Crown Holdings, Inc. (NYSE:CCK) Shares Sold by State Board of Administration of Florida Retirement System

State Board of Administration of Florida Retirement System cut its position in Crown Holdings, Inc. (NYSE:CCKFree Report) by 7.5% during the third quarter, HoldingsChannel reports. The firm owned 113,403 shares of the industrial products company’s stock after selling 9,140 shares during the quarter. State Board of Administration of Florida Retirement System’s holdings in Crown were worth $10,034,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. Raymond James Financial Services Advisors Inc. increased its position in shares of Crown by 36.8% in the 2nd quarter. Raymond James Financial Services Advisors Inc. now owns 4,328 shares of the industrial products company’s stock valued at $376,000 after purchasing an additional 1,164 shares during the last quarter. First Republic Investment Management Inc. increased its position in shares of Crown by 15.3% in the 2nd quarter. First Republic Investment Management Inc. now owns 26,438 shares of the industrial products company’s stock valued at $2,297,000 after purchasing an additional 3,499 shares during the last quarter. SeaTown Holdings Pte. Ltd. increased its position in shares of Crown by 19.6% in the 3rd quarter. SeaTown Holdings Pte. Ltd. now owns 86,100 shares of the industrial products company’s stock valued at $7,618,000 after purchasing an additional 14,100 shares during the last quarter. DB Fitzpatrick & Co Inc increased its position in shares of Crown by 0.9% in the 3rd quarter. DB Fitzpatrick & Co Inc now owns 16,258 shares of the industrial products company’s stock valued at $1,439,000 after purchasing an additional 142 shares during the last quarter. Finally, abrdn plc increased its position in shares of Crown by 4.7% in the 2nd quarter. abrdn plc now owns 610,316 shares of the industrial products company’s stock valued at $53,018,000 after purchasing an additional 27,656 shares during the last quarter. 95.18% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Crown

In other Crown news, CEO Timothy J. Donahue sold 7,500 shares of the stock in a transaction on Friday, December 8th. The stock was sold at an average price of $88.49, for a total transaction of $663,675.00. Following the sale, the chief executive officer now owns 579,743 shares in the company, valued at approximately $51,301,458.07. The sale was disclosed in a legal filing with the SEC, which is available through this link. 0.90% of the stock is owned by insiders.

Analysts Set New Price Targets

A number of research analysts recently commented on the stock. Wells Fargo & Company dropped their target price on shares of Crown from $93.00 to $78.00 and set an “equal weight” rating on the stock in a research report on Wednesday, February 7th. Robert W. Baird reaffirmed a “neutral” rating and issued a $90.00 target price on shares of Crown in a research report on Tuesday, February 6th. Jefferies Financial Group dropped their target price on shares of Crown from $123.00 to $122.00 and set a “buy” rating on the stock in a research report on Wednesday, October 18th. Mizuho dropped their target price on shares of Crown from $105.00 to $96.00 and set a “buy” rating on the stock in a research report on Tuesday, February 6th. Finally, Truist Financial dropped their target price on shares of Crown from $117.00 to $100.00 and set a “buy” rating on the stock in a research report on Wednesday, February 7th. Three investment analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $101.17.

View Our Latest Report on CCK

Crown Stock Performance

CCK opened at $75.61 on Tuesday. The stock has a market cap of $9.12 billion, a P/E ratio of 20.11, a P/E/G ratio of 2.52 and a beta of 0.96. The company has a debt-to-equity ratio of 2.34, a current ratio of 1.15 and a quick ratio of 0.77. The stock’s 50 day simple moving average is $89.06 and its 200 day simple moving average is $87.16. Crown Holdings, Inc. has a 1-year low of $69.61 and a 1-year high of $96.35.

Crown (NYSE:CCKGet Free Report) last released its quarterly earnings results on Tuesday, February 6th. The industrial products company reported $1.24 earnings per share for the quarter, missing analysts’ consensus estimates of $1.43 by ($0.19). The firm had revenue of $2.86 billion during the quarter, compared to analyst estimates of $2.96 billion. Crown had a return on equity of 25.75% and a net margin of 3.75%. The business’s revenue was down 5.1% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.17 EPS. As a group, equities analysts anticipate that Crown Holdings, Inc. will post 5.93 EPS for the current fiscal year.

Crown Company 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.

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Institutional Ownership by Quarter for Crown (NYSE:CCK)

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