Crown Holdings, Inc. (CCK) Shares Sold by Wells Fargo & Company MN
Wells Fargo & Company MN reduced its stake in shares of Crown Holdings, Inc. (NYSE:CCK) by 35.6% during the 3rd quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 804,626 shares of the industrial products company’s stock after selling 445,144 shares during the period. Wells Fargo & Company MN owned approximately 0.60% of Crown worth $48,053,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors also recently modified their holdings of the company. Toronto Dominion Bank boosted its position in shares of Crown by 12.1% during the 2nd quarter. Toronto Dominion Bank now owns 1,715 shares of the industrial products company’s stock worth $102,000 after purchasing an additional 185 shares in the last quarter. Creative Planning boosted its position in shares of Crown by 1.3% during the 2nd quarter. Creative Planning now owns 1,755 shares of the industrial products company’s stock worth $105,000 after purchasing an additional 23 shares in the last quarter. Oakbrook Investments LLC purchased a new stake in shares of Crown during the 3rd quarter worth $207,000. ETRADE Capital Management LLC purchased a new stake in shares of Crown during the 3rd quarter worth $223,000. Finally, Acrospire Investment Management LLC boosted its position in shares of Crown by 1,990.5% during the 2nd quarter. Acrospire Investment Management LLC now owns 4,181 shares of the industrial products company’s stock worth $249,000 after purchasing an additional 3,981 shares in the last quarter. Institutional investors own 90.08% of the company’s stock.
Several equities research analysts have commented on CCK shares. Zacks Investment Research upgraded shares of Crown from a “hold” rating to a “buy” rating and set a $68.00 target price on the stock in a research report on Thursday, September 21st. BMO Capital Markets reaffirmed a “buy” rating and set a $65.00 price target on shares of Crown in a research note on Monday, September 4th. Jefferies Group set a $70.00 price target on Crown and gave the stock a “buy” rating in a research note on Monday, August 28th. KeyCorp reaffirmed a “hold” rating on shares of Crown in a research note on Thursday, October 19th. Finally, ValuEngine downgraded Crown from a “buy” rating to a “hold” rating in a research note on Thursday, November 30th. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating and five have assigned a buy rating to the company. Crown presently has a consensus rating of “Hold” and an average price target of $64.27.
Crown Holdings, Inc. (NYSE CCK) opened at $58.80 on Friday. The stock has a market capitalization of $7,895.25, a price-to-earnings ratio of 14.85, a PEG ratio of 2.09 and a beta of 1.42. The company has a debt-to-equity ratio of 4.60, a quick ratio of 0.57 and a current ratio of 1.04. Crown Holdings, Inc. has a one year low of $51.76 and a one year high of $61.61.
Crown (NYSE:CCK) last released its quarterly earnings results on Wednesday, October 18th. The industrial products company reported $1.41 earnings per share (EPS) for the quarter, hitting the consensus estimate of $1.41. The business had revenue of $2.47 billion during the quarter, compared to the consensus estimate of $2.39 billion. Crown had a return on equity of 60.44% and a net margin of 5.64%. The business’s revenue was up 6.1% on a year-over-year basis. During the same quarter in the previous year, the company posted $1.33 EPS. research analysts forecast that Crown Holdings, Inc. will post 4.03 earnings per share for the current fiscal year.
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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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