Proficio Capital Partners LLC Makes New Investment in Crown Holdings, Inc. (NYSE:CCK)

Proficio Capital Partners LLC purchased a new stake in Crown Holdings, Inc. (NYSE:CCK) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 22,780 shares of the industrial products company’s stock, valued at approximately $1,884,000.

A number of other hedge funds have also modified their holdings of CCK. Victory Capital Management Inc. grew its holdings in Crown by 1.8% during the 4th quarter. Victory Capital Management Inc. now owns 5,779,691 shares of the industrial products company’s stock valued at $477,923,000 after buying an additional 102,789 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its stake in shares of Crown by 1.1% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 812,474 shares of the industrial products company’s stock valued at $67,183,000 after acquiring an additional 8,739 shares during the last quarter. Jones Financial Companies Lllp boosted its stake in shares of Crown by 325.1% during the fourth quarter. Jones Financial Companies Lllp now owns 846 shares of the industrial products company’s stock valued at $70,000 after acquiring an additional 647 shares during the last quarter. Metis Global Partners LLC raised its stake in Crown by 3.8% in the 4th quarter. Metis Global Partners LLC now owns 5,349 shares of the industrial products company’s stock valued at $442,000 after purchasing an additional 194 shares during the last quarter. Finally, US Bancorp DE lifted its holdings in Crown by 41.5% in the 4th quarter. US Bancorp DE now owns 3,039 shares of the industrial products company’s stock valued at $251,000 after purchasing an additional 891 shares in the last quarter. 90.93% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

CCK has been the subject of a number of analyst reports. Royal Bank of Canada boosted their price objective on shares of Crown from $113.00 to $115.00 and gave the company an “outperform” rating in a research report on Friday, February 7th. Barclays cut their price target on Crown from $112.00 to $109.00 and set an “overweight” rating for the company in a report on Monday, February 10th. Morgan Stanley raised Crown from an “equal weight” rating to an “overweight” rating and lowered their price objective for the company from $109.00 to $105.00 in a research report on Monday, January 13th. Wells Fargo & Company increased their target price on Crown from $86.00 to $90.00 and gave the stock an “equal weight” rating in a research report on Friday, February 7th. Finally, StockNews.com upgraded Crown from a “hold” rating to a “buy” rating in a report on Friday, February 7th. Two research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $106.00.

Crown Trading Up 0.2 %

NYSE CCK opened at $90.58 on Thursday. The firm has a market capitalization of $10.65 billion, a price-to-earnings ratio of 25.44, a PEG ratio of 1.56 and a beta of 0.88. 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 price is $87.31 and its 200 day moving average price is $89.54.

Crown (NYSE:CCK) last issued its earnings results on Wednesday, February 5th. The industrial products company reported $1.59 EPS 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%. On average, sell-side analysts predict that Crown Holdings, Inc. will post 6.96 EPS for the current year.

Crown Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, April 1st. Stockholders of record on Tuesday, March 18th will be given a $0.26 dividend. This is an increase from Crown’s previous quarterly dividend of $0.25. The ex-dividend date is Tuesday, March 18th. This represents a $1.04 annualized dividend and a dividend yield of 1.15%. Crown’s dividend payout ratio is presently 29.21%.

Crown Company Profile

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.