Crown Holdings, Inc. $CCK Shares Newly Acquired by Quadcap Wealth Management LLC

Quadcap Wealth Management LLC purchased a new position in shares of Crown Holdings, Inc. (NYSE:CCK) in the third quarter, HoldingsChannel.com reports. The fund purchased 5,069 shares of the industrial products company’s stock, valued at approximately $534,000.

Several other large investors have also bought and sold shares of CCK. Community Bank N.A. bought a new stake in shares of Crown during the second quarter worth $32,000. Pension & Wealth Management Advisors Inc. acquired a new position in Crown during the 3rd quarter worth about $32,000. Elevation Wealth Partners LLC lifted its holdings in Crown by 628.8% during the 2nd quarter. Elevation Wealth Partners LLC now owns 481 shares of the industrial products company’s stock worth $54,000 after buying an additional 415 shares during the period. Ballast Advisors LLC acquired a new stake in shares of Crown in the first quarter valued at about $57,000. Finally, Provenance Wealth Advisors LLC acquired a new stake in Crown during the 3rd quarter valued at approximately $73,000. 90.93% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on the company. Citigroup lifted their price objective on Crown from $137.00 to $139.00 and gave the stock a “buy” rating in a research report on Wednesday, October 21st. Raymond James Financial boosted their price objective on Crown from $125.00 to $135.00 and gave the company an “outperform” rating in a report on Wednesday, July 15th. Mizuho increased their target price on Crown from $130.00 to $135.00 and gave the stock an “outperform” rating in a report on Tuesday, July 21st. BMO Capital Markets lifted their price target on Crown from $130.00 to $135.00 and gave the company an “outperform” rating in a research note on Wednesday, July 22nd. Finally, Deutsche Bank Aktiengesellschaft reiterated a “buy” rating on shares of Crown in a research note on Wednesday, July 22nd. Eleven research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $128.47.

Crown Stock Performance

Shares of NYSE:CCK traded down $0.55 during mid-day trading on Friday, reaching $121.31. The company had a trading volume of 874,384 shares, compared to its average volume of 846,848. The company has a current ratio of 1.14, a quick ratio of 0.71 and a debt-to-equity ratio of 1.65. The firm has a market cap of $13.11 billion, a price-to-earnings ratio of 16.90, a PEG ratio of 1.54 and a beta of 0.54. The company’s 50-day moving average price is $113.11 and its 200-day moving average price is $108.92. Crown Holdings, Inc. has a one year low of $91.31 and a one year high of $126.36.

Crown (NYSE:CCK) last announced its quarterly earnings data on Monday, October 19th. The industrial products company reported $2.39 earnings per share for the quarter, beating the consensus estimate of $2.26 by $0.13. Crown had a return on equity of 27.41% and a net margin of 5.78%. The business had revenue of $3.71 billion during the quarter, compared to analyst estimates of $3.45 billion. During the same period in the prior year, the company earned $2.24 earnings per share. Crown’s revenue was up 15.9% compared to the same quarter last year. As a group, equities research analysts anticipate that Crown Holdings, Inc. will post 8.41 EPS for the current fiscal year.

Crown Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, November 19th. Investors of record on Thursday, November 5th will be paid a $0.35 dividend. This represents a $1.40 dividend on an annualized basis and a yield of 1.2%. The ex-dividend date is Thursday, November 5th. Crown’s payout ratio is currently 19.50%.

Crown Company Profile

Crown Holdings, Inc (NYSE: CCK) is a global packaging company that designs, manufactures and sells metal packaging products. Its portfolio includes beverage cans, food cans, aerosol cans, closures and other specialty packaging used by consumer goods, food and beverage, household, personal care and industrial customers.

The company serves customers across North America, Europe, Asia Pacific and other international markets. Crown’s products are used for beer, soft drinks, energy drinks, canned foods, household products, personal care items and industrial materials.