Inceptionr LLC Takes $1.96 Million Position in Crown Holdings, Inc. (NYSE:CCK)

Inceptionr LLC acquired a new stake in Crown Holdings, Inc. (NYSE:CCK) in the fourth quarter, according to the company in its most recent 13F 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 makes up approximately 0.4% of Inceptionr LLC’s holdings, making the stock its 25th biggest position.

A number of other hedge funds also recently made changes to their positions in CCK. Covestor Ltd raised its stake in shares of 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 in the last quarter. Brooklyn Investment Group acquired a new stake in shares of Crown during the 3rd quarter worth about $44,000. GAMMA Investing LLC increased its position in shares of Crown by 84.2% during the 4th quarter. GAMMA Investing LLC now owns 571 shares of the industrial products company’s stock worth $47,000 after purchasing an additional 261 shares in the last quarter. Catalyst Capital Advisors LLC acquired a new stake in shares of Crown during the 3rd quarter worth about $48,000. Finally, Mirae Asset Global Investments Co. Ltd. acquired a new stake in shares of Crown during the 3rd quarter worth about $55,000. Institutional investors and hedge funds own 90.93% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts recently issued reports on CCK shares. Truist Financial increased their target price on shares of Crown from $103.00 to $104.00 and gave the stock a “hold” rating in a research report on Monday, January 6th. Barclays dropped their target price on shares of Crown from $112.00 to $109.00 and set an “overweight” rating for the company in a research report on Monday, February 10th. Mizuho dropped 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. Royal Bank of Canada increased 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. Finally, Citigroup increased their target price on shares of Crown from $110.00 to $111.00 and gave the stock a “buy” rating in a research report on Monday, January 6th. Two analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. Based on data from MarketBeat, Crown currently has a consensus rating of “Moderate Buy” and an average target price of $106.00.

Crown Stock Up 2.7 %

Shares of NYSE CCK opened at $88.34 on Thursday. The firm has a market capitalization 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. The company has a current ratio of 1.22, a quick ratio of 0.80 and a debt-to-equity ratio of 1.88. Crown Holdings, Inc. has a 1 year low of $70.84 and a 1 year high of $98.46. The firm’s 50-day moving average is $85.79 and its 200-day moving average is $89.53.

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

Crown Increases Dividend

The firm also recently announced 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. This represents a $1.04 annualized dividend and a dividend yield of 1.18%. The ex-dividend date of this dividend is Tuesday, March 18th. This is a positive change from Crown’s previous quarterly dividend of $0.25. Crown’s dividend payout ratio (DPR) 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.