CIBC Private Wealth Group LLC raised its stake in shares of Crown Holdings, Inc. (NYSE:CCK - Free Report) by 27.1% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 41,872 shares of the industrial products company's stock after purchasing an additional 8,937 shares during the quarter. CIBC Private Wealth Group LLC's holdings in Crown were worth $3,351,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other hedge funds and other institutional investors have also bought and sold shares of the company. Farther Finance Advisors LLC lifted its holdings in shares of Crown by 160.0% during the 4th quarter. Farther Finance Advisors LLC now owns 416 shares of the industrial products company's stock worth $34,000 after acquiring an additional 256 shares during the last quarter. GAMMA Investing LLC raised its position in Crown by 84.2% during the fourth quarter. GAMMA Investing LLC now owns 571 shares of the industrial products company's stock valued at $47,000 after purchasing an additional 261 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. lifted its stake in Crown by 20.0% during the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 702 shares of the industrial products company's stock worth $57,000 after purchasing an additional 117 shares during the last quarter. Point72 Asia Singapore Pte. Ltd. purchased a new position in shares of Crown in the 3rd quarter worth about $71,000. Finally, Venturi Wealth Management LLC increased its position in shares of Crown by 48.6% during the 4th quarter. Venturi Wealth Management LLC now owns 823 shares of the industrial products company's stock valued at $68,000 after purchasing an additional 269 shares during the last quarter. Hedge funds and other institutional investors own 90.93% of the company's stock.
Analyst Upgrades and Downgrades
CCK has been the subject of several research reports. Wells Fargo & Company upped their target price on Crown from $86.00 to $90.00 and gave the stock an "equal weight" rating in a research note on Friday, February 7th. Mizuho reduced their target price on shares of Crown from $110.00 to $100.00 and set an "outperform" rating on the stock in a report on Tuesday, January 7th. UBS Group decreased their target price on shares of Crown from $113.00 to $108.00 and set a "buy" rating on the stock in a research report on Friday, January 10th. Morgan Stanley upgraded shares of Crown from an "equal weight" rating to an "overweight" rating and cut their price target for the company from $109.00 to $105.00 in a research report on Monday, January 13th. Finally, Bank of America decreased their price objective on Crown from $107.00 to $101.00 and set a "buy" rating on the stock in a report on Monday, January 6th. Two equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $106.00.
Get Our Latest Stock Analysis on Crown
Crown Trading Down 2.7 %
NYSE:CCK traded down $2.22 during mid-day trading on Monday, reaching $81.02. 1,770,058 shares of the company's stock traded hands, compared to its average volume of 1,193,636. Crown Holdings, Inc. has a 12-month low of $70.84 and a 12-month 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 50 day moving average price of $88.27 and a 200-day moving average price of $89.23. The firm has a market capitalization of $9.48 billion, a price-to-earnings ratio of 22.76, a PEG ratio of 1.56 and a beta of 0.79.
Crown (NYSE:CCK - Get Free Report) last posted its earnings results on Wednesday, February 5th. The industrial products company reported $1.59 earnings per share (EPS) for the quarter, beating 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%. On average, sell-side analysts predict that Crown Holdings, Inc. will post 6.96 earnings per share for the current year.
Crown Increases Dividend
The business also recently announced a quarterly dividend, which was paid on Tuesday, April 1st. Stockholders of record on Tuesday, March 18th were given a $0.26 dividend. This represents a $1.04 annualized dividend and a dividend yield of 1.28%. This is a boost from Crown's previous quarterly dividend of $0.25. The ex-dividend date of this dividend was Tuesday, March 18th. Crown's dividend payout ratio (DPR) is currently 29.21%.
Crown Profile
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Free Report)
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.
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