Crown Holdings, Inc. (CCK) Stake Increased by Commonwealth Bank of Australia
Commonwealth Bank of Australia grew its position in Crown Holdings, Inc. (NYSE:CCK) by 42.9% during the third quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 16,000 shares of the industrial products company’s stock after buying an additional 4,800 shares during the period. Commonwealth Bank of Australia’s holdings in Crown were worth $949,000 at the end of the most recent quarter.
Other large investors have also recently added to or reduced their stakes in the company. Toronto Dominion Bank boosted its holdings in shares of Crown by 12.1% in the 2nd quarter. Toronto Dominion Bank now owns 1,715 shares of the industrial products company’s stock valued at $102,000 after buying an additional 185 shares in the last quarter. Creative Planning boosted its holdings in shares of Crown by 1.3% in the 2nd quarter. Creative Planning now owns 1,755 shares of the industrial products company’s stock valued at $105,000 after buying an additional 23 shares in the last quarter. Oakbrook Investments LLC bought a new stake in shares of Crown in the 3rd quarter valued at about $207,000. ETRADE Capital Management LLC bought a new stake in shares of Crown in the 3rd quarter valued at about $223,000. Finally, Acrospire Investment Management LLC boosted its holdings in shares of Crown by 1,990.5% in the 2nd quarter. Acrospire Investment Management LLC now owns 4,181 shares of the industrial products company’s stock valued at $249,000 after buying an additional 3,981 shares in the last quarter. Institutional investors and hedge funds own 90.08% of the company’s stock.
A number of analysts have recently weighed in on CCK shares. Jefferies Group set a $70.00 price target on shares of Crown and gave the company a “buy” rating in a report on Monday, August 28th. BMO Capital Markets restated a “buy” rating and issued a $65.00 price target on shares of Crown in a report on Monday, September 4th. Zacks Investment Research upgraded shares of Crown from a “hold” rating to a “buy” rating and set a $68.00 target price for the company in a research note on Thursday, September 21st. KeyCorp reiterated a “hold” rating on shares of Crown in a research note on Tuesday, October 3rd. Finally, Wells Fargo & Company lifted their target price on shares of Crown from $57.00 to $60.00 and gave the stock a “market perform” rating in a research note on Friday, October 20th. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating and five have given a buy rating to the stock. The stock has an average rating of “Hold” and an average price target of $64.27.
Crown Holdings, Inc. (NYSE:CCK) traded down $0.42 during mid-day trading on Thursday, reaching $59.34. 517,700 shares of the company were exchanged, compared to its average volume of 776,914. The firm has a market cap of $7,970.00, a PE ratio of 15.09, a PEG ratio of 2.12 and a beta of 1.42. The company has a quick ratio of 0.57, a current ratio of 1.04 and a debt-to-equity ratio of 4.60. Crown Holdings, Inc. has a one year low of $51.70 and a one year high of $61.61.
Crown (NYSE:CCK) last released its earnings results on Wednesday, October 18th. The industrial products company reported $1.41 EPS for the quarter, hitting analysts’ consensus estimates of $1.41. The company had revenue of $2.47 billion during the quarter, compared to analysts’ expectations of $2.39 billion. Crown had a net margin of 5.64% and a return on equity of 60.44%. Crown’s revenue for the quarter was up 6.1% on a year-over-year basis. During the same period last year, the business earned $1.33 EPS. sell-side analysts anticipate that Crown Holdings, Inc. will post 4.03 earnings per share for the current year.
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Crown 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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