Westpac Banking Corp Maintains Position in Crown Holdings, Inc. (CCK)

Westpac Banking Corp held its position in Crown Holdings, Inc. (NYSE:CCK) during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 10,802 shares of the industrial products company’s stock at the close of the second quarter. Westpac Banking Corp’s holdings in Crown Holdings were worth $644,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Neuberger Berman Group LLC grew its stake in shares of Crown Holdings by 3.3% during the second quarter. Neuberger Berman Group LLC now owns 1,776,396 shares of the industrial products company’s stock valued at $105,980,000 after buying an additional 57,124 shares during the last quarter. KCG Holdings Inc. grew its stake in shares of Crown Holdings by 14.8% during the first quarter. KCG Holdings Inc. now owns 20,229 shares of the industrial products company’s stock valued at $1,071,000 after buying an additional 2,603 shares during the last quarter. AXA grew its stake in shares of Crown Holdings by 7.2% during the first quarter. AXA now owns 375,300 shares of the industrial products company’s stock valued at $19,872,000 after buying an additional 25,100 shares during the last quarter. Victory Capital Management Inc. grew its stake in shares of Crown Holdings by 17.1% during the second quarter. Victory Capital Management Inc. now owns 4,005,148 shares of the industrial products company’s stock valued at $238,947,000 after buying an additional 584,647 shares during the last quarter. Finally, Raymond James Financial Services Advisors Inc. grew its stake in shares of Crown Holdings by 41.2% during the first quarter. Raymond James Financial Services Advisors Inc. now owns 5,552 shares of the industrial products company’s stock valued at $294,000 after buying an additional 1,620 shares during the last quarter. 90.15% of the stock is currently owned by hedge funds and other institutional investors.

Shares of Crown Holdings, Inc. (CCK) opened at 60.13 on Wednesday. The stock has a market cap of $8.14 billion, a price-to-earnings ratio of 17.22 and a beta of 1.39. The firm’s 50-day moving average price is $58.57 and its 200-day moving average price is $56.74. Crown Holdings, Inc. has a 12-month low of $51.57 and a 12-month high of $60.96.

Crown Holdings (NYSE:CCK) last posted its quarterly earnings results on Wednesday, July 19th. The industrial products company reported $1.12 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.10 by $0.02. The business had revenue of $2.16 billion during the quarter, compared to the consensus estimate of $2.15 billion. Crown Holdings had a net margin of 5.81% and a return on equity of 66.28%. The company’s quarterly revenue was up .9% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.19 earnings per share. On average, analysts forecast that Crown Holdings, Inc. will post $4.03 EPS for the current fiscal year.

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CCK has been the topic of a number of analyst reports. Vertical Research cut Crown Holdings from a “buy” rating to a “hold” rating and upped their target price for the company from $60.00 to $64.00 in a research note on Friday, July 21st. ValuEngine raised Crown Holdings from a “hold” rating to a “buy” rating in a research note on Friday, June 30th. Zacks Investment Research cut Crown Holdings from a “buy” rating to a “hold” rating in a research note on Tuesday, May 16th. Jefferies Group LLC reissued a “buy” rating on shares of Crown Holdings in a research note on Wednesday, May 24th. Finally, BidaskClub raised Crown Holdings from a “hold” rating to a “buy” rating in a research note on Thursday, June 29th. One research analyst has rated the stock with a sell rating, five have issued a hold rating and six have given a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and an average price target of $64.56.

Crown Holdings Profile

Crown Holdings, Inc is engaged in the design, manufacture and sale of packaging products for consumer goods. The Company’s business is organized within three divisions: Americas, Europe and Asia Pacific. Within each division, the Company is organized along product lines. The Company’s segments within the Americas Division are Americas Beverage and North America Food.

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Institutional Ownership by Quarter for Crown Holdings (NYSE:CCK)

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