Retirement Systems of Alabama Trims Stock Holdings in Crown Holdings, Inc. (NYSE:CCK)

Retirement Systems of Alabama reduced its holdings in shares of Crown Holdings, Inc. (NYSE:CCK) by 0.8% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 143,707 shares of the industrial products company’s stock after selling 1,087 shares during the quarter. Retirement Systems of Alabama owned about 0.12% of Crown worth $11,883,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently bought and sold shares of the business. Tidal Investments LLC boosted its holdings in shares of Crown by 121.3% in the third quarter. Tidal Investments LLC now owns 21,997 shares of the industrial products company’s stock worth $2,109,000 after acquiring an additional 12,058 shares during the period. Sumitomo Mitsui Trust Group Inc. lifted its holdings in Crown by 4.3% during the 3rd quarter. Sumitomo Mitsui Trust Group Inc. now owns 249,041 shares of the industrial products company’s stock worth $23,878,000 after purchasing an additional 10,295 shares in the last quarter. Jensen Investment Management Inc. boosted its stake in Crown by 7.8% in the 3rd quarter. Jensen Investment Management Inc. now owns 100,918 shares of the industrial products company’s stock worth $9,676,000 after purchasing an additional 7,280 shares during the period. Nordea Investment Management AB grew its holdings in Crown by 19.3% during the 4th quarter. Nordea Investment Management AB now owns 1,095,382 shares of the industrial products company’s stock valued at $90,511,000 after buying an additional 176,959 shares in the last quarter. Finally, Victory Capital Management Inc. increased its position in shares of Crown by 7.8% during the third quarter. Victory Capital Management Inc. now owns 5,676,902 shares of the industrial products company’s stock valued at $544,301,000 after buying an additional 412,973 shares during the period. 90.93% of the stock is owned by institutional investors.

Analysts Set New Price Targets

CCK has been the topic of a number of analyst reports. Barclays upped their target price on shares of Crown from $100.00 to $112.00 and gave the stock an “overweight” rating in a report on Monday, October 21st. Mizuho lowered their price objective on Crown from $110.00 to $100.00 and set an “outperform” rating on the stock in a research report on Tuesday, January 7th. Citigroup boosted their target price on Crown from $110.00 to $111.00 and gave the stock a “buy” rating in a research report on Monday, January 6th. Royal Bank of Canada raised their price target on Crown from $113.00 to $115.00 and gave the company an “outperform” rating in a report on Friday. Finally, Wells Fargo & Company boosted their price objective on Crown from $86.00 to $90.00 and gave the stock an “equal weight” rating in a report on Friday. Two investment analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $105.92.

Crown Price Performance

Shares of Crown stock opened at $87.01 on Friday. The company has a debt-to-equity ratio of 2.19, a quick ratio of 0.84 and a current ratio of 1.21. Crown Holdings, Inc. has a 52-week low of $70.84 and a 52-week high of $98.46. The company has a fifty day moving average of $85.55 and a 200-day moving average of $89.21. The stock has a market capitalization of $10.41 billion, a price-to-earnings ratio of 107.42, a price-to-earnings-growth ratio of 1.70 and a beta of 0.87.

Crown (NYSE:CCK) last announced its quarterly earnings data on Wednesday, February 5th. The industrial products company reported $1.59 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.51 by $0.08. Crown had a return on equity of 24.57% and a net margin of 0.83%. Equities research analysts expect that Crown Holdings, Inc. will post 6.35 EPS for the current year.

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.