Jensen Investment Management Inc. decreased its stake in Crown Holdings Inc. (NYSE:CCK) by 10.7% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 7,680 shares of the company’s stock after selling 920 shares during the period. Jensen Investment Management Inc.’s holdings in Crown Holdings were worth $389,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Norges Bank bought a new position in Crown Holdings during the fourth quarter valued at $52,762,000. Fjarde AP Fonden Fourth Swedish National Pension Fund increased its position in Crown Holdings by 10.5% in the first quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund now owns 43,903 shares of the company’s stock valued at $2,177,000 after buying an additional 4,189 shares during the period. OLD National Bancorp IN increased its position in Crown Holdings by 4.6% in the first quarter. OLD National Bancorp IN now owns 8,375 shares of the company’s stock valued at $415,000 after buying an additional 370 shares during the period. Glenmede Trust Co. NA increased its position in Crown Holdings by 555.7% in the first quarter. Glenmede Trust Co. NA now owns 92,103 shares of the company’s stock valued at $4,566,000 after buying an additional 78,056 shares during the period. Finally, Virginia Retirement System bought a new position in Crown Holdings during the first quarter valued at $985,000. Hedge funds and other institutional investors own 88.81% of the company’s stock.
Crown Holdings Inc. (NYSE:CCK) traded down 0.20% during trading on Friday, hitting $54.26. 430,630 shares of the company were exchanged. The company has a 50-day moving average of $54.20 and a 200-day moving average of $52.27. The company has a market capitalization of $7.52 billion, a price-to-earnings ratio of 16.64 and a beta of 1.38. Crown Holdings Inc. has a 12 month low of $43.30 and a 12 month high of $56.79.
Crown Holdings (NYSE:CCK) last announced its earnings results on Wednesday, July 20th. The company reported $1.19 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.11 by $0.08. The company earned $2.14 billion during the quarter, compared to analysts’ expectations of $2.24 billion. Crown Holdings had a net margin of 5.34% and a return on equity of 106.65%. The firm’s quarterly revenue was down 6.0% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.03 earnings per share. Analysts forecast that Crown Holdings Inc. will post $3.93 EPS for the current year.
A number of analysts have commented on CCK shares. Goldman Sachs Group Inc. reiterated a “neutral” rating and issued a $60.00 price objective on shares of Crown Holdings in a report on Wednesday, June 1st. Zacks Investment Research downgraded shares of Crown Holdings from a “buy” rating to a “hold” rating in a report on Monday, June 27th. Jefferies Group increased their price objective on shares of Crown Holdings from $62.00 to $63.00 and gave the company a “buy” rating in a report on Thursday, July 14th. Credit Suisse Group AG set a $58.00 price objective on shares of Crown Holdings and gave the company a “hold” rating in a report on Tuesday, July 19th. Finally, Barclays PLC increased their price objective on shares of Crown Holdings from $62.00 to $64.00 and gave the company an “overweight” rating in a report on Monday, July 25th. Six research analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. Crown Holdings presently has an average rating of “Buy” and a consensus target price of $59.00.
Crown Holdings Company Profile
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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