Brokerages Set Crown Holdings, Inc. (NYSE:CCK) PT at $106.62

Shares of Crown Holdings, Inc. (NYSE:CCK) have been assigned an average recommendation of “Moderate Buy” from the thirteen ratings firms that are currently covering the company, Marketbeat reports. Three investment analysts have rated the stock with a hold rating and ten have given a buy rating to the company. The average 1 year price objective among analysts that have issued a report on the stock in the last year is $106.62.

Several analysts recently issued reports on the company. Barclays upped their target price on Crown from $100.00 to $112.00 and gave the stock an “overweight” rating in a report on Monday, October 21st. Truist Financial increased their price objective on Crown from $95.00 to $103.00 and gave the company a “hold” rating in a report on Tuesday, October 15th. StockNews.com raised shares of Crown from a “hold” rating to a “buy” rating in a research note on Saturday, October 26th. Royal Bank of Canada upped their price target on shares of Crown from $105.00 to $113.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 23rd. Finally, Morgan Stanley lifted their price objective on shares of Crown from $105.00 to $109.00 and gave the company an “equal weight” rating in a research report on Monday, October 21st.

Insider Buying and Selling

In other news, CEO Timothy J. Donahue sold 7,500 shares of the firm’s stock in a transaction that occurred on Monday, October 7th. The shares were sold at an average price of $93.00, for a total transaction of $697,500.00. Following the transaction, the chief executive officer now directly owns 571,178 shares of the company’s stock, valued at approximately $53,119,554. This trade represents a 1.30 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, COO Gerard H. Gifford sold 10,000 shares of the business’s stock in a transaction that occurred on Wednesday, October 23rd. The shares were sold at an average price of $95.89, for a total value of $958,900.00. Following the completion of the sale, the chief operating officer now owns 114,402 shares of the company’s stock, valued at approximately $10,970,007.78. This trade represents a 8.04 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 26,006 shares of company stock valued at $2,478,049. Insiders own 0.90% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the stock. GAMMA Investing LLC increased its holdings in Crown by 110.9% in the 3rd quarter. GAMMA Investing LLC now owns 310 shares of the industrial products company’s stock valued at $30,000 after buying an additional 163 shares during the period. Covestor Ltd increased its stake in Crown by 156.5% in the third quarter. Covestor Ltd now owns 454 shares of the industrial products company’s stock valued at $44,000 after acquiring an additional 277 shares during the last quarter. Brooklyn Investment Group acquired a new position in Crown during the third quarter valued at approximately $44,000. Catalyst Capital Advisors LLC bought a new stake in Crown during the third quarter worth $48,000. Finally, Mirae Asset Global Investments Co. Ltd. bought a new stake in Crown during the third quarter worth $55,000. Institutional investors and hedge funds own 90.93% of the company’s stock.

Crown Price Performance

NYSE CCK opened at $88.38 on Friday. The firm’s 50 day moving average is $93.11 and its 200-day moving average is $87.32. The company has a quick ratio of 0.84, a current ratio of 1.21 and a debt-to-equity ratio of 2.19. The company has a market capitalization of $10.57 billion, a PE ratio of 109.11, a price-to-earnings-growth ratio of 2.04 and a beta of 0.83. Crown has a 12-month low of $69.61 and a 12-month high of $98.46.

Crown (NYSE:CCK) last issued its quarterly earnings results on Thursday, October 17th. The industrial products company reported $1.99 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.81 by $0.18. Crown had a net margin of 0.83% and a return on equity of 24.57%. The firm had revenue of $3.07 billion for the quarter, compared to analyst estimates of $3.07 billion. Equities research analysts anticipate that Crown will post 6.34 earnings per share for the current fiscal year.

Crown Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, November 27th. Stockholders of record on Thursday, November 14th were given a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 1.13%. The ex-dividend date of this dividend was Thursday, November 14th. Crown’s payout ratio is 123.46%.

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.