Comerica Bank reduced its stake in shares of Crown Holdings, Inc. (NYSE:CCK) by 2.4% in the second quarter, according to its most recent filing with the SEC. The institutional investor owned 13,595 shares of the industrial products company’s stock after selling 340 shares during the period. Comerica Bank’s holdings in Crown Holdings were worth $815,000 as of its most recent filing with the SEC.
A number of other institutional investors and hedge funds also recently modified their holdings of CCK. Creative Planning increased its holdings in Crown Holdings by 1.3% during the 2nd quarter. Creative Planning now owns 1,755 shares of the industrial products company’s stock worth $105,000 after purchasing an additional 23 shares in the last quarter. Cadence Capital Management LLC bought a new stake in Crown Holdings during the 1st quarter worth approximately $200,000. Two Sigma Securities LLC bought a new stake in Crown Holdings during the 1st quarter worth approximately $207,000. Achmea Investment Management B.V. bought a new stake in Crown Holdings during the 1st quarter worth approximately $227,000. Finally, Pennsylvania Trust Co bought a new stake in Crown Holdings during the 2nd quarter worth approximately $251,000. 90.12% of the stock is owned by hedge funds and other institutional investors.
CCK has been the subject of a number of recent research reports. Vertical Research lowered Crown Holdings from a “buy” rating to a “hold” rating and boosted their price objective for the stock from $60.00 to $64.00 in a report on Friday, July 21st. ValuEngine raised Crown Holdings from a “hold” rating to a “buy” rating in a report on Friday, June 30th. Jefferies Group LLC reissued a “buy” rating on shares of Crown Holdings in a report on Wednesday, May 24th. BidaskClub raised Crown Holdings from a “hold” rating to a “buy” rating in a report on Thursday, June 29th. Finally, Zacks Investment Research raised Crown Holdings from a “hold” rating to a “buy” rating and set a $67.00 price objective for the company in a report on Monday, July 10th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and six have issued a buy rating to the company’s stock. Crown Holdings presently has a consensus rating of “Hold” and a consensus target price of $64.56.
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Crown Holdings, Inc. (CCK) opened at 61.01 on Thursday. The stock has a 50 day moving average price of $58.77 and a 200 day moving average price of $57.04. The company has a market capitalization of $8.25 billion, a price-to-earnings ratio of 17.48 and a beta of 1.39. Crown Holdings, Inc. has a 12-month low of $51.57 and a 12-month high of $61.39.
Crown Holdings (NYSE:CCK) last announced its quarterly earnings data on Wednesday, July 19th. The industrial products company reported $1.12 earnings per share for the quarter, topping analysts’ consensus estimates 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 analyst estimates of $2.15 billion. During the same period in the previous year, the business earned $1.19 EPS. The firm’s revenue for the quarter was up .9% on a year-over-year basis. On average, analysts expect that Crown Holdings, Inc. will post $4.03 EPS for the current year.
Crown Holdings Profile
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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