Crown (NYSE:CCK) Price Target Raised to $112.00

Crown (NYSE:CCK - Free Report) had its price objective boosted by JPMorgan Chase & Co. from $108.00 to $112.00 in a research note published on Wednesday,Benzinga reports. They currently have an overweight rating on the industrial products company's stock.

A number of other research analysts have also commented on the stock. Robert W. Baird upped their price target on shares of Crown from $105.00 to $110.00 and gave the company a "neutral" rating in a research note on Wednesday. Citigroup restated a "buy" rating on shares of Crown in a research report on Wednesday. Morgan Stanley increased their target price on shares of Crown from $114.00 to $118.00 and gave the stock an "overweight" rating in a research report on Wednesday, June 25th. Barclays increased their price target on shares of Crown from $109.00 to $117.00 and gave the stock an "overweight" rating in a research report on Wednesday, April 30th. Finally, Truist Financial reiterated a "hold" rating and set a $118.00 price target (up previously from $117.00) on shares of Crown in a research report on Wednesday. Four research analysts have rated the stock with a hold rating and ten have given a buy rating to the company. According to MarketBeat, Crown currently has a consensus rating of "Moderate Buy" and a consensus target price of $120.67.

Crown Stock Down 1.2%

NYSE:CCK traded down $1.24 on Wednesday, hitting $102.96. 1,370,236 shares of the company's stock were exchanged, compared to its average volume of 1,305,531. The firm has a 50-day moving average price of $102.56 and a 200-day moving average price of $93.22. The company has a debt-to-equity ratio of 1.67, a current ratio of 1.06 and a quick ratio of 0.56. Crown has a 52 week low of $75.98 and a 52 week high of $109.48. The company has a market cap of $11.98 billion, a P/E ratio of 21.63, a price-to-earnings-growth ratio of 1.66 and a beta of 0.76.

Crown (NYSE:CCK - Get Free Report) last issued its earnings results on Monday, July 21st. The industrial products company reported $2.15 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.86 by $0.29. The company had revenue of $3.15 billion for the quarter, compared to analysts' expectations of $3.10 billion. Crown had a net margin of 4.64% and a return on equity of 27.15%. Crown's quarterly revenue was up 3.6% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.81 EPS. As a group, analysts expect that Crown will post 6.96 EPS for the current fiscal year.

Crown Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, August 21st. Stockholders of record on Thursday, August 7th will be given a dividend of $0.26 per share. This represents a $1.04 annualized dividend and a dividend yield of 1.01%. The ex-dividend date of this dividend is Thursday, August 7th. Crown's dividend payout ratio (DPR) is presently 21.85%.

Insider Buying and Selling at Crown

In other Crown news, VP Christy L. Kalaus sold 2,130 shares of the firm's stock in a transaction on Friday, May 16th. The shares were sold at an average price of $99.41, for a total value of $211,743.30. Following the completion of the sale, the vice president directly owned 4,500 shares in the company, valued at approximately $447,345. This trade represents a 32.13% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, COO Gerard H. Gifford sold 7,000 shares of the firm's stock in a transaction 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 owned 135,014 shares of the company's stock, valued at $13,096,358. The trade was a 4.93% decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 0.90% of the company's stock.

Institutional Investors Weigh In On Crown

A number of large investors have recently bought and sold shares of CCK. Verdence Capital Advisors LLC grew its holdings in shares of Crown by 2.9% during the second quarter. Verdence Capital Advisors LLC now owns 6,909 shares of the industrial products company's stock valued at $711,000 after buying an additional 194 shares during the last quarter. CWM LLC grew its holdings in shares of Crown by 171.9% during the second quarter. CWM LLC now owns 41,587 shares of the industrial products company's stock valued at $4,283,000 after buying an additional 26,290 shares during the last quarter. Vanguard Personalized Indexing Management LLC grew its holdings in shares of Crown by 11.0% during the second quarter. Vanguard Personalized Indexing Management LLC now owns 13,978 shares of the industrial products company's stock valued at $1,440,000 after buying an additional 1,387 shares during the last quarter. Aberdeen Group plc grew its holdings in shares of Crown by 61.4% during the second quarter. Aberdeen Group plc now owns 6,051 shares of the industrial products company's stock valued at $623,000 after buying an additional 2,301 shares during the last quarter. Finally, IFP Advisors Inc lifted its position in shares of Crown by 1,093.9% during the second quarter. IFP Advisors Inc now owns 788 shares of the industrial products company's stock valued at $81,000 after purchasing an additional 722 shares in the last quarter. 90.93% of the stock is currently 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.