AlphaQuest LLC Has $3.07 Million Stock Holdings in Crown Holdings, Inc. $CCK

AlphaQuest LLC boosted its position in Crown Holdings, Inc. (NYSE:CCK) by 89.9% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 31,829 shares of the industrial products company’s stock after acquiring an additional 15,070 shares during the period. AlphaQuest LLC’s holdings in Crown were worth $3,074,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in CCK. Royal Bank of Canada boosted its stake in shares of Crown by 24.1% in the 1st quarter. Royal Bank of Canada now owns 48,920 shares of the industrial products company’s stock valued at $4,367,000 after purchasing an additional 9,497 shares during the last quarter. Integrated Wealth Concepts LLC raised its stake in shares of Crown by 39.4% during the first quarter. Integrated Wealth Concepts LLC now owns 4,109 shares of the industrial products company’s stock worth $367,000 after buying an additional 1,161 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. acquired a new position in Crown in the first quarter valued at approximately $111,000. NewEdge Advisors LLC boosted its stake in Crown by 6.3% in the first quarter. NewEdge Advisors LLC now owns 5,917 shares of the industrial products company’s stock valued at $528,000 after acquiring an additional 351 shares during the last quarter. Finally, Goldman Sachs Group Inc. grew its holdings in Crown by 23.7% during the 1st quarter. Goldman Sachs Group Inc. now owns 666,262 shares of the industrial products company’s stock worth $59,471,000 after acquiring an additional 127,737 shares during the period. 90.93% of the stock is owned by institutional investors.

Crown Price Performance

NYSE CCK opened at $104.31 on Friday. The company has a debt-to-equity ratio of 1.65, a quick ratio of 0.76 and a current ratio of 1.16. The stock has a market cap of $12.03 billion, a price-to-earnings ratio of 12.91, a PEG ratio of 1.20 and a beta of 0.75. The business has a 50 day simple moving average of $101.36 and a 200 day simple moving average of $99.15. Crown Holdings, Inc. has a 52-week low of $75.98 and a 52-week high of $109.48.

Analysts Set New Price Targets

A number of research analysts have recently weighed in on CCK shares. Mizuho increased their price target on Crown from $116.00 to $120.00 and gave the company an “outperform” rating in a research note on Tuesday, October 21st. Wall Street Zen upgraded Crown from a “hold” rating to a “buy” rating in a report on Sunday, January 18th. Royal Bank Of Canada upped their price target on Crown from $116.00 to $120.00 and gave the company an “outperform” rating in a research note on Wednesday, October 22nd. Truist Financial increased their price target on shares of Crown from $126.00 to $130.00 and gave the company a “buy” rating in a research report on Tuesday, January 6th. Finally, Raymond James Financial restated an “outperform” rating and set a $115.00 price objective (up previously from $110.00) on shares of Crown in a report on Wednesday, October 22nd. Twelve research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $119.62.

Insider Buying and Selling at Crown

In related news, CEO Timothy J. Donahue sold 29,024 shares of the company’s stock in a transaction on Monday, January 5th. The shares were sold at an average price of $105.00, for a total value of $3,047,520.00. Following the completion of the transaction, the chief executive officer directly owned 411,556 shares of the company’s stock, valued at approximately $43,213,380. This represents a 6.59% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, COO Djalma Novaes, Jr. sold 19,754 shares of the stock in a transaction dated Tuesday, December 16th. The stock was sold at an average price of $101.02, for a total value of $1,995,549.08. Following the transaction, the chief operating officer owned 96,841 shares of the company’s stock, valued at approximately $9,782,877.82. This trade represents a 16.94% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold 57,254 shares of company stock valued at $5,933,134 in the last three months. 0.90% of the stock is owned by insiders.

Crown Company Profile

Crown Holdings, Inc is a leading global supplier of rigid packaging products for consumer goods markets. The company designs, manufactures and sells metal packaging for beverage, food, household, personal care and specialty products. Its portfolio includes aluminum and steel beverage cans, steel food cans, aluminum aerosols, metal closures and ends, offering customers end-to-end solutions from design and prototyping to large-scale production.

Founded in 1919 as the Crown Cork & Seal Company, Crown has grown through strategic acquisitions and investments in advanced manufacturing technologies.