Ieq Capital LLC Raises Stock Position in Crown Holdings, Inc. (NYSE:CCK)

Ieq Capital LLC lifted its stake in shares of Crown Holdings, Inc. (NYSE:CCK) by 469.5% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 59,016 shares of the industrial products company’s stock after acquiring an additional 48,654 shares during the quarter. Ieq Capital LLC’s holdings in Crown were worth $4,880,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of CCK. Covestor Ltd increased its position in shares of Crown by 156.5% during the third quarter. Covestor Ltd now owns 454 shares of the industrial products company’s stock worth $44,000 after acquiring an additional 277 shares during the period. Brooklyn Investment Group purchased a new position in shares of Crown during the third quarter worth approximately $44,000. GAMMA Investing LLC increased its position in shares of Crown by 84.2% during the fourth quarter. GAMMA Investing LLC now owns 571 shares of the industrial products company’s stock worth $47,000 after acquiring an additional 261 shares during the period. Catalyst Capital Advisors LLC purchased a new position in shares of Crown during the third quarter worth approximately $48,000. Finally, Mirae Asset Global Investments Co. Ltd. purchased a new position in shares of Crown during the third quarter worth approximately $55,000. 90.93% of the stock is owned by hedge funds and other institutional investors.

Crown Price Performance

Shares of CCK opened at $87.33 on Friday. The company has a market cap of $10.45 billion, a price-to-earnings ratio of 24.53, a price-to-earnings-growth ratio of 1.55 and a beta of 0.87. Crown Holdings, Inc. has a twelve month low of $70.84 and a twelve month high of $98.46. The company has a quick ratio of 0.80, a current ratio of 1.22 and a debt-to-equity ratio of 1.88. The company has a 50 day moving average of $85.25 and a two-hundred day moving average of $89.42.

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

Analyst Ratings Changes

Several brokerages recently issued reports on CCK. UBS Group cut their price objective on shares of Crown from $113.00 to $108.00 and set a “buy” rating on the stock in a report on Friday, January 10th. Barclays cut their price objective on shares of Crown from $112.00 to $109.00 and set an “overweight” rating on the stock in a report on Monday, February 10th. Truist Financial lifted their price objective on shares of Crown from $103.00 to $104.00 and gave the company a “hold” rating in a report on Monday, January 6th. Citigroup lifted their price objective on shares of Crown from $110.00 to $111.00 and gave the company a “buy” rating in a report on Monday, January 6th. Finally, Royal Bank of Canada lifted their price objective on shares of Crown from $113.00 to $115.00 and gave the company an “outperform” rating in a report on Friday, February 7th. Two analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. Based on data from MarketBeat.com, Crown currently has an average rating of “Moderate Buy” and an average price target of $105.69.

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.