Nissay Asset Management Corp Japan ADV Raises Stake in Crown Holdings, Inc. (CCK)

Nissay Asset Management Corp Japan ADV lifted its stake in shares of Crown Holdings, Inc. (NYSE:CCK) by 3.0% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 12,412 shares of the industrial products company’s stock after acquiring an additional 363 shares during the period. Nissay Asset Management Corp Japan ADV’s holdings in Crown were worth $677,000 at the end of the most recent quarter.

Several other hedge funds also recently modified their holdings of CCK. Bank of New York Mellon Corp boosted its holdings in Crown by 10.1% during the fourth quarter. Bank of New York Mellon Corp now owns 765,584 shares of the industrial products company’s stock worth $31,824,000 after purchasing an additional 70,020 shares during the last quarter. Raymond James Financial Services Advisors Inc. boosted its holdings in Crown by 22.1% during the fourth quarter. Raymond James Financial Services Advisors Inc. now owns 6,455 shares of the industrial products company’s stock worth $268,000 after purchasing an additional 1,169 shares during the last quarter. Manning & Napier Group LLC boosted its holdings in Crown by 50.5% during the first quarter. Manning & Napier Group LLC now owns 360,725 shares of the industrial products company’s stock worth $19,683,000 after purchasing an additional 121,085 shares during the last quarter. Morgan Stanley boosted its holdings in Crown by 151.7% during the third quarter. Morgan Stanley now owns 338,663 shares of the industrial products company’s stock worth $16,256,000 after purchasing an additional 204,088 shares during the last quarter. Finally, Man Group plc boosted its holdings in Crown by 31.6% during the third quarter. Man Group plc now owns 8,642 shares of the industrial products company’s stock worth $415,000 after purchasing an additional 2,075 shares during the last quarter.

Shares of CCK stock opened at $60.05 on Wednesday. The firm has a market capitalization of $8.18 billion, a price-to-earnings ratio of 11.55, a PEG ratio of 1.63 and a beta of 1.66. The company has a quick ratio of 0.65, a current ratio of 1.20 and a debt-to-equity ratio of 5.87. Crown Holdings, Inc. has a one year low of $39.05 and a one year high of $61.40.



Crown (NYSE:CCK) last announced its quarterly earnings results on Wednesday, April 17th. The industrial products company reported $1.05 EPS for the quarter, meeting analysts’ consensus estimates of $1.05. The firm had revenue of $2.76 billion during the quarter, compared to analysts’ expectations of $2.76 billion. Crown had a net margin of 3.86% and a return on equity of 54.33%. The company’s revenue for the quarter was up 25.4% compared to the same quarter last year. During the same quarter last year, the company posted $0.94 earnings per share. As a group, equities research analysts predict that Crown Holdings, Inc. will post 5.29 earnings per share for the current fiscal year.

Several research analysts recently commented on the stock. Wells Fargo & Co set a $70.00 target price on shares of Crown and gave the stock a “hold” rating in a report on Friday, May 17th. Deutsche Bank increased their target price on shares of Crown from $60.00 to $65.00 and gave the stock a “positive” rating in a report on Monday, April 22nd. Morgan Stanley set a $56.00 target price on shares of Crown and gave the stock a “hold” rating in a report on Wednesday, April 17th. Zacks Investment Research cut shares of Crown from a “hold” rating to a “sell” rating in a report on Tuesday, April 16th. Finally, TheStreet upgraded shares of Crown from a “c+” rating to a “b-” rating in a report on Friday, March 1st. One research analyst has rated the stock with a sell rating, four have given a hold rating and six have assigned a buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus price target of $60.67.

In other Crown news, Director John W. Conway sold 129,000 shares of the stock in a transaction on Tuesday, April 30th. The shares were sold at an average price of $58.06, for a total value of $7,489,740.00. Following the completion of the sale, the director now owns 1,156,677 shares in the company, valued at $67,156,666.62. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Company insiders own 1.90% of the company’s stock.

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Crown 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.

Further Reading: Intrinsic Value

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Institutional Ownership by Quarter for Crown (NYSE:CCK)

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