Zurcher Kantonalbank Zurich Cantonalbank cut its position in shares of Crown Holdings, Inc. (NYSE:CCK) by 2.5% during the 3rd quarter, Holdings Channel reports. The firm owned 43,636 shares of the industrial products company’s stock after selling 1,116 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Crown were worth $2,095,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other institutional investors and hedge funds have also recently made changes to their positions in the stock. Columbia Asset Management purchased a new stake in shares of Crown during the 3rd quarter worth about $110,000. Tower Research Capital LLC TRC purchased a new stake in shares of Crown during the 2nd quarter worth about $187,000. Pennsylvania Trust Co purchased a new stake in shares of Crown during the 3rd quarter worth about $202,000. Oppenheimer Asset Management Inc. purchased a new stake in shares of Crown during the 2nd quarter worth about $218,000. Finally, Levin Capital Strategies L.P. purchased a new stake in shares of Crown during the 3rd quarter worth about $240,000.
Shares of CCK stock opened at $50.05 on Wednesday. The company has a current ratio of 1.14, a quick ratio of 0.68 and a debt-to-equity ratio of 6.82. Crown Holdings, Inc. has a twelve month low of $40.09 and a twelve month high of $62.27. The company has a market capitalization of $6.93 billion, a P/E ratio of 12.42, a P/E/G ratio of 1.41 and a beta of 1.47.
Crown (NYSE:CCK) last issued its quarterly earnings data on Wednesday, October 17th. The industrial products company reported $1.71 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.65 by $0.06. Crown had a return on equity of 59.62% and a net margin of 2.81%. The business had revenue of $3.17 billion for the quarter, compared to the consensus estimate of $3.17 billion. During the same period last year, the business earned $1.46 EPS. The firm’s revenue was up 28.6% compared to the same quarter last year. On average, research analysts forecast that Crown Holdings, Inc. will post 5.2 EPS for the current year.
A number of equities research analysts have recently weighed in on CCK shares. 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 note on Monday, October 22nd. Bank of America raised their price target on Crown from $51.00 to $57.00 and gave the stock a “hold” rating in a research note on Monday, September 24th. Citigroup raised their price target on Crown from $59.00 to $60.00 and gave the stock a “buy” rating in a research note on Friday, October 19th. TheStreet downgraded Crown from a “b-” rating to a “c+” rating in a research note on Friday, October 26th. Finally, KeyCorp reissued a “hold” rating on shares of Crown in a research note on Thursday, October 18th. One 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. Crown presently has an average rating of “Buy” and a consensus price target of $60.56.
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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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