Westpac Banking Corp increased its position in shares of Crown Holdings Inc. (NYSE:CCK) by 27.2% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 10,802 shares of the company’s stock after buying an additional 2,313 shares during the period. Westpac Banking Corp’s holdings in Crown Holdings were worth $547,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors also recently bought and sold shares of the company. First Manhattan Co. boosted 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 period. Fulton Bank N.A. acquired a new position in Crown Holdings during the second quarter valued at approximately $213,000. BNP Paribas Arbitrage SA boosted 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 period. Strs Ohio boosted 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 period. Finally, Societe Generale acquired a new position in Crown Holdings during the second quarter valued at approximately $225,000. 88.81% of the stock is owned by institutional investors.
Shares of Crown Holdings Inc. (NYSE:CCK) opened at 55.73 on Wednesday. The company has a 50-day moving average price of $54.63 and a 200 day moving average price of $52.76. Crown Holdings Inc. has a 52 week low of $43.30 and a 52 week high of $57.46. The firm has a market cap of $7.72 billion, a price-to-earnings ratio of 17.10 and a beta of 1.32.
Crown Holdings (NYSE:CCK) last released its earnings results on Wednesday, July 20th. The company reported $1.19 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.11 by $0.08. Crown Holdings had a return on equity of 106.65% and a net margin of 5.34%. The business had revenue of $2.14 billion for the quarter, compared to analyst estimates of $2.24 billion. During the same quarter in the prior year, the company posted $1.03 earnings per share. Crown Holdings’s revenue was down 6.0% on a year-over-year basis. Analysts expect that Crown Holdings Inc. will post $3.93 EPS for the current fiscal year.
Several equities research analysts recently issued reports on CCK shares. BMO Capital Markets raised Crown Holdings from a “market perform” rating to an “outperform” rating and upped their price target for the company from $56.00 to $65.00 in a research report on Monday, September 26th. They noted that the move was a valuation call. Credit Suisse Group AG set a $58.00 target price on Crown Holdings and gave the stock a “hold” rating in a research report on Tuesday, July 19th. Zacks Investment Research lowered Crown Holdings from a “buy” rating to a “hold” rating in a research report on Monday, June 27th. Royal Bank Of Canada began coverage on Crown Holdings in a research report on Friday, September 30th. They issued an “outperform” rating and a $65.00 target price on the stock. Finally, RBC Capital Markets began coverage on Crown Holdings in a research report on Thursday, September 29th. They issued an “outperform” rating and a $65.00 target price on the stock. Six analysts have rated the stock with a hold rating and ten have given a buy rating to the company. Crown Holdings has a consensus rating of “Buy” and an average price target 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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