Banque Pictet & Cie SA Invests $248,000 in Crown Holdings, Inc. (NYSE:CCK)

Banque Pictet & Cie SA acquired a new position in shares of Crown Holdings, Inc. (NYSE:CCK) in the fourth quarter, HoldingsChannel.com reports. The firm acquired 3,000 shares of the industrial products company’s stock, valued at approximately $248,000.

A number of other large investors also recently modified their holdings of the business. Vontobel Holding Ltd. boosted its stake in shares of Crown by 9.5% during the 4th quarter. Vontobel Holding Ltd. now owns 22,833 shares of the industrial products company’s stock worth $1,888,000 after buying an additional 1,988 shares during the last quarter. Van ECK Associates Corp acquired a new stake in Crown in the 4th quarter valued at about $2,607,000. Allspring Global Investments Holdings LLC lifted its stake in Crown by 28.5% in the 4th quarter. Allspring Global Investments Holdings LLC now owns 285,980 shares of the industrial products company’s stock valued at $23,224,000 after purchasing an additional 63,458 shares during the last quarter. Empowered Funds LLC acquired a new stake in Crown in the 4th quarter valued at about $7,215,000. Finally, Kingsview Wealth Management LLC acquired a new stake in Crown in the 4th quarter valued at about $2,024,000. 90.93% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

CCK has been the subject of several recent analyst reports. Morgan Stanley upgraded shares of Crown from an “equal weight” rating to an “overweight” rating and cut their target price for the company from $109.00 to $105.00 in a research note on Monday, January 13th. Mizuho cut their target price on shares of Crown from $110.00 to $100.00 and set an “outperform” rating for the company in a research note on Tuesday, January 7th. UBS Group cut their target price on shares of Crown from $113.00 to $108.00 and set a “buy” rating for the company in a research note on Friday, January 10th. Citigroup raised their target price on shares of Crown from $110.00 to $111.00 and gave the company a “buy” rating in a research note on Monday, January 6th. Finally, Wells Fargo & Company raised their price objective on shares of Crown from $86.00 to $90.00 and gave the stock an “equal weight” rating in a research report on Friday, February 7th. Two equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $105.69.

Crown Stock Down 0.3 %

Shares of CCK opened at $88.11 on Friday. Crown Holdings, Inc. has a 12 month low of $70.84 and a 12 month high of $98.46. The firm’s 50 day moving average is $85.21 and its 200-day moving average is $89.40. The stock has a market capitalization of $10.54 billion, a PE ratio of 24.75, a P/E/G ratio of 1.68 and a beta of 0.87. The company has a current ratio of 1.22, a quick ratio of 0.84 and a debt-to-equity ratio of 1.88.

Crown (NYSE:CCK) last announced its earnings results on Wednesday, February 5th. The industrial products company reported $1.59 EPS for the quarter, topping the consensus estimate of $1.51 by $0.08. Crown had a net margin of 3.59% and a return on equity of 25.12%. Equities research analysts forecast that Crown Holdings, Inc. will post 6.83 EPS for the current year.

Crown Profile

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.