Bank of America Lowers Crown (NYSE:CCK) Price Target to $101.00

Crown (NYSE:CCK) had its price target trimmed by Bank of America from $107.00 to $101.00 in a research report report published on Monday,Benzinga reports. The brokerage currently has a buy rating on the industrial products company’s stock.

CCK has been the subject of a number of other research reports. Mizuho set a $110.00 target price on Crown in a research note on Friday, October 18th. StockNews.com upgraded Crown from a “hold” rating to a “buy” rating in a research note on Thursday, January 2nd. Loop Capital upped their target price on Crown from $120.00 to $129.00 and gave the company a “buy” rating in a research report on Monday, October 21st. Robert W. Baird raised their price target on shares of Crown from $100.00 to $110.00 and gave the stock an “outperform” rating in a research report on Monday, October 21st. Finally, Wells Fargo & Company dropped their price objective on shares of Crown from $105.00 to $88.00 and set an “equal weight” rating on the stock in a report on Monday. Three equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $104.62.

Crown Price Performance

Shares of NYSE CCK opened at $79.94 on Monday. Crown has a fifty-two week low of $69.61 and a fifty-two week high of $98.46. The company has a debt-to-equity ratio of 2.19, a quick ratio of 0.84 and a current ratio of 1.21. The company has a market cap of $9.56 billion, a PE ratio of 98.69, a P/E/G ratio of 1.95 and a beta of 0.86. The business has a 50-day simple moving average of $88.54 and a two-hundred day simple moving average of $87.79.

Crown (NYSE:CCK) last released its 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. Crown had a net margin of 0.83% and a return on equity of 24.57%. The company had revenue of $3.07 billion for the quarter, compared to the consensus estimate of $3.07 billion. As a group, equities analysts expect that Crown will post 6.34 EPS for the current fiscal year.

Crown Dividend Announcement

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

Insider Activity at Crown

In other news, COO Gerard H. Gifford sold 10,000 shares of the company’s stock in a transaction that occurred on Wednesday, October 23rd. The stock was 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 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 sale was disclosed in a filing with the SEC, which is available through this link. Also, CEO Timothy J. Donahue sold 7,500 shares of Crown stock in a transaction 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 completion of the sale, the chief executive officer now directly owns 563,678 shares in the company, valued at $54,524,572.94. This represents a 1.31 % decrease in their position. The disclosure for this sale can be found here. 0.90% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of the stock. Tidal Investments LLC boosted its holdings in Crown by 121.3% in the 3rd quarter. Tidal Investments LLC now owns 21,997 shares of the industrial products company’s stock worth $2,109,000 after buying an additional 12,058 shares during the last quarter. Sumitomo Mitsui Trust Group Inc. boosted its stake in shares of Crown by 4.3% in the third quarter. Sumitomo Mitsui Trust Group Inc. now owns 249,041 shares of the industrial products company’s stock worth $23,878,000 after acquiring an additional 10,295 shares during the last quarter. Sei Investments Co. increased its position in shares of Crown by 139.2% during the second quarter. Sei Investments Co. now owns 122,380 shares of the industrial products company’s stock worth $9,104,000 after purchasing an additional 71,227 shares in the last quarter. Jensen Investment Management Inc. raised its stake in Crown by 7.8% in the 3rd quarter. Jensen Investment Management Inc. now owns 100,918 shares of the industrial products company’s stock valued at $9,676,000 after purchasing an additional 7,280 shares during the last quarter. Finally, BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp lifted its holdings in Crown by 62.0% in the 2nd quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 23,142 shares of the industrial products company’s stock valued at $1,722,000 after purchasing an additional 8,857 shares in the last quarter. Institutional investors and hedge funds own 90.93% of the company’s stock.

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.