Korea Investment CORP Purchases 71,300 Shares of Crown Holdings, Inc. (NYSE:CCK)

Korea Investment CORP raised its position in shares of Crown Holdings, Inc. (NYSE:CCK) by 99.1% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 143,252 shares of the industrial products company’s stock after acquiring an additional 71,300 shares during the quarter. Korea Investment CORP owned about 0.12% of Crown worth $11,846,000 as of its most recent SEC filing.

Other large investors have also recently bought and sold shares of the company. Farther Finance Advisors LLC boosted its position in shares of Crown by 160.0% during the 4th quarter. Farther Finance Advisors LLC now owns 416 shares of the industrial products company’s stock valued at $34,000 after purchasing an additional 256 shares in the last quarter. GAMMA Investing LLC lifted its stake in Crown by 84.2% in the fourth quarter. GAMMA Investing LLC now owns 571 shares of the industrial products company’s stock valued at $47,000 after buying an additional 261 shares during the period. Mirae Asset Global Investments Co. Ltd. boosted its holdings in shares of Crown by 20.0% during the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 702 shares of the industrial products company’s stock worth $57,000 after buying an additional 117 shares in the last quarter. True Wealth Design LLC grew its position in shares of Crown by 6,850.0% during the 3rd quarter. True Wealth Design LLC now owns 695 shares of the industrial products company’s stock worth $67,000 after buying an additional 685 shares during the period. Finally, Venturi Wealth Management LLC increased its stake in shares of Crown by 48.6% in the 4th quarter. Venturi Wealth Management LLC now owns 823 shares of the industrial products company’s stock valued at $68,000 after acquiring an additional 269 shares in the last quarter. 90.93% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

CCK has been the subject of several research analyst reports. Bank of America decreased their price target on shares of Crown from $107.00 to $101.00 and set a “buy” rating for the company in a research note on Monday, January 6th. Wells Fargo & Company boosted their target price on Crown from $86.00 to $90.00 and gave the company an “equal weight” rating in a research report on Friday, February 7th. Truist Financial increased their price target on Crown from $103.00 to $104.00 and gave the stock a “hold” rating in a report on Monday, January 6th. Citigroup boosted their price objective on Crown from $110.00 to $111.00 and gave the company a “buy” rating in a report on Monday, January 6th. Finally, StockNews.com upgraded Crown from a “hold” rating to a “buy” rating in a report on Friday, February 7th. Two analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $106.00.

Crown Stock Performance

Shares of CCK opened at $88.19 on Monday. The stock has a 50 day moving average of $88.32 and a 200 day moving average of $89.45. The company has a current ratio of 1.22, a quick ratio of 0.80 and a debt-to-equity ratio of 1.88. Crown Holdings, Inc. has a 12 month low of $70.84 and a 12 month high of $98.46. The company has a market capitalization of $10.31 billion, a price-to-earnings ratio of 24.77, a PEG ratio of 1.56 and a beta of 0.88.

Crown (NYSE:CCK) last released 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 return on equity of 25.12% and a net margin of 3.59%. As a group, sell-side analysts forecast that Crown Holdings, Inc. will post 6.96 earnings per share for the current year.

Crown Increases Dividend

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

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.