CIBC Asset Management Inc raised its stake in shares of Crown Holdings, Inc. (NYSE:CCK) by 22.0% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 16,987 shares of the industrial products company’s stock after buying an additional 3,060 shares during the period. CIBC Asset Management Inc’s holdings in Crown Holdings were worth $1,013,000 as of its most recent filing with the SEC.
Other institutional investors have also made changes to their positions in the company. Creative Planning raised its position in shares of Crown Holdings by 1.3% in the second quarter. Creative Planning now owns 1,755 shares of the industrial products company’s stock valued at $105,000 after buying an additional 23 shares in the last quarter. Cadence Capital Management LLC acquired a new position in shares of Crown Holdings during the first quarter valued at $200,000. Daiwa Securities Group Inc. raised its position in shares of Crown Holdings by 14.7% in the first quarter. Daiwa Securities Group Inc. now owns 3,900 shares of the industrial products company’s stock valued at $207,000 after buying an additional 500 shares in the last quarter. Two Sigma Securities LLC acquired a new position in shares of Crown Holdings during the first quarter valued at $207,000. Finally, Bronfman E.L. Rothschild L.P. raised its position in shares of Crown Holdings by 13.0% in the first quarter. Bronfman E.L. Rothschild L.P. now owns 4,268 shares of the industrial products company’s stock valued at $226,000 after buying an additional 492 shares in the last quarter. Hedge funds and other institutional investors own 92.46% of the company’s stock.
Shares of Crown Holdings, Inc. (CCK) opened at 58.16 on Friday. The firm has a market capitalization of $7.87 billion, a PE ratio of 16.66 and a beta of 1.39. Crown Holdings, Inc. has a 12-month low of $51.57 and a 12-month high of $60.96. The company has a 50-day moving average price of $59.42 and a 200 day moving average price of $56.02.
Crown Holdings (NYSE:CCK) last issued its earnings results on Wednesday, July 19th. The industrial products company reported $1.12 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.10 by $0.02. Crown Holdings had a net margin of 5.81% and a return on equity of 66.28%. The company had revenue of $2.16 billion during the quarter, compared to analysts’ expectations of $2.15 billion. During the same period last year, the company posted $1.19 earnings per share. The firm’s quarterly revenue was up .9% compared to the same quarter last year. On average, equities analysts expect that Crown Holdings, Inc. will post $4.03 earnings per share for the current year.
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Several equities analysts recently weighed in on the company. Zacks Investment Research upgraded Crown Holdings from a “hold” rating to a “buy” rating and set a $65.00 price target for the company in a research note on Tuesday, June 6th. BidaskClub lowered Crown Holdings from a “buy” rating to a “hold” rating in a research note on Thursday, July 13th. Deutsche Bank AG restated a “hold” rating and issued a $61.00 price target (up previously from $58.00) on shares of Crown Holdings in a research note on Tuesday, July 18th. Royal Bank Of Canada restated a “buy” rating and issued a $62.00 price target on shares of Crown Holdings in a research note on Wednesday, July 12th. Finally, Jefferies Group LLC restated a “buy” rating and issued a $63.00 price target (up previously from $62.00) on shares of Crown Holdings in a research note on Friday, April 21st. One analyst has rated the stock with a sell rating, five have assigned a hold rating and six have assigned a buy rating to the stock. Crown Holdings currently has a consensus rating of “Hold” and an average target price of $64.56.
In other Crown Holdings news, VP David A. Beaver sold 1,000 shares of the stock in a transaction dated Friday, May 19th. The shares were sold at an average price of $56.05, for a total value of $56,050.00. Following the completion of the transaction, the vice president now directly owns 2,398 shares of the company’s stock, valued at $134,407.90. The sale was disclosed in a filing with the SEC, which is available at this link. Company insiders own 1.80% of the company’s stock.
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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