Nissay Asset Management Corp Japan ADV grew its stake in shares of Crown Holdings, Inc. (NYSE:CCK) by 4.6% in the second quarter, according to its most recent disclosure with the SEC. The fund owned 14,031 shares of the industrial products company’s stock after buying an additional 615 shares during the period. Nissay Asset Management Corp Japan ADV’s holdings in Crown were worth $914,000 as of its most recent filing with the SEC.
Several other institutional investors and hedge funds also recently made changes to their positions in CCK. Norges Bank acquired a new stake in shares of Crown during the fourth quarter worth $101,258,000. JPMorgan Chase & Co. boosted its position in shares of Crown by 14.4% in the first quarter. JPMorgan Chase & Co. now owns 7,456,034 shares of the industrial products company’s stock valued at $432,748,000 after acquiring an additional 935,962 shares during the period. Maverick Capital Ltd. boosted its position in shares of Crown by 23.2% in the first quarter. Maverick Capital Ltd. now owns 3,486,509 shares of the industrial products company’s stock valued at $202,357,000 after acquiring an additional 656,156 shares during the period. Jennison Associates LLC bought a new position in shares of Crown in the first quarter valued at approximately $35,234,000. Finally, Alyeska Investment Group L.P. boosted its position in shares of Crown by 112.4% in the first quarter. Alyeska Investment Group L.P. now owns 726,805 shares of the industrial products company’s stock valued at $42,184,000 after acquiring an additional 384,682 shares during the period. 89.43% of the stock is owned by institutional investors and hedge funds.
CCK has been the subject of a number of analyst reports. Citigroup raised their price objective on shares of Crown from $78.00 to $82.00 and gave the company a “buy” rating in a research report on Wednesday, July 22nd. Jefferies Financial Group assumed coverage on shares of Crown in a research report on Monday, July 13th. They issued a “buy” rating and a $80.00 price objective for the company. Barclays reiterated a “buy” rating on shares of Crown in a research report on Thursday, July 23rd. Deutsche Bank lifted their target price on shares of Crown from $76.00 to $80.00 and gave the company a “buy” rating in a research report on Wednesday, July 22nd. Finally, JPMorgan Chase & Co. dropped their target price on shares of Crown from $87.00 to $83.00 and set an “overweight” rating for the company in a research report on Wednesday, April 15th. Two equities research analysts have rated the stock with a sell rating, two have issued a hold rating and ten have given a buy rating to the stock. The company currently has an average rating of “Buy” and a consensus target price of $80.75.
Crown (NYSE:CCK) last posted its quarterly earnings results on Monday, July 20th. The industrial products company reported $1.33 EPS for the quarter, topping the consensus estimate of $1.31 by $0.02. The firm had revenue of $2.69 billion for the quarter, compared to the consensus estimate of $2.76 billion. Crown had a net margin of 4.28% and a return on equity of 32.53%. The business’s revenue was down 11.4% compared to the same quarter last year. During the same period last year, the firm posted $1.46 earnings per share. On average, research analysts predict that Crown Holdings, Inc. will post 5.19 EPS for the current year.
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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