Fmr LLC Boosts Stake in Crown Holdings, Inc. (CCK)

Fmr LLC raised its stake in Crown Holdings, Inc. (NYSE:CCK) by 197.5% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 86,077 shares of the industrial products company’s stock after acquiring an additional 57,143 shares during the quarter. Fmr LLC owned approximately 0.06% of Crown Holdings worth $5,135,000 as of its most recent SEC filing.

Several other hedge funds also recently bought and sold shares of the company. Lazard Asset Management LLC lifted its holdings in shares of Crown Holdings by 8.7% in the second quarter. Lazard Asset Management LLC now owns 10,225,857 shares of the industrial products company’s stock worth $610,074,000 after acquiring an additional 819,689 shares during the last quarter. Boston Partners lifted its holdings in shares of Crown Holdings by 1.2% in the second quarter. Boston Partners now owns 5,560,782 shares of the industrial products company’s stock worth $331,756,000 after acquiring an additional 64,738 shares during the last quarter. Victory Capital Management Inc. lifted its holdings in shares of Crown Holdings by 17.1% in the second quarter. Victory Capital Management Inc. now owns 4,005,148 shares of the industrial products company’s stock worth $238,947,000 after acquiring an additional 584,647 shares during the last quarter. State Street Corp lifted its holdings in shares of Crown Holdings by 1.0% in the first quarter. State Street Corp now owns 2,569,174 shares of the industrial products company’s stock worth $136,030,000 after acquiring an additional 26,533 shares during the last quarter. Finally, Neuberger Berman Group LLC lifted its holdings in shares of Crown Holdings by 3.3% in the second quarter. Neuberger Berman Group LLC now owns 1,776,396 shares of the industrial products company’s stock worth $105,980,000 after acquiring an additional 57,124 shares during the last quarter. 90.76% of the stock is owned by hedge funds and other institutional investors.

Crown Holdings, Inc. (NYSE:CCK) opened at $60.42 on Friday. The company has a current ratio of 1.04, a quick ratio of 0.55 and a debt-to-equity ratio of 4.60. The firm has a market cap of $8.04 billion, a PE ratio of 15.12, a P/E/G ratio of 2.12 and a beta of 1.44.

Crown Holdings (NYSE:CCK) last released its quarterly earnings data on Wednesday, October 18th. The industrial products company reported $1.41 EPS for the quarter, hitting analysts’ consensus estimates of $1.41. The company had revenue of $2.47 billion during the quarter, compared to the consensus estimate of $2.39 billion. Crown Holdings had a net margin of 5.64% and a return on equity of 60.44%. The firm’s revenue for the quarter was up 6.1% compared to the same quarter last year. During the same period last year, the firm earned $1.33 EPS. equities analysts expect that Crown Holdings, Inc. will post 4.03 earnings per share for the current year.

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A number of research firms have recently commented on CCK. Wells Fargo & Company increased their target price on shares of Crown Holdings from $57.00 to $60.00 and gave the stock a “market perform” rating in a report on Friday, October 20th. Zacks Investment Research cut shares of Crown Holdings from a “buy” rating to a “hold” rating in a report on Tuesday, August 1st. Jefferies Group LLC reissued a “buy” rating and issued a $70.00 target price (up previously from $63.00) on shares of Crown Holdings in a report on Friday, July 14th. Deutsche Bank AG reiterated a “hold” rating and issued a $61.00 price objective (up previously from $58.00) on shares of Crown Holdings in a report on Tuesday, July 18th. Finally, KeyCorp reiterated a “hold” rating on shares of Crown Holdings in a report on Tuesday, October 3rd. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and six have assigned a buy rating to the stock. The stock has an average rating of “Hold” and an average price target of $64.20.

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

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