Leith Wheeler Investment Counsel Ltd. lifted its holdings in Crown Holdings, Inc. (NYSE:CCK – Get Rating) by 16.6% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 113,355 shares of the industrial products company’s stock after purchasing an additional 16,150 shares during the quarter. Crown accounts for approximately 1.4% of Leith Wheeler Investment Counsel Ltd.’s holdings, making the stock its 15th largest position. Leith Wheeler Investment Counsel Ltd. owned approximately 0.09% of Crown worth $9,319,000 as of its most recent SEC filing.
Other institutional investors and hedge funds also recently modified their holdings of the company. Credit Suisse AG grew its stake in shares of Crown by 0.8% in the third quarter. Credit Suisse AG now owns 631,319 shares of the industrial products company’s stock worth $51,155,000 after purchasing an additional 5,163 shares in the last quarter. Mitsubishi UFJ Trust & Banking Corp grew its stake in shares of Crown by 7.7% in the second quarter. Mitsubishi UFJ Trust & Banking Corp now owns 69,317 shares of the industrial products company’s stock worth $6,389,000 after purchasing an additional 4,929 shares in the last quarter. Creative Planning grew its stake in shares of Crown by 11.4% in the third quarter. Creative Planning now owns 6,228 shares of the industrial products company’s stock worth $505,000 after purchasing an additional 638 shares in the last quarter. Forsta AP Fonden boosted its stake in Crown by 14.2% during the 2nd quarter. Forsta AP Fonden now owns 37,000 shares of the industrial products company’s stock valued at $3,410,000 after purchasing an additional 4,600 shares in the last quarter. Finally, Barclays PLC increased its position in shares of Crown by 102.6% during the 3rd quarter. Barclays PLC now owns 194,051 shares of the industrial products company’s stock valued at $15,723,000 after purchasing an additional 98,274 shares during the period.
Analysts Set New Price Targets
Several equities analysts have recently issued reports on the company. Royal Bank of Canada lifted their price target on Crown from $96.00 to $97.00 and gave the company an “outperform” rating in a research report on Friday, February 10th. UBS Group lowered their price target on Crown from $105.00 to $90.00 and set a “neutral” rating on the stock in a research report on Thursday, December 15th. Robert W. Baird cut Crown from an “outperform” rating to a “neutral” rating and set a $80.00 price target on the stock. in a research report on Wednesday, January 4th. TheStreet upgraded Crown from a “c” rating to a “b-” rating in a research report on Wednesday, February 8th. Finally, StockNews.com began coverage on Crown in a research report on Thursday. They set a “sell” rating on the stock. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and eight have issued a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $97.73.
Crown Stock Down 2.1 %
Crown (NYSE:CCK – Get Rating) last announced its quarterly earnings data on Wednesday, February 8th. The industrial products company reported $1.17 EPS for the quarter, topping analysts’ consensus estimates of $1.07 by $0.10. Crown had a return on equity of 36.97% and a net margin of 5.62%. The firm had revenue of $3.01 billion during the quarter, compared to analyst estimates of $3.12 billion. During the same period last year, the company posted $1.66 EPS. The business’s quarterly revenue was down 1.4% compared to the same quarter last year. Sell-side analysts predict that Crown Holdings, Inc. will post 6.27 EPS for the current year.
Crown Increases Dividend
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, March 23rd. Shareholders of record on Thursday, March 9th will be given a dividend of $0.24 per share. The ex-dividend date is Wednesday, March 8th. This is a positive change from Crown’s previous quarterly dividend of $0.22. This represents a $0.96 dividend on an annualized basis and a yield of 1.25%. Crown’s dividend payout ratio (DPR) is presently 16.08%.
Crown Holdings, Inc engages in the design, manufacture, and sale of packaging products and equipment for consumer goods. The firm offers aerosol cans, beverage, promotional, and transit packaging, closures and capping, and food cans. It operates through the following segments: Americas, Europe, Asia Pacific, and Transit Packaging.
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