Crown Holdings Inc. (CCK) Sees Unusually-High Trading Volume
Shares of Crown Holdings Inc. (NYSE:CCK) saw unusually-strong trading volume on Friday . Approximately 1,126,396 shares changed hands during mid-day trading, a decline of 6% from the previous session’s volume of 1,193,974 shares.The stock last traded at $53.22 and had previously closed at $53.00.
A number of equities research analysts have commented on CCK shares. Jefferies Group reiterated a “buy” rating on shares of Crown Holdings in a research report on Saturday, April 23rd. Vertical Research lowered Crown Holdings from a “buy” rating to a “hold” rating in a research report on Monday, April 25th. Deutsche Bank AG reiterated a “hold” rating on shares of Crown Holdings in a research report on Wednesday, May 18th. Zacks Investment Research lowered Crown Holdings from a “buy” rating to a “hold” rating in a research report on Monday, June 27th. Finally, Goldman Sachs Group Inc. restated a “neutral” rating and set a $60.00 target price on shares of Crown Holdings in a research report on Wednesday, June 1st. Six investment analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and a consensus price target of $58.44.
The stock has a market cap of $7.34 billion and a price-to-earnings ratio of 16.25. The firm has a 50-day moving average price of $51.99 and a 200-day moving average price of $49.88.
Crown Holdings (NYSE:CCK) last released its quarterly earnings data on Wednesday, July 20th. The company reported $1.19 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.11 by $0.08. During the same quarter in the prior year, the firm posted $1.03 EPS. The company earned $2.14 billion during the quarter, compared to analysts’ expectations of $2.24 billion. The firm’s quarterly revenue was down 6.0% on a year-over-year basis. On average, analysts anticipate that Crown Holdings Inc. will post $3.90 earnings per share for the current year.
In other news, VP David A. Beaver sold 1,000 shares of Crown Holdings stock in a transaction dated Wednesday, May 18th. The stock was sold at an average price of $53.31, for a total value of $53,310.00. Following the transaction, the vice president now owns 4,932 shares in the company, valued at $262,924.92. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, insider Jozef Salaerts sold 20,399 shares of Crown Holdings stock in a transaction dated Monday, April 25th. The stock was sold at an average price of $53.39, for a total value of $1,089,102.61. Following the completion of the transaction, the insider now owns 125,664 shares in the company, valued at approximately $6,709,200.96. The disclosure for this sale can be found here.
Several hedge funds and institutional investors recently added to or reduced their stakes in CCK. TD Asset Management Inc. increased its position in Crown Holdings by 16.2% in the fourth quarter. TD Asset Management Inc. now owns 26,580 shares of the company’s stock valued at $1,348,000 after buying an additional 3,700 shares in the last quarter. Andra AP fonden boosted its stake in Crown Holdings by 7.4% in the fourth quarter. Andra AP fonden now owns 36,300 shares of the company’s stock valued at $1,840,000 after buying an additional 2,500 shares during the last quarter. Marshall Wace LLP acquired a new stake in Crown Holdings during the fourth quarter valued at about $2,099,000. Gulf International Bank UK Ltd boosted its stake in Crown Holdings by 6.0% in the fourth quarter. Gulf International Bank UK Ltd now owns 43,554 shares of the company’s stock valued at $2,208,000 after buying an additional 2,450 shares during the last quarter. Finally, Nationwide Fund Advisors boosted its stake in Crown Holdings by 17.0% in the fourth quarter. Nationwide Fund Advisors now owns 78,866 shares of the company’s stock valued at $3,999,000 after buying an additional 11,468 shares during the last quarter.
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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