Viking Global Investors LP lifted its stake in shares of Crown Holdings, Inc. (NYSE:CCK) by 13.2% during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 2,293,475 shares of the industrial products company’s stock after buying an additional 267,576 shares during the quarter. Viking Global Investors LP owned 1.69% of Crown worth $140,131,000 as of its most recent filing with the SEC.
Several other large investors also recently made changes to their positions in CCK. Advisory Services Network LLC purchased a new stake in shares of Crown during the 1st quarter valued at about $32,000. Oakworth Capital Inc. purchased a new stake in Crown during the 2nd quarter worth approximately $42,000. Rockefeller Capital Management L.P. increased its holdings in Crown by 53.2% during the 2nd quarter. Rockefeller Capital Management L.P. now owns 691 shares of the industrial products company’s stock worth $42,000 after purchasing an additional 240 shares during the last quarter. First Personal Financial Services increased its holdings in Crown by 73.7% during the 2nd quarter. First Personal Financial Services now owns 1,002 shares of the industrial products company’s stock worth $61,000 after purchasing an additional 425 shares during the last quarter. Finally, Advisory Alpha LLC purchased a new stake in Crown during the 1st quarter worth approximately $118,000. Institutional investors and hedge funds own 96.17% of the company’s stock.
CCK has been the topic of several analyst reports. ValuEngine upgraded Crown from a “hold” rating to a “buy” rating in a report on Wednesday, July 31st. Citigroup set a $75.00 price objective on Crown and gave the stock a “buy” rating in a report on Tuesday, September 10th. Zacks Investment Research upgraded Crown from a “sell” rating to a “hold” rating and set a $67.00 price objective on the stock in a report on Tuesday, September 10th. Finally, Robert W. Baird set a $65.00 price objective on Crown and gave the stock a “buy” rating in a report on Friday, July 19th. Four analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. The stock has a consensus rating of “Buy” and an average target price of $64.56.
Crown (NYSE:CCK) last issued its earnings results on Wednesday, July 17th. The industrial products company reported $1.46 EPS for the quarter, missing the consensus estimate of $1.49 by ($0.03). The firm had revenue of $3.04 billion during the quarter, compared to analyst estimates of $3.04 billion. Crown had a return on equity of 48.36% and a net margin of 3.91%. Crown’s revenue was down .4% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.55 EPS. On average, sell-side analysts forecast that Crown Holdings, Inc. will post 5.09 EPS for the current fiscal year.
In other news, COO Gerard H. Gifford sold 10,000 shares of Crown stock in a transaction that occurred on Tuesday, August 13th. The stock was sold at an average price of $67.92, for a total value of $679,200.00. Following the completion of the transaction, the chief operating officer now owns 152,292 shares in the company, valued at approximately $10,343,672.64. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. 1.90% of the stock is currently owned by company insiders.
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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