Hsbc Holdings PLC decreased its holdings in Crown Holdings, Inc. (NYSE:CCK) by 8.1% in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 230,396 shares of the industrial products company’s stock after selling 20,236 shares during the quarter. Hsbc Holdings PLC owned about 0.17% of Crown worth $11,046,000 as of its most recent SEC filing.
Other institutional investors have also bought and sold shares of the company. Columbia Asset Management acquired a new stake in Crown during the 3rd quarter worth about $110,000. Tower Research Capital LLC TRC acquired a new stake in Crown during the 2nd quarter worth about $187,000. Pennsylvania Trust Co acquired a new stake in Crown during the 3rd quarter worth about $202,000. Oppenheimer Asset Management Inc. acquired a new stake in Crown during the 2nd quarter worth about $218,000. Finally, Cornerstone Wealth Management LLC acquired a new stake in Crown during the 2nd quarter worth about $220,000.
A number of brokerages have commented on CCK. Zacks Investment Research raised Crown from a “sell” rating to a “hold” rating in a research report on Friday, October 5th. ValuEngine cut Crown from a “sell” rating to a “strong sell” rating in a research report on Friday, October 26th. Bank of America lifted their price target on Crown from $51.00 to $57.00 and gave the stock a “hold” rating in a research report on Monday, September 24th. KeyCorp reaffirmed a “hold” rating on shares of Crown in a research report on Thursday, October 18th. Finally, Wells Fargo & Co raised Crown from a “market perform” rating to an “outperform” rating and set a $60.00 price target for the company in a research report on Monday, October 22nd. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and eight have issued a buy rating to the company. The stock presently has a consensus rating of “Buy” and an average target price of $60.56.
Shares of CCK stock opened at $51.40 on Tuesday. The stock has a market capitalization of $6.93 billion, a PE ratio of 10.28, a P/E/G ratio of 1.41 and a beta of 1.46. The company has a quick ratio of 0.68, a current ratio of 1.14 and a debt-to-equity ratio of 6.82. Crown Holdings, Inc. has a 52-week low of $40.09 and a 52-week high of $62.27.
Crown (NYSE:CCK) last issued its quarterly earnings data on Wednesday, October 17th. The industrial products company reported $1.71 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.65 by $0.06. The business had revenue of $3.17 billion during the quarter, compared to analysts’ expectations of $3.17 billion. Crown had a return on equity of 59.62% and a net margin of 2.81%. The company’s revenue for the quarter was up 28.6% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.46 EPS. As a group, equities research analysts expect that Crown Holdings, Inc. will post 5.2 earnings per share for the current fiscal year.
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Crown Holdings, Inc designs, manufactures, and sells packaging products for consumer goods in the Americas, Europe, and the Asia Pacific. Its primary products include steel and aluminum cans for food, beverage, household, and other consumer products; glass bottles for beverage products; and metal vacuum closures, steel crowns and caps.
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