Pinebridge Investments L.P. cut its stake in Crown Holdings, Inc. (NYSE:CCK) by 9.4% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 230,727 shares of the industrial products company’s stock after selling 23,931 shares during the period. Pinebridge Investments L.P. owned 0.17% of Crown worth $12,978,000 as of its most recent filing with the Securities and Exchange Commission.
Other hedge funds and other institutional investors also recently made changes to their positions in the company. Toronto Dominion Bank boosted its holdings in shares of Crown by 12.1% in the second 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 during the period. Ladenburg Thalmann Financial Services Inc. increased its position in Crown by 40.6% during the third quarter. Ladenburg Thalmann Financial Services Inc. now owns 2,988 shares of the industrial products company’s stock worth $179,000 after acquiring an additional 863 shares during the period. First Republic Investment Management Inc. bought a new position in Crown during the third quarter worth about $205,000. Oakbrook Investments LLC acquired a new stake in Crown during the third quarter worth about $207,000. Finally, ETRADE Capital Management LLC acquired a new stake in Crown during the third quarter worth about $223,000. 83.97% of the stock is owned by institutional investors.
A number of brokerages have issued reports on CCK. ValuEngine downgraded shares of Crown from a “buy” rating to a “hold” rating in a research note on Friday, February 9th. TheStreet downgraded shares of Crown from a “b” rating to a “c” rating in a research note on Thursday, February 8th. Zacks Investment Research downgraded shares of Crown from a “hold” rating to a “sell” rating in a research note on Monday, January 29th. UBS Group assumed coverage on shares of Crown in a report on Wednesday, November 29th. They issued a “neutral” rating and a $65.00 price objective for the company. Finally, KeyCorp reiterated a “hold” rating on shares of Crown in a report on Tuesday, December 19th. Two investment analysts have rated the stock with a sell rating, five have issued a hold rating and six have given a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $64.70.
Shares of Crown Holdings, Inc. (NYSE CCK) traded up $0.38 during trading on Thursday, reaching $50.69. The company had a trading volume of 1,114,532 shares, compared to its average volume of 1,968,771. Crown Holdings, Inc. has a fifty-two week low of $50.14 and a fifty-two week high of $62.27. The company has a market cap of $6,791.66, a PE ratio of 12.52, a P/E/G ratio of 1.64 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 (NYSE:CCK) last announced its quarterly earnings data on Wednesday, February 7th. The industrial products company reported $0.79 earnings per share (EPS) for the quarter, meeting the Zacks’ consensus estimate of $0.79. Crown had a return on equity of 56.47% and a net margin of 3.71%. The business had revenue of $2.17 billion for the quarter, compared to analysts’ expectations of $2.02 billion. During the same period in the previous year, the business posted $0.71 EPS. The firm’s quarterly revenue was up 12.7% compared to the same quarter last year. research analysts predict that Crown Holdings, Inc. will post 4.41 earnings per share for the current fiscal 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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