Korea Investment CORP Boosts Stock Holdings in Crown Holdings, Inc. (NYSE:CCK)

Korea Investment CORP lifted its holdings in shares of Crown Holdings, Inc. (NYSE:CCK) by 99.1% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 143,252 shares of the industrial products company’s stock after buying an additional 71,300 shares during the quarter. Korea Investment CORP’s holdings in Crown were worth $11,846,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently bought and sold shares of the business. Citigroup Inc. boosted its holdings in shares of Crown by 11.0% in the third quarter. Citigroup Inc. now owns 73,654 shares of the industrial products company’s stock worth $7,062,000 after acquiring an additional 7,319 shares during the period. Algert Global LLC bought a new position in Crown in the 3rd quarter worth about $468,000. Bank of Montreal Can increased its position in shares of Crown by 672.7% during the third quarter. Bank of Montreal Can now owns 111,426 shares of the industrial products company’s stock valued at $10,557,000 after buying an additional 97,006 shares during the period. BNP Paribas Financial Markets lifted its holdings in shares of Crown by 34.8% in the third quarter. BNP Paribas Financial Markets now owns 44,691 shares of the industrial products company’s stock worth $4,285,000 after buying an additional 11,540 shares in the last quarter. Finally, Vinva Investment Management Ltd bought a new position in shares of Crown in the third quarter valued at approximately $366,000. 90.93% of the stock is owned by institutional investors.

Crown Stock Down 1.8 %

Shares of NYSE CCK opened at $88.19 on Monday. The stock has a market capitalization of $10.31 billion, a P/E ratio of 24.77, a PEG ratio of 1.56 and a beta of 0.88. 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 one year low of $70.84 and a one year high of $98.46. The firm’s 50 day simple moving average is $88.32 and its two-hundred day simple moving average is $89.45.

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

Crown Increases Dividend

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

Analysts Set New Price Targets

A number of analysts recently weighed in on the stock. Bank of America decreased their target price on shares of Crown from $107.00 to $101.00 and set a “buy” rating on the stock in a report on Monday, January 6th. Royal Bank of Canada upped their price target on shares of Crown from $113.00 to $115.00 and gave the stock an “outperform” rating in a report on Friday, February 7th. Barclays dropped their price objective on Crown from $112.00 to $109.00 and set an “overweight” rating for the company in a research note on Monday, February 10th. UBS Group cut their price objective on Crown from $113.00 to $108.00 and set a “buy” rating for the company in a report on Friday, January 10th. Finally, Wells Fargo & Company upped their price objective 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. Two equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $106.00.

Crown 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.