P Schoenfeld Asset Management LP Sells 164,000 Shares of Crown Holdings, Inc. (NYSE:CCK)

P Schoenfeld Asset Management LP trimmed its stake in shares of Crown Holdings, Inc. (NYSE:CCK) by 24.2% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 514,345 shares of the industrial products company’s stock after selling 164,000 shares during the period. Crown makes up about 3.0% of P Schoenfeld Asset Management LP’s investment portfolio, making the stock its 7th biggest position. P Schoenfeld Asset Management LP’s holdings in Crown were worth $52,571,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also bought and sold shares of the company. Handelsbanken Fonder AB raised its stake in shares of Crown by 102.8% during the second quarter. Handelsbanken Fonder AB now owns 352,200 shares of the industrial products company’s stock worth $35,998,000 after buying an additional 178,500 shares during the last quarter. Railway Pension Investments Ltd raised its stake in shares of Crown by 172.8% during the first quarter. Railway Pension Investments Ltd now owns 50,200 shares of the industrial products company’s stock worth $4,871,000 after buying an additional 31,800 shares during the last quarter. PDT Partners LLC bought a new stake in shares of Crown during the first quarter worth approximately $1,151,000. Millennium Management LLC raised its stake in shares of Crown by 30.9% during the first quarter. Millennium Management LLC now owns 1,089,029 shares of the industrial products company’s stock worth $105,679,000 after buying an additional 257,198 shares during the last quarter. Finally, M.D. Sass Investors Services Inc. raised its stake in shares of Crown by 11.6% during the first quarter. M.D. Sass Investors Services Inc. now owns 313,833 shares of the industrial products company’s stock worth $30,455,000 after buying an additional 32,737 shares during the last quarter. 86.19% of the stock is owned by institutional investors and hedge funds.

Several equities research analysts have commented on the stock. Truist Securities assumed coverage on shares of Crown in a research note on Tuesday, September 14th. They issued a “buy” rating and a $138.00 target price for the company. Truist assumed coverage on shares of Crown in a research note on Monday, September 13th. They issued a “positive” rating and a $138.00 target price for the company. Jefferies Financial Group assumed coverage on shares of Crown in a research note on Wednesday, September 15th. They issued a “buy” rating and a $137.00 target price for the company. Finally, Barclays assumed coverage on shares of Crown in a research note on Monday, September 20th. They issued an “overweight” rating and a $140.00 target price for the company. Three equities research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. Based on data from MarketBeat, Crown currently has an average rating of “Buy” and a consensus target price of $121.94.

CCK traded down $1.23 during trading hours on Monday, hitting $103.14. 28,052 shares of the company’s stock were exchanged, compared to its average volume of 1,003,624. Crown Holdings, Inc. has a 1-year low of $72.84 and a 1-year high of $114.55. The stock’s 50-day moving average is $105.47 and its two-hundred day moving average is $104.42. The stock has a market cap of $13.91 billion, a price-to-earnings ratio of 19.72, a PEG ratio of 2.83 and a beta of 1.18. The company has a quick ratio of 1.24, a current ratio of 1.57 and a debt-to-equity ratio of 2.89.

Crown (NYSE:CCK) last announced its earnings results on Sunday, July 18th. The industrial products company reported $2.14 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.78 by $0.36. Crown had a net margin of 5.84% and a return on equity of 38.22%. The business had revenue of $2.86 billion during the quarter, compared to analysts’ expectations of $2.94 billion. During the same quarter in the prior year, the company posted $1.33 earnings per share. The firm’s revenue was up 6.2% on a year-over-year basis. On average, equities research analysts anticipate that Crown Holdings, Inc. will post 7.49 EPS for the current year.

The firm also recently announced a quarterly dividend, which was paid on Thursday, August 19th. Investors of record on Thursday, August 5th were issued a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a yield of 0.78%. The ex-dividend date was Wednesday, August 4th. Crown’s payout ratio is 13.51%.

In other Crown news, Director John W. Conway sold 370 shares of the stock in a transaction on Wednesday, July 28th. The shares were sold at an average price of $100.03, for a total value of $37,011.10. Following the completion of the sale, the director now owns 1,031,407 shares in the company, valued at $103,171,642.21. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director B Craig Owens purchased 2,000 shares of the business’s stock in a transaction on Tuesday, August 10th. The stock was purchased at an average price of $105.62 per share, with a total value of $211,240.00. Following the purchase, the director now owns 3,036 shares of the company’s stock, valued at $320,662.32. The disclosure for this purchase can be found here. Corporate insiders own 1.90% of the company’s stock.

Crown Profile

Crown Holdings, Inc engages in the design, manufacture, and sale of packaging products and equipment for consumer goods. The firm offers aerosol cans; beverage, promotional, and transit packaging; closures and capping; and food cans. It operates through the following segments: Americas, Europe, Asia Pacific, and Transit Packaging.

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Institutional Ownership by Quarter for Crown (NYSE:CCK)

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