Wells Fargo & Company MN cut its holdings in Crown Holdings, Inc. (NYSE:CCK) by 4.6% during the third quarter, Holdings Channel reports. The fund owned 792,071 shares of the industrial products company’s stock after selling 37,780 shares during the period. Wells Fargo & Company MN’s holdings in Crown were worth $38,021,000 at the end of the most recent quarter.
A number of other hedge funds have also made changes to their positions in CCK. Tower Research Capital LLC TRC bought a new position in shares of Crown during the second quarter worth $187,000. Pennsylvania Trust Co bought a new position in shares of Crown during the third quarter worth $202,000. Oppenheimer Asset Management Inc. bought a new position in shares of Crown during the second quarter worth $218,000. Cornerstone Wealth Management LLC bought a new position in shares of Crown during the second quarter worth $220,000. Finally, Iberiabank Corp bought a new position in shares of Crown during the third quarter worth $240,000.
Shares of CCK stock opened at $47.67 on Friday. The company has a current ratio of 1.14, a quick ratio of 0.68 and a debt-to-equity ratio of 6.82. Crown Holdings, Inc. has a 1 year low of $40.09 and a 1 year high of $62.27. The firm has a market capitalization of $6.54 billion, a price-to-earnings ratio of 11.83, a price-to-earnings-growth ratio of 1.33 and a beta of 1.41.
A number of equities research analysts recently commented on the stock. Zacks Investment Research upgraded shares of Crown from a “sell” rating to a “hold” rating in a report on Monday, August 13th. ValuEngine lowered shares of Crown from a “sell” rating to a “strong sell” rating in a report on Friday, October 26th. TheStreet lowered shares of Crown from a “b-” rating to a “c+” rating in a report on Friday, October 26th. KeyCorp restated a “hold” rating on shares of Crown in a report on Thursday, October 18th. Finally, Bank of America raised their price objective on shares of Crown from $51.00 to $57.00 and gave the stock a “hold” rating in a report on Monday, September 24th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and eight have given a buy rating to the company. The stock currently has an average rating of “Buy” and a consensus price target of $60.56.
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Crown Holdings, Inc designs, manufactures, and sells packaging products for consumer goods in the Americas, Europe, and the Asia Pacific. Its primary products include steel and aluminum cans for food, beverage, household, and other consumer products; glass bottles for beverage products; and metal vacuum closures, steel crowns and caps.
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