Crown Holdings, Inc. (NYSE:CCK) Shares Purchased by Point72 Hong Kong Ltd

Point72 Hong Kong Ltd increased its stake in shares of Crown Holdings, Inc. (NYSE:CCK) by 1.0% in the 4th quarter, HoldingsChannel reports. The firm owned 29,385 shares of the industrial products company’s stock after buying an additional 298 shares during the quarter. Point72 Hong Kong Ltd’s holdings in Crown were worth $2,430,000 at the end of the most recent reporting period.

Other institutional investors have also recently modified their holdings of the company. ProShare Advisors LLC grew its stake in Crown by 6.4% in the 4th quarter. ProShare Advisors LLC now owns 5,529 shares of the industrial products company’s stock worth $457,000 after acquiring an additional 333 shares during the period. Quantinno Capital Management LP grew its stake in Crown by 39.2% in the 4th quarter. Quantinno Capital Management LP now owns 37,596 shares of the industrial products company’s stock worth $3,109,000 after acquiring an additional 10,597 shares during the period. Man Group plc grew its stake in Crown by 45.5% in the 4th quarter. Man Group plc now owns 390,505 shares of the industrial products company’s stock worth $32,291,000 after acquiring an additional 122,084 shares during the period. Numerai GP LLC purchased a new stake in Crown in the 4th quarter worth approximately $857,000. Finally, OMERS ADMINISTRATION Corp grew its stake in Crown by 20.2% in the 4th quarter. OMERS ADMINISTRATION Corp now owns 5,025 shares of the industrial products company’s stock worth $416,000 after acquiring an additional 845 shares during the period. 90.93% of the stock is currently owned by institutional investors and hedge funds.

Crown Stock Down 0.1%

Shares of NYSE CCK opened at $99.58 on Friday. Crown Holdings, Inc. has a 52-week low of $70.84 and a 52-week high of $101.07. The firm has a fifty day moving average of $89.55 and a 200-day moving average of $88.49. The stock has a market capitalization of $11.59 billion, a PE ratio of 27.97, a P/E/G ratio of 1.56 and a beta of 0.76. The company has a quick ratio of 0.80, a current ratio of 1.22 and a debt-to-equity ratio of 1.88.

Crown (NYSE:CCK) last announced its quarterly earnings results on Monday, April 28th. The industrial products company reported $1.67 earnings per share for the quarter, topping analysts’ consensus estimates of $1.22 by $0.45. Crown had a net margin of 3.59% and a return on equity of 25.12%. The firm had revenue of $2.89 billion during the quarter, compared to analysts’ expectations of $2.82 billion. During the same period in the prior year, the company earned $1.02 EPS. The firm’s revenue was up 3.7% on a year-over-year basis. On average, analysts anticipate that Crown Holdings, Inc. will post 6.96 EPS for the current year.

Crown Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, May 29th. Investors of record on Thursday, May 15th will be given a dividend of $0.26 per share. The ex-dividend date is Thursday, May 15th. This represents a $1.04 dividend on an annualized basis and a yield of 1.04%. Crown’s dividend payout ratio (DPR) is 22.37%.

Insider Buying and Selling

In related news, COO Gerard H. Gifford sold 7,000 shares of the company’s stock in a transaction on Friday, May 2nd. The shares were sold at an average price of $97.00, for a total transaction of $679,000.00. Following the completion of the sale, the chief operating officer now directly owns 135,014 shares of the company’s stock, valued at approximately $13,096,358. This represents a 4.93% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 0.90% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

Several analysts have commented on the stock. Wells Fargo & Company lifted their target price on shares of Crown from $89.00 to $101.00 and gave the stock an “equal weight” rating in a research note on Wednesday, April 30th. Royal Bank of Canada lifted their target price on shares of Crown from $115.00 to $120.00 and gave the stock an “outperform” rating in a research note on Thursday, May 1st. UBS Group lifted their target price on shares of Crown from $109.00 to $114.00 and gave the stock a “buy” rating in a research note on Tuesday, April 29th. Truist Financial lowered their target price on shares of Crown from $107.00 to $97.00 and set a “hold” rating for the company in a research note on Tuesday, April 22nd. Finally, Mizuho boosted their price objective on shares of Crown from $105.00 to $110.00 and gave the company an “outperform” rating in a research note on Tuesday, April 29th. Two research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. According to MarketBeat, Crown has an average rating of “Moderate Buy” and a consensus price target of $110.45.

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.