Pioneer Investment Management Inc. reduced its stake in shares of Crown Holdings, Inc. (NYSE:CCK) by 25.1% during the second quarter, according to its most recent filing with the SEC. The firm owned 462,895 shares of the industrial products company’s stock after selling 155,050 shares during the period. Pioneer Investment Management Inc.’s holdings in Crown Holdings were worth $27,616,000 at the end of the most recent quarter.
A number of other institutional investors have also made changes to their positions in the stock. Creative Planning boosted its position in shares of Crown Holdings by 1.3% in the second quarter. Creative Planning now owns 1,755 shares of the industrial products company’s stock valued at $105,000 after buying an additional 23 shares during the last quarter. Cadence Capital Management LLC acquired a new position in shares of Crown Holdings during the first quarter valued at $200,000. Daiwa Securities Group Inc. boosted its position in shares of Crown Holdings by 14.7% in the first quarter. Daiwa Securities Group Inc. now owns 3,900 shares of the industrial products company’s stock valued at $207,000 after buying an additional 500 shares during the last quarter. Two Sigma Securities LLC acquired a new position in shares of Crown Holdings during the first quarter valued at $207,000. Finally, Bronfman E.L. Rothschild L.P. boosted its position in shares of Crown Holdings by 13.0% in the first quarter. Bronfman E.L. Rothschild L.P. now owns 4,268 shares of the industrial products company’s stock valued at $226,000 after buying an additional 492 shares during the last quarter. 92.46% of the stock is currently owned by institutional investors and hedge funds.
Shares of Crown Holdings, Inc. (CCK) opened at 58.60 on Thursday. The stock has a market cap of $7.93 billion, a price-to-earnings ratio of 16.79 and a beta of 1.39. Crown Holdings, Inc. has a 1-year low of $51.57 and a 1-year high of $60.96. The firm has a 50-day moving average of $59.40 and a 200 day moving average of $55.97.
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, topping the consensus estimate of $1.10 by $0.02. The firm had revenue of $2.16 billion for the quarter, compared to the consensus estimate of $2.15 billion. Crown Holdings had a net margin of 5.81% and a return on equity of 66.28%. The business’s revenue was up .9% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.19 earnings per share. Equities research analysts forecast that Crown Holdings, Inc. will post $4.03 earnings per share for the current year.
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Several brokerages recently weighed in on CCK. Zacks Investment Research raised shares of Crown Holdings from a “hold” rating to a “buy” rating and set a $65.00 price target on the stock in a research report on Tuesday, June 6th. BidaskClub cut shares of Crown Holdings from a “buy” rating to a “hold” rating in a research report on Thursday, July 13th. BMO Capital Markets reaffirmed a “buy” rating and issued a $65.00 price target on shares of Crown Holdings in a research report on Wednesday, April 12th. Deutsche Bank AG reaffirmed a “hold” rating and issued a $61.00 price target (up previously from $58.00) on shares of Crown Holdings in a research report on Tuesday, July 18th. Finally, Royal Bank Of Canada reaffirmed a “buy” rating and issued a $62.00 price target on shares of Crown Holdings in a research report on Wednesday, July 12th. 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 stock. The company presently has an average rating of “Hold” and a consensus target price of $64.56.
In other news, VP David A. Beaver sold 1,000 shares of the company’s stock in a transaction that occurred on Friday, May 19th. The shares were sold at an average price of $56.05, for a total value of $56,050.00. Following the transaction, the vice president now owns 2,398 shares in the company, valued at $134,407.90. The sale was disclosed in a legal filing with the SEC, which is available at this link. Corporate insiders own 1.80% of the company’s stock.
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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