Quadcap Wealth Management LLC acquired a new position in shares of Crown Holdings, Inc. (NYSE:CCK – Free Report) in the third quarter, according to its most recent filing with the Securities & Exchange Commission. The firm acquired 5,069 shares of the industrial products company’s stock, valued at approximately $534,000.
Several other institutional investors have also recently bought and sold shares of CCK. Dimensional Fund Advisors LP grew its stake in shares of Crown by 1.7% during the 1st quarter. Dimensional Fund Advisors LP now owns 1,977,123 shares of the industrial products company’s stock worth $198,186,000 after acquiring an additional 32,112 shares in the last quarter. Quantinno Capital Management LP lifted its position in shares of Crown by 19.3% in the first quarter. Quantinno Capital Management LP now owns 1,156,902 shares of the industrial products company’s stock worth $115,979,000 after purchasing an additional 186,849 shares in the last quarter. Bank of New York Mellon Corp bought a new stake in shares of Crown in the second quarter worth $112,578,000. Nykredit A S bought a new stake in shares of Crown in the second quarter worth $99,537,000. Finally, Renaissance Technologies LLC boosted its holdings in Crown by 14.7% during the first quarter. Renaissance Technologies LLC now owns 548,000 shares of the industrial products company’s stock worth $54,937,000 after purchasing an additional 70,300 shares during the last quarter. Institutional investors own 90.93% of the company’s stock.
Wall Street Analyst Weigh In
CCK has been the subject of a number of analyst reports. Wells Fargo & Company reaffirmed a “cautious” rating on shares of Crown in a research report on Monday, October 19th. BMO Capital Markets boosted their price target on shares of Crown from $130.00 to $135.00 and gave the stock an “outperform” rating in a research report on Wednesday, July 22nd. Citigroup increased their price objective on shares of Crown from $137.00 to $139.00 and gave the stock a “buy” rating in a research note on Wednesday, October 21st. Truist Financial restated a “buy” rating and issued a $141.00 price objective (up from $129.00) on shares of Crown in a report on Wednesday, July 22nd. Finally, Bank of America lifted their target price on Crown from $129.00 to $145.00 and gave the company a “buy” rating in a research report on Tuesday, July 14th. Eleven equities research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $128.47.
Get Our Latest Stock Report on CCK
Crown Stock Performance
Shares of CCK stock traded down $0.55 during trading on Friday, reaching $121.31. 874,384 shares of the company’s stock were exchanged, compared to its average volume of 846,848. Crown Holdings, Inc. has a twelve month low of $91.31 and a twelve month high of $126.36. The firm’s fifty day moving average price is $113.11 and its 200-day moving average price is $108.92. The company has a quick ratio of 0.71, a current ratio of 1.14 and a debt-to-equity ratio of 1.65. The stock has a market capitalization of $13.11 billion, a PE ratio of 16.90, a PEG ratio of 1.54 and a beta of 0.54.
Crown (NYSE:CCK – Get Free Report) last announced 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. Crown had a return on equity of 27.41% and a net margin of 5.78%. The business had revenue of $3.71 billion during the quarter, compared to the consensus estimate of $3.45 billion. During the same quarter last year, the firm posted $2.24 EPS. The company’s quarterly revenue was up 15.9% on a year-over-year basis. As a group, sell-side analysts anticipate that Crown Holdings, Inc. will post 8.41 EPS for the current year.
Crown Announces Dividend
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, November 19th. Stockholders of record on Thursday, November 5th will be issued a dividend of $0.35 per share. This represents a $1.40 dividend on an annualized basis and a dividend yield of 1.2%. The ex-dividend date is Thursday, November 5th. 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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