Crown (NYSE:CCK) Price Target Raised to $104.00

Crown (NYSE:CCK) had its target price upped by Truist Financial from $103.00 to $104.00 in a report issued on Monday morning,Benzinga reports. Truist Financial currently has a hold rating on the industrial products company’s stock.

CCK has been the subject of a number of other research reports. Citigroup upped their target price on shares of Crown from $100.00 to $110.00 and gave the stock a “buy” rating in a research report on Wednesday, October 2nd. StockNews.com upgraded Crown from a “hold” rating to a “buy” rating in a research report on Thursday, January 2nd. Robert W. Baird boosted their target price on Crown from $100.00 to $110.00 and gave the company an “outperform” rating in a research report on Monday, October 21st. Morgan Stanley upped their price target on shares of Crown from $105.00 to $109.00 and gave the stock an “equal weight” rating in a report on Monday, October 21st. Finally, Royal Bank of Canada upped their target price on Crown from $105.00 to $113.00 and gave the stock an “outperform” rating in a report on Wednesday, October 23rd. Three equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $105.38.

Crown Stock Down 0.6 %

CCK opened at $80.02 on Monday. The company has a current ratio of 1.21, a quick ratio of 0.84 and a debt-to-equity ratio of 2.19. The company has a market capitalization of $9.57 billion, a PE ratio of 98.79, a PEG ratio of 1.95 and a beta of 0.86. Crown has a 1-year low of $69.61 and a 1-year high of $98.46. The firm’s 50 day simple moving average is $88.83 and its two-hundred day simple moving average is $87.77.

Crown (NYSE:CCK) last released its earnings results on Thursday, October 17th. The industrial products company reported $1.99 earnings per share (EPS) 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 analyst estimates of $3.07 billion. Crown had a net margin of 0.83% and a return on equity of 24.57%. As a group, equities analysts forecast that Crown will post 6.34 EPS for the current year.

Crown Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, November 27th. Shareholders of record on Thursday, November 14th were given a dividend of $0.25 per share. The ex-dividend date of this dividend was Thursday, November 14th. This represents a $1.00 dividend on an annualized basis and a yield of 1.25%. Crown’s dividend payout ratio is currently 123.46%.

Insider Activity at Crown

In other news, CEO Timothy J. Donahue sold 7,500 shares of the stock in a transaction dated Wednesday, November 6th. The shares were sold at an average price of $96.73, for a total transaction of $725,475.00. Following the sale, the chief executive officer now directly owns 563,678 shares of the company’s stock, valued at $54,524,572.94. This represents a 1.31 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, COO Gerard H. Gifford sold 10,000 shares of Crown stock in a transaction on Wednesday, October 23rd. The shares were sold at an average price of $95.89, for a total transaction of $958,900.00. Following the completion of the sale, the chief operating officer now directly owns 114,402 shares in the company, valued at $10,970,007.78. This represents a 8.04 % decrease in their position. The disclosure for this sale can be found here. 0.90% of the stock is owned by insiders.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the stock. GAMMA Investing LLC increased its stake in Crown by 110.9% during the 3rd quarter. GAMMA Investing LLC now owns 310 shares of the industrial products company’s stock worth $30,000 after buying an additional 163 shares in the last quarter. Covestor Ltd increased its position in shares of Crown by 156.5% during the third quarter. Covestor Ltd now owns 454 shares of the industrial products company’s stock worth $44,000 after purchasing an additional 277 shares in the last quarter. Brooklyn Investment Group purchased a new stake in shares of Crown during the third quarter worth $44,000. Catalyst Capital Advisors LLC acquired a new stake in shares of Crown in the third quarter valued at about $48,000. Finally, Mirae Asset Global Investments Co. Ltd. purchased a new stake in Crown during the 3rd quarter valued at about $55,000. Institutional investors and hedge funds own 90.93% of the company’s stock.

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.