Crown Holdings, Inc. (NYSE:CCK) Receives $110.45 Consensus Target Price from Analysts

Shares of Crown Holdings, Inc. (NYSE:CCK - Get Free Report) have been assigned a consensus recommendation of "Moderate Buy" from the eleven brokerages that are presently covering the firm, Marketbeat.com reports. Two investment analysts have rated the stock with a hold recommendation and nine have assigned a buy recommendation to the company. The average 1 year price objective among brokers that have issued ratings on the stock in the last year is $110.45.

A number of equities analysts have weighed in on the company. Mizuho lifted their price objective on Crown from $105.00 to $110.00 and gave the company an "outperform" rating in a research note on Tuesday, April 29th. Wall Street Zen cut Crown from a "strong-buy" rating to a "buy" rating in a research report on Saturday, June 14th. Wells Fargo & Company lifted their price target on Crown from $89.00 to $101.00 and gave the company an "equal weight" rating in a research report on Wednesday, April 30th. UBS Group lifted their target price on shares of Crown from $109.00 to $114.00 and gave the company a "buy" rating in a report on Tuesday, April 29th. Finally, Truist Financial cut their target price on shares of Crown from $107.00 to $97.00 and set a "hold" rating for the company in a report on Tuesday, April 22nd.

Crown Stock Performance

Shares of NYSE:CCK traded up $1.05 during trading on Thursday, hitting $103.59. The stock had a trading volume of 2,792,146 shares, compared to its average volume of 1,240,082. Crown has a 12-month low of $70.84 and a 12-month high of $103.86. The stock has a market capitalization of $12.06 billion, a price-to-earnings ratio of 22.28, a price-to-earnings-growth ratio of 1.79 and a beta of 0.76. The company has a quick ratio of 0.56, a current ratio of 0.87 and a debt-to-equity ratio of 1.50. The stock has a 50-day simple moving average of $96.12 and a two-hundred day simple moving average of $89.71.

Crown (NYSE:CCK - Get Free Report) last posted its quarterly earnings results on Monday, April 28th. The industrial products company reported $1.67 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.22 by $0.45. Crown had a net margin of 4.62% and a return on equity of 26.98%. The company had revenue of $2.89 billion during the quarter, compared to analyst estimates of $2.82 billion. During the same period last year, the firm posted $1.02 EPS. Crown's revenue for the quarter was up 3.7% compared to the same quarter last year. On average, equities research analysts expect that Crown will post 6.96 earnings per share for the current fiscal year.

Crown Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, May 29th. Investors of record on Thursday, May 15th were issued a $0.26 dividend. This represents a $1.04 annualized dividend and a yield of 1.00%. The ex-dividend date was Thursday, May 15th. Crown's payout ratio is presently 22.37%.

Insider Buying and Selling

In related news, COO Gerard H. Gifford sold 7,000 shares of the business's stock in a transaction that occurred on Friday, May 2nd. The stock was sold at an average price of $97.00, for a total transaction of $679,000.00. Following the completion of the sale, the chief operating officer now directly owns 135,014 shares in the company, valued at approximately $13,096,358. The trade was a 4.93% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Christy L. Kalaus sold 2,130 shares of the business's stock in a transaction that occurred on Friday, May 16th. The stock was sold at an average price of $99.41, for a total value of $211,743.30. Following the sale, the vice president now owns 4,500 shares of the company's stock, valued at $447,345. The trade was a 32.13% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.90% of the stock is owned by insiders.

Institutional Trading of Crown

Several large investors have recently made changes to their positions in the company. Invesco Ltd. grew its stake in Crown by 412.2% during the 1st quarter. Invesco Ltd. now owns 1,719,296 shares of the industrial products company's stock valued at $153,464,000 after acquiring an additional 1,383,624 shares in the last quarter. Norges Bank purchased a new stake in shares of Crown in the fourth quarter valued at approximately $113,568,000. Thompson Siegel & Walmsley LLC purchased a new stake in Crown in the 4th quarter valued at $66,732,000. Vulcan Value Partners LLC grew its holdings in Crown by 450.5% in the 4th quarter. Vulcan Value Partners LLC now owns 823,691 shares of the industrial products company's stock valued at $68,027,000 after buying an additional 674,072 shares in the last quarter. Finally, Renaissance Technologies LLC grew its holdings in Crown by 146.3% in the 4th quarter. Renaissance Technologies LLC now owns 1,008,500 shares of the industrial products company's stock valued at $83,393,000 after buying an additional 599,000 shares in the last quarter. 90.93% of the stock is currently 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.