New York Life Investment Management LLC Invests $1.14 Million in Crown Holdings, Inc. (NYSE:CCK)

New York Life Investment Management LLC bought a new stake in Crown Holdings, Inc. (NYSE:CCK) during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm bought 13,764 shares of the industrial products company’s stock, valued at approximately $1,138,000.

Several other large investors have also recently added to or reduced their stakes in CCK. Covestor Ltd increased its position in Crown by 156.5% in the 3rd quarter. Covestor Ltd now owns 454 shares of the industrial products company’s stock valued at $44,000 after acquiring an additional 277 shares during the period. Brooklyn Investment Group acquired a new stake in Crown in the 3rd quarter valued at approximately $44,000. GAMMA Investing LLC increased its position in Crown by 84.2% in the 4th quarter. GAMMA Investing LLC now owns 571 shares of the industrial products company’s stock valued at $47,000 after acquiring an additional 261 shares during the period. Catalyst Capital Advisors LLC acquired a new stake in Crown in the 3rd quarter valued at approximately $48,000. Finally, Mirae Asset Global Investments Co. Ltd. acquired a new stake in Crown in the 3rd quarter valued at approximately $55,000. 90.93% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several analysts recently commented on the company. Bank of America lowered their target price on Crown from $107.00 to $101.00 and set a “buy” rating on the stock in a research report on Monday, January 6th. Royal Bank of Canada increased their price target on Crown from $113.00 to $115.00 and gave the company an “outperform” rating in a research note on Friday, February 7th. Barclays decreased their price target on Crown from $112.00 to $109.00 and set an “overweight” rating for the company in a research note on Monday, February 10th. Morgan Stanley raised Crown from an “equal weight” rating to an “overweight” rating and decreased their price target for the company from $109.00 to $105.00 in a research note on Monday, January 13th. Finally, StockNews.com raised Crown from a “hold” rating to a “buy” rating in a research note on Friday, February 7th. Two investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. According to MarketBeat.com, Crown has an average rating of “Moderate Buy” and a consensus price target of $106.00.

Crown Stock Performance

CCK opened at $88.21 on Tuesday. The firm has a market cap of $10.55 billion, a PE ratio of 24.78, a P/E/G ratio of 1.56 and a beta of 0.87. The company has a quick ratio of 0.80, a current ratio of 1.22 and a debt-to-equity ratio of 1.88. The business has a fifty day simple moving average of $85.65 and a 200-day simple moving average of $89.54. Crown Holdings, Inc. has a fifty-two week low of $70.84 and a fifty-two week high of $98.46.

Crown (NYSE:CCK) last released its quarterly earnings data on Wednesday, February 5th. The industrial products company reported $1.59 earnings per share for the quarter, topping the consensus estimate of $1.51 by $0.08. Crown had a return on equity of 25.12% and a net margin of 3.59%. As a group, equities analysts predict that Crown Holdings, Inc. will post 6.96 EPS for the current fiscal year.

Crown Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, April 1st. Stockholders of record on Tuesday, March 18th will be issued a $0.26 dividend. The ex-dividend date is Tuesday, March 18th. This represents a $1.04 dividend on an annualized basis and a dividend yield of 1.18%. This is a positive change from Crown’s previous quarterly dividend of $0.25. Crown’s dividend payout ratio is presently 29.21%.

Crown Profile

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.