AXQ Capital LP Purchases Shares of 6,654 Crown Holdings, Inc. (NYSE:CCK)

AXQ Capital LP acquired a new stake in shares of Crown Holdings, Inc. (NYSE:CCK - Free Report) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 6,654 shares of the industrial products company's stock, valued at approximately $550,000.

Other institutional investors have also modified their holdings of the company. FMR LLC raised its stake in Crown by 9.3% in the 3rd quarter. FMR LLC now owns 8,787,606 shares of the industrial products company's stock valued at $842,556,000 after purchasing an additional 749,085 shares during the last quarter. Victory Capital Management Inc. raised its position in shares of Crown by 1.8% in the fourth quarter. Victory Capital Management Inc. now owns 5,779,691 shares of the industrial products company's stock valued at $477,923,000 after buying an additional 102,789 shares during the last quarter. State Street Corp lifted its stake in shares of Crown by 1.8% in the third quarter. State Street Corp now owns 4,000,402 shares of the industrial products company's stock worth $383,559,000 after buying an additional 69,260 shares in the last quarter. Pacer Advisors Inc. grew its stake in Crown by 10,138.8% during the 4th quarter. Pacer Advisors Inc. now owns 3,105,118 shares of the industrial products company's stock valued at $256,762,000 after acquiring an additional 3,074,791 shares in the last quarter. Finally, Bank of New York Mellon Corp raised its holdings in Crown by 10.5% in the 4th quarter. Bank of New York Mellon Corp now owns 2,967,810 shares of the industrial products company's stock valued at $245,408,000 after acquiring an additional 283,014 shares during the last quarter. Institutional investors and hedge funds own 90.93% of the company's stock.

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Analysts Set New Price Targets

CCK has been the subject of several recent research reports. Truist Financial increased their price target on Crown from $103.00 to $104.00 and gave the company a "hold" rating in a report on Monday, January 6th. Citigroup boosted their price target on shares of Crown from $110.00 to $111.00 and gave the company a "buy" rating in a research report on Monday, January 6th. Morgan Stanley upgraded shares of Crown from an "equal weight" rating to an "overweight" rating and cut their price objective for the stock from $109.00 to $105.00 in a research report on Monday, January 13th. Wells Fargo & Company raised their price target on shares of Crown from $86.00 to $90.00 and gave the stock an "equal weight" rating in a report on Friday, February 7th. Finally, Mizuho decreased their price objective on Crown from $110.00 to $100.00 and set an "outperform" rating on the stock in a report on Tuesday, January 7th. Two equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price of $106.00.

Crown Stock Up 0.9 %

Shares of NYSE CCK traded up $0.82 during mid-day trading on Thursday, hitting $89.99. The company had a trading volume of 801,879 shares, compared to its average volume of 1,138,958. The company has a market capitalization of $10.58 billion, a PE ratio of 25.28, a price-to-earnings-growth ratio of 1.56 and a beta of 0.88. The business's 50-day simple moving average is $88.27 and its 200 day simple moving average is $89.47. 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.

Crown (NYSE:CCK - Get Free Report) last announced its quarterly earnings data on Wednesday, February 5th. The industrial products company reported $1.59 EPS for the quarter, topping analysts' consensus estimates of $1.51 by $0.08. Crown had a return on equity of 25.12% and a net margin of 3.59%. On average, analysts predict that Crown Holdings, Inc. will post 6.96 earnings per share for the current year.

Crown Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, April 1st. Investors of record on Tuesday, March 18th will be issued a $0.26 dividend. This represents a $1.04 annualized dividend and a yield of 1.16%. The ex-dividend date is Tuesday, March 18th. This is a positive change from Crown's previous quarterly dividend of $0.25. Crown's dividend payout ratio is 29.21%.

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.