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

Crown Holdings, Inc. (NYSE:CCK) has received a consensus recommendation of “Moderate Buy” from the thirteen brokerages that are covering the company, MarketBeat Ratings reports. Three investment analysts have rated the stock with a hold recommendation and ten have issued a buy recommendation on the company. The average twelve-month price objective among brokers that have updated their coverage on the stock in the last year is $106.62.

Several equities research analysts have issued reports on the stock. Wells Fargo & Company raised their price objective on shares of Crown from $97.00 to $105.00 and gave the stock an “equal weight” rating in a research report on Monday, October 21st. StockNews.com lowered Crown from a “buy” rating to a “hold” rating in a report on Wednesday, December 25th. Truist Financial lifted their target price on Crown from $95.00 to $103.00 and gave the stock a “hold” rating in a report on Tuesday, October 15th. Loop Capital upped their price target on shares of Crown from $120.00 to $129.00 and gave the company a “buy” rating in a research note on Monday, October 21st. Finally, Citigroup lifted their price objective on shares of Crown from $100.00 to $110.00 and gave the stock a “buy” rating in a research note on Wednesday, October 2nd.

Insider Buying and Selling at Crown

In related news, CEO Timothy J. Donahue sold 7,500 shares of the business’s stock in a transaction on Monday, October 7th. The shares were sold at an average price of $93.00, for a total transaction of $697,500.00. Following the transaction, the chief executive officer now owns 571,178 shares in the company, valued at $53,119,554. The trade was a 1.30 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, COO Gerard H. Gifford sold 10,000 shares of the firm’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 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 represents a 8.04 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 25,000 shares of company stock worth $2,381,875. Insiders own 0.90% of the company’s stock.

Hedge Funds Weigh In On Crown

Institutional investors have recently modified their holdings of the company. Franklin Resources Inc. grew its position in Crown by 3.6% in the 3rd quarter. Franklin Resources Inc. now owns 941,033 shares of the industrial products company’s stock valued at $87,949,000 after purchasing an additional 32,909 shares during the period. Tidal Investments LLC lifted its stake in shares of Crown by 121.3% in the third quarter. Tidal Investments LLC now owns 21,997 shares of the industrial products company’s stock valued at $2,109,000 after buying an additional 12,058 shares in the last quarter. Wilmington Savings Fund Society FSB grew its holdings in shares of Crown by 48.3% during the third quarter. Wilmington Savings Fund Society FSB now owns 16,575 shares of the industrial products company’s stock valued at $1,589,000 after buying an additional 5,397 shares during the last quarter. Sanctuary Advisors LLC increased its position in shares of Crown by 57.5% during the third quarter. Sanctuary Advisors LLC now owns 8,936 shares of the industrial products company’s stock worth $829,000 after acquiring an additional 3,264 shares in the last quarter. Finally, Virtu Financial LLC acquired a new stake in shares of Crown in the 3rd quarter worth about $861,000. 90.93% of the stock is owned by institutional investors and hedge funds.

Crown Stock Performance

Shares of NYSE CCK opened at $81.89 on Thursday. The company has a current ratio of 1.21, a quick ratio of 0.84 and a debt-to-equity ratio of 2.19. The company has a market capitalization of $9.80 billion, a P/E ratio of 101.10, 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 stock has a 50 day moving average of $90.21 and a 200-day moving average of $87.62.

Crown (NYSE:CCK) last released its quarterly earnings data on Thursday, October 17th. The industrial products company reported $1.99 EPS for the quarter, topping analysts’ consensus estimates of $1.81 by $0.18. The firm had revenue of $3.07 billion during the quarter, compared to analysts’ expectations of $3.07 billion. Crown had a net margin of 0.83% and a return on equity of 24.57%. As a group, equities research analysts predict that Crown will post 6.34 EPS for the current year.

Crown Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, November 27th. Investors of record on Thursday, November 14th were issued a $0.25 dividend. The ex-dividend date was Thursday, November 14th. This represents a $1.00 dividend on an annualized basis and a yield of 1.22%. Crown’s payout ratio is 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.