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

Shares of Crown Holdings, Inc. (NYSE:CCK) have received an average rating of “Moderate Buy” from the thirteen ratings firms 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 brokerages that have updated their coverage on the stock in the last year is $98.31.

A number of equities research analysts recently issued reports on CCK shares. JPMorgan Chase & Co. upped their target price on Crown from $85.00 to $90.00 and gave the company an “overweight” rating in a research note on Wednesday, May 1st. Truist Financial reaffirmed a “hold” rating and set a $88.00 price objective (down previously from $100.00) on shares of Crown in a research note on Wednesday, March 27th. Loop Capital boosted their target price on shares of Crown from $101.00 to $106.00 and gave the company a “buy” rating in a research note on Wednesday, May 1st. Morgan Stanley assumed coverage on shares of Crown in a research note on Monday, March 18th. They set an “equal weight” rating and a $87.00 price target on the stock. Finally, Robert W. Baird lifted their price target on shares of Crown from $90.00 to $100.00 and gave the stock an “outperform” rating in a report on Wednesday, May 1st.

Insider Activity

In related news, Director James H. Miller sold 9,000 shares of the stock in a transaction that occurred on Tuesday, June 4th. The shares were sold at an average price of $82.93, for a total transaction of $746,370.00. Following the completion of the sale, the director now owns 12,884 shares of the company’s stock, valued at approximately $1,068,470.12. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other news, CEO Timothy J. Donahue sold 7,500 shares of the company’s stock in a transaction dated Wednesday, May 15th. The stock was sold at an average price of $85.00, for a total value of $637,500.00. Following the completion of the sale, the chief executive officer now owns 608,678 shares of the company’s stock, valued at $51,737,630. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director James H. Miller sold 9,000 shares of the firm’s stock in a transaction dated Tuesday, June 4th. The shares were sold at an average price of $82.93, for a total value of $746,370.00. Following the sale, the director now owns 12,884 shares in the company, valued at $1,068,470.12. The disclosure for this sale can be found here. Insiders have sold 39,000 shares of company stock valued at $3,300,420 in the last three months. Corporate insiders own 0.90% of the company’s stock.

Hedge Funds Weigh In On Crown

Institutional investors and hedge funds have recently bought and sold shares of the stock. Sound Income Strategies LLC purchased a new position in shares of Crown in the fourth quarter valued at $26,000. Rise Advisors LLC acquired a new position in Crown in the 1st quarter worth $27,000. Quest Partners LLC purchased a new position in Crown in the 4th quarter valued at about $34,000. Mather Group LLC. acquired a new stake in shares of Crown during the first quarter valued at about $32,000. Finally, Quarry LP increased its position in shares of Crown by 190.3% during the fourth quarter. Quarry LP now owns 421 shares of the industrial products company’s stock worth $39,000 after acquiring an additional 276 shares during the last quarter. Hedge funds and other institutional investors own 90.93% of the company’s stock.

Crown Stock Performance

Shares of CCK stock opened at $72.48 on Thursday. Crown has a 12 month low of $69.61 and a 12 month high of $96.35. The company has a current ratio of 1.19, a quick ratio of 0.77 and a debt-to-equity ratio of 2.26. The company has a market cap of $8.75 billion, a P/E ratio of 20.89, a PEG ratio of 1.93 and a beta of 0.85. The firm has a fifty day moving average price of $80.22 and a 200 day moving average price of $81.22.

Crown (NYSE:CCK) last released its quarterly earnings data on Monday, April 29th. The industrial products company reported $1.02 EPS for the quarter, beating analysts’ consensus estimates of $0.96 by $0.06. The business had revenue of $2.78 billion for the quarter, compared to the consensus estimate of $2.93 billion. Crown had a return on equity of 23.95% and a net margin of 3.51%. The business’s revenue for the quarter was down 6.4% on a year-over-year basis. During the same quarter in the prior year, the business posted $1.20 EPS. Sell-side analysts predict that Crown will post 5.93 earnings per share for the current fiscal year.

Crown Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, June 27th. Shareholders of record on Thursday, June 13th were paid a dividend of $0.25 per share. The ex-dividend date was Thursday, June 13th. This represents a $1.00 annualized dividend and a yield of 1.38%. Crown’s dividend payout ratio is presently 28.82%.

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.