Crown Holdings, Inc. (NYSE:CCK) Holdings Cut by New York State Common Retirement Fund

New York State Common Retirement Fund lowered its holdings in Crown Holdings, Inc. (NYSE:CCK) by 0.8% during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 459,600 shares of the industrial products company’s stock after selling 3,900 shares during the period. New York State Common Retirement Fund owned about 0.34% of Crown worth $33,339,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of CCK. Principal Financial Group Inc. grew its position in Crown by 3.3% during the 4th quarter. Principal Financial Group Inc. now owns 21,727 shares of the industrial products company’s stock worth $1,576,000 after purchasing an additional 687 shares in the last quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. grew its position in Crown by 20.7% during the 4th quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 22,391 shares of the industrial products company’s stock worth $1,618,000 after purchasing an additional 3,847 shares in the last quarter. Aigen Investment Management LP purchased a new position in Crown during the 4th quarter worth approximately $551,000. US Bancorp DE grew its position in Crown by 11.1% during the 4th quarter. US Bancorp DE now owns 4,690 shares of the industrial products company’s stock worth $341,000 after purchasing an additional 469 shares in the last quarter. Finally, First Trust Advisors LP grew its position in Crown by 93.7% during the 4th quarter. First Trust Advisors LP now owns 168,435 shares of the industrial products company’s stock worth $12,218,000 after purchasing an additional 81,463 shares in the last quarter. 93.25% of the stock is currently owned by hedge funds and other institutional investors.

Shares of NYSE:CCK opened at $80.00 on Friday. The firm has a fifty day moving average of $74.46 and a two-hundred day moving average of $70.13. The firm has a market capitalization of $10.84 billion, a P/E ratio of 21.11, a price-to-earnings-growth ratio of 2.08 and a beta of 1.48. Crown Holdings, Inc. has a 12-month low of $53.07 and a 12-month high of $80.57. The company has a quick ratio of 0.64, a current ratio of 1.12 and a debt-to-equity ratio of 4.06.

Crown (NYSE:CCK) last issued its earnings results on Tuesday, February 4th. The industrial products company reported $1.04 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.95 by $0.09. Crown had a net margin of 4.37% and a return on equity of 39.58%. The company had revenue of $2.79 billion during the quarter, compared to analyst estimates of $2.72 billion. During the same quarter last year, the business posted $1.00 EPS. The company’s revenue for the quarter was up 2.1% on a year-over-year basis. Equities research analysts expect that Crown Holdings, Inc. will post 5.48 earnings per share for the current fiscal year.

In related news, VP David A. Beaver sold 1,200 shares of Crown stock in a transaction on Monday, December 2nd. The shares were sold at an average price of $75.68, for a total value of $90,816.00. 1.90% of the stock is currently owned by insiders.

Several research firms have weighed in on CCK. Barclays lifted their price objective on shares of Crown from $88.00 to $91.00 and gave the stock an “overweight” rating in a research report on Thursday, February 6th. BMO Capital Markets lifted their price objective on shares of Crown from $72.00 to $85.00 and gave the stock an “outperform” rating in a research report on Wednesday, November 6th. Wells Fargo & Co lifted their price objective on shares of Crown from $75.00 to $85.00 and gave the stock an “outperform” rating in a research report on Wednesday, November 6th. Royal Bank of Canada lifted their price objective on shares of Crown from $79.00 to $83.00 and gave the stock an “outperform” rating in a research report on Monday, October 21st. Finally, Deutsche Bank lifted their price objective on shares of Crown from $65.00 to $75.00 and gave the stock a “buy” rating in a research report on Friday, October 18th. They noted that the move was a valuation call. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and eight have issued a buy rating to the stock. The stock currently has a consensus rating of “Buy” and an average target price of $81.20.

About Crown

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, beverage, household, and other consumer products; glass bottles for beverage product; and metal vacuum closures and steel crowns through its sales organization to the soft drink, food, citrus, brewing, household products, personal care, and various other industries.

Further Reading: What economic reports are most valuable to investors?

Want to see what other hedge funds are holding CCK? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Crown Holdings, Inc. (NYSE:CCK).

Institutional Ownership by Quarter for Crown (NYSE:CCK)

Receive News & Ratings for Crown Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Crown and related companies with MarketBeat.com's FREE daily email newsletter.