Crown (NYSE:CCK) Upgraded at StockNews.com

StockNews.com upgraded shares of Crown (NYSE:CCK) from a hold rating to a buy rating in a research note released on Thursday.

CCK has been the topic of a number of other reports. Wells Fargo & Company lifted their price target 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. Royal Bank of Canada boosted their target price on Crown from $105.00 to $113.00 and gave the company an “outperform” rating in a research note on Wednesday, October 23rd. Truist Financial increased their price target on Crown from $95.00 to $103.00 and gave the stock a “hold” rating in a report on Tuesday, October 15th. Mizuho set a $110.00 price objective on Crown in a report on Friday, October 18th. Finally, Robert W. Baird increased their target price on Crown from $100.00 to $110.00 and gave the stock an “outperform” rating in a research note on Monday, October 21st. Three equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $106.62.

Crown Stock Down 0.8 %

Shares of NYSE:CCK opened at $80.54 on Thursday. The company has a debt-to-equity ratio of 2.19, a current ratio of 1.21 and a quick ratio of 0.84. The stock has a market cap of $9.64 billion, a price-to-earnings ratio of 99.43, a P/E/G ratio of 1.95 and a beta of 0.86. The company has a 50 day moving average of $89.13 and a 200-day moving average of $87.59. Crown has a one year low of $69.61 and a one year high of $98.46.

Crown (NYSE:CCK) last released its earnings results 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 analyst estimates of $3.07 billion. Crown had a net margin of 0.83% and a return on equity of 24.57%. On average, sell-side analysts forecast 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 issued a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 1.24%. The ex-dividend date of this dividend was Thursday, November 14th. Crown’s payout ratio is 123.46%.

Insider Activity at Crown

In related news, 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 directly owns 114,402 shares in the company, valued at approximately $10,970,007.78. This trade represents a 8.04 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO Timothy J. Donahue sold 7,500 shares of the business’s stock in a transaction that occurred on Wednesday, November 6th. The stock was sold at an average price of $96.73, for a total value of $725,475.00. Following the transaction, the chief executive officer now directly owns 563,678 shares in the company, valued at approximately $54,524,572.94. This trade represents a 1.31 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 25,000 shares of company stock valued at $2,381,875. 0.90% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in CCK. Rothschild Investment LLC bought a new stake in shares of Crown during the 2nd quarter worth about $62,000. CIBC Asset Management Inc boosted its holdings 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. Jensen Investment Management Inc. grew its position in shares of Crown by 2.6% in the second quarter. Jensen Investment Management Inc. now owns 93,638 shares of the industrial products company’s stock valued at $6,966,000 after purchasing an additional 2,410 shares during the last quarter. Candriam S.C.A. increased its stake in shares of Crown by 56.4% during the second quarter. Candriam S.C.A. now owns 417,937 shares of the industrial products company’s stock worth $31,089,000 after purchasing an additional 150,655 shares during the period. Finally, Savant Capital LLC lifted its holdings in Crown by 240.8% during the 2nd quarter. Savant Capital LLC now owns 10,797 shares of the industrial products company’s stock worth $803,000 after purchasing an additional 7,629 shares during the last quarter. 90.93% of the stock is currently owned by institutional investors.

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.