Schroder Investment Management Group increased its position in shares of Crown Holdings, Inc. (NYSE:CCK) by 4.8% during the third quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 1,685,916 shares of the industrial products company’s stock after buying an additional 76,765 shares during the quarter. Schroder Investment Management Group’s holdings in Crown were worth $80,924,000 at the end of the most recent quarter.
A number of other hedge funds have also recently bought and sold shares of CCK. BlackRock Inc. raised its stake in shares of Crown by 2.4% in the third quarter. BlackRock Inc. now owns 7,739,341 shares of the industrial products company’s stock worth $371,487,000 after purchasing an additional 183,173 shares during the last quarter. CI Global Investments Inc. raised its stake in shares of Crown by 7.9% in the third quarter. CI Global Investments Inc. now owns 7,396,847 shares of the industrial products company’s stock worth $355,049,000 after purchasing an additional 542,104 shares during the last quarter. FMR LLC raised its stake in shares of Crown by 66.3% in the third quarter. FMR LLC now owns 5,846,001 shares of the industrial products company’s stock worth $280,608,000 after purchasing an additional 2,330,692 shares during the last quarter. Janus Henderson Group PLC raised its stake in shares of Crown by 16.9% in the third quarter. Janus Henderson Group PLC now owns 5,136,465 shares of the industrial products company’s stock worth $246,550,000 after purchasing an additional 743,969 shares during the last quarter. Finally, Boston Partners raised its stake in shares of Crown by 2.1% in the second quarter. Boston Partners now owns 3,204,988 shares of the industrial products company’s stock worth $143,455,000 after purchasing an additional 66,751 shares during the last quarter.
Several analysts have recently commented on CCK shares. Zacks Investment Research raised Crown from a “sell” rating to a “hold” rating in a research note on Thursday, October 18th. Citigroup increased their price objective on Crown from $59.00 to $60.00 and gave the stock a “buy” rating in a research note on Friday, October 19th. Bank of America raised Crown from a “neutral” rating to a “buy” rating and set a $62.00 price objective for the company in a research note on Friday, November 9th. Wells Fargo & Co raised Crown from a “market perform” rating to an “outperform” rating and set a $60.00 target price for the company in a report on Monday, October 22nd. Finally, ValuEngine raised Crown from a “strong sell” rating to a “sell” rating in a report on Wednesday, November 7th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and eight have assigned a buy rating to the stock. The company presently has a consensus rating of “Buy” and a consensus target price of $60.56.
CCK stock opened at $47.67 on Monday. The company has a market capitalization of $6.44 billion, a PE ratio of 11.83, a price-to-earnings-growth ratio of 1.31 and a beta of 1.41. The company has a debt-to-equity ratio of 6.82, a current ratio of 1.14 and a quick ratio of 0.68. Crown Holdings, Inc. has a 12-month low of $40.09 and a 12-month high of $62.27.
Crown (NYSE:CCK) last released its earnings results on Wednesday, October 17th. The industrial products company reported $1.71 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.65 by $0.06. The company had revenue of $3.17 billion during the quarter, compared to analyst estimates of $3.17 billion. Crown had a return on equity of 59.62% and a net margin of 2.81%. Crown’s quarterly revenue was up 28.6% on a year-over-year basis. During the same period in the prior year, the company posted $1.46 earnings per share. Analysts anticipate that Crown Holdings, Inc. will post 5.2 earnings per share for the current fiscal year.
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Crown Holdings, Inc designs, manufactures, and sells packaging products for consumer goods in the Americas, Europe, and the Asia Pacific. Its primary products include steel and aluminum cans for food, beverage, household, and other consumer products; glass bottles for beverage products; and metal vacuum closures, steel crowns and caps.
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