New York Life Investment Management LLC Buys 6,736 Shares of Crown Holdings, Inc. (NYSE:CCK)

New York Life Investment Management LLC boosted its position in Crown Holdings, Inc. (NYSE:CCKFree Report) by 104.0% in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 13,213 shares of the industrial products company’s stock after buying an additional 6,736 shares during the period. New York Life Investment Management LLC’s holdings in Crown were worth $1,169,000 at the end of the most recent quarter.

A number of other institutional investors have also added to or reduced their stakes in CCK. BluePath Capital Management LLC acquired a new position in shares of Crown during the third quarter worth approximately $25,000. Tobam acquired a new position in Crown during the second quarter worth $58,000. Fifth Third Bancorp grew its holdings in shares of Crown by 91.9% during the second quarter. Fifth Third Bancorp now owns 691 shares of the industrial products company’s stock valued at $60,000 after buying an additional 331 shares during the last quarter. Quarry LP acquired a new position in shares of Crown during the first quarter valued at about $58,000. Finally, UniSuper Management Pty Ltd bought a new stake in shares of Crown during the second quarter worth about $78,000. 95.18% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In related news, CEO Timothy J. Donahue sold 7,500 shares of the business’s stock in a transaction dated Friday, December 8th. The stock was sold at an average price of $88.49, for a total value of $663,675.00. Following the sale, the chief executive officer now directly owns 579,743 shares in the company, valued at approximately $51,301,458.07. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 0.90% of the company’s stock.

Crown Stock Performance

NYSE CCK opened at $76.67 on Wednesday. The company has a market capitalization of $9.25 billion, a PE ratio of 18.13, a price-to-earnings-growth ratio of 2.68 and a beta of 0.96. The company has a debt-to-equity ratio of 2.21, a quick ratio of 0.70 and a current ratio of 1.13. Crown Holdings, Inc. has a 52-week low of $69.61 and a 52-week high of $96.35. The company has a 50-day simple moving average of $90.00 and a 200 day simple moving average of $87.69.

Crown (NYSE:CCKGet Free Report) last issued its quarterly earnings results on Monday, February 5th. The industrial products company reported $1.24 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.43 by ($0.19). Crown had a return on equity of 26.84% and a net margin of 4.17%. The company had revenue of $2.86 billion for the quarter, compared to analysts’ expectations of $2.96 billion. During the same quarter in the previous year, the business earned $1.17 EPS. The company’s revenue for the quarter was down 5.1% on a year-over-year basis. On average, research analysts predict that Crown Holdings, Inc. will post 6.03 EPS for the current year.

Analyst Upgrades and Downgrades

CCK has been the topic of several recent research reports. TheStreet downgraded Crown from a “b-” rating to a “c+” rating in a research note on Wednesday, November 1st. Royal Bank of Canada decreased their price target on Crown from $115.00 to $110.00 and set an “outperform” rating for the company in a report on Thursday, October 26th. Barclays lowered their price target on Crown from $110.00 to $100.00 and set an “overweight” rating for the company in a research report on Thursday, October 26th. Citigroup lifted their price objective on shares of Crown from $103.00 to $105.00 and gave the stock a “buy” rating in a report on Wednesday, October 25th. Finally, Wells Fargo & Company lowered their target price on shares of Crown from $86.00 to $74.00 and set an “equal weight” rating for the company in a report on Thursday, October 19th. Four analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $104.00.

Read Our Latest Analysis on Crown

Crown Profile

(Free Report)

Crown Holdings, Inc, together with its subsidiaries, supplies rigid packaging products in Pennsylvania and internationally. It operates through Americas Beverage, European Beverage, Asia Pacific, and Transit Packaging segments. The Americas Beverage segment manufactures recyclable aluminum beverage cans and ends, glass bottles, steel crowns, and aluminum caps.

Recommended Stories

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:CCKFree Report).

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.