Three Peaks Capital Management LLC reduced its position in Crown Holdings, Inc. (NYSE:CCK) by 23.4% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 76,576 shares of the industrial products company’s stock after selling 23,364 shares during the quarter. Crown comprises approximately 1.5% of Three Peaks Capital Management LLC’s investment portfolio, making the stock its 20th largest position. Three Peaks Capital Management LLC owned about 0.06% of Crown worth $5,555,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also recently bought and sold shares of CCK. Marshall Wace LLP acquired a new position in Crown in the 1st quarter valued at $321,000. First Trust Advisors LP raised its stake in Crown by 2.5% in the 1st quarter. First Trust Advisors LP now owns 75,709 shares of the industrial products company’s stock valued at $4,131,000 after purchasing an additional 1,844 shares during the last quarter. Northern Trust Corp raised its stake in Crown by 1.4% in the 2nd quarter. Northern Trust Corp now owns 805,272 shares of the industrial products company’s stock valued at $49,203,000 after purchasing an additional 11,019 shares during the last quarter. HighTower Advisors LLC acquired a new position in Crown in the 2nd quarter valued at $230,000. Finally, ETRADE Capital Management LLC acquired a new position in Crown in the 2nd quarter valued at $214,000. 93.30% of the stock is owned by hedge funds and other institutional investors.
CCK traded up $0.22 during mid-day trading on Friday, hitting $73.92. 5,545 shares of the stock were exchanged, compared to its average volume of 1,035,171. The firm’s fifty day moving average is $72.87 and its two-hundred day moving average is $68.03. Crown Holdings, Inc. has a 1-year low of $46.82 and a 1-year high of $78.29. The company has a current ratio of 1.12, a quick ratio of 0.64 and a debt-to-equity ratio of 4.06. The company has a market cap of $9.80 billion, a PE ratio of 14.21, a PEG ratio of 1.87 and a beta of 1.53.
Several brokerages have issued reports on CCK. Morgan Stanley upped their target price on Crown from $56.00 to $72.00 and gave the company an “equal weight” rating in a report on Wednesday, October 16th. BMO Capital Markets increased their price target on Crown from $72.00 to $85.00 and gave the stock an “outperform” rating in a report on Wednesday, November 6th. Robert W. Baird reiterated an “outperform” rating and set a $75.00 price target (up from $65.00) on shares of Crown in a report on Friday, September 20th. They noted that the move was a valuation call. KeyCorp reiterated a “hold” rating on shares of Crown in a report on Thursday, October 17th. Finally, Deutsche Bank increased their price target on Crown from $65.00 to $75.00 and gave the stock a “buy” rating in a report on Friday, October 18th. They noted that the move was a valuation call. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and seven have given a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and an average price target of $77.33.
In other Crown news, insider Hock Huat Goh sold 3,125 shares of the stock in a transaction dated Thursday, October 31st. The stock was sold at an average price of $74.16, for a total value of $231,750.00. Following the sale, the insider now owns 42,423 shares of the company’s stock, valued at approximately $3,146,089.68. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, VP David A. Beaver sold 1,200 shares of the stock in a transaction dated Monday, December 2nd. The shares were sold at an average price of $75.68, for a total value of $90,816.00. Insiders sold a total of 17,485 shares of company stock worth $1,287,280 in the last ninety days. 1.90% of the stock is owned by corporate insiders.
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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