Crown Holdings, Inc. (CCK) Holdings Boosted by Miller Investment Management LP
Miller Investment Management LP boosted its position in Crown Holdings, Inc. (NYSE:CCK) by 141.1% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 39,176 shares of the industrial products company’s stock after buying an additional 22,926 shares during the quarter. Crown Holdings accounts for approximately 0.8% of Miller Investment Management LP’s holdings, making the stock its 12th biggest holding. Miller Investment Management LP’s holdings in Crown Holdings were worth $2,340,000 at the end of the most recent quarter.
A number of other hedge funds have also recently modified their holdings of the business. Teacher Retirement System of Texas acquired a new position in Crown Holdings in the 3rd quarter worth $646,000. Los Angeles Capital Management & Equity Research Inc. lifted its holdings in Crown Holdings by 283.5% in the 3rd quarter. Los Angeles Capital Management & Equity Research Inc. now owns 726,995 shares of the industrial products company’s stock worth $43,416,000 after buying an additional 537,416 shares in the last quarter. Toronto Dominion Bank lifted its holdings in Crown Holdings by 235.1% in the 3rd quarter. Toronto Dominion Bank now owns 5,747 shares of the industrial products company’s stock worth $343,000 after buying an additional 4,032 shares in the last quarter. New York State Common Retirement Fund lifted its holdings in Crown Holdings by 1.9% in the 3rd quarter. New York State Common Retirement Fund now owns 295,000 shares of the industrial products company’s stock worth $17,617,000 after buying an additional 5,500 shares in the last quarter. Finally, Sei Investments Co. lifted its holdings in Crown Holdings by 210.0% in the 3rd quarter. Sei Investments Co. now owns 109,148 shares of the industrial products company’s stock worth $6,518,000 after buying an additional 73,940 shares in the last quarter. Hedge funds and other institutional investors own 91.37% of the company’s stock.
A number of brokerages have recently issued reports on CCK. Zacks Investment Research upgraded shares of Crown Holdings from a “hold” rating to a “buy” rating and set a $68.00 target price on the stock in a research note on Thursday, September 21st. Deutsche Bank AG restated a “hold” rating and issued a $61.00 target price (up previously from $58.00) on shares of Crown Holdings in a research note on Tuesday, July 18th. Wells Fargo & Company upped their target price on shares of Crown Holdings from $57.00 to $60.00 and gave the company a “market perform” rating in a research note on Friday, October 20th. Barclays PLC upped their target price on shares of Crown Holdings from $69.00 to $70.00 and gave the company an “overweight” rating in a research note on Friday, October 20th. Finally, KeyCorp restated a “hold” rating on shares of Crown Holdings in a research note on Thursday, July 20th. One research analyst has rated the stock with a sell rating, six have given a hold rating and six have assigned a buy rating to the stock. The stock has an average rating of “Hold” and an average target price of $64.20.
Shares of Crown Holdings, Inc. (NYSE:CCK) traded up $0.30 during trading hours on Tuesday, hitting $59.45. 456,900 shares of the company were exchanged, compared to its average volume of 796,382. The company has a current ratio of 1.04, a quick ratio of 0.57 and a debt-to-equity ratio of 4.60. Crown Holdings, Inc. has a twelve month low of $51.57 and a twelve month high of $61.61. The company has a market cap of $7,942.24, a P/E ratio of 14.94, a PEG ratio of 2.10 and a beta of 1.44.
Crown Holdings (NYSE:CCK) last announced its quarterly earnings data on Wednesday, October 18th. The industrial products company reported $1.41 earnings per share for the quarter, meeting analysts’ consensus estimates of $1.41. Crown Holdings had a net margin of 5.64% and a return on equity of 60.44%. The business had revenue of $2.47 billion during the quarter, compared to the consensus estimate of $2.39 billion. During the same quarter in the prior year, the firm earned $1.33 EPS. The company’s revenue for the quarter was up 6.1% compared to the same quarter last year. analysts expect that Crown Holdings, Inc. will post 4.03 earnings per share for the current fiscal year.
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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