Bridgewater Associates LP Sells 61,599 Shares of Crown Holdings, Inc. (NYSE:CCK)

Bridgewater Associates LP decreased its position in Crown Holdings, Inc. (NYSE:CCK - Free Report) by 94.4% during the 3rd quarter, according to the company in its most recent filing with the SEC. The fund owned 3,633 shares of the industrial products company's stock after selling 61,599 shares during the quarter. Bridgewater Associates LP's holdings in Crown were worth $348,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. Sessa Capital IM L.P. lifted its position in Crown by 153.0% during the 2nd quarter. Sessa Capital IM L.P. now owns 3,289,374 shares of the industrial products company's stock worth $244,697,000 after buying an additional 1,989,374 shares in the last quarter. Metropolis Capital Ltd lifted its position in shares of Crown by 269.7% during the third quarter. Metropolis Capital Ltd now owns 1,455,752 shares of the industrial products company's stock worth $139,578,000 after purchasing an additional 1,062,001 shares in the last quarter. Jennison Associates LLC grew its stake in shares of Crown by 125.0% during the third quarter. Jennison Associates LLC now owns 1,352,711 shares of the industrial products company's stock valued at $129,698,000 after purchasing an additional 751,530 shares during the last quarter. FMR LLC increased its holdings in shares of Crown by 9.3% in the third quarter. FMR LLC now owns 8,787,606 shares of the industrial products company's stock valued at $842,556,000 after purchasing an additional 749,085 shares in the last quarter. Finally, 1832 Asset Management L.P. raised its position in Crown by 31.5% in the 2nd quarter. 1832 Asset Management L.P. now owns 1,976,500 shares of the industrial products company's stock worth $147,032,000 after purchasing an additional 473,000 shares during the last quarter. 90.93% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

CCK has been the topic of a number of recent research reports. Citigroup increased their price objective on Crown from $100.00 to $110.00 and gave the company a "buy" rating in a research report on Wednesday, October 2nd. Loop Capital boosted their price objective on Crown from $120.00 to $129.00 and gave the stock a "buy" rating in a report on Monday, October 21st. Wells Fargo & Company lifted their price target on shares of Crown from $97.00 to $105.00 and gave the stock an "equal weight" rating in a research report on Monday, October 21st. Morgan Stanley increased their price objective on shares of Crown from $105.00 to $109.00 and gave the company an "equal weight" rating in a report on Monday, October 21st. Finally, Royal Bank of Canada upped their target price on shares of Crown from $105.00 to $113.00 and gave the company an "outperform" rating in a research report on Wednesday, October 23rd. Three analysts have rated the stock with a hold rating and eleven have given a buy rating to the company's stock. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price of $106.62.

Insider Activity at Crown

In related news, Director James H. Miller sold 1,006 shares of the firm's stock in a transaction that occurred on 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 transaction, the director now owns 12,424 shares in the company, valued at $1,187,734.40. This trade represents a 7.49 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Timothy J. Donahue sold 7,500 shares of the business's stock in a transaction that occurred on Wednesday, November 6th. The stock was sold at an average price of $96.73, for a total transaction of $725,475.00. Following the sale, the chief executive officer now directly owns 563,678 shares in the company, valued at $54,524,572.94. The trade was a 1.31 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 33,506 shares of company stock valued at $3,157,399. 0.90% of the stock is owned by insiders.

Crown Stock Down 0.4 %

CCK traded down $0.40 during trading on Tuesday, reaching $92.01. The company had a trading volume of 853,958 shares, compared to its average volume of 1,121,864. The company has a market cap of $11.01 billion, a P/E ratio of 114.09, a PEG ratio of 2.04 and a beta of 0.84. Crown Holdings, Inc. has a 12 month low of $69.61 and a 12 month high of $98.46. The company has a debt-to-equity ratio of 2.19, a current ratio of 1.21 and a quick ratio of 0.84. The business's fifty day moving average price is $93.47 and its 200 day moving average price is $87.19.

Crown (NYSE:CCK - Get Free Report) last announced its earnings results on Thursday, October 17th. The industrial products company reported $1.99 earnings per share for the quarter, topping analysts' consensus estimates of $1.81 by $0.18. Crown had a net margin of 0.83% and a return on equity of 24.57%. The firm had revenue of $3.07 billion during the quarter, compared to analyst estimates of $3.07 billion. Equities analysts anticipate that Crown Holdings, Inc. will post 6.34 EPS for the current year.

Crown Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, November 27th. Shareholders of record on Thursday, November 14th were paid a $0.25 dividend. The ex-dividend date of this dividend was Thursday, November 14th. This represents a $1.00 annualized dividend and a yield of 1.09%. 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.