Assenagon Asset Management S.A. Trims Position in Crown Holdings, Inc. (NYSE:CCK)

Assenagon Asset Management S.A. lowered its position in shares of Crown Holdings, Inc. (NYSE:CCK) by 7.8% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 16,760 shares of the industrial products company’s stock after selling 1,416 shares during the quarter. Assenagon Asset Management S.A.’s holdings in Crown were worth $1,386,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also recently bought and sold shares of CCK. Sei Investments Co. lifted its stake in shares of Crown by 139.2% during the 2nd quarter. Sei Investments Co. now owns 122,380 shares of the industrial products company’s stock worth $9,104,000 after purchasing an additional 71,227 shares during the period. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp increased its stake in Crown by 62.0% in the second quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 23,142 shares of the industrial products company’s stock valued at $1,722,000 after purchasing an additional 8,857 shares during the last quarter. AQR Capital Management LLC lifted its position in Crown by 121.7% during the second quarter. AQR Capital Management LLC now owns 736,478 shares of the industrial products company’s stock worth $54,787,000 after buying an additional 404,250 shares during the period. MBB Public Markets I LLC acquired a new stake in Crown in the 2nd quarter worth about $641,000. Finally, Millennium Management LLC grew its holdings in Crown by 166.6% in the 2nd quarter. Millennium Management LLC now owns 509,909 shares of the industrial products company’s stock valued at $37,932,000 after buying an additional 318,617 shares during the period. 90.93% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

CCK has been the topic of several recent analyst reports. Mizuho cut their price objective on shares of Crown from $110.00 to $100.00 and set an “outperform” rating on the stock in a report on Tuesday, January 7th. Robert W. Baird lifted their price target on shares of Crown from $100.00 to $110.00 and gave the company an “outperform” rating in a report on Monday, October 21st. Barclays upped their price objective on Crown from $100.00 to $112.00 and gave the stock an “overweight” rating in a report on Monday, October 21st. Wells Fargo & Company reduced their target price on Crown from $88.00 to $86.00 and set an “equal weight” rating on the stock in a report on Thursday, January 16th. Finally, Royal Bank of Canada upped their price target on Crown from $105.00 to $113.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 23rd. Two investment analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $105.46.

Insider Buying and Selling at Crown

In related news, CEO Timothy J. Donahue sold 7,500 shares of the business’s stock in a transaction dated Wednesday, November 6th. The shares were sold at an average price of $96.73, for a total transaction of $725,475.00. Following the completion of the sale, the chief executive officer now owns 563,678 shares of the company’s stock, valued at $54,524,572.94. This represents a 1.31 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.90% of the stock is currently owned by corporate insiders.

Crown Stock Performance

Crown stock opened at $88.36 on Friday. The firm has a market capitalization of $10.57 billion, a PE ratio of 109.09, a price-to-earnings-growth ratio of 1.68 and a beta of 0.86. Crown Holdings, Inc. has a one year low of $69.61 and a one year high of $98.46. The stock’s 50 day moving average price is $86.34 and its 200 day moving average price is $88.37. The company has a debt-to-equity ratio of 2.19, a quick ratio of 0.84 and a current ratio of 1.21.

Crown 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.