Point72 Hong Kong Ltd Has $2.79 Million Stock Position in Crown Holdings, Inc. (NYSE:CCK)

Point72 Hong Kong Ltd grew its stake in shares of Crown Holdings, Inc. (NYSE:CCK) by 3,568.0% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 29,087 shares of the industrial products company’s stock after acquiring 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 quarter.

Other institutional investors also recently made changes to their positions in the company. Tidal Investments LLC lifted its holdings in shares of Crown by 89.6% during the first quarter. Tidal Investments LLC now owns 9,844 shares of the industrial products company’s stock worth $780,000 after buying an additional 4,653 shares in the last quarter. Mather Group LLC. raised its stake in Crown by 150.0% in the 2nd quarter. Mather Group LLC. now owns 1,000 shares of the industrial products company’s stock worth $79,000 after purchasing an additional 600 shares in the last quarter. CWM LLC boosted its holdings in Crown by 167.1% in the 2nd quarter. CWM LLC now owns 4,612 shares of the industrial products company’s stock valued at $343,000 after purchasing an additional 2,885 shares during the period. Gulf International Bank UK Ltd grew its position in shares of Crown by 1.0% during the 2nd quarter. Gulf International Bank UK Ltd now owns 25,870 shares of the industrial products company’s stock worth $1,924,000 after purchasing an additional 258 shares in the last quarter. Finally, MJP Associates Inc. ADV grew its position in shares of Crown by 14.7% during the 2nd quarter. MJP Associates Inc. ADV now owns 12,566 shares of the industrial products company’s stock worth $935,000 after purchasing an additional 1,615 shares in the last quarter. Institutional investors own 90.93% of the company’s stock.

Crown Trading Down 1.0 %

Shares of Crown stock opened at $92.09 on Monday. The firm has a market capitalization of $11.02 billion, a PE ratio of 113.69, 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. The firm’s 50 day moving average is $93.53 and its 200 day moving average is $87.13. Crown Holdings, Inc. has a 1 year low of $69.61 and a 1 year high of $98.46.

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

Crown Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, November 27th. Stockholders of record on Thursday, November 14th were paid a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 1.09%. The ex-dividend date of this dividend was Thursday, November 14th. Crown’s dividend payout ratio is currently 123.46%.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on CCK. Morgan Stanley boosted their price target on Crown from $105.00 to $109.00 and gave the company an “equal weight” rating in a research note on Monday, October 21st. Mizuho set a $110.00 target price on Crown in a research report on Friday, October 18th. StockNews.com raised Crown from a “hold” rating to a “buy” rating in a report on Saturday, October 26th. Loop Capital boosted their price target on Crown from $120.00 to $129.00 and gave the company a “buy” rating in a research note on Monday, October 21st. Finally, Royal Bank of Canada increased their price objective on shares of Crown from $105.00 to $113.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 23rd. Three investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $106.62.

Insider Activity at Crown

In related news, COO Gerard H. Gifford sold 10,000 shares of the stock in a transaction on Wednesday, October 23rd. The stock was sold at an average price of $95.89, for a total value 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. This represents a 8.04 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Timothy J. Donahue sold 7,500 shares of the company’s stock in a transaction dated Friday, September 6th. The shares were sold at an average price of $90.58, for a total value of $679,350.00. Following the completion of the sale, the chief executive officer now owns 578,678 shares in the company, valued at $52,416,653.24. This trade represents a 1.28 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 33,506 shares of company stock worth $3,157,399 in the last quarter. 0.90% of the stock is owned by insiders.

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.