California State Teachers Retirement System Raises Position in Crown Holdings, Inc. (CCK)

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California State Teachers Retirement System increased its stake in shares of Crown Holdings, Inc. (NYSE:CCK) by 2.4% in the fourth quarter, Holdings Channel reports. The fund owned 206,695 shares of the industrial products company’s stock after purchasing an additional 4,750 shares during the period. California State Teachers Retirement System’s holdings in Crown were worth $8,592,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. Vanguard Group Inc. lifted its position in Crown by 1.2% during the third quarter. Vanguard Group Inc. now owns 11,991,072 shares of the industrial products company’s stock valued at $575,572,000 after purchasing an additional 137,867 shares during the last quarter. Vanguard Group Inc lifted its position in Crown by 1.2% during the third quarter. Vanguard Group Inc now owns 11,991,072 shares of the industrial products company’s stock valued at $575,572,000 after purchasing an additional 137,867 shares during the last quarter. BlackRock Inc. lifted its position in Crown by 2.4% during the third quarter. BlackRock Inc. now owns 7,739,341 shares of the industrial products company’s stock valued at $371,487,000 after purchasing an additional 183,173 shares during the last quarter. CI Global Investments Inc. lifted its position in Crown by 7.9% during the third quarter. CI Global Investments Inc. now owns 7,396,847 shares of the industrial products company’s stock valued at $355,049,000 after purchasing an additional 542,104 shares during the last quarter. Finally, FMR LLC lifted its position in Crown by 66.3% during the third quarter. FMR LLC now owns 5,846,001 shares of the industrial products company’s stock valued at $280,608,000 after purchasing an additional 2,330,692 shares during the last quarter.

Several equities research analysts have recently weighed in on CCK shares. TheStreet raised shares of Crown from a “c+” rating to a “b-” rating in a research note on Friday, March 1st. Deutsche Bank set a $60.00 target price on shares of Crown and gave the company a “buy” rating in a research note on Friday, February 8th. Credit Suisse Group reissued a “buy” rating and issued a $57.00 target price on shares of Crown in a research note on Friday, December 7th. Citigroup reduced their target price on shares of Crown from $60.00 to $54.00 and set a “buy” rating on the stock in a research note on Monday, January 7th. Finally, Morgan Stanley started coverage on shares of Crown in a research note on Wednesday, January 16th. They issued an “equal weight” rating and a $49.00 target price on the stock. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and eight have issued a buy rating to the stock. The stock presently has a consensus rating of “Buy” and an average price target of $59.27.

In related news, VP David A. Beaver sold 10,000 shares of the firm’s stock in a transaction dated Friday, February 15th. The shares were sold at an average price of $53.24, for a total value of $532,400.00. Following the transaction, the vice president now owns 21,417 shares of the company’s stock, valued at approximately $1,140,241.08. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Director John W. Conway sold 129,000 shares of the firm’s stock in a transaction dated Tuesday, February 12th. The stock was sold at an average price of $53.51, for a total transaction of $6,902,790.00. Following the completion of the transaction, the director now directly owns 1,155,464 shares in the company, valued at approximately $61,828,878.64. The disclosure for this sale can be found here. Company insiders own 1.80% of the company’s stock.

Shares of CCK opened at $55.91 on Friday. Crown Holdings, Inc. has a twelve month low of $39.05 and a twelve month high of $55.94. The firm has a market capitalization of $7.40 billion, a PE ratio of 10.52, a PEG ratio of 1.47 and a beta of 1.66. The company has a current ratio of 1.04, a quick ratio of 0.61 and a debt-to-equity ratio of 6.62.

Crown (NYSE:CCK) last announced its earnings results on Wednesday, February 6th. The industrial products company reported $1.00 earnings per share for the quarter, meeting the Thomson Reuters’ consensus estimate of $1.00. Crown had a net margin of 3.94% and a return on equity of 57.46%. The business had revenue of $2.73 billion for the quarter, compared to the consensus estimate of $2.81 billion. During the same quarter in the prior year, the firm posted $0.79 earnings per share. The business’s revenue for the quarter was up 26.1% on a year-over-year basis. On average, equities research analysts predict that Crown Holdings, Inc. will post 5.31 earnings per share for the current year.

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Crown Company Profile

Crown Holdings, Inc designs, manufactures, and sells packaging products and equipment for consumer goods and industrial products in the Americas, Europe, and the Asia Pacific. It offers products for consumer goods, including steel and aluminum cans for food, beverage, household, and other consumer products; glass bottles for beverage product; and metal vacuum closures and steel crowns through its sales organization to the soft drink, food, citrus, brewing, household products, personal care, and various other industries.

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Institutional Ownership by Quarter for Crown (NYSE:CCK)

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