Cooke & Bieler LP Reduces Stake in Crown Holdings Inc. (CCK)
Cooke & Bieler LP decreased its position in Crown Holdings Inc. (NYSE:CCK) by 0.7% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,951,498 shares of the company’s stock after selling 13,030 shares during the period. Crown Holdings makes up 2.2% of Cooke & Bieler LP’s investment portfolio, making the stock its 11th largest position. Cooke & Bieler LP owned approximately 1.41% of Crown Holdings worth $98,882,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors have also recently bought and sold shares of the company. BlackRock Japan Co. Ltd increased its position in Crown Holdings by 1.1% in the first quarter. BlackRock Japan Co. Ltd now owns 166,452 shares of the company’s stock worth $8,254,000 after buying an additional 1,870 shares during the period. Renaissance Technologies LLC increased its position in Crown Holdings by 2,239.6% in the first quarter. Renaissance Technologies LLC now owns 779,100 shares of the company’s stock worth $38,636,000 after buying an additional 745,800 shares during the period. Magnetar Financial LLC purchased a new position in Crown Holdings during the first quarter worth $389,000. First Manhattan Co. increased its position in Crown Holdings by 2.9% in the second quarter. First Manhattan Co. now owns 3,089 shares of the company’s stock worth $156,000 after buying an additional 88 shares during the period. Finally, Marshall & Sullivan Inc. WA increased its position in Crown Holdings by 1.8% in the first quarter. Marshall & Sullivan Inc. WA now owns 54,671 shares of the company’s stock worth $2,711,000 after buying an additional 984 shares during the period. 88.82% of the stock is currently owned by institutional investors and hedge funds.
Shares of Crown Holdings Inc. (NYSE:CCK) traded up 0.22% during trading on Monday, reaching $55.38. The company’s stock had a trading volume of 995,303 shares. Crown Holdings Inc. has a one year low of $43.30 and a one year high of $57.46. The firm’s 50-day moving average price is $55.04 and its 200-day moving average price is $53.06. The company has a market capitalization of $7.67 billion, a price-to-earnings ratio of 16.99 and a beta of 1.32.
Crown Holdings (NYSE:CCK) last released its earnings results on Wednesday, July 20th. The company reported $1.19 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.11 by $0.08. Crown Holdings had a net margin of 5.34% and a return on equity of 106.65%. The firm earned $2.14 billion during the quarter, compared to analyst estimates of $2.24 billion. During the same period last year, the business earned $1.03 earnings per share. The business’s revenue was down 6.0% on a year-over-year basis. On average, equities analysts anticipate that Crown Holdings Inc. will post $3.93 earnings per share for the current year.
Several brokerages have recently commented on CCK. Jefferies Group increased their price objective on Crown Holdings from $62.00 to $63.00 and gave the stock a “buy” rating in a research note on Thursday, July 14th. RBC Capital Markets began coverage on Crown Holdings in a research note on Thursday, September 29th. They issued an “outperform” rating and a $65.00 price objective for the company. Zacks Investment Research raised Crown Holdings from a “sell” rating to a “hold” rating in a research note on Friday, July 22nd. Barclays PLC increased their price objective on Crown Holdings from $62.00 to $64.00 and gave the stock an “overweight” rating in a research note on Monday, July 25th. Finally, Credit Suisse Group AG set a $58.00 price objective on Crown Holdings and gave the stock a “hold” rating in a research note on Tuesday, July 19th. One analyst has rated the stock with a sell rating, five have given a hold rating and ten have given a buy rating to the company. The company has an average rating of “Buy” and a consensus target price of $60.38.
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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