Creative Planning Raises Stake in Crown Holdings, Inc. (CCK)

Creative Planning raised its position in Crown Holdings, Inc. (NYSE:CCK) by 1.3% during the second quarter, according to its most recent 13F filing with the SEC. The firm owned 1,755 shares of the industrial products company’s stock after buying an additional 23 shares during the period. Creative Planning’s holdings in Crown Holdings were worth $105,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. Vanguard Group Inc. boosted its stake in shares of Crown Holdings by 3.9% in the first quarter. Vanguard Group Inc. now owns 11,951,527 shares of the industrial products company’s stock worth $632,833,000 after buying an additional 453,693 shares during the period. Lazard Asset Management LLC boosted its stake in shares of Crown Holdings by 11.9% in the first quarter. Lazard Asset Management LLC now owns 9,406,168 shares of the industrial products company’s stock worth $498,056,000 after buying an additional 997,113 shares during the period. Massachusetts Financial Services Co. MA boosted its stake in shares of Crown Holdings by 3.9% in the first quarter. Massachusetts Financial Services Co. MA now owns 9,079,572 shares of the industrial products company’s stock worth $480,762,000 after buying an additional 338,416 shares during the period. BlackRock Inc. boosted its stake in shares of Crown Holdings by 5,730.2% in the first quarter. BlackRock Inc. now owns 8,156,399 shares of the industrial products company’s stock worth $431,880,000 after buying an additional 8,016,500 shares during the period. Finally, Boston Partners boosted its stake in shares of Crown Holdings by 17.3% in the first quarter. Boston Partners now owns 5,496,044 shares of the industrial products company’s stock worth $291,016,000 after buying an additional 810,314 shares during the period. 92.98% of the stock is currently owned by institutional investors.

Crown Holdings, Inc. (NYSE:CCK) traded down 0.73% during mid-day trading on Thursday, hitting $58.19. 64,534 shares of the company were exchanged. The company has a market cap of $7.87 billion, a price-to-earnings ratio of 16.67 and a beta of 1.39. The stock’s 50 day moving average is $59.44 and its 200-day moving average is $56.13. Crown Holdings, Inc. has a 12-month low of $51.57 and a 12-month high of $60.96.

Crown Holdings (NYSE:CCK) last issued its quarterly earnings data on Wednesday, July 19th. The industrial products company reported $1.12 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.10 by $0.02. Crown Holdings had a return on equity of 66.28% and a net margin of 5.81%. The business had revenue of $2.16 billion during the quarter, compared to analyst estimates of $2.15 billion. During the same period in the previous year, the firm earned $1.19 EPS. Crown Holdings’s quarterly revenue was up .9% compared to the same quarter last year. Equities research analysts predict that Crown Holdings, Inc. will post $4.03 EPS for the current year.

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A number of analysts have weighed in on CCK shares. Vertical Research cut shares of Crown Holdings from a “buy” rating to a “hold” rating and increased their target price for the stock from $60.00 to $64.00 in a report on Friday, July 21st. ValuEngine raised shares of Crown Holdings from a “hold” rating to a “buy” rating in a report on Friday, June 30th. Zacks Investment Research cut shares of Crown Holdings from a “buy” rating to a “hold” rating in a report on Tuesday, May 16th. Jefferies Group LLC reaffirmed a “buy” rating on shares of Crown Holdings in a report on Wednesday, May 24th. Finally, BidaskClub raised shares of Crown Holdings from a “hold” rating to a “buy” rating in a report on Thursday, June 29th. One research analyst has rated the stock with a sell rating, five have given a hold rating and six have issued a buy rating to the company. The stock currently has a consensus rating of “Hold” and an average price target of $64.56.

In related news, VP David A. Beaver sold 1,000 shares of the business’s stock in a transaction that occurred on Friday, May 19th. The stock was sold at an average price of $56.05, for a total value of $56,050.00. Following the completion of the transaction, the vice president now directly owns 2,398 shares in the company, valued at approximately $134,407.90. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 1.80% of the stock is currently owned by insiders.

About Crown Holdings

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.

Institutional Ownership by Quarter for Crown Holdings (NYSE:CCK)

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