Point72 Hong Kong Ltd Buys 28,294 Shares of Crown Holdings, Inc. (NYSE:CCK)

Point72 Hong Kong Ltd grew its holdings in shares of Crown Holdings, Inc. (NYSE:CCK - Free Report) by 3,568.0% during the third quarter, according to its most recent Form 13F filing with the SEC. The firm owned 29,087 shares of the industrial products company's stock after purchasing an additional 28,294 shares during the period. Point72 Hong Kong Ltd's holdings in Crown were worth $2,789,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently bought and sold shares of CCK. True Wealth Design LLC boosted its position in shares of Crown by 6,850.0% in the 3rd quarter. True Wealth Design LLC now owns 695 shares of the industrial products company's stock valued at $67,000 after purchasing an additional 685 shares during the period. Maverick Capital Ltd. acquired a new position in shares of Crown in the 3rd quarter valued at $1,176,000. Edgestream Partners L.P. boosted its position in shares of Crown by 64.7% in the 3rd quarter. Edgestream Partners L.P. now owns 76,046 shares of the industrial products company's stock valued at $7,291,000 after purchasing an additional 29,866 shares during the period. PDT Partners LLC acquired a new stake in Crown during the 3rd quarter worth about $2,109,000. Finally, Verition Fund Management LLC boosted its position in Crown by 467.0% during the 3rd quarter. Verition Fund Management LLC now owns 368,673 shares of the industrial products company's stock worth $35,348,000 after acquiring an additional 303,647 shares during the period. 90.93% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, CEO Timothy J. Donahue sold 7,500 shares of the business's stock in a transaction that occurred on Friday, September 6th. The stock was sold at an average price of $90.58, for a total value of $679,350.00. Following the transaction, the chief executive officer now owns 578,678 shares in the company, valued at $52,416,653.24. The trade was a 1.28 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director James H. Miller sold 1,006 shares of the business's stock in a transaction that occurred on Monday, September 23rd. The stock was 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. The trade was a 7.49 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 33,506 shares of company stock valued at $3,157,399 in the last three months. Insiders own 0.90% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on CCK shares. Royal Bank of Canada raised their price objective on Crown from $105.00 to $113.00 and gave the stock an "outperform" rating in a research report on Wednesday, October 23rd. Citigroup raised their price objective on Crown from $100.00 to $110.00 and gave the company a "buy" rating in a research note on Wednesday, October 2nd. Morgan Stanley lifted their price target on Crown from $105.00 to $109.00 and gave the stock an "equal weight" rating in a research report on Monday, October 21st. Robert W. Baird lifted their price target on Crown from $100.00 to $110.00 and gave the stock an "outperform" rating in a research report on Monday, October 21st. Finally, Wells Fargo & Company lifted their price target on Crown from $97.00 to $105.00 and gave the stock an "equal weight" rating in a research report 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's stock. According to MarketBeat.com, Crown presently has an average rating of "Moderate Buy" and a consensus target price of $106.62.

Crown Stock Performance

NYSE:CCK traded up $0.02 on Monday, hitting $92.11. The company's stock had a trading volume of 213,083 shares, compared to its average volume of 1,121,115. The firm has a market capitalization of $11.02 billion, a P/E ratio of 113.30, a price-to-earnings-growth ratio of 2.04 and a beta of 0.85. The company has a current ratio of 1.21, a quick ratio of 0.84 and a debt-to-equity ratio of 2.19. Crown Holdings, Inc. has a one year low of $69.61 and a one year high of $98.46. The stock has a fifty day moving average of $93.53 and a two-hundred day moving average of $87.13.

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. The company had revenue of $3.07 billion for the quarter, compared to analyst estimates of $3.07 billion. Crown had a return on equity of 24.57% and a net margin of 0.83%. Research analysts predict that Crown Holdings, Inc. will post 6.34 earnings per share for the current 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 dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 1.09%. The ex-dividend date was Thursday, November 14th. Crown's dividend payout ratio is currently 123.46%.

Crown Company Profile

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.