Kistler Tiffany Companies LLC acquired a new stake in shares of Crown Holdings, Inc. (NYSE:CCK) in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 8,915 shares of the industrial products company’s stock, valued at approximately $589,000.
A number of other large investors also recently added to or reduced their stakes in CCK. EdgePoint Investment Group Inc. raised its stake in Crown by 25.3% during the 2nd quarter. EdgePoint Investment Group Inc. now owns 9,097,806 shares of the industrial products company’s stock valued at $555,876,000 after acquiring an additional 1,837,020 shares in the last quarter. BlackRock Inc. raised its stake in Crown by 1.5% during the 2nd quarter. BlackRock Inc. now owns 7,475,845 shares of the industrial products company’s stock valued at $456,774,000 after acquiring an additional 108,593 shares in the last quarter. JPMorgan Chase & Co. raised its stake in Crown by 21.9% during the 2nd quarter. JPMorgan Chase & Co. now owns 7,166,386 shares of the industrial products company’s stock valued at $425,970,000 after acquiring an additional 1,285,895 shares in the last quarter. Janus Henderson Group PLC raised its stake in Crown by 1.9% during the 2nd quarter. Janus Henderson Group PLC now owns 6,763,834 shares of the industrial products company’s stock valued at $413,270,000 after acquiring an additional 129,159 shares in the last quarter. Finally, Nuveen Asset Management LLC bought a new stake in Crown during the 2nd quarter valued at $288,769,000. Institutional investors and hedge funds own 96.16% of the company’s stock.
In other news, COO Gerard H. Gifford sold 10,000 shares of the business’s stock in a transaction on Tuesday, August 13th. The stock was sold at an average price of $67.92, for a total value of $679,200.00. Following the sale, the chief operating officer now owns 152,292 shares of the company’s stock, valued at approximately $10,343,672.64. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 1.90% of the stock is currently owned by insiders.
Crown (NYSE:CCK) last posted its quarterly earnings data on Wednesday, October 16th. The industrial products company reported $1.56 EPS for the quarter, missing the Zacks’ consensus estimate of $1.57 by ($0.01). Crown had a return on equity of 41.91% and a net margin of 4.10%. The firm had revenue of $3.08 billion during the quarter, compared to the consensus estimate of $3.19 billion. During the same period in the prior year, the firm posted $1.71 EPS. The firm’s quarterly revenue was down 2.8% on a year-over-year basis. On average, equities research analysts forecast that Crown Holdings, Inc. will post 5.02 EPS for the current fiscal year.
CCK has been the topic of several recent analyst reports. Zacks Investment Research raised Crown from a “sell” rating to a “hold” rating and set a $67.00 target price on the stock in a research note on Tuesday, September 10th. Morgan Stanley lifted their target price on Crown from $56.00 to $72.00 and gave the company an “equal weight” rating in a research note on Wednesday. Deutsche Bank lifted their target price on Crown from $65.00 to $75.00 and gave the company a “buy” rating in a research note on Friday. They noted that the move was a valuation call. JPMorgan Chase & Co. lifted their target price on Crown from $68.00 to $75.00 and gave the company an “overweight” rating in a research note on Thursday, September 26th. Finally, KeyCorp reaffirmed a “hold” rating on shares of Crown in a research note on Thursday. One analyst has rated the stock with a sell rating, three have given a hold rating and eight have given a buy rating to the stock. The company presently has an average rating of “Buy” and an average price target of $69.70.
Crown Holdings, Inc designs, manufactures, and sells packaging products and equipment for consumer goods and industrial products in the Americas, Europe, and the Asia Pacific. It offers products for consumer goods, including steel and aluminum cans for food, beverage, household, and other consumer products; glass bottles for beverage product; and metal vacuum closures and steel crowns through its sales organization to the soft drink, food, citrus, brewing, household products, personal care, and various other industries.
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