New York State Common Retirement Fund Sells 10,628 Shares of Crown Holdings, Inc. (NYSE:CCK)

New York State Common Retirement Fund trimmed its holdings in shares of Crown Holdings, Inc. (NYSE:CCK) by 12.7% in the 4th quarter, Holdings Channel reports. The firm owned 73,200 shares of the industrial products company’s stock after selling 10,628 shares during the quarter. New York State Common Retirement Fund’s holdings in Crown were worth $6,741,000 at the end of the most recent quarter.

Other hedge funds have also recently made changes to their positions in the company. Victory Capital Management Inc. boosted its position in Crown by 9.6% in the 3rd quarter. Victory Capital Management Inc. now owns 4,786,441 shares of the industrial products company’s stock valued at $423,504,000 after buying an additional 418,220 shares during the period. FMR LLC grew its stake in Crown by 8.6% in the third quarter. FMR LLC now owns 3,776,097 shares of the industrial products company’s stock worth $334,109,000 after purchasing an additional 298,766 shares in the last quarter. Toronto Dominion Bank increased its holdings in Crown by 41.9% during the 3rd quarter. Toronto Dominion Bank now owns 2,213,904 shares of the industrial products company’s stock worth $195,886,000 after purchasing an additional 654,082 shares during the period. Impax Asset Management Group plc lifted its holdings in shares of Crown by 7.1% in the 4th quarter. Impax Asset Management Group plc now owns 2,013,351 shares of the industrial products company’s stock worth $185,409,000 after buying an additional 133,813 shares during the period. Finally, Hsbc Holdings PLC increased its stake in shares of Crown by 46.7% during the third quarter. Hsbc Holdings PLC now owns 1,414,343 shares of the industrial products company’s stock valued at $125,449,000 after buying an additional 450,087 shares during the period. 90.93% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts have commented on the stock. Mizuho cut their target price on shares of Crown from $105.00 to $96.00 and set a “buy” rating on the stock in a research report on Tuesday, February 6th. UBS Group began coverage on shares of Crown in a report on Tuesday, January 16th. They set a “buy” rating and a $112.00 price objective on the stock. Wolfe Research began coverage on Crown in a report on Friday, March 1st. They set an “outperform” rating and a $102.00 target price for the company. Loop Capital lifted their price target on Crown from $101.00 to $106.00 and gave the company a “buy” rating in a report on Wednesday. Finally, Robert W. Baird lifted their target price on Crown from $90.00 to $100.00 and gave the company an “outperform” rating in a research note on Wednesday. Four analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $99.29.

Crown Stock Up 0.1 %

Crown stock opened at $82.47 on Friday. Crown Holdings, Inc. has a fifty-two week low of $69.61 and a fifty-two week high of $96.35. The company has a market cap of $9.96 billion, a PE ratio of 23.77, a PEG ratio of 2.82 and a beta of 0.88. The company has a debt-to-equity ratio of 2.26, a quick ratio of 0.77 and a current ratio of 1.19. The business’s 50-day simple moving average is $78.16 and its two-hundred day simple moving average is $82.63.

Crown (NYSE:CCK) last issued its earnings results on Monday, April 29th. The industrial products company reported $1.02 EPS for the quarter, beating analysts’ consensus estimates of $0.96 by $0.06. Crown had a return on equity of 23.95% and a net margin of 3.51%. The firm had revenue of $2.78 billion for the quarter, compared to analyst estimates of $2.93 billion. During the same quarter in the prior year, the firm earned $1.20 earnings per share. Crown’s revenue for the quarter was down 6.4% on a year-over-year basis. Equities analysts anticipate that Crown Holdings, Inc. will post 5.9 EPS for the current year.

Crown Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, June 27th. Shareholders of record on Thursday, June 13th will be paid a dividend of $0.25 per share. The ex-dividend date is Thursday, June 13th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.21%. Crown’s payout ratio is currently 28.82%.

Insider Activity

In related news, CEO Timothy J. Donahue sold 22,500 shares of the firm’s stock in a transaction dated Tuesday, April 30th. The stock was sold at an average price of $85.18, for a total transaction of $1,916,550.00. Following the sale, the chief executive officer now directly owns 616,178 shares of the company’s stock, valued at $52,486,042.04. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Insiders own 0.90% of the company’s stock.

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.