Bank of New York Mellon Corp Acquires 283,014 Shares of Crown Holdings, Inc. (NYSE:CCK)

Bank of New York Mellon Corp grew its holdings in Crown Holdings, Inc. (NYSE:CCK) by 10.5% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 2,967,810 shares of the industrial products company’s stock after purchasing an additional 283,014 shares during the quarter. Bank of New York Mellon Corp owned approximately 2.48% of Crown worth $245,408,000 at the end of the most recent reporting period.

Other hedge funds have also recently modified their holdings of the company. Mirae Asset Global Investments Co. Ltd. raised its stake in Crown by 20.0% in the fourth 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 in the last quarter. Spire Wealth Management increased its holdings in shares of Crown by 16.2% in the 4th quarter. Spire Wealth Management now owns 992 shares of the industrial products company’s stock valued at $82,000 after acquiring an additional 138 shares during the period. Marshall & Sullivan Inc. WA raised its position in shares of Crown by 0.3% in the 4th quarter. Marshall & Sullivan Inc. WA now owns 57,268 shares of the industrial products company’s stock worth $4,735,000 after acquiring an additional 155 shares in the last quarter. Deroy & Devereaux Private Investment Counsel Inc. raised its position in shares of Crown by 0.4% in the 4th quarter. Deroy & Devereaux Private Investment Counsel Inc. now owns 45,445 shares of the industrial products company’s stock worth $3,758,000 after acquiring an additional 165 shares in the last quarter. Finally, DekaBank Deutsche Girozentrale lifted its stake in shares of Crown by 2.0% during the 3rd quarter. DekaBank Deutsche Girozentrale now owns 9,477 shares of the industrial products company’s stock worth $894,000 after purchasing an additional 183 shares during the last quarter. Hedge funds and other institutional investors own 90.93% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have commented on CCK shares. Barclays reduced their target price on shares of Crown from $112.00 to $109.00 and set an “overweight” rating for the company in a report on Monday, February 10th. Morgan Stanley upgraded shares of Crown from an “equal weight” rating to an “overweight” rating and reduced their price objective for the stock from $109.00 to $105.00 in a research note on Monday, January 13th. Royal Bank of Canada raised their target price on shares of Crown from $113.00 to $115.00 and gave the company an “outperform” rating in a research note on Friday, February 7th. UBS Group reduced their price target on Crown from $113.00 to $108.00 and set a “buy” rating on the stock in a research report on Friday, January 10th. Finally, StockNews.com upgraded Crown from a “hold” rating to a “buy” rating in a report on Friday, February 7th. Two analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $105.69.

Crown Price Performance

NYSE CCK opened at $88.08 on Thursday. The stock’s fifty day moving average price is $85.41 and its 200 day moving average price is $89.48. 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 1.88, a current ratio of 1.22 and a quick ratio of 0.80. The company has a market cap of $10.54 billion, a price-to-earnings ratio of 24.74, a PEG ratio of 1.56 and a beta of 0.87.

Crown (NYSE:CCK) last announced its quarterly earnings data on Wednesday, February 5th. The industrial products company reported $1.59 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.51 by $0.08. Crown had a return on equity of 25.12% and a net margin of 3.59%. As a group, equities research analysts forecast that Crown Holdings, Inc. will post 6.96 earnings per share for the current year.

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.