Crown Holdings, Inc. (NYSE:CCK) Given Average Recommendation of “Moderate Buy” by Analysts

Shares of Crown Holdings, Inc. (NYSE:CCK) have earned an average rating of “Moderate Buy” from the thirteen analysts that are currently covering the firm, MarketBeat.com reports. Three research analysts have rated the stock with a hold rating and ten have given a buy rating to the company. The average 12-month price objective among analysts that have issued ratings on the stock in the last year is $106.62.

A number of brokerages recently issued reports on CCK. Loop Capital upped their price target on shares of Crown from $120.00 to $129.00 and gave the stock a “buy” rating in a research note on Monday, October 21st. Barclays increased their price target on shares of Crown from $100.00 to $112.00 and gave the company an “overweight” rating in a report on Monday, October 21st. Truist Financial boosted their price objective on shares of Crown from $95.00 to $103.00 and gave the stock a “hold” rating in a report on Tuesday, October 15th. Wells Fargo & Company increased their target price on Crown from $97.00 to $105.00 and gave the company an “equal weight” rating in a research note on Monday, October 21st. Finally, Robert W. Baird boosted their price target on Crown from $100.00 to $110.00 and gave the stock an “outperform” rating in a research note on Monday, October 21st.

Insider Activity at Crown

In related news, CEO Timothy J. Donahue sold 7,500 shares of Crown stock in a transaction on Monday, October 7th. The stock was 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 in the company, valued at approximately $53,119,554. The trade was a 1.30 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, COO Gerard H. Gifford sold 10,000 shares of the business’s stock in a transaction dated Wednesday, October 23rd. The shares were sold at an average price of $95.89, for a total value of $958,900.00. Following the sale, the chief operating officer now directly owns 114,402 shares of the company’s stock, valued at $10,970,007.78. This represents a 8.04 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 25,000 shares of company stock worth $2,381,875. 0.90% of the stock is owned by company insiders.

Hedge Funds Weigh In On Crown

Large investors have recently added to or reduced their stakes in the company. FMR LLC raised its position in shares of Crown by 9.3% during the 3rd quarter. FMR LLC now owns 8,787,606 shares of the industrial products company’s stock valued at $842,556,000 after purchasing an additional 749,085 shares during the period. Victory Capital Management Inc. increased its stake in Crown by 7.8% in the 3rd quarter. Victory Capital Management Inc. now owns 5,676,902 shares of the industrial products company’s stock worth $544,301,000 after buying an additional 412,973 shares in the last quarter. State Street Corp raised its holdings in Crown by 1.8% during the third quarter. State Street Corp now owns 4,000,402 shares of the industrial products company’s stock valued at $383,559,000 after acquiring an additional 69,260 shares during the period. Sessa Capital IM L.P. lifted its position in shares of Crown by 153.0% in the second quarter. Sessa Capital IM L.P. now owns 3,289,374 shares of the industrial products company’s stock valued at $244,697,000 after acquiring an additional 1,989,374 shares in the last quarter. Finally, Geode Capital Management LLC boosted its stake in shares of Crown by 4.2% in the third quarter. Geode Capital Management LLC now owns 2,061,869 shares of the industrial products company’s stock worth $197,242,000 after acquiring an additional 82,764 shares during the period. Hedge funds and other institutional investors own 90.93% of the company’s stock.

Crown Trading Up 0.3 %

NYSE:CCK opened at $83.70 on Thursday. Crown has a one year low of $69.61 and a one year high of $98.46. The company’s 50-day simple moving average is $91.21 and its 200 day simple moving average is $87.56. The firm has a market capitalization of $10.01 billion, a P/E ratio of 103.33, a PEG ratio of 1.95 and a beta of 0.84. The company has a debt-to-equity ratio of 2.19, a current ratio of 1.21 and a quick ratio of 0.84.

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

Crown Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, November 27th. Stockholders of record on Thursday, November 14th were paid a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 1.19%. The ex-dividend date of this dividend was Thursday, November 14th. Crown’s dividend payout ratio (DPR) is presently 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.