Crown (NYSE:CCK) Price Target Raised to $90.00 at JPMorgan Chase & Co.

Crown (NYSE:CCK) had its price target boosted by JPMorgan Chase & Co. from $85.00 to $90.00 in a research report sent to investors on Wednesday, Benzinga reports. The brokerage currently has an overweight rating on the industrial products company’s stock.

A number of other equities research analysts also recently issued reports on the company. Mizuho reduced their price target on 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 began coverage on Crown in a research note on Tuesday, January 16th. They set a buy rating and a $112.00 target price for the company. Royal Bank of Canada cut their target price on Crown from $110.00 to $97.00 and set an outperform rating for the company in a research note on Thursday, February 8th. Robert W. Baird upped their target price on Crown from $90.00 to $100.00 and gave the stock an outperform rating in a research note on Wednesday. Finally, Wolfe Research began coverage on Crown in a research note on Friday, March 1st. They set an outperform rating and a $102.00 target price for the company. Four investment analysts have rated the stock with a hold rating and ten have given a buy rating to the company. Based on data from MarketBeat.com, Crown has a consensus rating of Moderate Buy and an average target price of $99.29.

Crown Trading Up 1.1 %

Shares of NYSE:CCK opened at $83.00 on Wednesday. The company has a market capitalization of $10.03 billion, a P/E ratio of 23.92, a P/E/G 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 has a debt-to-equity ratio of 2.34, a current ratio of 1.15 and a quick ratio of 0.77. The business’s 50 day simple moving average is $77.94 and its 200 day simple moving average is $82.62.

Crown (NYSE:CCK) last issued its quarterly earnings results on Monday, April 29th. The industrial products company reported $1.02 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.96 by $0.06. The business had revenue of $2.78 billion for the quarter, compared to the consensus estimate of $2.93 billion. Crown had a return on equity of 24.23% and a net margin of 3.51%. The firm’s quarterly revenue was down 6.4% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.20 earnings per share. On average, research analysts anticipate that Crown will post 5.9 EPS for the current fiscal year.

Crown Increases Dividend

The company 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 represents a $1.00 dividend on an annualized basis and a dividend yield of 1.20%. This is a boost from Crown’s previous quarterly dividend of $0.24. The ex-dividend date of this dividend was Wednesday, March 13th. Crown’s dividend payout ratio is presently 28.82%.

Insider Activity

In other news, CEO Timothy J. Donahue sold 22,500 shares of the stock in a transaction on Tuesday, April 30th. The stock was 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 directly owns 616,178 shares in the company, valued at approximately $52,486,042.04. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.90% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the company. Hudson Bay Capital Management LP increased its holdings in 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 purchasing an additional 25,000 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in 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 during the period. Louisiana State Employees Retirement System acquired a new stake in Crown in the fourth quarter valued at $3,122,000. Wellington Management Group LLP increased its holdings in Crown by 4.1% in the third quarter. Wellington Management Group LLP now owns 504,720 shares of the industrial products company’s stock valued at $44,658,000 after purchasing an additional 19,666 shares during the period. Finally, SeaTown Holdings Pte. Ltd. increased its holdings in Crown by 19.6% in the third quarter. SeaTown Holdings Pte. Ltd. now owns 86,100 shares of the industrial products company’s stock valued at $7,618,000 after purchasing an additional 14,100 shares during the period. 90.93% of the stock is currently owned by institutional investors.

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.