating to a “buy” rating in a research report on Saturday, October 26th. Truist Financial boosted their target price on Crown from $95.00 to $103.00 and gave the company a “hold” rating in a research report on Tuesday, October 15th. Finally, Barclays lifted their price objective on Crown from $100.00 to $112.00 and gave the company an “overweight” rating in a research note on Monday, October 21st. Three equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to MarketBeat.com, Crown has a consensus rating of “Moderate Buy” and a consensus price target of $106.62.

Insider Transactions at Crown

In other news, CEO Timothy J. Donahue sold 7,500 shares of Crown stock in a transaction dated Monday, October 7th. The stock was sold at an average price of $93.00, for a total transaction of $697,500.00. Following the sale, the chief executive officer now owns 571,178 shares in the company, valued at approximately $53,119,554. The trade was a 1.30 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director James H. Miller sold 1,006 shares of the company’s stock in a transaction dated Monday, September 23rd. The shares were sold at an average price of $95.60, for a total value of $96,173.60. Following the completion of the sale, the director now directly owns 12,424 shares of the company’s stock, valued at approximately $1,187,734.40. This trade represents a 7.49 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 26,006 shares of company stock valued at $2,478,049. Corporate insiders own 0.90% of the company’s stock.

Crown Stock Down 2.7 %

Shares of NYSE:CCK opened at $89.56 on Friday. Crown Holdings, Inc. has a fifty-two week low of $69.61 and a fifty-two week high of $98.46. The firm’s 50 day moving average price is $93.23 and its 200 day moving average price is $87.29. The company has a quick ratio of 0.84, a current ratio of 1.21 and a debt-to-equity ratio of 2.19. The stock has a market cap of $10.71 billion, a price-to-earnings ratio of 110.57, a price-to-earnings-growth ratio of 2.04 and a beta of 0.83.

Crown (NYSE:CCK) last announced its quarterly earnings data on Thursday, October 17th. The industrial products company reported $1.99 earnings per share for the quarter, beating analysts’ consensus estimates of $1.81 by $0.18. The business had revenue of $3.07 billion for the quarter, compared to analyst estimates of $3.07 billion. Crown had a net margin of 0.83% and a return on equity of 24.57%. As a group, equities research analysts predict that Crown Holdings, Inc. will post 6.34 earnings per share for the current fiscal year.

Crown Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, November 27th. Stockholders of record on Thursday, November 14th were issued a $0.25 dividend. The ex-dividend date of this dividend was Thursday, November 14th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.12%. Crown’s payout ratio is currently 123.46%.

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.