Brokerages Set Crown Holdings, Inc. (NYSE:CCK) Target Price at $120.67

Key Points

• Crown Holdings, Inc. has received a consensus rating of "Moderate Buy" from thirteen analysts, with an average 1-year target price of $120.67.
• The company reported earnings of $2.15 EPS for the last quarter, beating analysts' expectations of $1.86 and showing a revenue increase of 3.6% year-over-year.
• Crown recently declared a quarterly dividend of $0.26 per share, which results in an annualized dividend of $1.04 and a yield of 1.0%.

Crown Holdings, Inc. (NYSE:CCK - Get Free Report) has been given a consensus recommendation of "Moderate Buy" by the thirteen research firms that are currently covering the stock, Marketbeat.com reports. Four research analysts have rated the stock with a hold recommendation and nine have assigned a buy recommendation to the company. The average 12-month price target among analysts that have updated their coverage on the stock in the last year is $120.6667.

A number of analysts have recently commented on CCK shares. Baird R W lowered Crown from a "strong-buy" rating to a "hold" rating in a report on Thursday, July 17th. JPMorgan Chase & Co. boosted their price target on Crown from $108.00 to $112.00 and gave the company an "overweight" rating in a report on Wednesday, July 23rd. Mizuho boosted their price target on Crown from $110.00 to $127.00 and gave the company an "outperform" rating in a report on Tuesday, July 15th. Wells Fargo & Company lifted their target price on Crown from $101.00 to $110.00 and gave the company an "equal weight" rating in a research report on Friday, July 18th. Finally, Morgan Stanley lifted their target price on Crown from $114.00 to $118.00 and gave the company an "overweight" rating in a research report on Wednesday, June 25th.

Insider Activity at Crown

In related news, VP Christy L. Kalaus sold 2,130 shares of the stock in a transaction that occurred on Friday, May 16th. The stock was sold at an average price of $99.41, for a total transaction of $211,743.30. Following the sale, the vice president owned 4,500 shares of the company's stock, valued at $447,345. This represents a 32.13% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CAO Gerard H. Gifford sold 8,222 shares of the stock in a transaction that occurred on Friday, July 25th. The stock was sold at an average price of $102.93, for a total value of $846,290.46. Following the sale, the chief accounting officer directly owned 122,585 shares in the company, valued at $12,617,674.05. This represents a 6.29% decrease in their position. The disclosure for this sale can be found here. 0.90% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of CCK. Nomura Asset Management Co. Ltd. raised its position in Crown by 0.8% during the 2nd quarter. Nomura Asset Management Co. Ltd. now owns 36,347 shares of the industrial products company's stock worth $3,743,000 after purchasing an additional 290 shares during the last quarter. Raiffeisen Bank International AG grew its stake in shares of Crown by 1.1% in the 2nd quarter. Raiffeisen Bank International AG now owns 98,062 shares of the industrial products company's stock valued at $10,191,000 after buying an additional 1,094 shares during the period. Universal Beteiligungs und Servicegesellschaft mbH grew its stake in shares of Crown by 16.4% in the 2nd quarter. Universal Beteiligungs und Servicegesellschaft mbH now owns 121,093 shares of the industrial products company's stock valued at $12,470,000 after buying an additional 17,089 shares during the period. Alberta Investment Management Corp grew its stake in shares of Crown by 44.4% in the 2nd quarter. Alberta Investment Management Corp now owns 17,900 shares of the industrial products company's stock valued at $1,843,000 after buying an additional 5,500 shares during the period. Finally, Westwood Holdings Group Inc. lifted its position in Crown by 3.4% in the 2nd quarter. Westwood Holdings Group Inc. now owns 311,126 shares of the industrial products company's stock valued at $32,040,000 after acquiring an additional 10,148 shares in the last quarter. 90.93% of the stock is currently owned by institutional investors.

Crown Trading Down 1.4%

Shares of Crown stock traded down $1.47 during trading on Friday, reaching $100.02. 108,990 shares of the company were exchanged, compared to its average volume of 1,291,619. The company has a quick ratio of 0.69, a current ratio of 1.06 and a debt-to-equity ratio of 1.67. Crown has a twelve month low of $75.98 and a twelve month high of $109.48. The business has a 50-day moving average price of $102.92 and a 200-day moving average price of $94.60. The firm has a market capitalization of $11.64 billion, a price-to-earnings ratio of 21.04, a P/E/G ratio of 1.55 and a beta of 0.74.

Crown (NYSE:CCK - Get Free Report) last posted its earnings results on Monday, July 21st. The industrial products company reported $2.15 earnings per share for the quarter, topping the consensus estimate of $1.86 by $0.29. The firm had revenue of $3.15 billion for the quarter, compared to analyst estimates of $3.10 billion. Crown had a return on equity of 27.15% and a net margin of 4.64%. The company's revenue for the quarter was up 3.6% on a year-over-year basis. During the same period in the previous year, the company posted $1.81 earnings per share. Sell-side analysts anticipate that Crown will post 6.96 EPS for the current fiscal year.

Crown Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, August 21st. Stockholders of record on Thursday, August 7th will be given a $0.26 dividend. The ex-dividend date of this dividend is Thursday, August 7th. This represents a $1.04 annualized dividend and a dividend yield of 1.0%. Crown's dividend payout ratio is presently 21.85%.

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.