CI Global Investments Inc. increased its holdings in shares of Crown Holdings, Inc. (NYSE:CCK) by 1.8% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 573,961 shares of the industrial products company’s stock after purchasing an additional 10,266 shares during the quarter. CI Global Investments Inc. owned 0.43% of Crown Holdings worth $34,277,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Miller Investment Management LP grew its position in Crown Holdings by 141.1% in the 3rd quarter. Miller Investment Management LP now owns 39,176 shares of the industrial products company’s stock valued at $2,340,000 after acquiring an additional 22,926 shares in the last quarter. Teacher Retirement System of Texas acquired a new position in Crown Holdings in the 3rd quarter valued at about $646,000. Los Angeles Capital Management & Equity Research Inc. grew its position in Crown Holdings by 283.5% in the 3rd quarter. Los Angeles Capital Management & Equity Research Inc. now owns 726,995 shares of the industrial products company’s stock valued at $43,416,000 after acquiring an additional 537,416 shares in the last quarter. Toronto Dominion Bank grew its position in Crown Holdings by 235.1% in the 3rd quarter. Toronto Dominion Bank now owns 5,747 shares of the industrial products company’s stock valued at $343,000 after acquiring an additional 4,032 shares in the last quarter. Finally, New York State Common Retirement Fund grew its position in Crown Holdings by 1.9% in the 3rd quarter. New York State Common Retirement Fund now owns 295,000 shares of the industrial products company’s stock valued at $17,617,000 after acquiring an additional 5,500 shares in the last quarter. 91.37% of the stock is owned by institutional investors.
Crown Holdings, Inc. (NYSE CCK) traded up $0.30 during mid-day trading on Tuesday, reaching $59.45. The company had a trading volume of 456,900 shares, compared to its average volume of 796,382. The stock has a market capitalization of $7,942.24, a PE ratio of 14.94, a price-to-earnings-growth ratio of 2.10 and a beta of 1.44. Crown Holdings, Inc. has a 12-month low of $51.57 and a 12-month high of $61.61. The company has a debt-to-equity ratio of 4.60, a quick ratio of 0.57 and a current ratio of 1.04.
Crown Holdings (NYSE:CCK) last posted its earnings results on Wednesday, October 18th. The industrial products company reported $1.41 earnings per share for the quarter, hitting the consensus estimate of $1.41. The firm had revenue of $2.47 billion during the quarter, compared to analysts’ expectations of $2.39 billion. Crown Holdings had a return on equity of 60.44% and a net margin of 5.64%. The firm’s revenue was up 6.1% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.33 earnings per share. research analysts predict that Crown Holdings, Inc. will post 4.03 EPS for the current fiscal year.
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Several equities analysts have weighed in on CCK shares. BMO Capital Markets reaffirmed a “buy” rating and issued a $65.00 target price on shares of Crown Holdings in a research report on Monday, September 4th. Deutsche Bank AG reaffirmed a “hold” rating and issued a $61.00 target price (up from $58.00) on shares of Crown Holdings in a research report on Tuesday, July 18th. Zacks Investment Research downgraded Crown Holdings from a “buy” rating to a “hold” rating in a research report on Tuesday, August 1st. Wells Fargo & Company boosted their price objective on Crown Holdings from $57.00 to $60.00 and gave the stock a “market perform” rating in a research report on Friday, October 20th. Finally, Barclays PLC boosted their price objective on Crown Holdings from $69.00 to $70.00 and gave the stock an “overweight” rating in a research report on Friday, October 20th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and six have assigned a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and an average target price of $64.20.
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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