Envestnet Asset Management Inc. Has $2.93 Million Position in Crown Holdings, Inc. (CCK)
Envestnet Asset Management Inc. decreased its position in shares of Crown Holdings, Inc. (NYSE:CCK) by 2.1% during the third quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 48,987 shares of the industrial products company’s stock after selling 1,068 shares during the quarter. Envestnet Asset Management Inc.’s holdings in Crown were worth $2,925,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. Janus Henderson Group PLC lifted its stake in Crown by 6,932.0% in the 2nd quarter. Janus Henderson Group PLC now owns 6,536,851 shares of the industrial products company’s stock worth $389,988,000 after purchasing an additional 6,443,892 shares in the last quarter. Lazard Asset Management LLC lifted its stake in Crown by 8.7% in the 2nd quarter. Lazard Asset Management LLC now owns 10,225,857 shares of the industrial products company’s stock worth $610,074,000 after purchasing an additional 819,689 shares in the last quarter. Victory Capital Management Inc. lifted its stake in Crown by 17.1% in the 2nd quarter. Victory Capital Management Inc. now owns 4,005,148 shares of the industrial products company’s stock worth $238,947,000 after purchasing an additional 584,647 shares in the last quarter. Los Angeles Capital Management & Equity Research Inc. lifted its stake in Crown 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 purchasing an additional 537,416 shares in the last quarter. Finally, Quantitative Investment Management LLC purchased a new stake in Crown in the 2nd quarter worth $24,544,000. Institutional investors own 90.08% of the company’s stock.
CCK has been the topic of several research analyst reports. Zacks Investment Research upgraded shares of Crown from a “hold” rating to a “buy” rating and set a $68.00 price target on the stock in a research note on Thursday, September 21st. BMO Capital Markets reiterated a “buy” rating and issued 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 shares of Crown and gave the stock a “buy” rating in a research note on Monday, August 28th. KeyCorp reiterated a “hold” rating on shares of Crown in a research note on Thursday, October 19th. Finally, ValuEngine cut shares of Crown from a “buy” rating to a “hold” rating in a research note on Thursday, November 30th. One analyst has rated the stock with a sell rating, eight have given a hold rating and five have assigned a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and a consensus target price of $64.27.
Shares of Crown Holdings, Inc. (NYSE CCK) opened at $58.19 on Thursday. The company has a current ratio of 1.04, a quick ratio of 0.57 and a debt-to-equity ratio of 4.60. The stock has a market cap of $7,842.88, a PE ratio of 14.75, a PEG ratio of 2.07 and a beta of 1.42. Crown Holdings, Inc. has a 1 year low of $51.76 and a 1 year high of $61.61.
Crown (NYSE:CCK) last announced its earnings results on Wednesday, October 18th. The industrial products company reported $1.41 earnings per share (EPS) for the quarter, meeting the consensus estimate of $1.41. The firm had revenue of $2.47 billion for the quarter, compared to analysts’ expectations of $2.39 billion. Crown had a net margin of 5.64% and a return on equity of 60.44%. The business’s revenue was up 6.1% compared to the same quarter last year. During the same period in the prior year, the company earned $1.33 EPS. sell-side analysts anticipate that Crown Holdings, Inc. will post 4.03 earnings per share for the current fiscal year.
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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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