Scopus Asset Management L.P. Lowers Holdings in Crown Holdings, Inc. (NYSE:CCK)

Scopus Asset Management L.P. cut its position in Crown Holdings, Inc. (NYSE:CCK) by 41.4% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 255,000 shares of the industrial products company’s stock after selling 180,000 shares during the quarter. Scopus Asset Management L.P. owned about 0.19% of Crown worth $24,745,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently bought and sold shares of CCK. Norges Bank purchased a new stake in Crown in the 4th quarter worth approximately $124,947,000. BlackRock Inc. raised its position in shares of Crown by 16.1% during the 1st quarter. BlackRock Inc. now owns 7,910,869 shares of the industrial products company’s stock valued at $767,670,000 after buying an additional 1,098,475 shares in the last quarter. Amundi Pioneer Asset Management Inc. raised its position in shares of Crown by 174.0% during the 4th quarter. Amundi Pioneer Asset Management Inc. now owns 1,255,615 shares of the industrial products company’s stock valued at $125,811,000 after buying an additional 797,424 shares in the last quarter. Nuveen Asset Management LLC raised its position in shares of Crown by 22.8% during the 4th quarter. Nuveen Asset Management LLC now owns 3,805,363 shares of the industrial products company’s stock valued at $381,297,000 after buying an additional 707,418 shares in the last quarter. Finally, The PNC Financial Services Group Inc. raised its position in shares of Crown by 4,591.0% during the 1st quarter. The PNC Financial Services Group Inc. now owns 578,916 shares of the industrial products company’s stock valued at $56,180,000 after buying an additional 566,575 shares in the last quarter. Institutional investors and hedge funds own 86.89% of the company’s stock.

In other news, Director John W. Conway sold 334 shares of Crown stock in a transaction dated Wednesday, April 28th. The shares were sold at an average price of $109.76, for a total transaction of $36,659.84. Following the sale, the director now owns 1,031,377 shares of the company’s stock, valued at approximately $113,203,939.52. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Hock Huat Goh sold 4,625 shares of Crown stock in a transaction dated Wednesday, April 28th. The shares were sold at an average price of $109.82, for a total transaction of $507,917.50. Following the transaction, the insider now directly owns 53,607 shares of the company’s stock, valued at $5,887,120.74. The disclosure for this sale can be found here. Insiders have sold a total of 10,095 shares of company stock worth $1,128,027 in the last ninety days. Insiders own 1.90% of the company’s stock.

Several analysts have recently weighed in on the stock. Longbow Research assumed coverage on shares of Crown in a research report on Thursday, May 20th. They set a “buy” rating and a $152.00 price objective on the stock. Deutsche Bank Aktiengesellschaft raised their price objective on shares of Crown from $120.00 to $136.00 and gave the company a “buy” rating in a research report on Wednesday, April 21st. Wells Fargo & Company increased their target price on shares of Crown from $125.00 to $132.00 and gave the company an “overweight” rating in a report on Thursday, April 22nd. They noted that the move was a valuation call. JPMorgan Chase & Co. increased their target price on shares of Crown from $110.00 to $120.00 and gave the company an “overweight” rating in a report on Wednesday, April 21st. They noted that the move was a valuation call. Finally, The Goldman Sachs Group started coverage on shares of Crown in a report on Friday, April 9th. They set a “neutral” rating and a $108.00 target price on the stock. Three analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and a consensus price target of $118.40.

Crown stock traded down $2.01 during trading hours on Thursday, reaching $99.77. The stock had a trading volume of 10,091 shares, compared to its average volume of 999,232. The stock has a market cap of $13.46 billion, a PE ratio of 19.46, a PEG ratio of 3.00 and a beta of 1.17. Crown Holdings, Inc. has a 52 week low of $70.10 and a 52 week high of $114.55. The company has a current ratio of 1.23, a quick ratio of 0.74 and a debt-to-equity ratio of 2.80. The company’s fifty day simple moving average is $103.49.

Crown (NYSE:CCK) last announced its earnings results on Sunday, July 18th. The industrial products company reported $2.14 earnings per share for the quarter, beating analysts’ consensus estimates of $1.78 by $0.36. The firm had revenue of $2.86 billion for the quarter, compared to analyst estimates of $2.94 billion. Crown had a net margin of 5.84% and a return on equity of 38.77%. The company’s revenue for the quarter was up 6.2% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.33 EPS. Research analysts predict that Crown Holdings, Inc. will post 6.85 EPS for the current year.

About Crown

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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Institutional Ownership by Quarter for Crown (NYSE:CCK)

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