Crown (NYSE:CCK) Given New $108.00 Price Target at UBS Group

Crown (NYSE:CCK) had its price objective cut by UBS Group from $113.00 to $108.00 in a report published on Friday morning,Benzinga reports. They currently have a buy rating on the industrial products company’s stock.

A number of other analysts also recently commented on CCK. Barclays upped their target price on Crown from $100.00 to $112.00 and gave the stock an “overweight” rating in a research note on Monday, October 21st. Loop Capital upped their target price on Crown from $120.00 to $129.00 and gave the stock a “buy” rating in a research note on Monday, October 21st. Royal Bank of Canada upped their target price on Crown from $105.00 to $113.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 23rd. Mizuho lowered their target price on Crown from $110.00 to $100.00 and set an “outperform” rating on the stock in a research note on Tuesday. Finally, Citigroup increased their price target on Crown from $110.00 to $111.00 and gave the stock a “buy” rating in a research report on Monday, January 6th. Four investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $105.92.

Crown Stock Down 1.5 %

Crown stock opened at $78.84 on Friday. 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 business’s 50-day simple moving average is $87.96 and its two-hundred day simple moving average is $87.68. The company has a market cap of $9.43 billion, a PE ratio of 97.33, a PEG ratio of 1.95 and a beta of 0.86. Crown has a fifty-two week low of $69.61 and a fifty-two week high of $98.46.

Crown (NYSE:CCK) last posted its quarterly earnings results on Thursday, October 17th. The industrial products company reported $1.99 earnings per share for the quarter, beating the consensus estimate of $1.81 by $0.18. The business had revenue of $3.07 billion for the quarter, compared to the consensus estimate of $3.07 billion. Crown had a return on equity of 24.57% and a net margin of 0.83%. Equities analysts anticipate that Crown will post 6.34 EPS for the current year.

Crown Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, November 27th. Stockholders of record on Thursday, November 14th were given a $0.25 dividend. The ex-dividend date of this dividend was Thursday, November 14th. This represents a $1.00 annualized dividend and a dividend yield of 1.27%. Crown’s dividend payout ratio (DPR) is presently 123.46%.

Insider Activity

In related news, COO Gerard H. Gifford sold 10,000 shares of Crown 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 transaction, the chief operating officer now owns 114,402 shares in the company, valued at approximately $10,970,007.78. This trade represents a 8.04 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO Timothy J. Donahue sold 7,500 shares of Crown 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 owns 563,678 shares in the company, valued at approximately $54,524,572.94. The trade was a 1.31 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.90% of the company’s stock.

Hedge Funds Weigh In On Crown

A number of institutional investors have recently added to or reduced their stakes in CCK. Acadian Asset Management LLC purchased a new position in Crown during the second quarter worth approximately $203,000. Daiwa Securities Group Inc. raised its position in Crown by 5.0% in the second quarter. Daiwa Securities Group Inc. now owns 8,372 shares of the industrial products company’s stock valued at $623,000 after purchasing an additional 400 shares during the period. American Century Companies Inc. raised its position in Crown by 99.2% in the second quarter. American Century Companies Inc. now owns 102,828 shares of the industrial products company’s stock valued at $7,649,000 after purchasing an additional 51,199 shares during the period. Dimensional Fund Advisors LP raised its position in Crown by 5.7% in the second quarter. Dimensional Fund Advisors LP now owns 1,471,750 shares of the industrial products company’s stock valued at $109,504,000 after purchasing an additional 79,502 shares during the period. Finally, Mutual of America Capital Management LLC raised its position in Crown by 3.6% in the second quarter. Mutual of America Capital Management LLC now owns 159,295 shares of the industrial products company’s stock valued at $11,850,000 after purchasing an additional 5,556 shares during the period. Hedge funds and other institutional investors own 90.93% of the company’s stock.

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.