Southpoint Capital Advisors LP Increases Stock Position in Crown Holdings, Inc. (NYSE:CCK)

Southpoint Capital Advisors LP grew its position in Crown Holdings, Inc. (NYSE:CCK) by 7.1% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,500,000 shares of the industrial products company’s stock after purchasing an additional 100,000 shares during the period. Crown comprises about 2.4% of Southpoint Capital Advisors LP’s portfolio, making the stock its 18th largest position. Southpoint Capital Advisors LP’s holdings in Crown were worth $145,560,000 at the end of the most recent reporting period.

Several other hedge funds have also recently made changes to their positions in CCK. Marshall Wace LLP purchased a new stake in shares of Crown in the first quarter valued at about $321,000. First Trust Advisors LP raised its holdings in shares of Crown by 2.5% in the first quarter. First Trust Advisors LP now owns 75,709 shares of the industrial products company’s stock valued at $4,131,000 after purchasing an additional 1,844 shares during the last quarter. Los Angeles Capital Management LLC purchased a new stake in shares of Crown in the fourth quarter valued at about $2,382,000. FIL Ltd increased its holdings in Crown by 5.5% during the fourth quarter. FIL Ltd now owns 3,579 shares of the industrial products company’s stock worth $359,000 after buying an additional 186 shares during the last quarter. Finally, Vontobel Holding Ltd. purchased a new stake in Crown during the fourth quarter worth about $233,000. Institutional investors own 86.89% of the company’s stock.

A number of research firms recently issued reports on CCK. Wells Fargo & Company raised their price objective on shares of Crown from $125.00 to $132.00 and gave the stock an “overweight” rating in a report on Thursday, April 22nd. They noted that the move was a valuation call. BMO Capital Markets downgraded shares of Crown from an “outperform” rating to a “market perform” rating and decreased their price objective for the stock from $125.00 to $110.00 in a report on Wednesday, May 26th. The Goldman Sachs Group began coverage on shares of Crown in a report on Friday, April 9th. They set a “neutral” rating and a $108.00 price objective for the company. JPMorgan Chase & Co. raised their price objective on shares of Crown from $110.00 to $120.00 and gave the stock an “overweight” rating in a report on Wednesday, April 21st. They noted that the move was a valuation call. Finally, Deutsche Bank Aktiengesellschaft increased their target price on shares of Crown from $120.00 to $136.00 and gave the stock a “buy” rating in a research report on Wednesday, April 21st. Three analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. Crown currently has an average rating of “Buy” and an average target price of $118.40.

Shares of CCK stock traded down $2.07 during trading hours on Thursday, reaching $99.71. The stock had a trading volume of 9,298 shares, compared to its average volume of 999,232. The stock has a fifty day simple moving average of $103.49. The company has a quick ratio of 0.74, a current ratio of 1.23 and a debt-to-equity ratio of 2.80. Crown Holdings, Inc. has a 12 month low of $70.10 and a 12 month high of $114.55. The firm has a market capitalization of $13.45 billion, a price-to-earnings ratio of 19.46, a PEG ratio of 3.00 and a beta of 1.17.

Crown (NYSE:CCK) last released its quarterly earnings data on Sunday, July 18th. The industrial products company reported $2.14 EPS for the quarter, beating analysts’ consensus estimates of $1.78 by $0.36. Crown had a net margin of 5.84% and a return on equity of 38.77%. The company had revenue of $2.86 billion during the quarter, compared to analyst estimates of $2.94 billion. During the same period last year, the business earned $1.33 earnings per share. Crown’s revenue was up 6.2% compared to the same quarter last year. As a group, equities analysts expect that Crown Holdings, Inc. will post 6.85 EPS for the current fiscal year.

In related news, Director John W. Conway sold 334 shares of the firm’s stock in a transaction that occurred on Wednesday, April 28th. The shares were sold at an average price of $109.76, for a total value of $36,659.84. Following the sale, the director now directly owns 1,031,377 shares of the company’s stock, valued at $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 the firm’s stock in a transaction that occurred on Wednesday, April 28th. The shares were sold at an average price of $109.82, for a total transaction of $507,917.50. Following the completion of the sale, the insider now directly owns 53,607 shares in the company, valued at $5,887,120.74. The disclosure for this sale can be found here. Insiders sold 10,095 shares of company stock valued at $1,128,027 over the last 90 days. 1.90% of the stock is owned by company insiders.

Crown Profile

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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