Viewpoint Investment Partners Corp acquired a new position in Crown Holdings, Inc. (NYSE:CCK – Free Report) during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund acquired 4,400 shares of the industrial products company’s stock, valued at approximately $464,000.
Several other institutional investors have also added to or reduced their stakes in CCK. Anchor Investment Management LLC increased its position in Crown by 5.8% during the 2nd quarter. Anchor Investment Management LLC now owns 1,974 shares of the industrial products company’s stock valued at $221,000 after purchasing an additional 109 shares during the period. Sumitomo Mitsui Trust Group Inc. raised its holdings in Crown by 2.1% during the 1st quarter. Sumitomo Mitsui Trust Group Inc. now owns 5,838 shares of the industrial products company’s stock worth $585,000 after purchasing an additional 121 shares during the last quarter. Amova Asset Management Americas Inc. lifted its position in shares of Crown by 2.1% in the 1st quarter. Amova Asset Management Americas Inc. now owns 5,838 shares of the industrial products company’s stock worth $585,000 after purchasing an additional 121 shares during the period. Oregon Public Employees Retirement Fund lifted its position in shares of Crown by 0.7% in the 1st quarter. Oregon Public Employees Retirement Fund now owns 22,972 shares of the industrial products company’s stock worth $2,303,000 after purchasing an additional 152 shares during the period. Finally, Quadrant Capital Group LLC lifted its position in shares of Crown by 2.0% in the 3rd quarter. Quadrant Capital Group LLC now owns 9,877 shares of the industrial products company’s stock worth $1,086,000 after purchasing an additional 192 shares during the period. 90.93% of the stock is currently owned by institutional investors.
Analyst Upgrades and Downgrades
A number of equities research analysts have recently commented on CCK shares. JPMorgan Chase & Co. raised shares of Crown from a “neutral” rating to an “overweight” rating and set a $121.00 price objective on the stock in a research note on Friday, September 18th. Robert W. Baird lifted their target price on shares of Crown from $120.00 to $130.00 and gave the stock a “neutral” rating in a research note on Wednesday, July 22nd. Mizuho boosted their target price on shares of Crown from $130.00 to $135.00 and gave the company an “outperform” rating in a report on Tuesday, July 21st. Raymond James Financial upped their price target on shares of Crown from $125.00 to $135.00 and gave the company an “outperform” rating in a research report on Wednesday, July 15th. Finally, BMO Capital Markets increased their price target on Crown from $130.00 to $135.00 and gave the stock an “outperform” rating in a report on Wednesday, July 22nd. Twelve research analysts have rated the stock with a Buy rating and five have given a Hold rating to the company. Based on data from MarketBeat.com, Crown has an average rating of “Moderate Buy” and an average price target of $128.47.
View Our Latest Stock Analysis on Crown
Crown Trading Down 0.3%
Shares of CCK stock opened at $116.88 on Tuesday. The company has a market cap of $12.71 billion, a P/E ratio of 16.28, a PEG ratio of 1.47 and a beta of 0.56. The stock has a 50 day simple moving average of $112.75 and a two-hundred day simple moving average of $108.18. The company has a debt-to-equity ratio of 1.65, a quick ratio of 0.71 and a current ratio of 1.14. Crown Holdings, Inc. has a fifty-two week low of $91.31 and a fifty-two week high of $122.91.
Crown (NYSE:CCK – Get Free Report) last issued its quarterly earnings results on Monday, October 19th. The industrial products company reported $2.39 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.26 by $0.13. The firm had revenue of $3.71 billion for the quarter, compared to analyst estimates of $3.45 billion. Crown had a return on equity of 27.41% and a net margin of 5.78%. The company’s revenue was up 15.9% compared to the same quarter last year. During the same period in the previous year, the firm earned $2.24 earnings per share. Research analysts forecast that Crown Holdings, Inc. will post 8.41 earnings per share for the current year.
Crown Announces Dividend
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, November 19th. Stockholders of record on Thursday, November 5th will be paid a $0.35 dividend. The ex-dividend date is Thursday, November 5th. This represents a $1.40 annualized dividend and a dividend yield of 1.2%. Crown’s payout ratio is currently 19.50%.
Crown Profile
Crown Holdings, Inc (NYSE: CCK) is a global packaging company that designs, manufactures and sells metal packaging products. Its portfolio includes beverage cans, food cans, aerosol cans, closures and other specialty packaging used by consumer goods, food and beverage, household, personal care and industrial customers.
The company serves customers across North America, Europe, Asia Pacific and other international markets. Crown’s products are used for beer, soft drinks, energy drinks, canned foods, household products, personal care items and industrial materials.
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