Spire Wealth Management Sells 226 Shares of Crown Holdings, Inc. (NYSE:CCK)

Spire Wealth Management lessened its stake in Crown Holdings, Inc. (NYSE:CCKFree Report) by 19.3% during the 3rd quarter, HoldingsChannel reports. The firm owned 944 shares of the industrial products company’s stock after selling 226 shares during the quarter. Spire Wealth Management’s holdings in Crown were worth $84,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also bought and sold shares of the stock. BlackRock Inc. lifted its position in shares of Crown by 68.6% during the 2nd quarter. BlackRock Inc. now owns 11,889,202 shares of the industrial products company’s stock valued at $1,032,815,000 after buying an additional 4,836,470 shares in the last quarter. Nomura Holdings Inc. lifted its position in shares of Crown by 202.1% during the 1st quarter. Nomura Holdings Inc. now owns 3,019,873 shares of the industrial products company’s stock valued at $249,774,000 after buying an additional 2,020,200 shares in the last quarter. Norges Bank purchased a new position in shares of Crown during the 4th quarter valued at approximately $123,506,000. State Street Corp lifted its position in shares of Crown by 55.5% during the 2nd quarter. State Street Corp now owns 3,709,202 shares of the industrial products company’s stock valued at $322,218,000 after buying an additional 1,323,107 shares in the last quarter. Finally, Goldman Sachs Group Inc. lifted its position in shares of Crown by 78.7% during the 2nd quarter. Goldman Sachs Group Inc. now owns 1,429,818 shares of the industrial products company’s stock valued at $131,787,000 after buying an additional 629,607 shares in the last quarter. Hedge funds and other institutional investors own 95.18% of the company’s stock.

Insider Buying and Selling

In related news, CEO Timothy J. Donahue sold 7,500 shares of the firm’s stock in a transaction dated Monday, January 8th. The stock was sold at an average price of $90.96, for a total transaction of $682,200.00. Following the completion of the sale, the chief executive officer now directly owns 651,264 shares of the company’s stock, valued at approximately $59,238,973.44. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 0.90% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on CCK shares. Robert W. Baird reiterated a “neutral” rating and set a $90.00 target price on shares of Crown in a research report on Tuesday, February 6th. StockNews.com upgraded Crown from a “sell” rating to a “hold” rating in a report on Tuesday, October 24th. UBS Group began coverage on Crown in a report on Tuesday, January 16th. They issued a “buy” rating and a $112.00 price objective on the stock. Citigroup raised their price objective on Crown from $103.00 to $105.00 and gave the company a “buy” rating in a report on Wednesday, October 25th. Finally, Wells Fargo & Company decreased their price objective on Crown from $93.00 to $78.00 and set an “equal weight” rating on the stock in a report on Wednesday, February 7th. Three analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $101.17.

Read Our Latest Research Report on CCK

Crown Stock Up 0.7 %

Shares of CCK opened at $74.79 on Monday. The stock has a fifty day simple moving average of $89.31 and a two-hundred day simple moving average of $87.29. The company has a quick ratio of 0.70, a current ratio of 1.15 and a debt-to-equity ratio of 2.34. The company has a market capitalization of $9.02 billion, a PE ratio of 19.89, a price-to-earnings-growth ratio of 2.50 and a beta of 0.96. Crown Holdings, Inc. has a 52-week low of $69.61 and a 52-week high of $96.35.

Crown (NYSE:CCKGet Free Report) last issued its quarterly earnings data on Tuesday, February 6th. The industrial products company reported $1.24 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.43 by ($0.19). The business had revenue of $2.86 billion for the quarter, compared to analyst estimates of $2.96 billion. Crown had a return on equity of 25.75% and a net margin of 3.75%. The firm’s revenue for the quarter was down 5.1% compared to the same quarter last year. During the same period in the previous year, the business posted $1.17 earnings per share. As a group, equities analysts forecast that Crown Holdings, Inc. will post 5.93 EPS for the current year.

Crown Company Profile

(Free Report)

Crown Holdings, Inc, together with its subsidiaries, supplies rigid packaging products in Pennsylvania and internationally. It operates through Americas Beverage, European Beverage, Asia Pacific, and Transit Packaging segments. The Americas Beverage segment manufactures recyclable aluminum beverage cans and ends, glass bottles, steel crowns, and aluminum caps.

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Institutional Ownership by Quarter for Crown (NYSE:CCK)

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