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 published on Thursday morning.

CCK has been the topic of a number of other reports. Wells Fargo & Company increased their price objective 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. Truist Financial lifted their price objective on shares of Crown from $95.00 to $103.00 and gave the company a “hold” rating in a research note on Tuesday, October 15th. Loop Capital upped 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. Robert W. Baird lifted their price target on Crown from $100.00 to $110.00 and gave the company an “outperform” rating in a research note on Monday, October 21st. Finally, Mizuho set a $110.00 price objective on Crown in a research report on Friday, October 18th. Three analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $106.62.

Crown Stock Down 0.8 %

NYSE CCK opened at $80.54 on Thursday. The company has a current ratio of 1.21, a quick ratio of 0.84 and a debt-to-equity ratio of 2.19. The company has a market cap of $9.64 billion, a price-to-earnings ratio of 99.43, a PEG ratio of 1.95 and a beta of 0.86. The company has a 50 day moving average of $89.13 and a 200-day moving average of $87.59. Crown has a 1-year low of $69.61 and a 1-year high of $98.46.

Crown (NYSE:CCK) last announced its quarterly earnings data on Thursday, October 17th. The industrial products company reported $1.99 earnings per share for the quarter, beating the consensus estimate of $1.81 by $0.18. The firm had revenue of $3.07 billion during the quarter, compared to analysts’ expectations of $3.07 billion. Crown had a return on equity of 24.57% and a net margin of 0.83%. On average, equities research analysts expect that Crown will post 6.34 earnings per share for the current fiscal year.

Crown Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, November 27th. Shareholders of record on Thursday, November 14th were given a $0.25 dividend. The ex-dividend date of this dividend was Thursday, November 14th. This represents a $1.00 annualized dividend and a yield of 1.24%. Crown’s dividend payout ratio is presently 123.46%.

Insider Transactions at Crown

In related news, CEO Timothy J. Donahue sold 7,500 shares of the business’s stock in a transaction on Monday, October 7th. The shares were sold at an average price of $93.00, for a total value of $697,500.00. Following the sale, the chief executive officer now owns 571,178 shares of the company’s stock, valued at $53,119,554. The trade was a 1.30 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, COO Gerard H. Gifford sold 10,000 shares of the firm’s 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 transaction, the chief operating officer now directly owns 114,402 shares of the company’s stock, valued at approximately $10,970,007.78. This represents a 8.04 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 25,000 shares of company stock worth $2,381,875. Insiders own 0.90% of the company’s stock.

Hedge Funds Weigh In On Crown

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Rothschild Investment LLC bought a new position in Crown during the 2nd quarter worth approximately $62,000. CIBC Asset Management Inc raised its stake in Crown by 5.4% during the second quarter. CIBC Asset Management Inc now owns 4,079 shares of the industrial products company’s stock worth $303,000 after buying an additional 209 shares during the last quarter. Jensen Investment Management Inc. lifted its holdings in Crown by 2.6% in the second quarter. Jensen Investment Management Inc. now owns 93,638 shares of the industrial products company’s stock valued at $6,966,000 after buying an additional 2,410 shares during the period. Candriam S.C.A. raised its position in shares of Crown by 56.4% in the 2nd quarter. Candriam S.C.A. now owns 417,937 shares of the industrial products company’s stock worth $31,089,000 after acquiring an additional 150,655 shares in the last quarter. Finally, Savant Capital LLC lifted its stake in shares of Crown by 240.8% in the 2nd quarter. Savant Capital LLC now owns 10,797 shares of the industrial products company’s stock valued at $803,000 after purchasing an additional 7,629 shares during the period. 90.93% of the stock is owned by institutional investors and hedge funds.

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.