First Trust Advisors LP Sells 47,784 Shares of Crown Holdings, Inc. (NYSE:CCK)

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First Trust Advisors LP reduced its stake in Crown Holdings, Inc. (NYSE:CCK) by 28.4% during the first quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 120,651 shares of the industrial products company’s stock after selling 47,784 shares during the period. First Trust Advisors LP owned approximately 0.09% of Crown worth $7,003,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. M&T Bank Corp increased its holdings in Crown by 1.3% in the 4th quarter. M&T Bank Corp now owns 14,647 shares of the industrial products company’s stock valued at $1,063,000 after acquiring an additional 187 shares during the last quarter. Simon Quick Advisors LLC increased its holdings in Crown by 50.0% in the 1st quarter. Simon Quick Advisors LLC now owns 714 shares of the industrial products company’s stock valued at $41,000 after acquiring an additional 238 shares during the last quarter. Mesirow Financial Investment Management Equity Management increased its holdings in Crown by 0.9% in the 1st quarter. Mesirow Financial Investment Management Equity Management now owns 26,795 shares of the industrial products company’s stock valued at $1,555,000 after acquiring an additional 240 shares during the last quarter. Nissay Asset Management Corp Japan ADV increased its holdings in Crown by 2.0% in the 4th quarter. Nissay Asset Management Corp Japan ADV now owns 13,106 shares of the industrial products company’s stock valued at $951,000 after acquiring an additional 251 shares during the last quarter. Finally, Synovus Financial Corp increased its holdings in shares of Crown by 125.7% in the 1st quarter. Synovus Financial Corp now owns 456 shares of the industrial products company’s stock worth $27,000 after buying an additional 254 shares during the last quarter. Institutional investors own 88.05% of the company’s stock.

A number of analysts have recently weighed in on CCK shares. Morgan Stanley reduced their target price on shares of Crown from $78.00 to $63.00 and set an “equal weight” rating on the stock in a report on Wednesday, March 18th. Robert W. Baird boosted their target price on shares of Crown from $75.00 to $100.00 and gave the stock an “outperform” rating in a report on Thursday, February 6th. They noted that the move was a valuation call. Wells Fargo & Co reduced their target price on shares of Crown from $87.00 to $75.00 and set an “overweight” rating on the stock in a report on Friday, April 17th. Barclays boosted their target price on shares of Crown from $88.00 to $91.00 and gave the stock an “overweight” rating in a report on Thursday, February 6th. Finally, ValuEngine downgraded shares of Crown from a “hold” rating to a “sell” rating in a report on Friday, May 1st. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and nine have assigned a buy rating to the company. Crown has a consensus rating of “Buy” and an average target price of $78.82.

CCK stock opened at $62.12 on Friday. Crown Holdings, Inc. has a 12 month low of $42.97 and a 12 month high of $80.57. The company has a current ratio of 1.31, a quick ratio of 0.80 and a debt-to-equity ratio of 4.28. The company has a 50-day moving average price of $60.60 and a 200 day moving average price of $68.84. The stock has a market cap of $8.37 billion, a PE ratio of 16.93, a P/E/G ratio of 2.48 and a beta of 1.27.

Crown (NYSE:CCK) last released its quarterly earnings results on Monday, April 20th. The industrial products company reported $1.13 EPS for the quarter, topping analysts’ consensus estimates of $0.92 by $0.21. Crown had a net margin of 4.24% and a return on equity of 35.65%. The firm had revenue of $2.76 billion during the quarter, compared to analysts’ expectations of $2.73 billion. During the same period in the previous year, the company earned $1.05 EPS. The firm’s revenue for the quarter was up .1% compared to the same quarter last year. Sell-side analysts forecast that Crown Holdings, Inc. will post 5.01 EPS for the current year.

Crown announced that its board has initiated a stock repurchase plan on Tuesday, March 10th that authorizes the company to repurchase $250.00 million in shares. This repurchase authorization authorizes the industrial products company to repurchase up to 3.2% of its shares through open market purchases. Shares repurchase plans are often an indication that the company’s board of directors believes its shares are undervalued.

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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