Mizuho Cuts Crown (NYSE:CCK) Price Target to $100.00

Crown (NYSE:CCK) had its price objective decreased by Mizuho from $110.00 to $100.00 in a research note issued to investors on Tuesday,Benzinga reports. Mizuho currently has an outperform rating on the industrial products company’s stock.

A number of other analysts have also recently commented on CCK. Morgan Stanley increased their price target on shares of Crown from $105.00 to $109.00 and gave the company an “equal weight” rating in a research note on Monday, October 21st. Wells Fargo & Company reduced their price target on Crown from $105.00 to $88.00 and set an “equal weight” rating for the company in a report on Monday. Loop Capital upped their price objective on Crown from $120.00 to $129.00 and gave the company a “buy” rating in a research note on Monday, October 21st. Bank of America reduced their target price on Crown from $107.00 to $101.00 and set a “buy” rating for the company in a research note on Monday. Finally, Robert W. Baird increased their price target on Crown from $100.00 to $110.00 and gave the company an “outperform” rating in a research note on Monday, October 21st. Four equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $104.62.

Crown Trading Down 0.5 %

Crown stock opened at $79.94 on Tuesday. The company has a market cap of $9.56 billion, a price-to-earnings ratio of 98.69, a P/E/G ratio of 1.95 and a beta of 0.86. The firm has a 50-day moving average of $88.23 and a 200-day moving average of $87.74. 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 has a one year low of $69.61 and a one year high of $98.46.

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, beating analysts’ consensus estimates of $1.81 by $0.18. Crown had a return on equity of 24.57% and a net margin of 0.83%. The firm had revenue of $3.07 billion during the quarter, compared to the consensus estimate of $3.07 billion. On average, equities analysts expect that Crown will post 6.34 earnings per share for the current fiscal year.

Crown Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, November 27th. Investors of record on Thursday, November 14th were paid a $0.25 dividend. The ex-dividend date was Thursday, November 14th. This represents a $1.00 annualized dividend and a dividend yield of 1.25%. Crown’s dividend payout ratio (DPR) is presently 123.46%.

Insiders Place Their Bets

In other news, CEO Timothy J. Donahue sold 7,500 shares of the firm’s stock in a transaction that occurred on Wednesday, November 6th. The shares were sold at an average price of $96.73, for a total transaction of $725,475.00. Following the transaction, the chief executive officer now directly owns 563,678 shares of the company’s stock, valued at approximately $54,524,572.94. This trade represents a 1.31 % 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. Corporate insiders own 0.90% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of CCK. Sessa Capital IM L.P. grew its stake in Crown by 153.0% during the second quarter. Sessa Capital IM L.P. now owns 3,289,374 shares of the industrial products company’s stock worth $244,697,000 after buying an additional 1,989,374 shares in the last quarter. Metropolis Capital Ltd boosted its position in shares of Crown by 269.7% during the 3rd quarter. Metropolis Capital Ltd now owns 1,455,752 shares of the industrial products company’s stock worth $139,578,000 after acquiring an additional 1,062,001 shares in the last quarter. Jennison Associates LLC increased its stake in Crown by 125.0% in the third quarter. Jennison Associates LLC now owns 1,352,711 shares of the industrial products company’s stock valued at $129,698,000 after acquiring an additional 751,530 shares during the last quarter. FMR LLC raised its position in Crown by 9.3% during the third 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 in the last quarter. Finally, 1832 Asset Management L.P. boosted its holdings in shares of Crown by 31.5% in the 2nd quarter. 1832 Asset Management L.P. now owns 1,976,500 shares of the industrial products company’s stock valued at $147,032,000 after purchasing an additional 473,000 shares in the last quarter. Institutional investors and hedge funds own 90.93% of the company’s stock.

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.