Iridian Asset Management LLC CT Increases Stock Position in Crown Holdings, Inc. (NYSE:CCK)

Iridian Asset Management LLC CT increased its position in Crown Holdings, Inc. (NYSE:CCK) by 13.5% during the fourth quarter, HoldingsChannel.com reports. The firm owned 222,292 shares of the industrial products company’s stock after acquiring an additional 26,443 shares during the quarter. Crown makes up approximately 4.9% of Iridian Asset Management LLC CT’s holdings, making the stock its 8th largest holding. Iridian Asset Management LLC CT’s holdings in Crown were worth $18,381,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of the company. Sumitomo Mitsui DS Asset Management Company Ltd boosted its stake in Crown by 45.3% in the 4th quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 31,161 shares of the industrial products company’s stock worth $2,577,000 after purchasing an additional 9,717 shares in the last quarter. Strategic Financial Concepts LLC purchased a new position in Crown in the 4th quarter worth about $1,176,000. Robertson Stephens Wealth Management LLC purchased a new position in Crown in the 4th quarter worth about $384,000. Mirae Asset Global Investments Co. Ltd. raised its position in Crown by 20.0% in the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 702 shares of the industrial products company’s stock worth $57,000 after buying an additional 117 shares during the last quarter. Finally, abrdn plc raised its position in Crown by 12.0% in the 4th quarter. abrdn plc now owns 3,750 shares of the industrial products company’s stock worth $307,000 after buying an additional 402 shares during the last quarter. Institutional investors own 90.93% of the company’s stock.

Crown Trading Up 2.5 %

CCK stock opened at $87.22 on Friday. Crown Holdings, Inc. has a 1-year low of $70.84 and a 1-year high of $98.46. The company has a debt-to-equity ratio of 2.19, a current ratio of 1.21 and a quick ratio of 0.84. The company has a market capitalization of $10.43 billion, a price-to-earnings ratio of 107.68, a PEG ratio of 1.70 and a beta of 0.87. The business has a 50 day simple moving average of $85.66 and a two-hundred day simple moving average of $89.23.

Crown (NYSE:CCK) last posted its quarterly earnings results on Wednesday, February 5th. The industrial products company reported $1.59 earnings per share for the quarter, topping the consensus estimate of $1.51 by $0.08. Crown had a return on equity of 24.57% and a net margin of 0.83%. Research analysts anticipate that Crown Holdings, Inc. will post 6.35 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of equities analysts have weighed in on the company. Barclays boosted their target price on Crown from $100.00 to $112.00 and gave the stock an “overweight” rating in a research report on Monday, October 21st. Royal Bank of Canada boosted their target price on Crown from $105.00 to $113.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 23rd. Loop Capital upped their price target on shares of Crown from $120.00 to $129.00 and gave the company a “buy” rating in a research report on Monday, October 21st. Robert W. Baird upped their price target on shares of Crown from $100.00 to $110.00 and gave the company an “outperform” rating in a research report on Monday, October 21st. Finally, StockNews.com lowered shares of Crown from a “buy” rating to a “hold” rating in a research report on Tuesday, January 28th. Three analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. According to data from MarketBeat, Crown currently has a consensus rating of “Moderate Buy” and a consensus target price of $105.46.

About Crown

Crown Holdings, Inc, together with its subsidiaries, engages in the packaging business in the United States and internationally. It operates through Americas Beverage, European Beverage, Asia Pacific, and Transit Packaging segments. The company manufactures and sells recyclable aluminum beverage cans and ends, glass bottles, steel crowns, aluminum caps, non-beverage cans, and aerosol cans and closures.