Neuberger Berman Group LLC Purchases 302,595 Shares of Crown Holdings, Inc. (CCK)
Neuberger Berman Group LLC lifted its position in Crown Holdings, Inc. (NYSE:CCK) by 17.0% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,078,991 shares of the industrial products company’s stock after acquiring an additional 302,595 shares during the quarter. Neuberger Berman Group LLC owned 1.55% of Crown worth $124,157,000 as of its most recent SEC filing.
Other hedge funds have also recently added to or reduced their stakes in the company. Toronto Dominion Bank raised its holdings in shares of Crown by 12.1% in the second quarter. Toronto Dominion Bank now owns 1,715 shares of the industrial products company’s stock valued at $102,000 after acquiring an additional 185 shares in the last quarter. Creative Planning raised its holdings in shares of Crown by 1.3% in the second quarter. Creative Planning now owns 1,755 shares of the industrial products company’s stock valued at $105,000 after acquiring an additional 23 shares in the last quarter. Ladenburg Thalmann Financial Services Inc. raised its holdings in shares of Crown by 40.6% in the third quarter. Ladenburg Thalmann Financial Services Inc. now owns 2,988 shares of the industrial products company’s stock valued at $179,000 after acquiring an additional 863 shares in the last quarter. First Republic Investment Management Inc. bought a new stake in shares of Crown in the third quarter valued at about $205,000. Finally, Oakbrook Investments LLC bought a new stake in shares of Crown in the third quarter valued at about $207,000. Hedge funds and other institutional investors own 90.08% of the company’s stock.
Crown Holdings, Inc. (NYSE CCK) opened at $57.41 on Friday. Crown Holdings, Inc. has a 52 week low of $51.76 and a 52 week high of $61.61. The company has a quick ratio of 0.57, a current ratio of 1.04 and a debt-to-equity ratio of 4.60. The stock has a market capitalization of $7,813.34, a PE ratio of 14.69, a price-to-earnings-growth ratio of 2.06 and a beta of 1.42.
Several analysts recently weighed in on CCK shares. Zacks Investment Research upgraded Crown from a “hold” rating to a “buy” rating and set a $68.00 price objective for the company in a report on Thursday, September 21st. BMO Capital Markets restated a “buy” rating and issued a $65.00 price objective on shares of Crown in a report on Monday, September 4th. Jefferies Group set a $70.00 price objective on Crown and gave the company a “buy” rating in a report on Monday, August 28th. KeyCorp restated a “hold” rating on shares of Crown in a report on Thursday, October 19th. Finally, ValuEngine downgraded Crown from a “buy” rating to a “hold” rating in a report on Thursday, November 30th. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating and five have issued a buy rating to the company. The company presently has an average rating of “Hold” and an average target price of $64.27.
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Crown Company Profile
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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