Korea Investment CORP reduced its position in Crown Holdings, Inc. (NYSE:CCK) by 72.0% during the first quarter, according to its most recent disclosure with the SEC. The fund owned 13,600 shares of the industrial products company’s stock after selling 34,900 shares during the period. Korea Investment CORP’s holdings in Crown Holdings were worth $720,000 as of its most recent filing with the SEC.
A number of other hedge funds also recently added to or reduced their stakes in CCK. Diversified Trust Co boosted its stake in Crown Holdings by 3.3% in the first quarter. Diversified Trust Co now owns 38,488 shares of the industrial products company’s stock worth $2,038,000 after buying an additional 1,236 shares during the period. Round Table Services LLC bought a new stake in Crown Holdings during the first quarter worth approximately $239,000. Nisa Investment Advisors LLC boosted its stake in Crown Holdings by 10.1% in the first quarter. Nisa Investment Advisors LLC now owns 21,449 shares of the industrial products company’s stock worth $1,136,000 after buying an additional 1,973 shares during the period. DnB Asset Management AS boosted its stake in Crown Holdings by 531.8% in the first quarter. DnB Asset Management AS now owns 113,600 shares of the industrial products company’s stock worth $6,015,000 after buying an additional 95,620 shares during the period. Finally, Reliance Trust Co. of Delaware boosted its stake in Crown Holdings by 19.7% in the first quarter. Reliance Trust Co. of Delaware now owns 13,540 shares of the industrial products company’s stock worth $717,000 after buying an additional 2,232 shares during the period. Institutional investors own 90.76% of the company’s stock.
Crown Holdings, Inc. (NYSE:CCK) opened at 56.01 on Friday. The firm’s 50-day moving average is $55.18 and its 200-day moving average is $53.89. The stock has a market capitalization of $7.76 billion, a price-to-earnings ratio of 14.90 and a beta of 1.35. Crown Holdings, Inc. has a 52-week low of $48.04 and a 52-week high of $57.49.
Crown Holdings (NYSE:CCK) last posted its quarterly earnings data on Wednesday, April 19th. The industrial products company reported $0.72 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.70 by $0.02. The business had revenue of $1.90 billion during the quarter, compared to the consensus estimate of $1.89 billion. Crown Holdings had a return on equity of 83.94% and a net margin of 5.99%. The company’s revenue was up .4% compared to the same quarter last year. During the same period in the prior year, the company earned $0.69 earnings per share. Analysts predict that Crown Holdings, Inc. will post $3.95 earnings per share for the current year.
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A number of analysts recently commented on the stock. Zacks Investment Research cut shares of Crown Holdings from a “buy” rating to a “hold” rating in a research note on Tuesday. Jefferies Group LLC reiterated a “buy” rating and issued a $63.00 target price (up from $62.00) on shares of Crown Holdings in a research note on Friday, April 21st. Citigroup Inc reiterated a “buy” rating and issued a $63.00 target price (up from $62.00) on shares of Crown Holdings in a research note on Friday, April 14th. BMO Capital Markets reiterated a “buy” rating and issued a $65.00 target price on shares of Crown Holdings in a research note on Wednesday, April 12th. Finally, Credit Suisse Group AG set a $60.00 target price on shares of Crown Holdings and gave the stock a “hold” rating in a research note on Thursday, February 16th. Four research analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. The company presently has an average rating of “Buy” and an average target price of $61.89.
In related news, Director Jenne K. Britell sold 4,525 shares of the stock in a transaction on Monday, April 24th. The stock was sold at an average price of $55.65, for a total transaction of $251,816.25. Following the completion of the sale, the director now directly owns 50,038 shares of the company’s stock, valued at $2,784,614.70. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 1.80% of the stock is currently owned by corporate insiders.
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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