Crown (NYSE:CCK) Price Target Increased to $84.00 by Analysts at Wells Fargo & Company

Crown (NYSE:CCK) had its target price upped by Wells Fargo & Company from $76.00 to $84.00 in a research report released on Wednesday morning, Benzinga reports. The firm currently has an equal weight rating on the industrial products company’s stock.

Other analysts have also issued research reports about the stock. 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 objective on the stock. JPMorgan Chase & Co. increased their price target on shares of Crown from $85.00 to $90.00 and gave the stock an overweight rating in a report on Wednesday. Wolfe Research assumed coverage on shares of Crown in a report on Friday, March 1st. They set an outperform rating and a $102.00 price target on the stock. Royal Bank of Canada lowered their price target on shares of Crown from $110.00 to $97.00 and set an outperform rating on the stock in a report on Thursday, February 8th. Finally, Mizuho lowered their price target on shares of Crown from $105.00 to $96.00 and set a buy rating on the stock in a report on Tuesday, February 6th. Four analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of Moderate Buy and a consensus target price of $99.29.

Crown Stock Up 1.1 %

NYSE:CCK opened at $83.00 on Wednesday. The firm has a market capitalization of $10.03 billion, a P/E ratio of 23.92, a PEG ratio of 2.75 and a beta of 0.91. Crown has a 1-year low of $69.61 and a 1-year high of $96.35. The company’s fifty day moving average price is $77.94 and its 200-day moving average price is $82.62. The company has a debt-to-equity ratio of 2.34, a current ratio of 1.15 and a quick ratio of 0.77.

Crown (NYSE:CCK) last released its quarterly earnings data 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. The firm had revenue of $2.78 billion for the quarter, compared to analyst estimates of $2.93 billion. Crown had a net margin of 3.51% and a return on equity of 24.23%. The business’s quarterly revenue was down 6.4% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.20 earnings per share. As a group, equities research analysts anticipate that Crown will post 5.9 EPS for the current year.

Crown Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, March 28th. Shareholders of record on Thursday, March 14th were issued a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 1.20%. This is an increase from Crown’s previous quarterly dividend of $0.24. The ex-dividend date was Wednesday, March 13th. Crown’s dividend payout ratio (DPR) is presently 28.82%.

Insider Activity

In other 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 sale, the chief executive officer now directly owns 616,178 shares in the company, valued at $52,486,042.04. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Company insiders own 0.90% of the company’s stock.

Institutional Investors Weigh In On Crown

Hedge funds and other institutional investors have recently bought and sold shares of the company. Hudson Bay Capital Management LP increased its position in Crown by 55.6% during the third quarter. Hudson Bay Capital Management LP now owns 70,000 shares of the industrial products company’s stock worth $6,194,000 after purchasing an additional 25,000 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank increased its position in Crown by 245.5% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 62,808 shares of the industrial products company’s stock worth $5,784,000 after purchasing an additional 44,630 shares during the last quarter. Louisiana State Employees Retirement System acquired a new stake in Crown during the fourth quarter worth about $3,122,000. Wellington Management Group LLP increased its position in Crown by 4.1% during the third quarter. Wellington Management Group LLP now owns 504,720 shares of the industrial products company’s stock worth $44,658,000 after purchasing an additional 19,666 shares during the last quarter. Finally, SeaTown Holdings Pte. Ltd. increased its position in Crown by 19.6% during the third quarter. SeaTown Holdings Pte. Ltd. now owns 86,100 shares of the industrial products company’s stock worth $7,618,000 after purchasing an additional 14,100 shares during the last quarter. 90.93% of the stock is currently owned by institutional investors and hedge funds.

About Crown

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.