New York State Common Retirement Fund Buys 2,500 Shares of Crown Holdings, Inc. (NYSE:CCK)

New York State Common Retirement Fund lifted its holdings in shares of Crown Holdings, Inc. (NYSE:CCK - Free Report) by 4.7% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 56,203 shares of the industrial products company's stock after purchasing an additional 2,500 shares during the quarter. New York State Common Retirement Fund's holdings in Crown were worth $5,017,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Mirae Asset Global Investments Co. Ltd. boosted its stake in Crown by 155.4% in the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,793 shares of the industrial products company's stock worth $158,000 after buying an additional 1,091 shares in the last quarter. GAMMA Investing LLC boosted its stake in Crown by 110.3% in the first quarter. GAMMA Investing LLC now owns 1,201 shares of the industrial products company's stock worth $107,000 after buying an additional 630 shares in the last quarter. Envestnet Portfolio Solutions Inc. purchased a new stake in Crown in the first quarter worth approximately $820,000. State of Alaska Department of Revenue boosted its stake in Crown by 1.6% in the first quarter. State of Alaska Department of Revenue now owns 13,695 shares of the industrial products company's stock worth $1,222,000 after buying an additional 215 shares in the last quarter. Finally, NewEdge Advisors LLC boosted its stake in Crown by 588.0% in the fourth quarter. NewEdge Advisors LLC now owns 5,566 shares of the industrial products company's stock worth $460,000 after buying an additional 4,757 shares in the last quarter. Hedge funds and other institutional investors own 90.93% of the company's stock.

Analyst Ratings Changes

Several analysts have weighed in on the company. Bank of America boosted their price objective on Crown from $110.00 to $117.00 and gave the company a "buy" rating in a research report on Wednesday, July 9th. Wells Fargo & Company boosted their price objective on Crown from $101.00 to $110.00 and gave the company an "equal weight" rating in a research report on Friday, July 18th. Barclays boosted their price objective on Crown from $109.00 to $117.00 and gave the company an "overweight" rating in a research report on Wednesday, April 30th. Truist Financial reiterated a "hold" rating and issued a $118.00 price objective (up previously from $117.00) on shares of Crown in a research report on Wednesday. Finally, Morgan Stanley boosted their price objective on Crown from $114.00 to $118.00 and gave the company an "overweight" rating in a research report on Wednesday, June 25th. Four research analysts have rated the stock with a hold rating and ten have given a buy rating to the company. According to MarketBeat, Crown currently has an average rating of "Moderate Buy" and a consensus price target of $120.67.

Crown Stock Down 0.9%

CCK traded down $0.91 during trading on Thursday, reaching $104.43. The stock had a trading volume of 707,541 shares, compared to its average volume of 1,296,177. The stock's 50 day moving average is $102.46 and its two-hundred day moving average is $93.05. The company has a current ratio of 1.06, a quick ratio of 0.56 and a debt-to-equity ratio of 1.67. The company has a market capitalization of $12.15 billion, a price-to-earnings ratio of 21.94, a P/E/G ratio of 1.71 and a beta of 0.76. Crown Holdings, Inc. has a one year low of $75.98 and a one year high of $109.48.

Crown (NYSE:CCK - Get Free Report) last posted its quarterly earnings data on Monday, July 21st. The industrial products company reported $2.15 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.86 by $0.29. The business had revenue of $3.15 billion during the quarter, compared to the consensus estimate of $3.10 billion. Crown had a return on equity of 27.15% and a net margin of 4.64%. The firm's quarterly revenue was up 3.6% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.81 earnings per share. As a group, analysts expect that Crown Holdings, Inc. will post 6.96 earnings per share for the current year.

Crown Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, May 29th. Investors of record on Thursday, May 15th were given a dividend of $0.26 per share. The ex-dividend date was Thursday, May 15th. This represents a $1.04 annualized dividend and a dividend yield of 1.00%. Crown's dividend payout ratio (DPR) is presently 21.85%.

Insider Buying and Selling at Crown

In other Crown news, COO Gerard H. Gifford sold 7,000 shares of the firm's stock in a transaction dated Friday, May 2nd. The stock was sold at an average price of $97.00, for a total value of $679,000.00. Following the transaction, the chief operating officer directly owned 135,014 shares of the company's stock, valued at approximately $13,096,358. This trade represents a 4.93% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, VP Christy L. Kalaus sold 2,130 shares of Crown stock in a transaction dated Friday, May 16th. The shares were sold at an average price of $99.41, for a total value of $211,743.30. Following the transaction, the vice president directly owned 4,500 shares in the company, valued at approximately $447,345. The trade was a 32.13% decrease in their ownership of the stock. The disclosure for this sale can be found here. Company 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.