New York State Common Retirement Fund Decreases Stock Holdings in Crown Holdings, Inc. (NYSE:CCK)

New York State Common Retirement Fund cut its stake in shares of Crown Holdings, Inc. (NYSE:CCK - Free Report) by 12.7% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 73,200 shares of the industrial products company's stock after selling 10,628 shares during the period. New York State Common Retirement Fund owned about 0.06% of Crown worth $6,741,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. BluePath Capital Management LLC bought a new stake in shares of Crown during the 3rd quarter valued at about $25,000. Sound Income Strategies LLC bought a new position in Crown in the fourth quarter worth approximately $26,000. Fifth Third Bancorp boosted its stake in shares of Crown by 46.0% during the 3rd quarter. Fifth Third Bancorp now owns 1,009 shares of the industrial products company's stock worth $89,000 after acquiring an additional 318 shares during the last quarter. Picton Mahoney Asset Management lifted its position in Crown by 53.9% during the third quarter. Picton Mahoney Asset Management now owns 1,036 shares of the industrial products company's stock valued at $92,000 after purchasing an additional 363 shares in the last quarter. Finally, Steph & Co. purchased a new stake in Crown in the third quarter worth about $111,000. Institutional investors own 90.93% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on the stock. Royal Bank of Canada reduced their target price on shares of Crown from $110.00 to $97.00 and set an "outperform" rating for the company in a report on Thursday, February 8th. Truist Financial restated a "hold" rating and set a $88.00 target price (down previously from $100.00) on shares of Crown in a research note on Wednesday, March 27th. UBS Group began coverage on Crown in a research note on Tuesday, January 16th. They issued a "buy" rating and a $112.00 price target for the company. JPMorgan Chase & Co. boosted their price objective on Crown from $85.00 to $90.00 and gave the company an "overweight" rating in a research report on Wednesday. Finally, Robert W. Baird boosted their price objective on Crown from $90.00 to $100.00 and gave the company an "outperform" rating in a research report on Wednesday. Four analysts have rated the stock with a hold rating and ten have given a buy rating to the company's stock. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $99.29.

Insider Activity

In other news, CEO Timothy J. Donahue sold 22,500 shares of the company's stock in a transaction that occurred on 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 transaction, the chief executive officer now owns 616,178 shares of the company's stock, valued at $52,486,042.04. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Insiders own 0.90% of the company's stock.

Crown Trading Up 0.1 %

NYSE CCK traded up $0.08 during trading hours on Friday, hitting $82.45. 841,694 shares of the company were exchanged, compared to its average volume of 1,283,167. The stock has a 50-day moving average price of $78.16 and a 200 day moving average price of $82.63. The company has a quick ratio of 0.77, a current ratio of 1.19 and a debt-to-equity ratio of 2.26. Crown Holdings, Inc. has a 52 week low of $69.61 and a 52 week high of $96.35. The stock has a market cap of $9.96 billion, a PE ratio of 23.76, a price-to-earnings-growth ratio of 2.78 and a beta of 0.88.

Crown (NYSE:CCK - Get Free Report) last issued its quarterly earnings data on Monday, April 29th. The industrial products company reported $1.02 earnings per share for the quarter, topping the consensus estimate of $0.96 by $0.06. Crown had a return on equity of 23.95% and a net margin of 3.51%. The company had revenue of $2.78 billion for the quarter, compared to analysts' expectations of $2.93 billion. During the same period in the previous year, the firm posted $1.20 earnings per share. The firm's revenue for the quarter was down 6.4% on a year-over-year basis. Analysts forecast that Crown Holdings, Inc. will post 5.92 earnings per share for the current fiscal year.

Crown Announces Dividend

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

About Crown

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.