SVB Wealth LLC Takes $323,000 Position in Crown Holdings, Inc. (NYSE:CCK)

SVB Wealth LLC bought a new stake in shares of Crown Holdings, Inc. (NYSE:CCK - Free Report) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The fund bought 3,904 shares of the industrial products company's stock, valued at approximately $323,000.

A number of other hedge funds have also added to or reduced their stakes in the stock. FMR LLC raised its stake in Crown by 9.3% during the 3rd quarter. FMR LLC now owns 8,787,606 shares of the industrial products company's stock valued at $842,556,000 after buying an additional 749,085 shares during the last quarter. Victory Capital Management Inc. raised its stake in Crown by 7.8% during the 3rd quarter. Victory Capital Management Inc. now owns 5,676,902 shares of the industrial products company's stock valued at $544,301,000 after buying an additional 412,973 shares during the last quarter. State Street Corp raised its stake in Crown by 1.8% during the 3rd quarter. State Street Corp now owns 4,000,402 shares of the industrial products company's stock valued at $383,559,000 after buying an additional 69,260 shares during the last quarter. Pacer Advisors Inc. raised 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 buying an additional 3,074,791 shares during the last quarter. Finally, Bank of New York Mellon Corp raised its stake in Crown by 10.5% during 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 buying an additional 283,014 shares during the last quarter. 90.93% of the stock is currently owned by hedge funds and other institutional investors.

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Analyst Ratings Changes

A number of equities research analysts have weighed in on CCK shares. Mizuho decreased 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. Barclays reduced their price objective on Crown from $112.00 to $109.00 and set an "overweight" rating for the company in a research note on Monday, February 10th. Citigroup upped their price objective on Crown from $110.00 to $111.00 and gave the stock a "buy" rating in a research note on Monday, January 6th. StockNews.com upgraded Crown from a "hold" rating to a "buy" rating in a research note on Friday, February 7th. Finally, Bank of America reduced their price objective on Crown from $107.00 to $101.00 and set a "buy" rating for the company in a research note on Monday, January 6th. Two investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. According to data from MarketBeat, Crown has a consensus rating of "Moderate Buy" and a consensus price target of $106.00.

Crown Price Performance

Crown stock traded up $2.36 during mid-day trading on Friday, hitting $91.77. The stock had a trading volume of 1,679,034 shares, compared to its average volume of 1,129,002. The firm has a market capitalization of $10.79 billion, a P/E ratio of 25.78, a P/E/G ratio of 1.56 and a beta of 0.88. The company has a current ratio of 1.22, a quick ratio of 0.80 and a debt-to-equity ratio of 1.88. The firm's 50 day moving average is $86.18 and its 200 day moving average is $89.54. Crown Holdings, Inc. has a one year low of $70.84 and a one year high of $98.46.

Crown (NYSE:CCK - Get Free Report) last released its quarterly earnings data on Wednesday, February 5th. The industrial products company reported $1.59 EPS for the quarter, beating 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%. On average, sell-side analysts forecast that Crown Holdings, Inc. will post 6.96 earnings per share for the current fiscal year.

Crown Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 1st. Shareholders of record on Tuesday, March 18th will be issued a dividend of $0.26 per share. This represents a $1.04 annualized dividend and a dividend yield of 1.13%. The ex-dividend date is Tuesday, March 18th. This is an increase 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.