Crown (NYSE:CCK) Given New $97.00 Price Target at Truist Financial

Crown (NYSE:CCK - Free Report) had its target price cut by Truist Financial from $107.00 to $97.00 in a research note published on Tuesday morning,Benzinga reports. They currently have a hold rating on the industrial products company's stock.

A number of other equities research analysts have also commented on the company. StockNews.com raised Crown from a "hold" rating to a "buy" rating in a research report on Friday, February 7th. Bank of America cut their price target on shares of Crown from $107.00 to $101.00 and set a "buy" rating on the stock in a report on Monday, January 6th. Wells Fargo & Company increased their price objective on shares of Crown from $86.00 to $90.00 and gave the company an "equal weight" rating in a research note on Friday, February 7th. Royal Bank of Canada boosted their target price on Crown from $113.00 to $115.00 and gave the stock an "outperform" rating in a research note on Friday, February 7th. Finally, UBS Group decreased their price target on Crown from $113.00 to $108.00 and set a "buy" rating for the company in a research report on Friday, January 10th. Two investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. Based on data from MarketBeat, Crown has an average rating of "Moderate Buy" and an average price target of $105.42.

Crown Stock Down 0.0 %

CCK stock traded down $0.01 during midday trading on Tuesday, reaching $89.49. 1,203,331 shares of the company's stock traded hands, compared to its average volume of 1,192,628. Crown has a 52 week low of $70.84 and a 52 week high of $98.46. The company has a market cap of $10.47 billion, a price-to-earnings ratio of 25.14, a P/E/G ratio of 1.56 and a beta of 0.79. The firm's fifty day moving average price is $87.19 and its 200-day moving average price is $88.22. The company has a quick ratio of 0.80, a current ratio of 1.22 and a debt-to-equity ratio of 1.88.

Crown (NYSE:CCK - Get Free Report) last posted its earnings results on Wednesday, February 5th. The industrial products company reported $1.59 EPS for the quarter, topping the consensus estimate of $1.51 by $0.08. Crown had a net margin of 3.59% and a return on equity of 25.12%. As a group, sell-side analysts forecast that Crown will post 6.96 earnings per share for the current fiscal year.

Crown Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, April 1st. Investors of record on Tuesday, March 18th were paid a dividend of $0.26 per share. This is a boost from Crown's previous quarterly dividend of $0.25. This represents a $1.04 dividend on an annualized basis and a dividend yield of 1.16%. The ex-dividend date of this dividend was Tuesday, March 18th. Crown's dividend payout ratio is presently 29.21%.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the business. Farther Finance Advisors LLC raised its stake in shares of Crown by 160.0% during the 4th quarter. Farther Finance Advisors LLC now owns 416 shares of the industrial products company's stock valued at $34,000 after purchasing an additional 256 shares during the period. GAMMA Investing LLC increased its position in shares of Crown by 84.2% during the fourth quarter. GAMMA Investing LLC now owns 571 shares of the industrial products company's stock valued at $47,000 after buying an additional 261 shares during the period. Mirae Asset Global Investments Co. Ltd. lifted its holdings in shares of Crown by 20.0% in the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 702 shares of the industrial products company's stock worth $57,000 after buying an additional 117 shares in the last quarter. Colonial Trust Co SC boosted its position in shares of Crown by 88.0% in the fourth quarter. Colonial Trust Co SC now owns 752 shares of the industrial products company's stock valued at $62,000 after acquiring an additional 352 shares during the period. Finally, Venturi Wealth Management LLC grew its stake in Crown by 48.6% during the fourth quarter. Venturi Wealth Management LLC now owns 823 shares of the industrial products company's stock valued at $68,000 after acquiring an additional 269 shares in the last quarter. 90.93% of the stock is currently owned by hedge funds and other institutional investors.

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.