Bayesian Capital Management LP Purchases Shares of 11,569 Crown Holdings, Inc. (NYSE:CCK)

Bayesian Capital Management LP acquired a new stake in Crown Holdings, Inc. (NYSE:CCK - Free Report) during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 11,569 shares of the industrial products company's stock, valued at approximately $957,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in CCK. Tidal Investments LLC boosted its position in shares of Crown by 121.3% in the third quarter. Tidal Investments LLC now owns 21,997 shares of the industrial products company's stock worth $2,109,000 after buying an additional 12,058 shares during the period. Nordea Investment Management AB boosted its holdings in Crown by 19.3% in the 4th quarter. Nordea Investment Management AB now owns 1,095,382 shares of the industrial products company's stock worth $90,511,000 after acquiring an additional 176,959 shares during the period. Metropolis Capital Ltd grew its position in Crown by 68.7% in the fourth quarter. Metropolis Capital Ltd now owns 2,456,357 shares of the industrial products company's stock valued at $203,116,000 after acquiring an additional 1,000,605 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its position in shares of Crown by 1.1% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 812,474 shares of the industrial products company's stock worth $67,183,000 after purchasing an additional 8,739 shares in the last quarter. Finally, CWA Asset Management Group LLC purchased a new position in shares of Crown in the fourth quarter valued at $1,051,000. 90.93% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Crown

In other news, COO Gerard H. Gifford sold 7,000 shares of the company's stock in a transaction on Friday, May 2nd. The stock was sold at an average price of $97.00, for a total value of $679,000.00. Following the completion of the sale, the chief operating officer now owns 135,014 shares in the company, valued at $13,096,358. This represents a 4.93 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. 0.90% of the stock is currently owned by corporate insiders.

Crown Stock Performance

Shares of NYSE CCK traded down $0.19 during midday trading on Friday, hitting $97.14. 730,416 shares of the company's stock were exchanged, compared to its average volume of 1,199,194. The stock's 50 day moving average price is $88.87 and its 200-day moving average price is $88.38. The company has a debt-to-equity ratio of 1.88, a current ratio of 1.22 and a quick ratio of 0.80. The firm has a market cap of $11.36 billion, a P/E ratio of 27.29, a PEG ratio of 1.56 and a beta of 0.76. Crown Holdings, Inc. has a twelve month low of $70.84 and a twelve month high of $101.17.

Crown (NYSE:CCK - Get Free Report) last issued its quarterly earnings data on Monday, April 28th. The industrial products company reported $1.67 earnings per share for the quarter, beating analysts' consensus estimates of $1.22 by $0.45. The business had revenue of $2.89 billion for the quarter, compared to analysts' expectations of $2.82 billion. Crown had a net margin of 3.59% and a return on equity of 25.12%. The company's revenue was up 3.7% on a year-over-year basis. During the same period in the previous year, the business earned $1.02 earnings per share. Equities research analysts anticipate that Crown Holdings, Inc. will post 6.96 EPS for the current year.

Crown Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, May 29th. Investors of record on Thursday, May 15th will be issued a dividend of $0.26 per share. The ex-dividend date is Thursday, May 15th. This represents a $1.04 annualized dividend and a yield of 1.07%. Crown's payout ratio is 22.37%.

Analyst Upgrades and Downgrades

CCK has been the topic of a number of recent analyst reports. Morgan Stanley raised shares of Crown from an "equal weight" rating to an "overweight" rating and decreased their price objective for the company from $109.00 to $105.00 in a research report on Monday, January 13th. StockNews.com raised Crown from a "hold" rating to a "buy" rating in a report on Friday, February 7th. Truist Financial dropped their price objective on Crown from $107.00 to $97.00 and set a "hold" rating on the stock in a report on Tuesday, April 22nd. Barclays increased their target price on Crown from $109.00 to $117.00 and gave the company an "overweight" rating in a research note on Wednesday, April 30th. Finally, Royal Bank of Canada lifted their price target 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. Two investment analysts have rated the stock with a hold rating and ten have given a buy rating to the company's stock. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average 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.