Traynor Capital Management Inc. Holds Position in Crown Holdings, Inc. (CCK)
Traynor Capital Management Inc. held its stake in shares of Crown Holdings, Inc. (NYSE:CCK) during the second quarter, Holdings Channel reports. The fund owned 14,685 shares of the industrial products company’s stock at the end of the second quarter. Traynor Capital Management Inc.’s holdings in Crown Holdings were worth $876,000 as of its most recent filing with the SEC.
Other hedge funds have also recently modified their holdings of the company. Creative Planning boosted its stake in shares of Crown Holdings 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 buying an additional 23 shares during the period. Cadence Capital Management LLC purchased a new stake in shares of Crown Holdings during the first quarter valued at $200,000. Daiwa Securities Group Inc. boosted its stake in shares of Crown Holdings by 14.7% in the first quarter. Daiwa Securities Group Inc. now owns 3,900 shares of the industrial products company’s stock valued at $207,000 after buying an additional 500 shares during the period. Two Sigma Securities LLC purchased a new stake in shares of Crown Holdings during the first quarter valued at $207,000. Finally, Bronfman E.L. Rothschild L.P. boosted its stake in shares of Crown Holdings by 13.0% in the first quarter. Bronfman E.L. Rothschild L.P. now owns 4,268 shares of the industrial products company’s stock valued at $226,000 after buying an additional 492 shares during the period. 92.46% of the stock is currently owned by hedge funds and other institutional investors.
Shares of Crown Holdings, Inc. (NYSE:CCK) traded down 0.12% during trading on Friday, hitting $58.07. 20,519 shares of the stock were exchanged. Crown Holdings, Inc. has a one year low of $51.57 and a one year high of $60.96. The stock has a market cap of $7.86 billion, a PE ratio of 16.63 and a beta of 1.39. The stock’s 50 day moving average price is $59.41 and its 200 day moving average price is $55.99.
Crown Holdings (NYSE:CCK) last posted its quarterly earnings results on Wednesday, July 19th. The industrial products company reported $1.12 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.10 by $0.02. The business had revenue of $2.16 billion for the quarter, compared to analyst estimates of $2.15 billion. Crown Holdings had a return on equity of 66.28% and a net margin of 5.81%. The business’s revenue was up .9% compared to the same quarter last year. During the same period in the prior year, the company posted $1.19 EPS. Equities research analysts predict that Crown Holdings, Inc. will post $4.03 EPS for the current year.
CCK has been the topic of several analyst reports. Zacks Investment Research raised shares of Crown Holdings from a “hold” rating to a “buy” rating and set a $65.00 target price on the stock in a report on Tuesday, June 6th. Royal Bank Of Canada reaffirmed a “buy” rating and issued a $62.00 target price on shares of Crown Holdings in a report on Monday, June 5th. Jefferies Group LLC reaffirmed a “buy” rating on shares of Crown Holdings in a report on Wednesday, May 24th. Citigroup Inc. reaffirmed a “buy” rating and issued a $63.00 target price (up previously from $62.00) on shares of Crown Holdings in a report on Friday, April 14th. Finally, BidaskClub cut shares of Crown Holdings from a “strong-buy” rating to a “buy” rating in a report on Saturday, June 10th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and six have assigned a buy rating to the company’s stock. Crown Holdings presently has an average rating of “Hold” and an average price target of $64.56.
In related news, VP David A. Beaver sold 1,000 shares of the company’s stock in a transaction that occurred on Friday, May 19th. The stock was sold at an average price of $56.05, for a total transaction of $56,050.00. Following the sale, the vice president now directly owns 2,398 shares of the company’s stock, valued at approximately $134,407.90. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 1.80% of the company’s stock.
Crown Holdings 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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