Crown (NYSE:CCK) PT Raised to $113.00

Crown (NYSE:CCK) had its target price increased by Royal Bank of Canada from $105.00 to $113.00 in a report published on Wednesday, Benzinga reports. Royal Bank of Canada currently has an outperform rating on the industrial products company’s stock.

A number of other equities analysts also recently weighed in on CCK. Bank of America increased their price target on shares of Crown from $98.00 to $102.00 and gave the stock a “buy” rating in a research note on Wednesday, July 24th. Wells Fargo & Company lifted their target price on Crown from $97.00 to $105.00 and gave the company an “equal weight” rating in a report on Monday, October 21st. Citigroup upped their price target on Crown from $100.00 to $110.00 and gave the stock a “buy” rating in a research note on Wednesday, October 2nd. UBS Group reduced their price objective on Crown from $112.00 to $91.00 and set a “buy” rating on the stock in a research note on Wednesday, July 17th. Finally, StockNews.com raised shares of Crown from a “hold” rating to a “buy” rating in a research report on Tuesday, October 15th. Three investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $106.62.

Crown Trading Down 1.6 %

Shares of CCK stock opened at $93.68 on Wednesday. The firm’s 50-day simple moving average is $92.52 and its 200-day simple moving average is $84.99. The company has a debt-to-equity ratio of 2.00, a current ratio of 1.05 and a quick ratio of 0.73. Crown has a 1-year low of $69.61 and a 1-year high of $98.46. The firm has a market cap of $11.31 billion, a P/E ratio of 27.00, a PEG ratio of 2.19 and a beta of 0.86.

Crown Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, November 27th. Investors of record on Thursday, November 14th will be paid a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 1.07%. The ex-dividend date is Thursday, November 14th. Crown’s dividend payout ratio (DPR) is 28.82%.

Insiders Place Their Bets

In other news, CEO Timothy J. Donahue sold 7,500 shares of the firm’s stock in a transaction dated Friday, September 6th. The stock was sold at an average price of $90.58, for a total transaction of $679,350.00. Following the completion of the sale, the chief executive officer now directly owns 578,678 shares in the company, valued at $52,416,653.24. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, COO Gerard H. Gifford sold 10,000 shares of the stock in a transaction that occurred on Wednesday, October 23rd. The stock was sold at an average price of $95.89, for a total transaction 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 represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CEO Timothy J. Donahue sold 7,500 shares of the firm’s stock in a transaction that occurred on Friday, September 6th. The stock was sold at an average price of $90.58, for a total transaction of $679,350.00. Following the sale, the chief executive officer now directly owns 578,678 shares of the company’s stock, valued at $52,416,653.24. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 33,506 shares of company stock worth $3,075,799 in the last quarter. 0.90% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the stock. Trivant Custom Portfolio Group LLC bought a new position in shares of Crown during the first quarter worth about $43,000. State of Michigan Retirement System increased its holdings in shares of Crown by 1.7% in the 1st quarter. State of Michigan Retirement System now owns 29,400 shares of the industrial products company’s stock valued at $2,330,000 after acquiring an additional 500 shares during the last quarter. TFC Financial Management Inc. raised its position in shares of Crown by 50.5% during the 1st quarter. TFC Financial Management Inc. now owns 1,385 shares of the industrial products company’s stock valued at $110,000 after acquiring an additional 465 shares in the last quarter. BNP Paribas Financial Markets lifted its stake in Crown by 35.3% during the first quarter. BNP Paribas Financial Markets now owns 56,933 shares of the industrial products company’s stock worth $4,513,000 after purchasing an additional 14,843 shares during the last quarter. Finally, Capstone Investment Advisors LLC acquired a new position in Crown in the first quarter worth $500,000. 90.93% of the stock is currently owned by institutional investors.

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.