Cigna Investments Inc. New decreased its stake in shares of Crown Holdings, Inc. (NYSE:CCK) by 0.5% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 26,047 shares of the industrial products company’s stock after selling 121 shares during the period. Cigna Investments Inc. New’s holdings in Crown Holdings were worth $1,554,000 as of its most recent filing with the SEC.
Other hedge funds have also recently bought and sold shares of the company. Nine Chapters Capital Management LLC purchased a new stake in Crown Holdings during the second quarter worth approximately $298,000. Korea Investment CORP increased its stake in Crown Holdings by 232.4% in the second quarter. Korea Investment CORP now owns 45,200 shares of the industrial products company’s stock worth $2,697,000 after buying an additional 31,600 shares in the last quarter. Sei Investments Co. increased its stake in Crown Holdings by 183.9% in the second quarter. Sei Investments Co. now owns 35,208 shares of the industrial products company’s stock worth $2,101,000 after buying an additional 22,806 shares in the last quarter. CIBC Asset Management Inc increased its stake in Crown Holdings by 22.0% in the second quarter. CIBC Asset Management Inc now owns 16,987 shares of the industrial products company’s stock worth $1,013,000 after buying an additional 3,060 shares in the last quarter. Finally, Great West Life Assurance Co. Can increased its stake in Crown Holdings by 5.3% in the second quarter. Great West Life Assurance Co. Can now owns 49,565 shares of the industrial products company’s stock worth $2,954,000 after buying an additional 2,499 shares in the last quarter. 92.98% of the stock is currently owned by institutional investors.
Crown Holdings, Inc. (NYSE:CCK) traded down 0.26% during trading on Friday, hitting $57.69. The company had a trading volume of 344,964 shares. Crown Holdings, Inc. has a one year low of $51.57 and a one year high of $60.96. The stock has a market capitalization of $7.81 billion, a PE ratio of 16.53 and a beta of 1.39. The stock has a 50-day moving average of $59.36 and a 200-day moving average of $56.17.
Crown Holdings (NYSE:CCK) last issued its earnings results 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 net margin of 5.81% and a return on equity of 66.28%. The business had revenue of $2.16 billion during the quarter, compared to the consensus estimate of $2.15 billion. During the same period last year, the business posted $1.19 EPS. Crown Holdings’s revenue was up .9% on a year-over-year basis. On average, equities analysts anticipate that Crown Holdings, Inc. will post $4.03 EPS for the current year.
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A number of research firms have recently commented on CCK. Zacks Investment Research downgraded Crown Holdings from a “buy” rating to a “hold” rating in a research note on Tuesday, August 1st. BidaskClub cut Crown Holdings from a “hold” rating to a “sell” rating in a report on Monday, July 31st. Barclays PLC reiterated an “overweight” rating and set a $69.00 price target (up previously from $63.00) on shares of Crown Holdings in a report on Monday, July 24th. Vertical Research downgraded Crown Holdings from a “buy” rating to a “hold” rating and lifted their price target for the company from $60.00 to $64.00 in a report on Friday, July 21st. Finally, KeyCorp reiterated a “hold” rating on shares of Crown Holdings in a report on Thursday, July 20th. One analyst has rated the stock with a sell rating, five have assigned a hold rating and six have given a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and an average price target of $64.56.
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.
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