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

Shares of Crown Holdings, Inc. (NYSE:CCK) have received a consensus recommendation of “Moderate Buy” from the thirteen research firms that are currently covering the company, MarketBeat reports. Three equities research analysts have rated the stock with a hold rating and ten have issued a buy rating on the company. The average 1 year target price among analysts that have updated their coverage on the stock in the last year is $106.62.

A number of analysts have recently commented on CCK shares. Royal Bank of Canada lifted their price target on Crown from $105.00 to $113.00 and gave the company an “outperform” rating in a research note on Wednesday, October 23rd. Loop Capital lifted their target price on shares of Crown from $120.00 to $129.00 and gave the stock a “buy” 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 company an “equal weight” rating in a research report on Monday, October 21st. Mizuho set a $110.00 price target on shares of Crown in a report on Friday, October 18th. Finally, Wells Fargo & Company increased their price objective on Crown from $97.00 to $105.00 and gave the company an “equal weight” rating in a report on Monday, October 21st.

Crown Price Performance

CCK stock opened at $88.38 on Friday. The stock has a market cap of $10.57 billion, a price-to-earnings ratio of 109.11, a P/E/G ratio of 2.04 and a beta of 0.83. The company has a debt-to-equity ratio of 2.19, a current ratio of 1.21 and a quick ratio of 0.84. The company has a 50 day simple moving average of $93.11 and a 200 day simple moving average of $87.32. Crown has a 1 year low of $69.61 and a 1 year high of $98.46.

Crown (NYSE:CCK) last announced its quarterly 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. Crown had a net margin of 0.83% and a return on equity of 24.57%. The company had revenue of $3.07 billion during the quarter, compared to the consensus estimate of $3.07 billion. Research analysts anticipate that Crown will post 6.34 EPS for the current fiscal year.

Crown Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, November 27th. Shareholders of record on Thursday, November 14th were paid a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 1.13%. The ex-dividend date of this dividend was Thursday, November 14th. Crown’s dividend payout ratio (DPR) is presently 123.46%.

Insider Transactions at Crown

In other Crown news, CEO Timothy J. Donahue sold 7,500 shares of the 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 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director James H. Miller sold 1,006 shares of the firm’s stock in a transaction that occurred on Monday, September 23rd. The shares were sold at an average price of $95.60, for a total value of $96,173.60. Following the completion of the sale, the director now directly owns 12,424 shares of the company’s stock, valued at $1,187,734.40. This trade represents a 7.49 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 26,006 shares of company stock valued at $2,478,049 in the last quarter. 0.90% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Crown

A number of large investors have recently modified their holdings of CCK. Franklin Resources Inc. increased its stake in Crown by 3.6% during the 3rd quarter. Franklin Resources Inc. now owns 941,033 shares of the industrial products company’s stock valued at $87,949,000 after purchasing an additional 32,909 shares in the last quarter. Tidal Investments LLC grew its holdings in shares of Crown by 121.3% during the third quarter. Tidal Investments LLC now owns 21,997 shares of the industrial products company’s stock valued at $2,109,000 after buying an additional 12,058 shares during the last quarter. Wilmington Savings Fund Society FSB increased its position in shares of Crown by 48.3% during the third quarter. Wilmington Savings Fund Society FSB now owns 16,575 shares of the industrial products company’s stock worth $1,589,000 after acquiring an additional 5,397 shares in the last quarter. Sanctuary Advisors LLC raised its holdings in shares of Crown by 57.5% in the 3rd quarter. Sanctuary Advisors LLC now owns 8,936 shares of the industrial products company’s stock worth $829,000 after acquiring an additional 3,264 shares during the last quarter. Finally, Virtu Financial LLC bought a new position in Crown in the 3rd quarter valued at about $861,000. 90.93% of the stock is currently owned by institutional investors.

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.