Alliancebernstein L.P. Trims Holdings in Crown Holdings, Inc. (CCK)
Alliancebernstein L.P. trimmed its stake in Crown Holdings, Inc. (NYSE:CCK) by 13.3% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 84,280 shares of the industrial products company’s stock after selling 12,937 shares during the quarter. Alliancebernstein L.P. owned about 0.06% of Crown Holdings worth $5,028,000 as of its most recent SEC filing.
A number of other large investors also recently bought and sold shares of the business. UBS Asset Management Americas Inc. increased its holdings in shares of Crown Holdings by 10.2% during the first quarter. UBS Asset Management Americas Inc. now owns 345,513 shares of the industrial products company’s stock valued at $18,295,000 after acquiring an additional 31,972 shares in the last quarter. Sei Investments Co. raised its holdings in Crown Holdings by 15.9% during the first quarter. Sei Investments Co. now owns 12,402 shares of the industrial products company’s stock worth $657,000 after buying an additional 1,702 shares during the last quarter. Raymond James Financial Services Advisors Inc. raised its holdings in Crown Holdings by 41.2% during the first quarter. Raymond James Financial Services Advisors Inc. now owns 5,552 shares of the industrial products company’s stock worth $294,000 after buying an additional 1,620 shares during the last quarter. Aberdeen Asset Management PLC UK acquired a new position in Crown Holdings during the first quarter worth $654,000. Finally, M&T Bank Corp raised its holdings in Crown Holdings by 5.2% during the first quarter. M&T Bank Corp now owns 10,248 shares of the industrial products company’s stock worth $542,000 after buying an additional 505 shares during the last quarter. Institutional investors and hedge funds own 90.12% of the company’s stock.
Shares of Crown Holdings, Inc. (NYSE:CCK) opened at 59.72 on Monday. The firm has a 50-day moving average of $58.77 and a 200-day moving average of $57.04. The company has a market capitalization of $8.08 billion, a P/E ratio of 17.11 and a beta of 1.40. Crown Holdings, Inc. has a 12 month low of $51.57 and a 12 month high of $61.39.
Crown Holdings (NYSE:CCK) last announced its quarterly earnings data on Wednesday, July 19th. The industrial products company reported $1.12 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.10 by $0.02. The company had revenue of $2.16 billion for the quarter, compared to the consensus estimate of $2.15 billion. Crown Holdings had a net margin of 5.81% and a return on equity of 66.28%. Crown Holdings’s revenue for the quarter was up .9% on a year-over-year basis. During the same period in the prior year, the firm posted $1.19 EPS. On average, equities analysts predict that Crown Holdings, Inc. will post $4.03 earnings per share for the current year.
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 $65.00 price objective for the company in a report on Tuesday, June 6th. BidaskClub lowered shares of Crown Holdings from a “buy” rating to a “hold” rating in a report on Thursday, July 13th. Jefferies Group LLC set a $70.00 target price on shares of Crown Holdings and gave the stock a “buy” rating in a report on Monday, August 28th. Deutsche Bank AG reaffirmed a “hold” rating and issued a $61.00 price target (up previously from $58.00) on shares of Crown Holdings in a research report on Tuesday, July 18th. Finally, Royal Bank Of Canada reaffirmed a “buy” rating and issued a $62.00 price target on shares of Crown Holdings in a research report on Wednesday, July 12th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and six have given a buy rating to the company. Crown Holdings presently has an average rating of “Hold” and an average price target of $64.67.
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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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