P Schoenfeld Asset Management LP Cuts Holdings in Crown Holdings, Inc. (NYSE:CCK)

P Schoenfeld Asset Management LP lowered its holdings in Crown Holdings, Inc. (NYSE:CCK) by 24.2% during the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 514,345 shares of the industrial products company’s stock after selling 164,000 shares during the period. Crown comprises about 3.0% of P Schoenfeld Asset Management LP’s investment portfolio, making the stock its 7th biggest holding. P Schoenfeld Asset Management LP owned about 0.38% of Crown worth $52,571,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also modified their holdings of the business. Advisory Services Network LLC bought a new position in Crown in the second quarter worth about $30,000. Aubrey Capital Management Ltd lifted its holdings in Crown by 7.4% in the second quarter. Aubrey Capital Management Ltd now owns 3,131 shares of the industrial products company’s stock worth $320,000 after acquiring an additional 216 shares during the last quarter. Stephens Inc. AR lifted its holdings in Crown by 2.5% in the second quarter. Stephens Inc. AR now owns 4,086 shares of the industrial products company’s stock worth $418,000 after acquiring an additional 100 shares during the last quarter. Legal & General Group Plc lifted its holdings in Crown by 10.7% in the second quarter. Legal & General Group Plc now owns 448,834 shares of the industrial products company’s stock worth $45,875,000 after acquiring an additional 43,341 shares during the last quarter. Finally, Natixis Advisors L.P. lifted its holdings in Crown by 5.2% in the second quarter. Natixis Advisors L.P. now owns 112,460 shares of the industrial products company’s stock worth $11,494,000 after acquiring an additional 5,596 shares during the last quarter. 86.19% of the stock is currently owned by hedge funds and other institutional investors.

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

In other news, Director B Craig Owens acquired 2,000 shares of the firm’s stock in a transaction that occurred 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 approximately $320,662.32. The purchase was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Hock Huat Goh sold 3,735 shares of Crown stock in a transaction on Tuesday, August 31st. The shares were sold at an average price of $110.21, for a total transaction of $411,634.35. The disclosure for this sale can be found here. Company insiders own 1.90% of the company’s stock.

Crown stock traded down $1.23 during mid-day trading on Monday, hitting $103.14. The company’s stock had a trading volume of 28,052 shares, compared to its average volume of 1,003,624. The company has a quick ratio of 1.24, a current ratio of 1.57 and a debt-to-equity ratio of 2.89. The stock has a market capitalization of $13.91 billion, a P/E ratio of 19.72, a P/E/G ratio of 2.83 and a beta of 1.18. Crown Holdings, Inc. has a twelve month low of $72.84 and a twelve month high of $114.55. The stock’s fifty day moving average price is $105.47 and its two-hundred day moving average price is $104.42.

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

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

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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