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

CIBC Private Wealth Group LLC grew its stake in shares of Crown Holdings, Inc. (NYSE:CCK – Get Rating) by 1.3% in the 3rd quarter, HoldingsChannel reports. The firm owned 253,608 shares of the industrial products company’s stock after acquiring an additional 3,215 shares during the quarter. CIBC Private Wealth Group LLC’s holdings in Crown were worth $20,550,000 at the end of the most recent quarter.

Several other hedge funds have also modified their holdings of CCK. Gamco Investors INC. ET AL lifted its stake in Crown by 1.7% in the 3rd quarter. Gamco Investors INC. ET AL now owns 9,570 shares of the industrial products company’s stock worth $775,000 after acquiring an additional 163 shares in the last quarter. Verition Fund Management LLC lifted its stake in Crown by 2.8% in the 3rd quarter. Verition Fund Management LLC now owns 6,278 shares of the industrial products company’s stock worth $509,000 after acquiring an additional 169 shares in the last quarter. Marshall & Sullivan Inc. WA lifted its stake in Crown by 0.3% in the 3rd quarter. Marshall & Sullivan Inc. WA now owns 57,892 shares of the industrial products company’s stock worth $4,690,000 after acquiring an additional 180 shares in the last quarter. Echo Street Capital Management LLC lifted its stake in Crown by 3.5% in the 2nd quarter. Echo Street Capital Management LLC now owns 5,854 shares of the industrial products company’s stock worth $540,000 after acquiring an additional 199 shares in the last quarter. Finally, Carmel Capital Partners LLC lifted its stake in Crown by 2.6% in the 3rd quarter. Carmel Capital Partners LLC now owns 8,988 shares of the industrial products company’s stock worth $728,000 after acquiring an additional 226 shares in the last quarter.

Analyst Upgrades and Downgrades

CCK has been the subject of several research analyst reports. Barclays increased their price objective on Crown from $90.00 to $95.00 and gave the stock an “overweight” rating in a research note on Monday, February 13th. Morgan Stanley dropped their target price on Crown from $110.00 to $105.00 and set an “overweight” rating on the stock in a research report on Tuesday, January 10th. TheStreet raised Crown from a “c” rating to a “b-” rating in a research report on Wednesday, February 8th. Robert W. Baird lowered Crown from an “outperform” rating to a “neutral” rating and set a $80.00 target price on the stock. in a research report on Wednesday, January 4th. Finally, UBS Group dropped their target price on Crown from $105.00 to $90.00 and set a “neutral” rating on the stock in a research report on Thursday, December 15th. One research analyst has rated the stock with a sell rating, five have given a hold rating and eight have issued a buy rating to the stock. According to data from MarketBeat.com, Crown currently has a consensus rating of “Moderate Buy” and a consensus price target of $97.73.

Crown Stock Performance

Shares of NYSE CCK opened at $81.35 on Wednesday. The company has a debt-to-equity ratio of 2.97, a quick ratio of 0.67 and a current ratio of 1.18. The firm has a market cap of $9.77 billion, a price-to-earnings ratio of 13.63, a P/E/G ratio of 2.61 and a beta of 1.05. The business’s 50-day simple moving average is $86.24 and its 200-day simple moving average is $83.99. Crown Holdings, Inc. has a 52 week low of $66.00 and a 52 week high of $130.42.

Crown (NYSE:CCK – Get Rating) last issued its quarterly earnings data on Wednesday, February 8th. The industrial products company reported $1.17 EPS for the quarter, beating analysts’ consensus estimates of $1.07 by $0.10. The business had revenue of $3.01 billion for the quarter, compared to analyst estimates of $3.12 billion. Crown had a return on equity of 36.97% and a net margin of 5.62%. The firm’s revenue for the quarter was down 1.4% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.66 EPS. As a group, equities research analysts expect that Crown Holdings, Inc. will post 6.27 earnings per share for the current fiscal year.

Crown Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, March 23rd. Shareholders of record on Thursday, March 9th will be issued a $0.24 dividend. The ex-dividend date is Wednesday, March 8th. This represents a $0.96 dividend on an annualized basis and a yield of 1.18%. This is a positive change from Crown’s previous quarterly dividend of $0.22. Crown’s dividend payout ratio (DPR) is 16.08%.

Crown Company Profile

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Crown Holdings, Inc engages in the design, manufacture, and sale of packaging products and equipment for consumer goods. The firm offers aerosol cans, beverage, promotional, and transit packaging, closures and capping, and food cans. It operates through the following segments: Americas, Europe, Asia Pacific, and Transit Packaging.