New York Life Investment Management LLC Has $1.25 Million Stock Holdings in Crown Holdings, Inc. (NYSE:CCK)

New York Life Investment Management LLC grew its holdings in Crown Holdings, Inc. (NYSE:CCK) by 2.9% in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 13,593 shares of the industrial products company’s stock after buying an additional 380 shares during the quarter. New York Life Investment Management LLC’s holdings in Crown were worth $1,252,000 as of its most recent filing with the SEC.

A number of other hedge funds also recently made changes to their positions in the business. Commonwealth Equity Services LLC increased its position in shares of Crown by 2.7% during the 3rd quarter. Commonwealth Equity Services LLC now owns 6,903 shares of the industrial products company’s stock worth $611,000 after purchasing an additional 183 shares in the last quarter. Raymond James Financial Services Advisors Inc. increased its position in shares of Crown by 61.0% during the 3rd quarter. Raymond James Financial Services Advisors Inc. now owns 6,966 shares of the industrial products company’s stock worth $616,000 after purchasing an additional 2,638 shares in the last quarter. Bank of New York Mellon Corp increased its position in shares of Crown by 1.0% during the 3rd quarter. Bank of New York Mellon Corp now owns 1,222,802 shares of the industrial products company’s stock worth $108,194,000 after purchasing an additional 12,577 shares in the last quarter. Verdence Capital Advisors LLC increased its position in shares of Crown by 4.7% during the 3rd quarter. Verdence Capital Advisors LLC now owns 7,100 shares of the industrial products company’s stock worth $628,000 after purchasing an additional 320 shares in the last quarter. Finally, BluePath Capital Management LLC acquired a new stake in shares of Crown during the 3rd quarter worth about $25,000. Institutional investors and hedge funds own 90.93% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on CCK shares. Loop Capital increased their target price on shares of Crown from $101.00 to $106.00 and gave the stock a “buy” rating in a research report on Wednesday, May 1st. Truist Financial restated a “hold” rating and issued a $88.00 price objective (down previously from $100.00) on shares of Crown in a research report on Wednesday, March 27th. Morgan Stanley began coverage on shares of Crown in a research report on Monday, March 18th. They issued an “equal weight” rating and a $87.00 price objective for the company. JPMorgan Chase & Co. raised their price objective on shares of Crown from $85.00 to $90.00 and gave the company an “overweight” rating in a research report on Wednesday, May 1st. Finally, Robert W. Baird raised their price objective on shares of Crown from $90.00 to $100.00 and gave the company an “outperform” rating in a research report on Wednesday, May 1st. Four investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $99.29.

Insider Activity

In related news, CEO Timothy J. Donahue sold 22,500 shares of the business’s stock in a transaction on Tuesday, April 30th. The shares were 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 directly owns 616,178 shares in the company, valued at $52,486,042.04. The sale was disclosed in a filing with the SEC, which is available through this link. 0.90% of the stock is owned by corporate insiders.

Crown Stock Performance

Shares of CCK stock opened at $83.84 on Wednesday. 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 company has a market capitalization of $10.13 billion, a P/E ratio of 24.16, a price-to-earnings-growth ratio of 2.77 and a beta of 0.88. The company’s 50 day moving average price is $78.43 and its two-hundred day moving average price is $82.70. Crown Holdings, Inc. has a 52 week low of $69.61 and a 52 week high of $96.35.

Crown (NYSE:CCK) last posted its quarterly earnings data on Monday, April 29th. The industrial products company reported $1.02 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.96 by $0.06. Crown had a net margin of 3.51% and a return on equity of 23.95%. The company had revenue of $2.78 billion for the quarter, compared to the consensus estimate of $2.93 billion. During the same period last year, the company earned $1.20 earnings per share. The firm’s revenue was down 6.4% compared to the same quarter last year. On average, analysts expect that Crown Holdings, Inc. will post 5.94 earnings per share for the current fiscal year.

Crown Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, June 27th. Stockholders of record on Thursday, June 13th will be issued a $0.25 dividend. 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 1.19%. Crown’s dividend payout ratio (DPR) is presently 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.