Crown (NYSE:CCK) Rating Increased to Buy at StockNews.com

StockNews.com upgraded shares of Crown (NYSE:CCK) from a hold rating to a buy rating in a research note released on Saturday morning.

Several other equities research analysts have also recently weighed in on the company. Citigroup increased their price objective on Crown from $110.00 to $111.00 and gave the company a “buy” rating in a research report on Monday, January 6th. Robert W. Baird raised their price target on shares of Crown from $100.00 to $110.00 and gave the stock an “outperform” rating in a research report on Monday, October 21st. Mizuho dropped their price objective on shares of Crown from $110.00 to $100.00 and set an “outperform” rating on the stock in a report on Tuesday, January 7th. Truist Financial increased their target price on shares of Crown from $103.00 to $104.00 and gave the company a “hold” rating in a research note on Monday, January 6th. Finally, Wells Fargo & Company cut their price target on Crown from $88.00 to $86.00 and set an “equal weight” rating for the company in a report on Thursday, January 16th. Two analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $105.46.

Crown Price Performance

NYSE CCK opened at $85.59 on Friday. The stock has a market capitalization of $10.24 billion, a PE ratio of 105.66, a P/E/G ratio of 1.51 and a beta of 0.86. The stock has a 50-day simple moving average of $86.58 and a 200 day simple moving average of $88.27. The company has a debt-to-equity ratio of 2.19, a quick ratio of 0.84 and a current ratio of 1.21. Crown has a twelve month low of $69.61 and a twelve month high of $98.46.

Crown Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, November 27th. Shareholders of record on Thursday, November 14th were paid a dividend of $0.25 per share. The ex-dividend date was Thursday, November 14th. This represents a $1.00 annualized dividend and a yield of 1.17%. Crown’s dividend payout ratio is currently 123.46%.

Insider Activity

In other Crown news, CEO Timothy J. Donahue sold 7,500 shares of Crown stock in a transaction on Wednesday, November 6th. The stock was 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 owns 563,678 shares in the company, valued at approximately $54,524,572.94. The trade was a 1.31 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, COO Gerard H. Gifford sold 10,000 shares of the stock in a transaction on Wednesday, October 23rd. The stock was sold at an average price of $95.89, for a total value of $958,900.00. Following the sale, the chief operating officer now owns 114,402 shares in the company, valued at $10,970,007.78. The trade was a 8.04 % decrease in their position. The disclosure for this sale can be found here. 0.90% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in CCK. Marshall & Sullivan Inc. WA boosted its position in Crown by 0.3% in the 4th quarter. Marshall & Sullivan Inc. WA now owns 57,268 shares of the industrial products company’s stock valued at $4,735,000 after buying an additional 155 shares during the last quarter. GAMMA Investing LLC lifted its stake in shares of Crown by 110.9% during the third quarter. GAMMA Investing LLC now owns 310 shares of the industrial products company’s stock valued at $30,000 after acquiring an additional 163 shares during the period. DekaBank Deutsche Girozentrale boosted its holdings in Crown by 2.0% in the third quarter. DekaBank Deutsche Girozentrale now owns 9,477 shares of the industrial products company’s stock valued at $894,000 after acquiring an additional 183 shares during the last quarter. M&T Bank Corp increased its position in Crown by 3.8% in the third quarter. M&T Bank Corp now owns 5,013 shares of the industrial products company’s stock worth $481,000 after purchasing an additional 185 shares during the period. Finally, Tokio Marine Asset Management Co. Ltd. raised its holdings in Crown by 6.7% during the 3rd quarter. Tokio Marine Asset Management Co. Ltd. now owns 3,539 shares of the industrial products company’s stock worth $339,000 after purchasing an additional 223 shares during the last quarter. Institutional investors and hedge funds own 90.93% of the company’s stock.

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.