Crown Holdings, Inc. (CCK) to Issue Quarterly Dividend of $0.25 on June 27th

Crown Holdings, Inc. (NYSE:CCKGet Free Report) declared a quarterly dividend on Thursday, May 2nd, RTT News reports. Shareholders of record on Thursday, June 13th will be given a dividend of 0.25 per share by the industrial products company on Thursday, June 27th. This represents a $1.00 annualized dividend and a yield of 1.21%. The ex-dividend date is Thursday, June 13th.

Crown has a dividend payout ratio of 14.7% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect Crown to earn $6.65 per share next year, which means the company should continue to be able to cover its $1.00 annual dividend with an expected future payout ratio of 15.0%.

Crown Stock Performance

Crown stock opened at $82.64 on Tuesday. The company has a market cap of $9.98 billion, a PE ratio of 23.82, a PEG ratio of 2.17 and a beta of 0.88. The company has a current ratio of 1.19, a quick ratio of 0.77 and a debt-to-equity ratio of 2.26. Crown has a 1 year low of $69.61 and a 1 year high of $96.35. The company’s 50-day moving average is $81.46 and its two-hundred day moving average is $83.08.

Crown (NYSE:CCKGet Free Report) last released its earnings results on Monday, April 29th. The industrial products company reported $1.02 EPS for the quarter, topping analysts’ consensus estimates of $0.96 by $0.06. The firm had revenue of $2.78 billion during the quarter, compared to analyst estimates of $2.93 billion. Crown had a net margin of 3.51% and a return on equity of 23.95%. The business’s quarterly revenue was down 6.4% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.20 EPS. Equities analysts anticipate that Crown will post 5.95 earnings per share for the current year.

Analyst Ratings Changes

Several equities research analysts have weighed in on CCK shares. Robert W. Baird increased their target price on shares of Crown from $90.00 to $100.00 and gave the stock an “outperform” rating in a report on Wednesday, May 1st. Morgan Stanley started coverage on Crown in a research note on Monday, March 18th. They set an “equal weight” rating and a $87.00 price objective on the stock. Loop Capital boosted their target price on Crown from $101.00 to $106.00 and gave the company a “buy” rating in a research note on Wednesday, May 1st. Wells Fargo & Company raised their price target on Crown from $76.00 to $84.00 and gave the stock an “equal weight” rating in a research report on Wednesday, May 1st. Finally, Wolfe Research assumed coverage on Crown in a research report on Friday, March 1st. They issued an “outperform” rating and a $102.00 price objective for the company. Four investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $99.29.

Check Out Our Latest Stock Analysis on CCK

Insider Transactions at Crown

In other Crown news, CEO Timothy J. Donahue sold 22,500 shares of the business’s stock in a transaction dated Tuesday, April 30th. The shares were sold at an average price of $85.18, for a total transaction of $1,916,550.00. Following the sale, the chief executive officer now directly owns 616,178 shares of the company’s stock, valued at approximately $52,486,042.04. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In other news, CEO Timothy J. Donahue sold 7,500 shares of the stock in a transaction that occurred on Wednesday, May 15th. The stock was sold at an average price of $85.00, for a total value of $637,500.00. Following the completion of the sale, the chief executive officer now owns 608,678 shares of the company’s stock, valued at approximately $51,737,630. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Timothy J. Donahue sold 22,500 shares of the business’s stock in a transaction on Tuesday, April 30th. The stock was sold at an average price of $85.18, for a total transaction of $1,916,550.00. Following the transaction, the chief executive officer now owns 616,178 shares in the company, valued at $52,486,042.04. The disclosure for this sale can be found here. Insiders sold 39,000 shares of company stock valued at $3,300,420 in the last ninety days. 0.90% of the stock is currently owned by corporate insiders.

About Crown

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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.

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Dividend History for Crown (NYSE:CCK)

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