Nissay Asset Management Corp Japan ADV increased its position in Crown Holdings, Inc. (NYSE:CCK) by 4.6% in the 2nd quarter, HoldingsChannel reports. The fund owned 14,031 shares of the industrial products company’s stock after buying an additional 615 shares during the quarter. Nissay Asset Management Corp Japan ADV’s holdings in Crown were worth $914,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other institutional investors have also recently added to or reduced their stakes in CCK. Norges Bank purchased a new stake in Crown in the 4th quarter worth approximately $101,258,000. JPMorgan Chase & Co. increased its holdings in Crown by 14.4% in the 1st quarter. JPMorgan Chase & Co. now owns 7,456,034 shares of the industrial products company’s stock worth $432,748,000 after acquiring an additional 935,962 shares in the last quarter. Maverick Capital Ltd. increased its holdings in Crown by 23.2% in the 1st quarter. Maverick Capital Ltd. now owns 3,486,509 shares of the industrial products company’s stock worth $202,357,000 after acquiring an additional 656,156 shares in the last quarter. Jennison Associates LLC bought a new position in Crown in the 1st quarter worth approximately $35,234,000. Finally, Alyeska Investment Group L.P. boosted its stake in Crown by 112.4% in the 1st quarter. Alyeska Investment Group L.P. now owns 726,805 shares of the industrial products company’s stock worth $42,184,000 after purchasing an additional 384,682 shares during the period. 89.43% of the stock is owned by institutional investors.
Several research analysts have weighed in on CCK shares. JPMorgan Chase & Co. dropped their price target on Crown from $87.00 to $83.00 and set an “overweight” rating for the company in a research note on Wednesday, April 15th. Wells Fargo & Co upped their price target on Crown from $75.00 to $80.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 22nd. ValuEngine downgraded Crown from a “hold” rating to a “sell” rating in a research report on Friday, May 1st. Jefferies Financial Group initiated coverage on Crown in a research report on Monday, July 13th. They set a “buy” rating and a $80.00 target price for the company. Finally, Morgan Stanley increased their target price on Crown from $63.00 to $74.00 and gave the company an “equal weight” rating in a research report on Thursday, July 23rd. Two analysts have rated the stock with a sell rating, two have given a hold rating and ten have assigned a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and an average price target of $80.75.
Shares of CCK opened at $71.58 on Friday. The company has a market cap of $9.65 billion, a PE ratio of 14.15, a P/E/G ratio of 2.76 and a beta of 1.25. The business has a fifty day moving average of $67.04 and a 200 day moving average of $66.52. Crown Holdings, Inc. has a 52-week low of $42.97 and a 52-week high of $80.57. The company has a quick ratio of 0.80, a current ratio of 1.15 and a debt-to-equity ratio of 3.67.
Crown (NYSE:CCK) last issued its quarterly earnings results on Monday, July 20th. The industrial products company reported $1.33 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.31 by $0.02. The company had revenue of $2.69 billion during the quarter, compared to the consensus estimate of $2.76 billion. Crown had a return on equity of 32.53% and a net margin of 4.28%. Crown’s revenue was down 11.4% on a year-over-year basis. During the same period last year, the company earned $1.46 earnings per share. As a group, research analysts anticipate that Crown Holdings, Inc. will post 5.19 earnings per share for the current fiscal year.
Crown Company Profile
Crown Holdings, Inc designs, manufactures, and sells packaging products and equipment for consumer goods and industrial products in the Americas, Europe, and the Asia Pacific. It offers products for consumer goods, including steel and aluminum cans for food, beverage, household, and other consumer products; glass bottles for beverage product; and metal vacuum closures and steel crowns through its sales organization to the soft drink, food, citrus, brewing, household products, personal care, and various other industries.
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