Cooke & Bieler LP lowered its stake in shares of Crown Holdings Inc. (NYSE:CCK) by 0.7% during the second quarter, Holdings Channel reports. The fund owned 1,951,498 shares of the company’s stock after selling 13,030 shares during the period. Crown Holdings accounts for 2.2% of Cooke & Bieler LP’s portfolio, making the stock its 11th largest position. Cooke & Bieler LP’s holdings in Crown Holdings were worth $98,882,000 as of its most recent filing with the SEC.
Other institutional investors have also added to or reduced their stakes in the company. First Manhattan Co. raised its position in Crown Holdings by 2.9% in the second quarter. First Manhattan Co. now owns 3,089 shares of the company’s stock valued at $156,000 after buying an additional 88 shares during the last quarter. Fulton Bank N.A. acquired a new position in Crown Holdings during the second quarter valued at about $213,000. BNP Paribas Arbitrage SA raised its position in Crown Holdings by 94.2% in the second quarter. BNP Paribas Arbitrage SA now owns 4,270 shares of the company’s stock valued at $216,000 after buying an additional 2,071 shares during the last quarter. Strs Ohio raised its position in Crown Holdings by 110.5% in the second quarter. Strs Ohio now owns 4,285 shares of the company’s stock valued at $217,000 after buying an additional 2,249 shares during the last quarter. Finally, Riverhead Capital Management LLC acquired a new position in Crown Holdings during the first quarter valued at about $301,000. Hedge funds and other institutional investors own 88.82% of the company’s stock.
Shares of Crown Holdings Inc. (NYSE:CCK) traded up 0.22% during midday trading on Monday, hitting $55.38. 995,303 shares of the stock were exchanged. The firm’s 50-day moving average is $55.04 and its 200-day moving average is $53.06. Crown Holdings Inc. has a 12 month low of $43.30 and a 12 month high of $57.46. The stock has a market cap of $7.67 billion, a price-to-earnings ratio of 16.99 and a beta of 1.32.
Crown Holdings (NYSE:CCK) last released its quarterly earnings data on Wednesday, July 20th. The company reported $1.19 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.11 by $0.08. Crown Holdings had a net margin of 5.34% and a return on equity of 106.65%. The firm had revenue of $2.14 billion for the quarter, compared to the consensus estimate of $2.24 billion. During the same period last year, the firm earned $1.03 earnings per share. The company’s quarterly revenue was down 6.0% on a year-over-year basis. Equities research analysts predict that Crown Holdings Inc. will post $3.93 earnings per share for the current year.
A number of equities analysts recently weighed in on the stock. Jefferies Group boosted their price objective on shares of Crown Holdings from $62.00 to $63.00 and gave the stock a “buy” rating in a report on Thursday, July 14th. RBC Capital Markets assumed coverage on shares of Crown Holdings in a report on Thursday, September 29th. They issued an “outperform” rating and a $65.00 price objective for the company. Zacks Investment Research upgraded shares of Crown Holdings from a “sell” rating to a “hold” rating in a report on Friday, July 22nd. Barclays PLC boosted their price objective on shares of Crown Holdings from $62.00 to $64.00 and gave the stock an “overweight” rating in a report on Monday, July 25th. Finally, Credit Suisse Group AG set a $58.00 price objective on shares of Crown Holdings and gave the stock a “hold” rating in a report on Tuesday, July 19th. One research analyst has rated the stock with a sell rating, five have given a hold rating and ten have assigned a buy rating to the company. The stock currently has a consensus rating of “Buy” and an average target price of $60.38.
About Crown Holdings
Crown Holdings, Inc is engaged in the design, manufacture and sale of packaging products for consumer goods. The Company’s business is organized within three divisions: Americas, Europe and Asia Pacific. Within each Division, the Company is organized along product lines. The Company’s segments within the Americas Division are Americas Beverage and North America Food.
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