Crown (NYSE:CCK) Price Target Raised to $100.00

Crown (NYSE:CCK) had its price objective hoisted by Robert W. Baird from $90.00 to $100.00 in a report released on Wednesday morning, Benzinga reports. The brokerage currently has an outperform rating on the industrial products company’s stock.

Several other analysts also recently weighed in on the company. Truist Financial restated a hold rating and issued a $88.00 price target (down previously from $100.00) on shares of Crown in a research note on Wednesday, March 27th. Wells Fargo & Company decreased their target price on shares of Crown from $78.00 to $76.00 and set an equal weight rating for the company in a report on Thursday, April 11th. Royal Bank of Canada cut their price target on shares of Crown from $110.00 to $97.00 and set an outperform rating on the stock in a report on Thursday, February 8th. Wolfe Research began coverage on shares of Crown in a report on Friday, March 1st. They issued an outperform rating and a $102.00 price objective for the company. Finally, UBS Group initiated coverage on Crown in a research note on Tuesday, January 16th. They set a buy rating and a $112.00 target price on the stock. Four equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. According to MarketBeat.com, Crown presently has a consensus rating of Moderate Buy and an average price target of $99.29.

Crown Price Performance

Shares of NYSE CCK opened at $82.47 on Wednesday. The stock’s 50-day simple moving average is $78.16 and its two-hundred day simple moving average is $82.63. Crown has a twelve month low of $69.61 and a twelve month high of $96.35. The company has a quick ratio of 0.77, a current ratio of 1.19 and a debt-to-equity ratio of 2.26. The firm has a market capitalization of $9.96 billion, a P/E ratio of 23.77, a P/E/G ratio of 2.82 and a beta of 0.88.

Crown (NYSE:CCK) last announced its quarterly earnings data on Monday, April 29th. The industrial products company reported $1.02 earnings per share for the quarter, beating the consensus estimate of $0.96 by $0.06. Crown had a return on equity of 23.95% and a net margin of 3.51%. The firm had revenue of $2.78 billion during the quarter, compared to the consensus estimate of $2.93 billion. During the same quarter in the previous year, the company posted $1.20 earnings per share. The business’s revenue was down 6.4% on a year-over-year basis. As a group, equities analysts anticipate that Crown will post 5.9 EPS for the current fiscal year.

Crown Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, June 27th. Investors of record on Thursday, June 13th will be paid a dividend of $0.25 per share. The ex-dividend date of this dividend is Thursday, June 13th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.21%. Crown’s dividend payout ratio (DPR) is presently 28.82%.

Insider Buying and Selling at Crown

In other Crown news, CEO Timothy J. Donahue sold 22,500 shares of Crown stock in a transaction on Tuesday, April 30th. The shares were sold at an average price of $85.18, for a total value of $1,916,550.00. Following the completion of the transaction, 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 filing with the Securities & Exchange Commission, which is accessible through this link. Insiders own 0.90% of the company’s stock.

Institutional Trading of Crown

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Norges Bank purchased a new position in shares of Crown during the fourth quarter valued at approximately $109,826,000. Clearbridge Investments LLC boosted its stake in shares of Crown by 474.8% during the fourth quarter. Clearbridge Investments LLC now owns 1,214,618 shares of the industrial products company’s stock valued at $111,854,000 after purchasing an additional 1,003,312 shares during the period. Boston Partners bought a new position in shares of Crown in the fourth quarter worth about $84,960,000. Toronto Dominion Bank increased its stake in Crown by 41.9% in the 3rd quarter. Toronto Dominion Bank now owns 2,213,904 shares of the industrial products company’s stock worth $195,886,000 after buying an additional 654,082 shares during the period. Finally, Hsbc Holdings PLC boosted its position in Crown by 46.7% in the 3rd quarter. Hsbc Holdings PLC now owns 1,414,343 shares of the industrial products company’s stock valued at $125,449,000 after buying an additional 450,087 shares during the period. 90.93% of the stock is owned by hedge funds and other 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.