Crown Holdings, Inc. (NYSE:CCK) Receives Consensus Recommendation of “Moderate Buy” from Analysts

Crown Holdings, Inc. (NYSE:CCK) has earned an average recommendation of “Moderate Buy” from the fourteen brokerages that are presently covering the stock, Marketbeat Ratings reports. Three research analysts have rated the stock with a hold recommendation and eleven have issued a buy recommendation on the company. The average 1-year price objective among brokers that have covered the stock in the last year is $101.86.

Several brokerages have recently issued reports on CCK. Loop Capital increased their price target on shares of Crown from $106.00 to $120.00 and gave the stock a “buy” rating in a research report on Wednesday, July 24th. Wells Fargo & Company increased their price target on shares of Crown from $85.00 to $88.00 and gave the stock an “equal weight” rating in a research report on Wednesday, July 24th. Morgan Stanley increased their price target on shares of Crown from $92.00 to $105.00 and gave the stock an “equal weight” rating in a research report on Wednesday, September 4th. Royal Bank of Canada reissued an “outperform” rating and set a $105.00 price target on shares of Crown in a research report on Tuesday, September 24th. Finally, Citigroup raised their target price on shares of Crown from $100.00 to $110.00 and gave the company a “buy” rating in a report on Wednesday, October 2nd.

Insider Buying and Selling at Crown

In other Crown news, CEO Timothy J. Donahue sold 15,000 shares of the stock in a transaction that occurred on Tuesday, July 23rd. The shares were sold at an average price of $85.03, for a total value of $1,275,450.00. Following the transaction, the chief executive officer now directly owns 593,678 shares in the company, valued at $50,480,440.34. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. In other news, CEO Timothy J. Donahue sold 15,000 shares of the firm’s stock in a transaction that occurred on Tuesday, July 23rd. The shares were sold at an average price of $85.03, for a total transaction of $1,275,450.00. Following the transaction, the chief executive officer now directly owns 593,678 shares in the company, valued at approximately $50,480,440.34. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Timothy J. Donahue sold 7,500 shares of the firm’s stock in a transaction that occurred on Wednesday, August 7th. The stock was sold at an average price of $85.85, for a total transaction of $643,875.00. Following the transaction, the chief executive officer now owns 586,178 shares in the company, valued at approximately $50,323,381.30. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 38,506 shares of company stock worth $3,392,349 over the last three months. Insiders own 0.90% of the company’s stock.

Hedge Funds Weigh In On Crown

Hedge funds have recently modified their holdings of the business. Quarry LP grew its position in Crown by 190.3% in the 4th quarter. Quarry LP now owns 421 shares of the industrial products company’s stock valued at $39,000 after buying an additional 276 shares during the last quarter. Beacon Financial Group purchased a new position in Crown in the 4th quarter valued at $388,000. Wellington Management Group LLP grew its position in Crown by 37.5% in the 4th quarter. Wellington Management Group LLP now owns 693,795 shares of the industrial products company’s stock valued at $63,892,000 after buying an additional 189,075 shares during the last quarter. Vanguard Group Inc. grew its position in Crown by 1.5% in the 4th quarter. Vanguard Group Inc. now owns 11,825,703 shares of the industrial products company’s stock valued at $1,089,029,000 after buying an additional 173,460 shares during the last quarter. Finally, PNC Financial Services Group Inc. grew its position in Crown by 3.3% in the 4th quarter. PNC Financial Services Group Inc. now owns 33,344 shares of the industrial products company’s stock valued at $3,071,000 after buying an additional 1,052 shares during the last quarter. 90.93% of the stock is currently owned by hedge funds and other institutional investors.

Crown Trading Up 1.3 %

NYSE CCK opened at $92.79 on Friday. The firm’s 50-day moving average is $90.76 and its two-hundred day moving average is $83.81. Crown has a 12 month low of $69.61 and a 12 month high of $96.74. The company has a debt-to-equity ratio of 2.00, a current ratio of 1.05 and a quick ratio of 0.73. The stock has a market capitalization of $11.19 billion, a P/E ratio of 25.70, a PEG ratio of 2.19 and a beta of 0.86.

Crown (NYSE:CCK) last posted its earnings results on Monday, July 22nd. The industrial products company reported $1.81 EPS for the quarter, beating analysts’ consensus estimates of $1.59 by $0.22. The company had revenue of $3.04 billion for the quarter, compared to analysts’ expectations of $3.06 billion. Crown had a net margin of 3.68% and a return on equity of 23.96%. Crown’s revenue for the quarter was down 2.2% compared to the same quarter last year. During the same quarter in the prior year, the company posted $1.68 earnings per share. On average, sell-side analysts anticipate that Crown will post 6.15 earnings per share for the current year.

Crown Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, August 29th. Shareholders of record on Thursday, August 15th were paid a $0.25 dividend. The ex-dividend date of this dividend was Thursday, August 15th. This represents a $1.00 annualized dividend and a yield of 1.08%. Crown’s dividend payout ratio is currently 27.70%.

Crown Company 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.