Crown (NYSE:CCK) Cut to “Hold” at StockNews.com

StockNews.com cut shares of Crown (NYSE:CCK) from a buy rating to a hold rating in a research report sent to investors on Friday morning.

Several other equities analysts have also issued reports on the stock. Royal Bank of Canada lifted their price target on shares of Crown from $105.00 to $113.00 and gave the stock an “outperform” rating in a report on Wednesday, October 23rd. Loop Capital boosted their target price on Crown from $120.00 to $129.00 and gave the stock a “buy” rating in a research note on Monday, October 21st. Truist Financial increased their price target on Crown from $103.00 to $104.00 and gave the company a “hold” rating in a research note on Monday, January 6th. Barclays boosted their price target on Crown from $100.00 to $112.00 and gave the stock an “overweight” rating in a research note on Monday, October 21st. Finally, Robert W. Baird increased their price objective on shares of Crown from $100.00 to $110.00 and gave the company an “outperform” rating in a research report on Monday, October 21st. Four analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. According to MarketBeat.com, Crown has an average rating of “Moderate Buy” and an average price target of $105.92.

Crown Trading Down 1.5 %

Shares of NYSE CCK opened at $78.84 on Friday. Crown has a twelve month low of $69.61 and a twelve month high of $98.46. The firm has a market cap of $9.43 billion, a PE ratio of 97.33, a price-to-earnings-growth ratio of 1.95 and a beta of 0.86. The business has a fifty day simple moving average of $87.66 and a two-hundred day simple moving average of $87.74. 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 (NYSE:CCK) last posted its quarterly earnings results on Thursday, October 17th. The industrial products company reported $1.99 EPS for the quarter, beating the consensus estimate of $1.81 by $0.18. The business had revenue of $3.07 billion during the quarter, compared to analyst estimates of $3.07 billion. Crown had a net margin of 0.83% and a return on equity of 24.57%. Analysts expect that Crown will post 6.34 earnings per share for the current fiscal year.

Crown Dividend Announcement

The firm also recently announced 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 of this dividend was Thursday, November 14th. This represents a $1.00 annualized dividend and a yield of 1.27%. Crown’s dividend payout ratio (DPR) is presently 123.46%.

Insider Buying and Selling

In other news, COO Gerard H. Gifford sold 10,000 shares of the firm’s stock in a transaction that occurred on Wednesday, October 23rd. The shares were sold at an average price of $95.89, for a total transaction of $958,900.00. Following the completion of the sale, the chief operating officer now owns 114,402 shares in the company, valued at $10,970,007.78. This trade represents a 8.04 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Timothy J. Donahue sold 7,500 shares of the company’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 owns 563,678 shares in the company, valued at $54,524,572.94. This represents a 1.31 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.90% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Crown

Institutional investors have recently made changes to their positions in the stock. Acadian Asset Management LLC purchased a new stake in shares of Crown in the 2nd quarter valued at $203,000. Daiwa Securities Group Inc. increased its stake in Crown by 5.0% during the 2nd quarter. Daiwa Securities Group Inc. now owns 8,372 shares of the industrial products company’s stock worth $623,000 after buying an additional 400 shares during the period. American Century Companies Inc. increased its stake in Crown by 99.2% during the 2nd quarter. American Century Companies Inc. now owns 102,828 shares of the industrial products company’s stock worth $7,649,000 after buying an additional 51,199 shares during the period. Dimensional Fund Advisors LP lifted its holdings in Crown by 5.7% during the 2nd quarter. Dimensional Fund Advisors LP now owns 1,471,750 shares of the industrial products company’s stock worth $109,504,000 after buying an additional 79,502 shares in the last quarter. Finally, Mutual of America Capital Management LLC boosted its position in Crown by 3.6% in the 2nd quarter. Mutual of America Capital Management LLC now owns 159,295 shares of the industrial products company’s stock valued at $11,850,000 after buying an additional 5,556 shares during the period. 90.93% of the stock is currently owned by institutional investors and hedge funds.

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.