Private Advisor Group LLC grew its position in shares of Crown Holdings, Inc. (NYSE:CCK) by 160.0% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 47,508 shares of the industrial products company’s stock after buying an additional 29,234 shares during the quarter. Private Advisor Group LLC’s holdings in Crown were worth $2,902,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in CCK. Dimensional Fund Advisors LP lifted its holdings in shares of Crown by 56.4% during the 4th quarter. Dimensional Fund Advisors LP now owns 915,116 shares of the industrial products company’s stock valued at $38,039,000 after buying an additional 329,919 shares during the period. Geode Capital Management LLC increased its stake in Crown by 5.8% in the 4th quarter. Geode Capital Management LLC now owns 1,224,664 shares of the industrial products company’s stock worth $50,871,000 after buying an additional 67,306 shares in the last quarter. Stephens Inc. AR purchased a new stake in Crown in the 1st quarter worth $206,000. Toronto Dominion Bank increased its stake in Crown by 33.7% in the 1st quarter. Toronto Dominion Bank now owns 24,345 shares of the industrial products company’s stock worth $1,328,000 after buying an additional 6,137 shares in the last quarter. Finally, Great West Life Assurance Co. Can increased its stake in Crown by 59.0% in the 1st quarter. Great West Life Assurance Co. Can now owns 57,621 shares of the industrial products company’s stock worth $3,137,000 after buying an additional 21,370 shares in the last quarter. 96.17% of the stock is currently owned by hedge funds and other institutional investors.
A number of brokerages have recently weighed in on CCK. Citigroup set a $75.00 price objective on Crown and gave the company a “buy” rating in a research 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 for the company in a research report on Tuesday, September 10th. Robert W. Baird restated an “outperform” rating and set a $75.00 price objective (up previously from $65.00) on shares of Crown in a research report on Friday. They noted that the move was a valuation call. Finally, ValuEngine raised shares of Crown from a “hold” rating to a “buy” rating in a report on Wednesday, July 31st. Four investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company. Crown has a consensus rating of “Buy” and an average target price of $65.67.
Crown (NYSE:CCK) last issued its quarterly earnings data on Wednesday, July 17th. The industrial products company reported $1.46 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $1.49 by ($0.03). Crown had a net margin of 3.91% and a return on equity of 48.36%. The business had revenue of $3.04 billion for the quarter, compared to analysts’ expectations of $3.04 billion. During the same period in the previous year, the business earned $1.55 earnings per share. The business’s quarterly revenue was down .4% compared to the same quarter last year. On average, sell-side analysts anticipate 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 the business’s stock in a transaction on Tuesday, August 13th. The shares were sold at an average price of $67.92, for a total transaction of $679,200.00. Following the transaction, the chief operating officer now directly owns 152,292 shares of the company’s stock, valued at $10,343,672.64. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Insiders own 1.90% of the company’s stock.
Crown Company 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.
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