Brokerages Set Crown Holdings, Inc. (NYSE:CCK) PT at $100.21

Crown Holdings, Inc. (NYSE:CCK) has been assigned an average rating of “Moderate Buy” from the thirteen brokerages that are covering the company, MarketBeat reports. Four research analysts have rated the stock with a hold recommendation and nine have assigned a buy recommendation to the company. The average twelve-month price target among brokerages that have issued ratings on the stock in the last year is $99.36.

Several research firms have issued reports on CCK. JPMorgan Chase & Co. raised shares of Crown from a “neutral” rating to an “overweight” rating and set a $85.00 price target on the stock in a research report on Wednesday, February 7th. Mizuho dropped their price objective on shares of Crown from $105.00 to $96.00 and set a “buy” rating on the stock in a research report on Tuesday, February 6th. UBS Group started coverage on shares of Crown in a research report on Tuesday, January 16th. They issued a “buy” rating and a $112.00 price objective on the stock. Truist Financial reissued a “hold” rating and issued a $88.00 price objective (down from $100.00) on shares of Crown in a research report on Wednesday. Finally, Morgan Stanley assumed coverage on shares of Crown in a research note on Monday, March 18th. They issued an “equal weight” rating and a $87.00 price target on the stock.

Insider Activity

In other news, CEO Timothy J. Donahue sold 7,500 shares of the firm’s stock in a transaction that occurred on Monday, January 8th. The shares were sold at an average price of $90.96, for a total value of $682,200.00. Following the sale, the chief executive officer now directly owns 651,264 shares in the company, valued at approximately $59,238,973.44. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. 0.90% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the business. BlackRock Inc. raised its holdings in Crown by 68.6% in the 2nd quarter. BlackRock Inc. now owns 11,889,202 shares of the industrial products company’s stock valued at $1,032,815,000 after buying an additional 4,836,470 shares during the last quarter. Vanguard Group Inc. raised its holdings in Crown by 1.5% in the 4th quarter. Vanguard Group Inc. now owns 11,825,703 shares of the industrial products company’s stock valued at $1,089,029,000 after buying an additional 173,460 shares during the last quarter. Victory Capital Management Inc. raised its holdings in Crown by 7.3% in the 4th quarter. Victory Capital Management Inc. now owns 5,136,706 shares of the industrial products company’s stock valued at $473,039,000 after buying an additional 350,265 shares during the last quarter. FMR LLC raised its holdings in Crown by 8.6% during the 3rd quarter. FMR LLC now owns 3,776,097 shares of the industrial products company’s stock worth $334,109,000 after purchasing an additional 298,766 shares during the last quarter. Finally, State Street Corp raised its holdings in Crown by 55.5% during the 2nd quarter. State Street Corp now owns 3,709,202 shares of the industrial products company’s stock worth $322,218,000 after purchasing an additional 1,323,107 shares during the last quarter. Institutional investors own 90.93% of the company’s stock.

Crown Stock Performance

Shares of CCK opened at $79.26 on Tuesday. Crown has a 12 month low of $69.61 and a 12 month high of $96.35. The firm has a fifty day simple moving average of $79.52 and a 200 day simple moving average of $84.02. The stock has a market capitalization of $9.57 billion, a price-to-earnings ratio of 21.08, a PEG ratio of 2.60 and a beta of 0.91. The company has a current ratio of 1.15, a quick ratio of 0.77 and a debt-to-equity ratio of 2.34.

Crown (NYSE:CCK) last posted its quarterly earnings results on Tuesday, February 6th. The industrial products company reported $1.24 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.43 by ($0.19). Crown had a return on equity of 25.75% and a net margin of 3.75%. The firm had revenue of $2.86 billion for the quarter, compared to the consensus estimate of $2.96 billion. During the same period last year, the company posted $1.17 earnings per share. The business’s revenue was down 5.1% compared to the same quarter last year. Research analysts forecast that Crown will post 5.95 EPS for the current fiscal year.

Crown Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, March 28th. Stockholders of record on Thursday, March 14th were paid a $0.25 dividend. This is an increase from Crown’s previous quarterly dividend of $0.24. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.26%. The ex-dividend date of this dividend was Wednesday, March 13th. Crown’s dividend payout ratio (DPR) is presently 26.60%.

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.