Crown Holdings Inc. (CCK) Stake Increased by Shell Asset Management Co.
Shell Asset Management Co. increased its stake in Crown Holdings Inc. (NYSE:CCK) by 25.1% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 10,444 shares of the company’s stock after buying an additional 2,097 shares during the period. Shell Asset Management Co.’s holdings in Crown Holdings were worth $529,000 at the end of the most recent reporting period.
Other large investors also recently bought and sold shares of the company. First Manhattan Co. increased its stake in Crown Holdings by 2.9% in the second quarter. First Manhattan Co. now owns 3,089 shares of the company’s stock valued at $156,000 after buying an additional 88 shares during the last quarter. Fulton Bank N.A. bought a new stake in Crown Holdings during the second quarter valued at $213,000. BNP Paribas Arbitrage SA increased its stake in Crown Holdings by 94.2% in the second quarter. BNP Paribas Arbitrage SA now owns 4,270 shares of the company’s stock valued at $216,000 after buying an additional 2,071 shares during the last quarter. Riverhead Capital Management LLC bought a new stake in Crown Holdings during the first quarter valued at $301,000. Finally, Magnetar Financial LLC bought a new stake in Crown Holdings during the first quarter valued at $389,000. 88.81% of the stock is owned by institutional investors and hedge funds.
Shares of Crown Holdings Inc. (NYSE:CCK) traded down 0.71% during trading on Friday, hitting $55.86. The stock had a trading volume of 1,000,116 shares. The firm has a 50 day moving average of $54.82 and a 200 day moving average of $52.86. Crown Holdings Inc. has a 1-year low of $43.30 and a 1-year high of $57.46. The company has a market capitalization of $7.74 billion, a price-to-earnings ratio of 17.13 and a beta of 1.32.
Crown Holdings (NYSE:CCK) last announced its earnings results on Wednesday, July 20th. The company reported $1.19 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.11 by $0.08. Crown Holdings had a return on equity of 106.65% and a net margin of 5.34%. The company earned $2.14 billion during the quarter, compared to analyst estimates of $2.24 billion. During the same period last year, the company posted $1.03 earnings per share. The firm’s quarterly revenue was down 6.0% compared to the same quarter last year. Analysts expect that Crown Holdings Inc. will post $3.93 EPS for the current fiscal year.
Several research firms recently weighed in on CCK. Jefferies Group upped their price objective on shares of Crown Holdings from $62.00 to $63.00 and gave the stock a “buy” rating in a report on Thursday, July 14th. RBC Capital Markets began coverage on shares of Crown Holdings in a report on Thursday, September 29th. They issued an “outperform” rating and a $65.00 price objective for the company. Zacks Investment Research raised shares of Crown Holdings from a “sell” rating to a “hold” rating in a report on Friday, July 22nd. Barclays PLC upped their price target on shares of Crown Holdings from $62.00 to $64.00 and gave the company an “overweight” rating in a report on Monday, July 25th. Finally, Credit Suisse Group AG set a $58.00 price target on shares of Crown Holdings and gave the company a “hold” rating in a report on Tuesday, July 19th. Six analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. Crown Holdings currently has a consensus rating of “Buy” and a consensus target price of $60.38.
About Crown Holdings
Crown Holdings, Inc is engaged in the design, manufacture and sale of packaging products for consumer goods. The Company’s business is organized within three divisions: Americas, Europe and Asia Pacific. Within each Division, the Company is organized along product lines. The Company’s segments within the Americas Division are Americas Beverage and North America Food.
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