Inceptionr LLC Acquires Shares of 23,688 Crown Holdings, Inc. (NYSE:CCK)

Inceptionr LLC acquired a new stake in Crown Holdings, Inc. (NYSE:CCK) during the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor acquired 23,688 shares of the industrial products company’s stock, valued at approximately $1,959,000. Crown accounts for 0.4% of Inceptionr LLC’s holdings, making the stock its 25th biggest holding.

Other large investors have also recently added to or reduced their stakes in the company. Covestor Ltd increased its stake in Crown by 156.5% in the 3rd quarter. Covestor Ltd now owns 454 shares of the industrial products company’s stock valued at $44,000 after buying an additional 277 shares during the period. Brooklyn Investment Group bought a new stake in Crown in the third quarter worth approximately $44,000. GAMMA Investing LLC grew its position 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 in the last quarter. Catalyst Capital Advisors LLC bought a new stake in Crown in the third quarter worth approximately $48,000. Finally, Mirae Asset Global Investments Co. Ltd. bought a new stake in Crown in the third quarter worth approximately $55,000. Institutional investors and hedge funds own 90.93% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have commented on CCK shares. Royal Bank of Canada boosted their target price on shares of Crown from $113.00 to $115.00 and gave the stock an “outperform” rating in a research report on Friday, February 7th. StockNews.com raised shares of Crown from a “hold” rating to a “buy” rating in a research report on Friday, February 7th. Bank of America decreased their target price on shares of Crown from $107.00 to $101.00 and set a “buy” rating for the company in a research report on Monday, January 6th. Mizuho decreased their target price on shares of Crown from $110.00 to $100.00 and set an “outperform” rating for the company in a research report on Tuesday, January 7th. Finally, Citigroup upped their price objective on shares of Crown from $110.00 to $111.00 and gave the stock a “buy” rating in a report on Monday, January 6th. Two research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $106.00.

Crown Price Performance

Shares of Crown stock opened at $88.34 on Thursday. The company has a debt-to-equity ratio of 1.88, a current ratio of 1.22 and a quick ratio of 0.80. Crown Holdings, Inc. has a fifty-two week low of $70.84 and a fifty-two week high of $98.46. The firm has a fifty day moving average price of $85.79 and a two-hundred day moving average price of $89.53. The company has a market cap of $10.57 billion, a PE ratio of 24.81, a price-to-earnings-growth ratio of 1.56 and a beta of 0.87.

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

Crown Increases Dividend

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