SVB Wealth LLC Makes New $323,000 Investment in Crown Holdings, Inc. (NYSE:CCK)

SVB Wealth LLC acquired a new stake in shares of Crown Holdings, Inc. (NYSE:CCK) in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor acquired 3,904 shares of the industrial products company’s stock, valued at approximately $323,000.

A number of other institutional investors also recently modified their holdings of CCK. Covestor Ltd raised its position in Crown by 156.5% during the 3rd quarter. Covestor Ltd now owns 454 shares of the industrial products company’s stock valued at $44,000 after purchasing an additional 277 shares during the last quarter. Brooklyn Investment Group purchased a new position in shares of Crown during the third quarter valued at approximately $44,000. Catalyst Capital Advisors LLC bought a new position in shares of Crown during the third quarter valued at approximately $48,000. GAMMA Investing LLC lifted its stake in Crown by 84.2% in the fourth quarter. GAMMA Investing LLC now owns 571 shares of the industrial products company’s stock worth $47,000 after acquiring an additional 261 shares during the period. Finally, Mirae Asset Global Investments Co. Ltd. bought a new stake in Crown in the third quarter valued at $55,000. 90.93% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on CCK. Wells Fargo & Company raised their target price on shares of Crown from $86.00 to $90.00 and gave the stock an “equal weight” rating in a research report on Friday, February 7th. Morgan Stanley raised Crown from an “equal weight” rating to an “overweight” rating and cut their price objective for the company from $109.00 to $105.00 in a research report on Monday, January 13th. Bank of America decreased their target price on Crown from $107.00 to $101.00 and set a “buy” rating for the company in a research report on Monday, January 6th. UBS Group dropped their price target 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, Truist Financial increased their price objective on Crown from $103.00 to $104.00 and gave the stock a “hold” rating in a report on Monday, January 6th. Two equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $106.00.

Crown Stock Performance

Shares of CCK stock opened at $88.34 on Thursday. The company has a market capitalization of $10.57 billion, a price-to-earnings ratio of 24.81, a price-to-earnings-growth ratio of 1.56 and a beta of 0.87. The company has a debt-to-equity ratio of 1.88, a quick ratio of 0.80 and a current ratio of 1.22. Crown Holdings, Inc. has a one year low of $70.84 and a one year high of $98.46. The company’s 50-day moving average is $85.79 and its 200 day moving average is $89.53.

Crown (NYSE:CCK) last announced its quarterly earnings results on Wednesday, February 5th. The industrial products company reported $1.59 earnings per share 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%. Sell-side analysts expect that Crown Holdings, Inc. will post 6.96 EPS for the current fiscal year.

Crown Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, April 1st. Stockholders of record on Tuesday, March 18th will be paid a $0.26 dividend. The ex-dividend date is Tuesday, March 18th. This represents a $1.04 annualized dividend and a dividend yield of 1.18%. This is a boost from Crown’s previous quarterly dividend of $0.25. Crown’s payout ratio is currently 29.21%.

About Crown

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.