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

Crown Holdings, Inc. (NYSE:CCK) has been given a consensus rating of “Moderate Buy” by the fourteen brokerages that are currently covering the firm, MarketBeat reports. Three analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. The average 12 month target price among brokers that have updated their coverage on the stock in the last year is $103.07.

CCK has been the subject of a number of research analyst reports. Loop Capital increased their price target on shares of Crown from $106.00 to $120.00 and gave the company a “buy” rating in a report on Wednesday, July 24th. StockNews.com upgraded shares of Crown from a “hold” rating to a “buy” rating in a report on Tuesday. Truist Financial raised their target price on shares of Crown from $95.00 to $103.00 and gave the company a “hold” rating in a report on Tuesday. Royal Bank of Canada restated an “outperform” rating and set a $105.00 target price on shares of Crown in a report on Tuesday, September 24th. Finally, Barclays raised their target price on shares of Crown from $95.00 to $100.00 and gave the company an “overweight” rating in a report on Wednesday, July 24th.

Crown Stock Down 0.1 %

CCK stock opened at $94.03 on Friday. The company has a fifty day moving average of $91.10 and a 200-day moving average of $84.10. The company has a debt-to-equity ratio of 2.00, a quick ratio of 0.73 and a current ratio of 1.05. The stock has a market capitalization of $11.35 billion, a PE ratio of 27.12, a price-to-earnings-growth ratio of 2.19 and a beta of 0.86. Crown has a one year low of $69.61 and a one year high of $96.74.

Crown (NYSE:CCK) last announced its quarterly earnings results on Monday, July 22nd. The industrial products company reported $1.81 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.59 by $0.22. The business had revenue of $3.04 billion during the quarter, compared to the consensus estimate of $3.06 billion. Crown had a net margin of 3.68% and a return on equity of 23.96%. The business’s revenue was down 2.2% compared to the same quarter last year. During the same quarter last year, the firm posted $1.68 EPS. As a group, analysts expect that Crown will post 6.15 EPS for the current year.

Crown Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, August 29th. Shareholders of record on Thursday, August 15th were given a dividend of $0.25 per share. The ex-dividend date of this dividend was Thursday, August 15th. This represents a $1.00 dividend on an annualized basis and a yield of 1.06%. Crown’s dividend payout ratio (DPR) is 28.82%.

Insider Buying and Selling at Crown

In other Crown news, CEO Timothy J. Donahue sold 15,000 shares of Crown stock in a transaction that occurred on Tuesday, July 23rd. The shares were sold at an average price of $85.03, for a total transaction of $1,275,450.00. Following the transaction, the chief executive officer now directly owns 593,678 shares of the company’s stock, valued at $50,480,440.34. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other news, CEO Timothy J. Donahue sold 15,000 shares of Crown stock in a transaction that occurred on Tuesday, July 23rd. The shares were sold at an average price of $85.03, for a total transaction of $1,275,450.00. Following the sale, the chief executive officer now owns 593,678 shares in the company, valued at $50,480,440.34. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director James H. Miller sold 1,006 shares of Crown stock in a transaction that occurred on Monday, September 23rd. The shares were sold at an average price of $95.60, for a total transaction of $96,173.60. Following the sale, the director now owns 12,424 shares in the company, valued at $1,187,734.40. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 38,506 shares of company stock valued at $3,392,349 over the last ninety days. Corporate insiders own 0.90% of the company’s stock.

Institutional Trading of Crown

A number of hedge funds have recently made changes to their positions in the company. nVerses Capital LLC purchased a new stake in shares of Crown during the third quarter valued at approximately $623,000. Sumitomo Life Insurance Co. raised its stake in shares of Crown by 3.0% during the third quarter. Sumitomo Life Insurance Co. now owns 11,736 shares of the industrial products company’s stock valued at $1,125,000 after purchasing an additional 347 shares during the period. Creative Planning raised its stake in shares of Crown by 3.6% during the third quarter. Creative Planning now owns 45,835 shares of the industrial products company’s stock valued at $4,395,000 after purchasing an additional 1,586 shares during the period. Compagnie Lombard Odier SCmA increased its stake in shares of Crown by 29.5% in the third quarter. Compagnie Lombard Odier SCmA now owns 7,977 shares of the industrial products company’s stock worth $765,000 after buying an additional 1,817 shares during the last quarter. Finally, Exchange Traded Concepts LLC bought a new stake in shares of Crown in the third quarter worth $766,000. Hedge funds and other institutional investors 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.