Crown (NYSE:CCK) Downgraded to "Hold" Rating by Baird R W

Baird R W cut shares of Crown (NYSE:CCK - Free Report) from a strong-buy rating to a hold rating in a report released on Thursday,Zacks.com reports.

Several other research analysts have also recently issued reports on CCK. Wells Fargo & Company raised their target price on Crown from $89.00 to $101.00 and gave the stock an "equal weight" rating in a research report on Wednesday, April 30th. Barclays raised their price objective on Crown from $109.00 to $117.00 and gave the stock an "overweight" rating in a research note on Wednesday, April 30th. Truist Financial raised their price objective on Crown from $110.00 to $117.00 and gave the stock a "hold" rating in a research note on Friday, July 11th. Wall Street Zen raised Crown from a "buy" rating to a "strong-buy" rating in a research note on Saturday, June 28th. Finally, Bank of America raised their price objective on Crown from $110.00 to $117.00 and gave the stock a "buy" rating in a research note on Wednesday, July 9th. Four research analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. According to data from MarketBeat, Crown presently has an average rating of "Moderate Buy" and an average price target of $119.45.

Crown Stock Up 0.0%

Shares of NYSE CCK traded up $0.01 during trading on Thursday, reaching $106.31. The company had a trading volume of 756,944 shares, compared to its average volume of 1,235,711. Crown has a 12-month low of $75.98 and a 12-month high of $109.48. The stock has a market cap of $12.37 billion, a PE ratio of 22.86, a P/E/G ratio of 1.74 and a beta of 0.76. The business's 50-day moving average is $102.07 and its 200 day moving average is $92.57. The company has a quick ratio of 0.56, a current ratio of 0.87 and a debt-to-equity ratio of 1.50.

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

Crown Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, May 29th. Shareholders of record on Thursday, May 15th were issued a $0.26 dividend. This represents a $1.04 annualized dividend and a dividend yield of 0.98%. The ex-dividend date of this dividend was Thursday, May 15th. Crown's dividend payout ratio is 22.37%.

Insider Buying and Selling at Crown

In related news, COO Gerard H. Gifford sold 7,000 shares of the company'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 directly owned 135,014 shares in the company, valued at $13,096,358. This represents a 4.93% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, VP Christy L. Kalaus sold 2,130 shares of the company's stock in a transaction 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 owned 4,500 shares of the company's stock, valued at $447,345. This trade represents 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 currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of CCK. Larson Financial Group LLC grew its holdings in Crown by 47.6% during the first quarter. Larson Financial Group LLC now owns 332 shares of the industrial products company's stock worth $30,000 after acquiring an additional 107 shares during the period. Geneos Wealth Management Inc. grew its holdings in Crown by 45.3% during the first quarter. Geneos Wealth Management Inc. now owns 356 shares of the industrial products company's stock worth $32,000 after acquiring an additional 111 shares during the period. Farther Finance Advisors LLC grew its holdings in Crown by 160.0% during the fourth quarter. Farther Finance Advisors LLC now owns 416 shares of the industrial products company's stock worth $34,000 after acquiring an additional 256 shares during the period. Signaturefd LLC grew its holdings in Crown by 161.2% during the first quarter. Signaturefd LLC now owns 397 shares of the industrial products company's stock worth $35,000 after acquiring an additional 245 shares during the period. Finally, National Pension Service grew its holdings in Crown by 74.4% during the first quarter. National Pension Service now owns 443 shares of the industrial products company's stock worth $40,000 after acquiring an additional 189 shares during the period. 90.93% of the stock is 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.