Crown (NYSE:CCK) Updated at StockNews.com

VaselineAugust 22, 2024

0 4 minutes read

StockNews.com updated the quotes of Crown (NYSE:CCK – Free Report) from a hold rating to a buy rating in a research report on Wednesday.

Several other brokerages have also recently weighed in on CCK. Morgan Stanley raised their price target on shares of Crown from $89.00 to $92.00 and gave the company an equal weight rating in a research note on Wednesday, July 24th. Wells Fargo & Company boosted their price objective on Crown from $85.00 to $88.00 and gave the stock an equal weight rating in a research report on Wednesday, July 24th. Citigroup upped their price target on Crown from $94.00 to $100.00 and gave the company a buy rating in a research report on Thursday, July 25th. Barclays upped their target price on Crown from $95.00 to $100.00 and gave the stock an overweight rating in a report on Wednesday, July 24th. Finally, Loop Capital upped their price objective on shares of Crown from $106.00 to $120.00 and gave the company a buy rating in a report on Wednesday, July 24th. Three equities research analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. According to MarketBeat.com , Crown has an average rating of Moderate Buy and an average price target of $100.21.

Read our latest analysis of CCK

Crown trading up 1.7%

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Shares of NYSE:CCK opened at $89.31 on Wednesday. The company has a current ratio of 1.05, a quick ratio of 0.73, and a debt-to-equity ratio of 2.00. The company has a market cap of $10.78 billion, a PE ratio of 25.74, a P/E/G ratio of 2.09 and a beta of 0.85. Crown has a 12-month low of $69.61 and a 12-month high of $94.49. The company’s fifty-day simple moving average is $80.65, and its 200-day simple moving average is $79.77.

Crown (NYSE:CCK – Get Your Free Report ) last announced its earnings results on Monday, July 22nd. The industrial products company reported $1.81 EPS for the quarter, beating analysts’ consensus estimates of $1.59 by $0.22. Crown had a net margin of 3.68% and a return on equity of 23.96%. The business had revenue of $3.04 billion during the quarter, compared to the consensus estimate of $3.06 billion. In the same period last year, the company posted earnings per share of $1.68. The company’s revenue fell 2.2% year over year. As a group, equities research analysts predict that Crown will post 6.15 earnings per share for the current fiscal year.

Crown announces dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, August 29th. Stockholders of record on Thursday, August 15th will be given a $0.25 dividend. The ex-dividend date is Thursday, August 15. This represents a dividend of $1.00 on an annualized basis and a dividend yield of 1.12%. Crown’s payout ratio is currently 28.82%.

Insider activity at Crown

In other Crown news, CEO Timothy J. Donahue sold 7,500 shares of the stock in a transaction dated Wednesday, August 7th. The shares were sold at an average price of $85.85, for a total transaction of $643,875.00. Following the sale, the chief executive officer now directly owns 586,178 shares of the company’s stock, valued at approximately $50,323,381.30. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available on the SEC’s website. In other news, CEO Timothy J. Donahue sold 7,500 shares of the company’s stock in a transaction dated Wednesday, August 7th. The stock was sold at an average price of $85.85, for a total value of $643,875.00. Following the completion of the transaction, the chief executive officer now owns 586,178 shares of the company’s stock, valued at approximately $50,323,381.30. The sale was disclosed in a legal filing with the SEC, which is accessible via this link. Also, CEO Timothy J. Donahue sold 15,000 shares of the company’s stock in a transaction dated Tuesday, July 23rd. The stock was sold at an average price of $85.03, for a total value of $1,275,450.00. Following the sale, the chief executive officer now directly owns 593,678 shares in the company, valued at $50,480,440.34. The disclosure for this sale can be found here. Insiders have sold 31,500 shares of company stock worth $2,665,695 over the last three months. Company insiders own 0.90% of the company’s shares.

Hedge funds affect the crown

Several institutional investors have recently made changes to their positions in the company. Picton Mahoney Asset Management boosted its holdings in Crown by 14.0% during the fourth quarter. Picton Mahoney Asset Management now owns 1,181 shares of the industrial products company’s stock worth $109,000 after purchasing an additional 145 shares in the last quarter. Tokio Marine Asset Management Co. Ltd. raised its position in shares of Crown by 5.3% during the 4th quarter. Tokio Marine Asset Management Co. Ltd. now owns 3,057 shares of the industrial products company’s stock valued at $282,000 after acquiring an additional 154 shares during the period. Nisa Investment Advisors LLC boosted its holdings in Crown by 6.1% in the second quarter. Nisa Investment Advisors LLC now owns 2,753 shares of the industrial products company’s stock worth $205,000 after purchasing an additional 158 shares during the period. Envestnet Portfolio Solutions Inc. boosted its position in Crown by 6.9% during the fourth quarter. Envestnet Portfolio Solutions Inc. now owns 2,464 shares of the industrial products company’s stock worth $227,000 after purchasing an additional 160 shares during the last quarter. Finally, Fifth Third Bancorp boosted its holdings in Crown by 36.1% in the second quarter. Fifth Third Bancorp now owns 664 shares of the industrial products company’s stock valued at $49,000 after purchasing an additional 176 shares during the period. 90.93% of shares are held by hedge funds and other institutional investors.

Crown Company Profile

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Crown Holdings, Inc., together with its subsidiaries, is engaged in the packaging business in the United States and internationally. It operates through the Americas Beverage, European Beverage, Asia Pacific and Transit Packaging segments. The company manufactures and sells recyclable aluminum beverage cans and tops, glass bottles, steel crowns, aluminum caps, non-beverage cans and aerosol cans and closures.