Crown Holdings Inc. (CCK) Shares Sold by Wedge Capital Management L L P NC
Wedge Capital Management L L P NC cut its position in Crown Holdings Inc. (NYSE:CCK) by 16.2% during the second quarter, Holdings Channel reports. The institutional investor owned 144,110 shares of the company’s stock after selling 27,901 shares during the period. Wedge Capital Management L L P NC’s holdings in Crown Holdings were worth $7,302,000 as of its most recent SEC filing.
Other hedge funds have also recently bought and sold shares of the company. Renaissance Technologies LLC increased its stake in Crown Holdings by 2,239.6% in the first quarter. Renaissance Technologies LLC now owns 779,100 shares of the company’s stock worth $38,636,000 after buying an additional 745,800 shares in the last quarter. Adage Capital Partners GP L.L.C. increased its stake in Crown Holdings by 13.2% in the first quarter. Adage Capital Partners GP L.L.C. now owns 3,426,675 shares of the company’s stock worth $169,929,000 after buying an additional 400,000 shares in the last quarter. HBK Investments L P increased its stake in Crown Holdings by 238.1% in the first quarter. HBK Investments L P now owns 323,893 shares of the company’s stock worth $16,062,000 after buying an additional 228,093 shares in the last quarter. AXA increased its stake in Crown Holdings by 886.1% in the first quarter. AXA now owns 177,500 shares of the company’s stock worth $8,802,000 after buying an additional 159,500 shares in the last quarter. Finally, Bank of Montreal Can purchased a new stake in Crown Holdings during the second quarter worth approximately $8,070,000. 88.82% of the stock is currently owned by institutional investors.
Shares of Crown Holdings Inc. (NYSE:CCK) traded up 0.22% on Monday, reaching $55.38. The company’s stock had a trading volume of 995,303 shares. The company has a 50 day moving average price of $55.04 and a 200 day moving average price of $53.06. Crown Holdings Inc. has a 52-week low of $43.30 and a 52-week high of $57.46. The company has a market cap of $7.67 billion, a P/E ratio of 16.99 and a beta of 1.32.
Crown Holdings (NYSE:CCK) last posted its quarterly 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. The company had revenue of $2.14 billion for the quarter, compared to the consensus estimate of $2.24 billion. Crown Holdings had a return on equity of 106.65% and a net margin of 5.34%. The firm’s quarterly revenue was down 6.0% on a year-over-year basis. During the same quarter in the prior year, the business posted $1.03 EPS. On average, analysts anticipate that Crown Holdings Inc. will post $3.93 earnings per share for the current fiscal year.
A number of brokerages have recently issued reports on CCK. BMO Capital Markets raised Crown Holdings from a “market perform” rating to an “outperform” rating and boosted their target price for the stock from $56.00 to $65.00 in a research report on Monday, September 26th. They noted that the move was a valuation call. Credit Suisse Group AG set a $58.00 target price on Crown Holdings and gave the stock a “hold” rating in a research report on Tuesday, July 19th. Zacks Investment Research lowered Crown Holdings from a “buy” rating to a “hold” rating in a research report on Monday, June 27th. Royal Bank Of Canada began coverage on Crown Holdings in a research report on Friday, September 30th. They set an “outperform” rating and a $65.00 target price on the stock. Finally, RBC Capital Markets began coverage on Crown Holdings in a research report on Thursday, September 29th. They set an “outperform” rating and a $65.00 target price on the stock. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and ten have given a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and an average 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.
Want to see what other hedge funds are holding CCK? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Crown Holdings Inc. (NYSE:CCK).
Receive News & Ratings for Crown Holdings Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Crown Holdings Inc. and related companies with MarketBeat.com's FREE daily email newsletter.