Strs Ohio lowered its position in Crown Holdings, Inc. (NYSE:CCK) by 34.8% in the second quarter, HoldingsChannel reports. The firm owned 18,530 shares of the industrial products company’s stock after selling 9,881 shares during the period. Strs Ohio’s holdings in Crown were worth $1,206,000 at the end of the most recent quarter.
Other institutional investors and hedge funds have also recently made changes to their positions in the company. Bessemer Group Inc. purchased a new stake in shares of Crown in the first quarter valued at about $26,000. Synovus Financial Corp grew its holdings in shares of Crown by 125.7% in the first quarter. Synovus Financial Corp now owns 456 shares of the industrial products company’s stock valued at $27,000 after purchasing an additional 254 shares during the period. Verus Capital Partners LLC purchased a new stake in shares of Crown in the fourth quarter valued at about $29,000. Ballast Advisors LLC purchased a new stake in shares of Crown in the first quarter valued at about $33,000. Finally, Simon Quick Advisors LLC boosted its stake in Crown by 50.0% during the first quarter. Simon Quick Advisors LLC now owns 714 shares of the industrial products company’s stock worth $41,000 after buying an additional 238 shares during the period. 89.43% of the stock is owned by hedge funds and other institutional investors.
Several research analysts have weighed in on CCK shares. Jefferies Financial Group started coverage on shares of Crown in a research note on Monday, July 13th. They set a “buy” rating and a $80.00 target price for the company. Wells Fargo & Co increased their target price on shares of Crown from $75.00 to $80.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 22nd. ValuEngine lowered shares of Crown from a “hold” rating to a “sell” rating in a research note on Friday, May 1st. Citigroup increased their target price on shares of Crown from $78.00 to $82.00 and gave the stock a “buy” rating in a research note on Wednesday, July 22nd. Finally, Deutsche Bank increased their target price on shares of Crown from $76.00 to $80.00 and gave the stock a “buy” rating in a research note on Wednesday, July 22nd. Two equities research analysts have rated the stock with a sell rating, two have given a hold rating and ten have issued a buy rating to the company. The stock currently has an average rating of “Buy” and an average price target of $80.75.
Shares of CCK opened at $71.58 on Friday. The stock has a market capitalization of $9.65 billion, a PE ratio of 14.15, a P/E/G ratio of 2.76 and a beta of 1.25. Crown Holdings, Inc. has a 1 year low of $42.97 and a 1 year high of $80.57. The company has a debt-to-equity ratio of 3.67, a quick ratio of 0.80 and a current ratio of 1.15. The company’s 50-day simple moving average is $67.04 and its 200-day simple moving average is $66.52.
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 the Thomson Reuters’ consensus estimate of $1.31 by $0.02. The business had revenue of $2.69 billion for the quarter, compared to analysts’ expectations of $2.76 billion. Crown had a net margin of 4.28% and a return on equity of 32.53%. The business’s quarterly revenue was down 11.4% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.46 earnings per share. On average, sell-side analysts predict that Crown Holdings, Inc. will post 5.19 earnings per share for the current 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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