State Board of Administration of Florida Retirement System Has $12.62 Million Holdings in Crown Holdings, Inc. (NYSE:CCK)

State Board of Administration of Florida Retirement System lessened its stake in shares of Crown Holdings, Inc. (NYSE:CCKGet Rating) by 2.6% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 136,955 shares of the industrial products company’s stock after selling 3,631 shares during the period. State Board of Administration of Florida Retirement System owned about 0.11% of Crown worth $12,623,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently bought and sold shares of the business. Quent Capital LLC grew its stake in shares of Crown by 92.7% in the 1st quarter. Quent Capital LLC now owns 237 shares of the industrial products company’s stock valued at $30,000 after buying an additional 114 shares in the last quarter. Meeder Asset Management Inc. grew its stake in shares of Crown by 187.6% in the 1st quarter. Meeder Asset Management Inc. now owns 302 shares of the industrial products company’s stock valued at $38,000 after buying an additional 197 shares in the last quarter. Arlington Partners LLC bought a new stake in shares of Crown in the 2nd quarter valued at approximately $43,000. Cullen Frost Bankers Inc. bought a new stake in shares of Crown in the 1st quarter valued at approximately $63,000. Finally, NuWave Investment Management LLC bought a new stake in shares of Crown in the 2nd quarter valued at approximately $66,000. Hedge funds and other institutional investors own 91.84% of the company’s stock.

Crown Stock Performance

Shares of NYSE CCK opened at $72.22 on Thursday. The business has a fifty day simple moving average of $83.45 and a 200 day simple moving average of $93.28. The company has a current ratio of 1.24, a quick ratio of 0.69 and a debt-to-equity ratio of 3.14. The firm has a market capitalization of $8.66 billion, a price-to-earnings ratio of -26.55, a PEG ratio of 2.25 and a beta of 1.05. Crown Holdings, Inc. has a one year low of $66.00 and a one year high of $130.42.

Crown (NYSE:CCKGet Rating) last issued its earnings results on Tuesday, October 25th. The industrial products company reported $1.46 EPS for the quarter, missing analysts’ consensus estimates of $1.77 by ($0.31). The firm had revenue of $3.26 billion during the quarter, compared to analyst estimates of $3.28 billion. Crown had a negative net margin of 2.80% and a positive return on equity of 39.93%. The business’s revenue for the quarter was up 11.6% compared to the same quarter last year. During the same quarter in the previous year, the company posted $2.03 earnings per share. Sell-side analysts expect that Crown Holdings, Inc. will post 6.66 EPS for the current year.

Crown Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 25th. Shareholders of record on Thursday, November 10th will be paid a dividend of $0.22 per share. The ex-dividend date is Wednesday, November 9th. This represents a $0.88 annualized dividend and a yield of 1.22%. Crown’s dividend payout ratio is currently -32.35%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on CCK shares. Morgan Stanley decreased their target price on Crown from $120.00 to $110.00 and set an “overweight” rating for the company in a research report on Wednesday, October 26th. Wells Fargo & Company decreased their target price on Crown from $92.00 to $76.00 and set an “equal weight” rating for the company in a research report on Wednesday, October 26th. UBS Group started coverage on Crown in a research report on Thursday, September 15th. They set a “neutral” rating and a $105.00 target price for the company. Truist Financial decreased their target price on Crown from $147.00 to $130.00 and set a “buy” rating for the company in a research report on Friday, July 22nd. Finally, Citigroup decreased their target price on Crown from $116.00 to $97.00 and set a “buy” rating for the company in a research report on Tuesday, October 11th. Five analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. According to MarketBeat.com, Crown has a consensus rating of “Moderate Buy” and an average target price of $97.13.

Insiders Place Their Bets

In other Crown news, VP Christy L. Kalaus sold 500 shares of the stock in a transaction on Thursday, September 8th. The stock was sold at an average price of $93.90, for a total transaction of $46,950.00. Following the completion of the transaction, the vice president now directly owns 4,894 shares in the company, valued at $459,546.60. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 1.80% of the company’s stock.

Crown Company Profile

(Get Rating)

Crown Holdings, Inc designs, manufactures, and sells packaging products and equipment for consumer goods and industrial products in the Americas, Europe, and the Asia Pacific. It offers products for consumer goods, including steel and aluminum cans for food and beverage industries. The company also provides products for industrial products, such as steel and plastic strap consumables and equipment, paper-based protective packaging, and plastic film consumables and equipment to metals, food and beverage, construction, agricultural, corrugated, and general industries.

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Institutional Ownership by Quarter for Crown (NYSE:CCK)

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