Grand Jean Capital Management Inc. lowered its position in Crown Holdings, Inc. (NYSE:CCK) by 42.6% in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 94,330 shares of the industrial products company’s stock after selling 69,972 shares during the period. Crown comprises 2.3% of Grand Jean Capital Management Inc.’s holdings, making the stock its 16th largest position. Grand Jean Capital Management Inc. owned 0.07% of Crown worth $5,764,000 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. Advisory Services Network LLC bought a new position in Crown during the 1st quarter worth about $32,000. Oakworth Capital Inc. bought a new position in Crown during the 2nd quarter worth about $42,000. Rockefeller Capital Management L.P. increased its holdings in Crown by 53.2% during the 2nd quarter. Rockefeller Capital Management L.P. now owns 691 shares of the industrial products company’s stock worth $42,000 after purchasing an additional 240 shares in the last quarter. First Personal Financial Services increased its holdings in Crown by 73.7% during the 2nd quarter. First Personal Financial Services now owns 1,002 shares of the industrial products company’s stock worth $61,000 after purchasing an additional 425 shares in the last quarter. Finally, Advisory Alpha LLC bought a new position in Crown during the 1st quarter worth about $118,000. Institutional investors and hedge funds own 96.19% of the company’s stock.
In related news, COO Gerard H. Gifford sold 10,000 shares of the firm’s stock in a transaction dated Tuesday, August 13th. The shares were sold at an average price of $67.92, for a total value of $679,200.00. Following the completion of the sale, the chief operating officer now directly owns 152,292 shares in the company, valued at approximately $10,343,672.64. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 1.90% of the company’s stock.
CCK has been the subject of a number of research reports. Zacks Investment Research upgraded Crown from a “sell” rating to a “hold” rating and set a $67.00 target price for the company in a report on Tuesday. Citigroup set a $75.00 target price on Crown and gave the stock a “buy” rating in a report on Tuesday. Wells Fargo & Co set a $70.00 target price on Crown and gave the stock a “hold” rating in a report on Friday, May 17th. Robert W. Baird set a $65.00 target price on Crown and gave the stock a “buy” rating in a report on Friday, July 19th. Finally, ValuEngine upgraded Crown from a “hold” rating to a “buy” rating in a report on Wednesday, July 31st. Four investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. Crown currently has a consensus rating of “Buy” and an average target price of $64.56.
Shares of NYSE CCK traded up $0.08 during mid-day trading on Friday, hitting $64.84. The company had a trading volume of 2,795 shares, compared to its average volume of 1,025,570. The company has a market capitalization of $8.80 billion, a PE ratio of 12.42, a price-to-earnings-growth ratio of 1.78 and a beta of 1.57. The firm has a 50-day simple moving average of $65.29 and a two-hundred day simple moving average of $59.75. The company has a current ratio of 1.17, a quick ratio of 0.66 and a debt-to-equity ratio of 5.13. Crown Holdings, Inc. has a one year low of $39.05 and a one year high of $68.84.
Crown (NYSE:CCK) last announced its quarterly earnings data on Wednesday, July 17th. The industrial products company reported $1.46 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $1.49 by ($0.03). The company had revenue of $3.04 billion during the quarter, compared to the consensus estimate of $3.04 billion. Crown had a net margin of 3.91% and a return on equity of 48.36%. Crown’s revenue was down .4% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.55 EPS. Sell-side analysts expect that Crown Holdings, Inc. will post 5.09 earnings per share for the current fiscal year.
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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