Crown (NYSE:CCK) Cut to “Hold” at StockNews.com

StockNews.com cut shares of Crown (NYSE:CCK) from a buy rating to a hold rating in a research note published on Wednesday morning.

A number of other analysts have also weighed in on the company. Citigroup upped their target price on Crown from $100.00 to $110.00 and gave the stock a “buy” rating in a report on Wednesday, October 2nd. Wells Fargo & Company raised their price objective on Crown from $97.00 to $105.00 and gave the company an “equal weight” rating in a research report on Monday, October 21st. Truist Financial boosted their target price on shares of Crown from $95.00 to $103.00 and gave the stock a “hold” rating in a report on Tuesday, October 15th. Robert W. Baird raised their target price on shares of Crown from $100.00 to $110.00 and gave the company an “outperform” rating in a research note on Monday, October 21st. Finally, Morgan Stanley upped their price target on Crown from $105.00 to $109.00 and gave the stock an “equal weight” rating in a research report 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. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $106.62.

Crown Price Performance

CCK stock opened at $83.19 on Wednesday. The stock has a market cap of $9.95 billion, a PE ratio of 102.70, a P/E/G ratio of 1.95 and a beta of 0.83. Crown has a 12 month low of $69.61 and a 12 month high of $98.46. The company has a 50-day moving average price of $90.79 and a 200 day moving average price of $87.50. The company has a current ratio of 1.21, a quick ratio of 0.84 and a debt-to-equity ratio of 2.19.

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

Crown Announces Dividend

The business 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 1.20%. The ex-dividend date of this dividend was Thursday, November 14th. Crown’s payout ratio is currently 123.46%.

Insider Transactions at Crown

In other news, CEO Timothy J. Donahue sold 7,500 shares of the stock in a transaction dated Monday, October 7th. The stock was sold at an average price of $93.00, for a total value of $697,500.00. Following the transaction, the chief executive officer now owns 571,178 shares in the company, valued at approximately $53,119,554. This represents a 1.30 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, COO Gerard H. Gifford sold 10,000 shares of the stock in a transaction that occurred on Wednesday, October 23rd. The shares were sold at an average price of $95.89, for a total transaction of $958,900.00. Following the completion of the transaction, the chief operating officer now owns 114,402 shares in the company, valued at $10,970,007.78. This represents a 8.04 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 25,000 shares of company stock valued at $2,381,875. 0.90% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of CCK. GAMMA Investing LLC raised its stake in shares of Crown by 110.9% during the third quarter. GAMMA Investing LLC now owns 310 shares of the industrial products company’s stock worth $30,000 after purchasing an additional 163 shares during the last quarter. DekaBank Deutsche Girozentrale lifted its stake in shares of Crown by 2.0% in the 3rd quarter. DekaBank Deutsche Girozentrale now owns 9,477 shares of the industrial products company’s stock worth $894,000 after acquiring an additional 183 shares during the period. M&T Bank Corp boosted its holdings in shares of Crown by 3.8% in the third quarter. M&T Bank Corp now owns 5,013 shares of the industrial products company’s stock valued at $481,000 after acquiring an additional 185 shares in the last quarter. CIBC Asset Management Inc increased its stake in shares of Crown by 5.4% during the second quarter. CIBC Asset Management Inc now owns 4,079 shares of the industrial products company’s stock worth $303,000 after acquiring an additional 209 shares during the period. Finally, Tokio Marine Asset Management Co. Ltd. raised its holdings in Crown by 6.7% during the third quarter. Tokio Marine Asset Management Co. Ltd. now owns 3,539 shares of the industrial products company’s stock worth $339,000 after purchasing an additional 223 shares in the last quarter. 90.93% of the stock is owned by hedge funds and other institutional investors.

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.