Crown Holdings, Inc. (NYSE:CCK) Stake Increased by CIBC Private Wealth Group LLC

CIBC Private Wealth Group LLC raised its stake in shares of Crown Holdings, Inc. (NYSE:CCK) by 27.1% during the fourth quarter, HoldingsChannel reports. The fund owned 41,872 shares of the industrial products company’s stock after acquiring 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 SEC filing.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Farther Finance Advisors LLC grew its stake in Crown by 160.0% in the fourth quarter. Farther Finance Advisors LLC now owns 416 shares of the industrial products company’s stock worth $34,000 after purchasing an additional 256 shares in the last quarter. GAMMA Investing LLC grew its position in shares of Crown by 84.2% in the 4th quarter. GAMMA Investing LLC now owns 571 shares of the industrial products company’s stock worth $47,000 after acquiring an additional 261 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. raised its position in shares of Crown by 20.0% during the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 702 shares of the industrial products company’s stock valued at $57,000 after acquiring an additional 117 shares in the last quarter. Venturi Wealth Management LLC lifted its stake in Crown by 48.6% during the fourth quarter. Venturi Wealth Management LLC now owns 823 shares of the industrial products company’s stock worth $68,000 after purchasing an additional 269 shares during the last quarter. Finally, Jones Financial Companies Lllp boosted its holdings in Crown by 325.1% in the fourth quarter. Jones Financial Companies Lllp now owns 846 shares of the industrial products company’s stock worth $70,000 after purchasing an additional 647 shares during the period. Institutional investors own 90.93% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on the stock. Mizuho reduced their price target on shares of Crown from $110.00 to $100.00 and set an “outperform” rating on the stock in a research report on Tuesday, January 7th. Barclays lowered their target price on Crown from $112.00 to $109.00 and set an “overweight” rating for the company in a report on Monday, February 10th. StockNews.com upgraded Crown from a “hold” rating to a “buy” rating in a research report on Friday, February 7th. UBS Group dropped their target price 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, Morgan Stanley raised shares of Crown from an “equal weight” rating to an “overweight” rating and reduced their price target for the company from $109.00 to $105.00 in a report on Monday, January 13th. Two investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $106.00.

Crown Stock Performance

Shares of CCK opened at $90.29 on Thursday. The firm has a market capitalization of $10.56 billion, a PE ratio of 25.36, a P/E/G ratio of 1.56 and a beta of 0.88. The company has a quick ratio of 0.80, a current ratio of 1.22 and a debt-to-equity ratio of 1.88. The firm has a 50-day moving average price of $88.53 and a 200 day moving average price of $89.44. Crown Holdings, Inc. has a 52-week low of $70.84 and a 52-week high of $98.46.

Crown (NYSE:CCK) last posted its quarterly earnings data on Wednesday, February 5th. The industrial products company reported $1.59 EPS for the quarter, beating analysts’ consensus estimates 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 anticipate that Crown Holdings, Inc. will post 6.96 earnings per share for the current fiscal year.

Crown Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, April 1st. Stockholders of record on Tuesday, March 18th were paid a $0.26 dividend. This represents a $1.04 dividend on an annualized basis and a dividend yield of 1.15%. The ex-dividend date was Tuesday, March 18th. This is an increase from Crown’s previous quarterly dividend of $0.25. Crown’s payout ratio is currently 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.