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

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

Other analysts have also recently issued reports about the company. StockNews.com raised Crown from a “hold” rating to a “buy” rating in a research report on Thursday, January 2nd. Citigroup raised 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. Robert W. Baird increased their price target on shares of Crown from $100.00 to $110.00 and gave the stock an “outperform” rating in a research note on Monday, October 21st. Barclays raised their price objective on shares of Crown from $100.00 to $112.00 and gave the stock an “overweight” rating in a research report on Monday, October 21st. Finally, Wells Fargo & Company increased their target price on shares of Crown from $97.00 to $105.00 and gave the stock an “equal weight” rating in a research note on Monday, October 21st. Three research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $104.62.

Crown Stock Performance

Shares of Crown stock opened at $79.94 on Monday. The firm has a market capitalization of $9.56 billion, a P/E ratio of 98.69, a P/E/G ratio of 1.95 and a beta of 0.86. The company has a quick ratio of 0.84, a current ratio of 1.21 and a debt-to-equity ratio of 2.19. Crown has a 52 week low of $69.61 and a 52 week high of $98.46. The firm’s 50 day moving average is $88.54 and its two-hundred day moving average is $87.79.

Crown (NYSE:CCK) last announced its quarterly earnings results on Thursday, October 17th. The industrial products company reported $1.99 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 firm had revenue of $3.07 billion for the quarter, compared to analyst estimates of $3.07 billion. Research analysts forecast that Crown will post 6.34 EPS for the current fiscal year.

Crown Dividend Announcement

The business also recently announced 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 was Thursday, November 14th. This represents a $1.00 annualized dividend and a dividend yield of 1.25%. Crown’s payout ratio is currently 123.46%.

Insider Transactions at Crown

In other news, COO Gerard H. Gifford sold 10,000 shares of the business’s 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 sale, the chief operating officer now owns 114,402 shares of the company’s stock, valued at $10,970,007.78. The trade was a 8.04 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Timothy J. Donahue sold 7,500 shares of the firm’s stock in a transaction that occurred on Wednesday, November 6th. The shares were sold at an average price of $96.73, for a total value of $725,475.00. Following the completion of the transaction, the chief executive officer now directly owns 563,678 shares of the company’s stock, valued at $54,524,572.94. The trade was a 1.31 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 0.90% of the company’s stock.

Institutional Trading of Crown

Several large investors have recently bought and sold shares of the company. CWA Asset Management Group LLC acquired a new stake in Crown in the 4th quarter valued at about $1,051,000. Nordea Investment Management AB grew its position in shares of Crown by 19.3% in the fourth quarter. Nordea Investment Management AB now owns 1,095,382 shares of the industrial products company’s stock valued at $90,511,000 after purchasing an additional 176,959 shares during the last quarter. Everence Capital Management Inc. purchased a new position in shares of Crown during the 4th quarter worth approximately $348,000. GAMMA Investing LLC raised its position in shares of Crown by 84.2% during the 4th quarter. GAMMA Investing LLC now owns 571 shares of the industrial products company’s stock worth $47,000 after purchasing an additional 261 shares during the last quarter. Finally, Franklin Resources Inc. lifted its stake in Crown by 3.6% in the 3rd quarter. Franklin Resources Inc. now owns 941,033 shares of the industrial products company’s stock valued at $87,949,000 after buying an additional 32,909 shares in the last quarter. Institutional investors and hedge funds own 90.93% of the company’s stock.

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.