Korea Investment CORP Decreases Holdings in Crown Holdings, Inc. (CCK)

Korea Investment CORP lessened its holdings in Crown Holdings, Inc. (NYSE:CCK) by 79.9% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 19,183 shares of the industrial products company’s stock after selling 76,300 shares during the quarter. Korea Investment CORP’s holdings in Crown were worth $921,000 at the end of the most recent quarter.

A number of other institutional investors have also added to or reduced their stakes in CCK. Columbia Asset Management acquired a new position in Crown in the third quarter worth $110,000. Tower Research Capital LLC TRC acquired a new position in Crown in the second quarter worth $187,000. Pennsylvania Trust Co acquired a new position in Crown in the third quarter worth $202,000. Oppenheimer Asset Management Inc. acquired a new position in shares of Crown during the second quarter valued at $218,000. Finally, Cornerstone Wealth Management LLC acquired a new position in shares of Crown during the second quarter valued at $220,000.

Several equities analysts have recently issued reports on CCK shares. Zacks Investment Research raised shares of Crown from a “sell” rating to a “hold” rating in a report on Thursday, October 18th. Citigroup boosted their price target on shares of Crown from $59.00 to $60.00 and gave the company a “buy” rating in a report on Friday, October 19th. Bank of America raised shares of Crown from a “neutral” rating to a “buy” rating and set a $62.00 price target for the company in a report on Friday, November 9th. Credit Suisse Group raised shares of Crown from a “neutral” rating to an “outperform” rating and boosted their price target for the company from $53.00 to $57.00 in a report on Monday, November 12th. Finally, ValuEngine raised shares of Crown from a “strong sell” rating to a “sell” rating in a report on Wednesday, November 7th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and eight have issued a buy rating to the stock. The company has an average rating of “Buy” and an average target price of $60.56.

Shares of CCK opened at $48.00 on Friday. Crown Holdings, Inc. has a 1 year low of $40.09 and a 1 year high of $62.27. The firm has a market cap of $6.49 billion, a PE ratio of 11.91, a PEG ratio of 1.32 and a beta of 1.47. The company has a debt-to-equity ratio of 6.82, a current ratio of 1.14 and a quick ratio of 0.68.

Crown (NYSE:CCK) last posted its quarterly earnings data on Wednesday, October 17th. The industrial products company reported $1.71 earnings per share for the quarter, topping the consensus estimate of $1.65 by $0.06. The business had revenue of $3.17 billion during the quarter, compared to the consensus estimate of $3.17 billion. Crown had a net margin of 2.81% and a return on equity of 59.62%. The company’s quarterly revenue was up 28.6% compared to the same quarter last year. During the same quarter in the prior year, the company posted $1.46 earnings per share. On average, analysts anticipate that Crown Holdings, Inc. will post 5.2 earnings per share for the current year.

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Crown Profile

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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Institutional Ownership by Quarter for Crown (NYSE:CCK)

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