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

Point72 Asset Management L.P. boosted its holdings in Crown Holdings, Inc. (NYSE:CCK - Free Report) by 638.2% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 376,998 shares of the industrial products company's stock after purchasing an additional 325,928 shares during the quarter. Point72 Asset Management L.P. owned about 0.32% of Crown worth $36,147,000 at the end of the most recent quarter.

A number of other large investors have also recently bought and sold shares of CCK. Sessa Capital IM L.P. lifted its holdings in shares of Crown by 153.0% during the second quarter. Sessa Capital IM L.P. now owns 3,289,374 shares of the industrial products company's stock worth $244,697,000 after purchasing an additional 1,989,374 shares during the period. Metropolis Capital Ltd boosted its holdings in shares of Crown by 269.7% in the third quarter. Metropolis Capital Ltd now owns 1,455,752 shares of the industrial products company's stock valued at $139,578,000 after acquiring an additional 1,062,001 shares in the last quarter. Jennison Associates LLC increased 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 worth $129,698,000 after acquiring an additional 751,530 shares during the period. FMR LLC raised its holdings in Crown by 9.3% during the third quarter. FMR LLC now owns 8,787,606 shares of the industrial products company's stock worth $842,556,000 after purchasing an additional 749,085 shares in the last quarter. Finally, 1832 Asset Management L.P. lifted its position in Crown by 31.5% in the second quarter. 1832 Asset Management L.P. now owns 1,976,500 shares of the industrial products company's stock valued at $147,032,000 after purchasing an additional 473,000 shares during the period. Institutional investors and hedge funds own 90.93% of the company's stock.

Insider Activity at Crown

In other Crown news, COO Gerard H. Gifford sold 10,000 shares of the business's stock in a transaction that occurred on Wednesday, October 23rd. The shares were sold at an average price of $95.89, for a total transaction of $958,900.00. Following the completion of the sale, the chief operating officer now directly owns 114,402 shares in the company, valued at $10,970,007.78. The trade was a 8.04 % decrease in their ownership of the stock. The transaction 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 firm's stock in a transaction on Wednesday, November 6th. The shares were sold at an average price of $96.73, for a total transaction of $725,475.00. Following the completion of the transaction, the chief executive officer now directly owns 563,678 shares in the company, valued at approximately $54,524,572.94. This represents a 1.31 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 26,006 shares of company stock worth $2,478,049. 0.90% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on CCK shares. Robert W. Baird increased their target price on Crown from $100.00 to $110.00 and gave the stock an "outperform" rating in a research note on Monday, October 21st. Wells Fargo & Company increased their price objective on Crown from $97.00 to $105.00 and gave the stock an "equal weight" rating in a research report on Monday, October 21st. Barclays boosted their target price on shares of Crown from $100.00 to $112.00 and gave the stock an "overweight" rating in a research report on Monday, October 21st. Morgan Stanley increased their price target 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, Truist Financial boosted their price objective on shares of Crown from $95.00 to $103.00 and gave the stock a "hold" rating in a report on Tuesday, October 15th. Three investment 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 has an average rating of "Moderate Buy" and a consensus target price of $106.62.

Crown Price Performance

Shares of CCK traded down $1.22 during trading hours on Friday, reaching $88.34. 1,884,538 shares of the company traded hands, compared to its average volume of 1,131,801. The stock has a market capitalization of $10.57 billion, a PE ratio of 110.57, a price-to-earnings-growth ratio of 2.04 and a beta of 0.83. The stock has a fifty day simple moving average of $93.23 and a 200 day simple moving average of $87.29. Crown Holdings, Inc. has a fifty-two week low of $69.61 and a fifty-two week high of $98.46. The company has a quick ratio of 0.84, a current ratio of 1.21 and a debt-to-equity ratio of 2.19.

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

Crown Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, November 27th. Investors of record on Thursday, November 14th were given a $0.25 dividend. The ex-dividend date was Thursday, November 14th. This represents a $1.00 annualized dividend and a dividend yield of 1.13%. Crown's dividend payout ratio is presently 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.