Crown Holdings, Inc. (NYSE:CCK) Receives $106.62 Consensus PT from Analysts

Crown Holdings, Inc. (NYSE:CCK) has been assigned an average recommendation of “Moderate Buy” from the thirteen research firms that are currently covering the company, Marketbeat Ratings reports. Three equities research analysts have rated the stock with a hold recommendation and ten have assigned a buy recommendation to the company. The average 12-month target price among analysts that have updated their coverage on the stock in the last year is $106.62.

Several equities research analysts have recently issued reports on the company. Barclays lifted their target price on Crown from $100.00 to $112.00 and gave the stock an “overweight” rating in a report on Monday, October 21st. Robert W. Baird lifted their price objective on Crown from $100.00 to $110.00 and gave the stock an “outperform” rating in a research note on Monday, October 21st. Citigroup increased their target price on Crown from $100.00 to $110.00 and gave the company a “buy” rating in a research report on Wednesday, October 2nd. StockNews.com cut shares of Crown from a “buy” rating to a “hold” rating in a research report on Wednesday. Finally, Truist Financial upped their price target on shares of Crown from $95.00 to $103.00 and gave the company a “hold” rating in a research note on Tuesday, October 15th.

Insider Buying and Selling

In related news, CEO Timothy J. Donahue sold 7,500 shares of the company’s stock in a transaction that occurred on Monday, October 7th. The stock was sold at an average price of $93.00, for a total value of $697,500.00. Following the transaction, the chief executive officer now directly owns 571,178 shares in the company, valued at approximately $53,119,554. This represents a 1.30 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, COO Gerard H. Gifford sold 10,000 shares of the company’s stock in a transaction on Wednesday, October 23rd. The shares were sold at an average price of $95.89, for a total value of $958,900.00. Following the completion of the transaction, the chief operating officer now directly owns 114,402 shares in the company, valued at approximately $10,970,007.78. This trade represents a 8.04 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 25,000 shares of company stock worth $2,381,875. 0.90% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the company. Bank of New York Mellon Corp raised its position in shares of Crown by 4.0% during the 2nd quarter. Bank of New York Mellon Corp now owns 1,208,711 shares of the industrial products company’s stock worth $89,916,000 after acquiring an additional 46,871 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank lifted its position in shares of Crown by 8.8% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 82,618 shares of the industrial products company’s stock worth $6,146,000 after buying an additional 6,654 shares during the last quarter. Crossmark Global Holdings Inc. boosted its holdings in shares of Crown by 6.8% in the 2nd quarter. Crossmark Global Holdings Inc. now owns 9,193 shares of the industrial products company’s stock valued at $684,000 after buying an additional 586 shares in the last quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. grew its position in shares of Crown by 87.9% in the 2nd quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 112,585 shares of the industrial products company’s stock valued at $8,375,000 after buying an additional 52,676 shares during the last quarter. Finally, iA Global Asset Management Inc. acquired a new stake in Crown during the 2nd quarter worth $147,000. 90.93% of the stock is currently owned by hedge funds and other institutional investors.

Crown Trading Up 0.0 %

Shares of NYSE:CCK opened at $83.19 on Thursday. The stock has a 50 day moving average of $90.50 and a 200 day moving average of $87.50. The company has a market cap of $9.95 billion, a PE ratio of 102.70, a price-to-earnings-growth ratio of 1.95 and a beta of 0.83. Crown has a 12-month low of $69.61 and a 12-month high of $98.46. The company has a current ratio of 1.21, a quick ratio of 0.84 and a debt-to-equity ratio of 2.19.

Crown (NYSE:CCK) last issued its earnings results on Thursday, October 17th. The industrial products company reported $1.99 earnings per share for the quarter, topping the consensus estimate of $1.81 by $0.18. The company had revenue of $3.07 billion during the quarter, compared to the consensus estimate of $3.07 billion. Crown had a net margin of 0.83% and a return on equity of 24.57%. As a group, equities research analysts expect that Crown will post 6.34 EPS for the current year.

Crown Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, November 27th. Shareholders of record on Thursday, November 14th were issued a dividend of $0.25 per share. The ex-dividend date was Thursday, November 14th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.20%. Crown’s payout ratio is currently 123.46%.

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.