Crown Holdings, Inc. (NYSE:CCK) Receives $99.29 Average Target Price from Analysts

Shares of Crown Holdings, Inc. (NYSE:CCK - Get Free Report) have received a consensus recommendation of "Moderate Buy" from the thirteen ratings firms that are presently covering the stock, Marketbeat reports. Three equities research analysts have rated the stock with a hold recommendation and ten have issued a buy recommendation on the company. The average 1-year price objective among brokers that have covered the stock in the last year is $99.29.

CCK has been the subject of a number of recent research reports. Truist Financial reiterated a "hold" rating and issued a $88.00 price objective (down from $100.00) on shares of Crown in a report on Wednesday, March 27th. Morgan Stanley initiated coverage on shares of Crown in a report on Monday, March 18th. They issued an "equal weight" rating and a $87.00 price objective for the company. Wells Fargo & Company upped their price objective on shares of Crown from $76.00 to $84.00 and gave the stock an "equal weight" rating in a report on Wednesday, May 1st. Robert W. Baird upped their price objective on shares of Crown from $90.00 to $100.00 and gave the stock an "outperform" rating in a report on Wednesday, May 1st. Finally, Mizuho decreased their price objective on shares of Crown from $105.00 to $96.00 and set a "buy" rating for the company in a report on Tuesday, February 6th.

Crown Stock Down 0.6 %

Shares of NYSE CCK traded down $0.47 during mid-day trading on Wednesday, reaching $84.22. The company had a trading volume of 621,466 shares, compared to its average volume of 1,211,830. Crown has a twelve month low of $69.61 and a twelve month high of $96.35. The company has a debt-to-equity ratio of 2.26, a quick ratio of 0.77 and a current ratio of 1.19. The stock has a market capitalization of $10.17 billion, a PE ratio of 24.27, a price-to-earnings-growth ratio of 2.83 and a beta of 0.88. The stock's 50 day moving average is $79.44 and its 200-day moving average is $82.86.

Crown (NYSE:CCK - Get Free Report) last posted its quarterly earnings results on Monday, April 29th. The industrial products company reported $1.02 earnings per share for the quarter, topping analysts' consensus estimates of $0.96 by $0.06. Crown had a net margin of 3.51% and a return on equity of 23.95%. The business had revenue of $2.78 billion for the quarter, compared to the consensus estimate of $2.93 billion. During the same period in the prior year, the business posted $1.20 earnings per share. Crown's revenue for the quarter was down 6.4% compared to the same quarter last year. As a group, equities analysts anticipate that Crown will post 5.95 earnings per share for the current fiscal year.

Crown Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, June 27th. Investors of record on Thursday, June 13th will be given a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 1.19%. The ex-dividend date is Thursday, June 13th. Crown's dividend payout ratio (DPR) is presently 28.82%.

Insider Buying and Selling

In related news, CEO Timothy J. Donahue sold 22,500 shares of the stock in a transaction dated Tuesday, April 30th. The shares were sold at an average price of $85.18, for a total value of $1,916,550.00. Following the completion of the transaction, the chief executive officer now owns 616,178 shares of the company's stock, valued at $52,486,042.04. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 0.90% of the company's stock.

Institutional Investors Weigh In On Crown

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Hudson Bay Capital Management LP raised its holdings in shares of Crown by 55.6% in the third quarter. Hudson Bay Capital Management LP now owns 70,000 shares of the industrial products company's stock valued at $6,194,000 after buying an additional 25,000 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in shares of Crown by 245.5% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 62,808 shares of the industrial products company's stock valued at $5,784,000 after purchasing an additional 44,630 shares in the last quarter. Louisiana State Employees Retirement System bought a new position in Crown in the 4th quarter worth approximately $3,122,000. Wellington Management Group LLP lifted its holdings in Crown by 4.1% during the 3rd quarter. Wellington Management Group LLP now owns 504,720 shares of the industrial products company's stock worth $44,658,000 after buying an additional 19,666 shares in the last quarter. Finally, International Assets Investment Management LLC bought a new position in Crown in the 4th quarter valued at $1,925,000. 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.