New York State Teachers Retirement System Takes Position in Crown Holdings, Inc. (NYSE:CCK)

New York State Teachers Retirement System purchased a new stake in shares of Crown Holdings, Inc. (NYSE:CCK) during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 8,400 shares of the industrial products company’s stock, valued at approximately $547,000.

Several other hedge funds have also modified their holdings of the company. Assenagon Asset Management S.A. purchased a new position in shares of Crown during the second quarter valued at $4,012,000. Zeke Capital Advisors LLC grew its holdings in shares of Crown by 7.8% during the second quarter. Zeke Capital Advisors LLC now owns 7,826 shares of the industrial products company’s stock valued at $510,000 after buying an additional 568 shares in the last quarter. SeaTown Holdings Pte. Ltd. purchased a new position in shares of Crown during the second quarter valued at $2,149,000. Robeco Institutional Asset Management B.V. grew its holdings in shares of Crown by 0.7% during the second quarter. Robeco Institutional Asset Management B.V. now owns 27,330 shares of the industrial products company’s stock valued at $1,779,000 after buying an additional 184 shares in the last quarter. Finally, Kistler Tiffany Companies LLC grew its stake in Crown by 116.3% in the second quarter. Kistler Tiffany Companies LLC now owns 37,705 shares of the industrial products company’s stock valued at $2,456,000 after purchasing an additional 20,273 shares in the last quarter. Institutional investors and hedge funds own 89.43% of the company’s stock.

Shares of NYSE:CCK opened at $71.58 on Friday. Crown Holdings, Inc. has a fifty-two week low of $42.97 and a fifty-two week high of $80.57. The business has a 50-day moving average of $67.04 and a two-hundred day moving average of $66.52. The stock has a market capitalization of $9.65 billion, a P/E ratio of 19.94, a P/E/G ratio of 2.77 and a beta of 1.25. The company has a debt-to-equity ratio of 3.67, a current ratio of 1.15 and a quick ratio of 0.80.

Crown (NYSE:CCK) last posted its quarterly earnings data on Monday, July 20th. The industrial products company reported $1.33 earnings per share for the quarter, topping the consensus estimate of $1.31 by $0.02. Crown had a return on equity of 32.53% and a net margin of 4.28%. The business had revenue of $2.69 billion during the quarter, compared to analysts’ expectations of $2.76 billion. During the same quarter in the previous year, the firm earned $1.46 EPS. The firm’s revenue was down 11.4% compared to the same quarter last year. As a group, research analysts expect that Crown Holdings, Inc. will post 5.19 EPS for the current fiscal year.

A number of research analysts have commented on the company. Deutsche Bank boosted their target price on Crown from $76.00 to $80.00 and gave the company a “buy” rating in a research note on Wednesday, July 22nd. Barclays restated a “buy” rating on shares of Crown in a research note on Thursday, July 23rd. Citigroup boosted their target price on Crown from $78.00 to $82.00 and gave the company a “buy” rating in a research note on Wednesday, July 22nd. Zacks Investment Research downgraded Crown from a “hold” rating to a “sell” rating and set a $70.00 target price on the stock. in a research note on Friday, May 29th. Finally, Wells Fargo & Co boosted their target price on Crown from $75.00 to $80.00 and gave the company an “overweight” rating in a research note on Wednesday, July 22nd. Two research analysts have rated the stock with a sell rating, two have assigned a hold rating and ten have given a buy rating to the company. The company presently has a consensus rating of “Buy” and an average target price of $80.75.

Crown Profile

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.

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Institutional Ownership by Quarter for Crown (NYSE:CCK)

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