Crown (NYSE:CCK) Downgraded to Hold Rating by StockNews.com

StockNews.com cut shares of Crown (NYSE:CCK) from a buy rating to a hold rating in a research note published on Friday morning.

Other research analysts also recently issued research reports about the company. Barclays increased their price objective on Crown from $100.00 to $112.00 and gave the company an “overweight” rating in a report on Monday, October 21st. Truist Financial increased their price target on shares of Crown from $103.00 to $104.00 and gave the company a “hold” rating in a research note on Monday, January 6th. Bank of America reduced their price objective on shares of Crown from $107.00 to $101.00 and set a “buy” rating for the company in a research report on Monday, January 6th. Royal Bank of Canada increased their target price on shares of Crown from $105.00 to $113.00 and gave the company an “outperform” rating in a research report on Wednesday, October 23rd. Finally, Morgan Stanley boosted their price target on shares of Crown from $105.00 to $109.00 and gave the company an “equal weight” rating in a research report on Monday, October 21st. Four equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $105.92.

Crown Stock Down 1.5 %

Shares of NYSE:CCK opened at $78.84 on Friday. Crown has a fifty-two week low of $69.61 and a fifty-two week high of $98.46. The firm’s 50 day moving average price is $87.66 and its 200 day moving average price is $87.74. The company has a quick ratio of 0.84, a current ratio of 1.21 and a debt-to-equity ratio of 2.19. The stock has a market cap of $9.43 billion, a price-to-earnings ratio of 97.33, a price-to-earnings-growth ratio of 1.95 and a beta of 0.86.

Crown (NYSE:CCK) last announced its quarterly earnings data on Thursday, October 17th. The industrial products company reported $1.99 earnings per share for the quarter, beating analysts’ consensus estimates of $1.81 by $0.18. The business had revenue of $3.07 billion for 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%. As a group, equities research analysts predict that Crown will post 6.34 earnings per share for the current fiscal year.

Crown Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, November 27th. Shareholders of record on Thursday, November 14th were paid a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 1.27%. The ex-dividend date of this dividend was Thursday, November 14th. Crown’s dividend payout ratio is presently 123.46%.

Insider Buying and Selling 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 owns 114,402 shares in the company, valued at $10,970,007.78. This trade represents a 8.04 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 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 owns 563,678 shares in the company, valued at $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.

Institutional Investors Weigh In On Crown

A number of hedge funds and other institutional investors have recently bought and sold shares of CCK. GAMMA Investing LLC grew its holdings in shares of Crown by 110.9% in the 3rd quarter. GAMMA Investing LLC now owns 310 shares of the industrial products company’s stock worth $30,000 after acquiring an additional 163 shares during the period. Covestor Ltd increased its position in shares of Crown by 156.5% in the third quarter. Covestor Ltd now owns 454 shares of the industrial products company’s stock valued at $44,000 after buying an additional 277 shares in the last quarter. Brooklyn Investment Group acquired a new position in shares of Crown during the 3rd quarter worth $44,000. Catalyst Capital Advisors LLC purchased a new stake in shares of Crown in the 3rd quarter worth about $48,000. Finally, Mirae Asset Global Investments Co. Ltd. acquired a new stake in Crown in the 3rd quarter valued at about $55,000. Institutional investors and hedge funds 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.