Pictet Asset Management SA Decreases Stock Holdings in Crown Holdings, Inc. (NYSE:CCK)

Pictet Asset Management SA trimmed its holdings in shares of Crown Holdings, Inc. (NYSE:CCKGet Rating) by 1.1% in the 2nd quarter, HoldingsChannel.com reports. The institutional investor owned 42,936 shares of the industrial products company’s stock after selling 486 shares during the quarter. Pictet Asset Management SA’s holdings in Crown were worth $3,957,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors also recently added to or reduced their stakes in the company. Quent Capital LLC grew its position in Crown by 92.7% during the first quarter. Quent Capital LLC now owns 237 shares of the industrial products company’s stock valued at $30,000 after buying an additional 114 shares during the period. Meeder Asset Management Inc. grew its position in Crown by 187.6% during the first quarter. Meeder Asset Management Inc. now owns 302 shares of the industrial products company’s stock valued at $38,000 after buying an additional 197 shares during the period. Arlington Partners LLC bought a new position in shares of Crown in the second quarter worth approximately $43,000. Cullen Frost Bankers Inc. bought a new position in shares of Crown in the first quarter worth approximately $63,000. Finally, NuWave Investment Management LLC bought a new position in shares of Crown in the second quarter worth approximately $66,000. 91.84% of the stock is currently owned by institutional investors.

Insider Activity

In other news, VP Christy L. Kalaus sold 500 shares of the stock in a transaction on Thursday, September 8th. The shares were sold at an average price of $93.90, for a total value of $46,950.00. Following the sale, the vice president now owns 4,894 shares of the company’s stock, valued at $459,546.60. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Insiders own 1.80% of the company’s stock.

Analyst Upgrades and Downgrades

CCK has been the subject of a number of recent analyst reports. BMO Capital Markets dropped their price target on shares of Crown from $140.00 to $100.00 in a research report on Wednesday, October 26th. Barclays dropped their price target on shares of Crown from $115.00 to $90.00 and set an “overweight” rating for the company in a research report on Friday, October 28th. StockNews.com initiated coverage on shares of Crown in a research report on Wednesday, October 12th. They issued a “hold” rating for the company. Deutsche Bank Aktiengesellschaft dropped their price target on shares of Crown from $115.00 to $109.00 and set a “buy” rating for the company in a research report on Monday, October 24th. Finally, Robert W. Baird lowered their target price on shares of Crown from $130.00 to $80.00 and set an “outperform” rating on the stock in a report on Wednesday, October 26th. Five investment analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $97.13.

Crown Price Performance

Crown stock opened at $80.40 on Monday. The company has a market cap of $9.64 billion, a price-to-earnings ratio of -29.56, a PEG ratio of 2.42 and a beta of 1.05. The firm’s fifty day moving average is $81.34 and its 200 day moving average is $91.57. The company has a quick ratio of 0.69, a current ratio of 1.24 and a debt-to-equity ratio of 3.14. Crown Holdings, Inc. has a 52-week low of $66.00 and a 52-week high of $130.42.

Crown (NYSE:CCKGet Rating) last released its quarterly earnings results on Tuesday, October 25th. The industrial products company reported $1.46 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.77 by ($0.31). The business had revenue of $3.26 billion for the quarter, compared to analysts’ expectations of $3.28 billion. Crown had a negative net margin of 2.80% and a positive return on equity of 39.93%. Crown’s revenue for the quarter was up 11.6% compared to the same quarter last year. During the same period in the previous year, the company earned $2.03 EPS. Sell-side analysts forecast that Crown Holdings, Inc. will post 6.66 EPS for the current fiscal year.

Crown Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, November 25th. Stockholders of record on Thursday, November 10th will be paid a $0.22 dividend. This represents a $0.88 annualized dividend and a dividend yield of 1.09%. The ex-dividend date is Wednesday, November 9th. Crown’s dividend payout ratio is currently -32.35%.

About Crown

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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 and beverage industries. The company also provides products for industrial products, such as steel and plastic strap consumables and equipment, paper-based protective packaging, and plastic film consumables and equipment to metals, food and beverage, construction, agricultural, corrugated, and general industries.

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Institutional Ownership by Quarter for Crown (NYSE:CCK)

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