EntryPoint Capital LLC Takes Position in Crown Holdings, Inc. (NYSE:CCK)

EntryPoint Capital LLC purchased a new position in shares of Crown Holdings, Inc. (NYSE:CCK) during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor purchased 4,241 shares of the industrial products company’s stock, valued at approximately $351,000.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Farther Finance Advisors LLC grew its holdings in shares of Crown by 160.0% during the fourth quarter. Farther Finance Advisors LLC now owns 416 shares of the industrial products company’s stock worth $34,000 after purchasing an additional 256 shares during the last quarter. Brooklyn Investment Group acquired a new position in Crown during the 3rd quarter worth about $44,000. GAMMA Investing LLC grew its holdings in Crown by 84.2% during the 4th 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 last quarter. Mirae Asset Global Investments Co. Ltd. increased its position in Crown by 20.0% in the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 702 shares of the industrial products company’s stock valued at $57,000 after acquiring an additional 117 shares in the last quarter. Finally, True Wealth Design LLC raised its stake in shares of Crown by 6,850.0% in the third quarter. True Wealth Design LLC now owns 695 shares of the industrial products company’s stock worth $67,000 after acquiring an additional 685 shares during the last quarter. 90.93% of the stock is owned by institutional investors and hedge funds.

Crown Stock Up 2.3 %

Shares of NYSE:CCK opened at $89.18 on Thursday. The company has a 50 day moving average price of $88.08 and a two-hundred day moving average price of $89.47. The company has a market capitalization of $10.48 billion, a PE ratio of 25.05, a PEG ratio of 1.56 and a beta of 0.88. Crown Holdings, Inc. has a 52 week low of $70.84 and a 52 week high of $98.46. 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 (NYSE:CCK) last issued 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 return on equity of 25.12% and a net margin of 3.59%. Analysts forecast that Crown Holdings, Inc. will post 6.96 earnings per share for the current year.

Crown Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 1st. Investors of record on Tuesday, March 18th will be given a $0.26 dividend. The ex-dividend date is Tuesday, March 18th. This is a positive change from Crown’s previous quarterly dividend of $0.25. This represents a $1.04 annualized dividend and a dividend yield of 1.17%. Crown’s payout ratio is currently 29.21%.

Analysts Set New Price Targets

Several research firms have recently commented on CCK. Bank of America decreased their price target on shares of Crown from $107.00 to $101.00 and set a “buy” rating on the stock in a research note on Monday, January 6th. Truist Financial lifted their target price on Crown from $103.00 to $104.00 and gave the company a “hold” rating in a research note on Monday, January 6th. Wells Fargo & Company upped their price target on Crown from $86.00 to $90.00 and gave the company an “equal weight” rating in a research note on Friday, February 7th. Barclays lowered their price objective on Crown from $112.00 to $109.00 and set an “overweight” rating for the company in a research report on Monday, February 10th. Finally, UBS Group reduced their target price on shares of Crown from $113.00 to $108.00 and set a “buy” rating on the stock in a research note on Friday, January 10th. Two investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $106.00.

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.