Amundi Asset Management US Inc. boosted its stake in Crown Holdings, Inc. (NYSE:CCK) by 9.6% in the 1st quarter, according to its most recent filing with the SEC. The fund owned 1,376,573 shares of the industrial products company’s stock after purchasing an additional 120,958 shares during the period. Amundi Asset Management US Inc. owned about 1.02% of Crown worth $133,584,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also recently made changes to their positions in the business. Penserra Capital Management LLC purchased a new position in shares of Crown during the fourth quarter worth $28,000. Signaturefd LLC lifted its stake in Crown by 108.5% during the 1st quarter. Signaturefd LLC now owns 367 shares of the industrial products company’s stock worth $36,000 after acquiring an additional 191 shares in the last quarter. Allred Capital Management LLC purchased a new position in Crown during the 1st quarter valued at about $36,000. Cullen Frost Bankers Inc. acquired a new position in Crown in the 1st quarter valued at about $58,000. Finally, O Shaughnessy Asset Management LLC increased its stake in Crown by 30.1% during the first quarter. O Shaughnessy Asset Management LLC now owns 692 shares of the industrial products company’s stock worth $67,000 after purchasing an additional 160 shares during the period. 86.89% of the stock is currently owned by institutional investors.
NYSE:CCK opened at $101.78 on Thursday. Crown Holdings, Inc. has a 1 year low of $70.10 and a 1 year high of $114.55. The firm has a market cap of $13.73 billion, a PE ratio of 19.46, a P/E/G ratio of 3.00 and a beta of 1.17. 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 business’s 50-day simple moving average is $103.49.
In other Crown news, Director John W. Conway sold 334 shares of the firm’s stock in a transaction dated Wednesday, April 28th. The stock was sold at an average price of $109.76, for a total transaction of $36,659.84. Following the transaction, the director now owns 1,031,377 shares of the company’s stock, valued at $113,203,939.52. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Hock Huat Goh sold 4,625 shares of Crown stock in a transaction dated Wednesday, April 28th. The stock was sold at an average price of $109.82, for a total value of $507,917.50. Following the sale, the insider now owns 53,607 shares in the company, valued at approximately $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 valued at $1,128,027 in the last 90 days. Insiders own 1.90% of the company’s stock.
Several research analysts have recently commented on CCK shares. The Goldman Sachs Group assumed coverage on shares of Crown in a research note on Friday, April 9th. They issued a “neutral” rating and a $108.00 price objective for the company. JPMorgan Chase & Co. boosted their price target on shares of Crown from $110.00 to $120.00 and gave the stock an “overweight” rating in a research note on Wednesday, April 21st. They noted that the move was a valuation call. Wells Fargo & Company upped their price objective on Crown from $125.00 to $132.00 and gave the stock an “overweight” rating in a research report on Thursday, April 22nd. They noted that the move was a valuation call. Jefferies Financial Group lifted their target price on Crown from $123.00 to $134.00 and gave the company a “buy” rating in a report on Thursday, April 15th. Finally, Morgan Stanley boosted their target price on Crown from $122.00 to $129.00 and gave the stock an “overweight” rating in a research note on Thursday, April 22nd. Three analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. The stock presently has a consensus rating of “Buy” and a consensus price target of $118.40.
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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