Analysts Set Crown Holdings, Inc. (NYSE:CCK) Target Price at $106.62

Crown Holdings, Inc. (NYSE:CCK) has been given a consensus rating of “Moderate Buy” by the thirteen analysts that are currently covering the stock, MarketBeat Ratings reports. Three investment analysts have rated the stock with a hold recommendation and ten have issued a buy recommendation on the company. The average 1-year price objective among analysts that have updated their coverage on the stock in the last year is $106.62.

Several research analysts have commented on CCK shares. Robert W. Baird lifted their target price on Crown from $100.00 to $110.00 and gave the stock an “outperform” rating in a report on Monday, October 21st. 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. StockNews.com raised shares of Crown from a “hold” rating to a “buy” rating in a research report on Saturday, October 26th. Barclays upped their target price on shares of Crown from $100.00 to $112.00 and gave the stock an “overweight” rating in a research note on Monday, October 21st. Finally, Mizuho set a $110.00 price target on shares of Crown in a report on Friday, October 18th.

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 stock was sold at an average price of $95.89, for a total transaction of $958,900.00. Following the completion of the sale, the chief operating officer now directly owns 114,402 shares of the company’s stock, 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 Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Timothy J. Donahue sold 7,500 shares of the stock in a transaction dated Wednesday, November 6th. The stock was sold at an average price of $96.73, for a total transaction of $725,475.00. Following the sale, the chief executive officer now directly owns 563,678 shares in the company, valued at $54,524,572.94. This represents a 1.31 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 26,006 shares of company stock valued at $2,478,049 over the last 90 days. Insiders own 0.90% of the company’s stock.

Hedge Funds Weigh In On Crown

Several large investors have recently bought and sold shares of the business. GAMMA Investing LLC grew its holdings in shares of Crown by 110.9% during the third quarter. GAMMA Investing LLC now owns 310 shares of the industrial products company’s stock worth $30,000 after buying an additional 163 shares during the last quarter. Covestor Ltd grew its position in Crown by 156.5% during the third quarter. Covestor Ltd now owns 454 shares of the industrial products company’s stock valued at $44,000 after acquiring an additional 277 shares during the period. Brooklyn Investment Group acquired a new position in shares of Crown during the 3rd quarter valued at $44,000. Catalyst Capital Advisors LLC acquired a new position in Crown in the 3rd quarter worth $48,000. Finally, Mirae Asset Global Investments Co. Ltd. bought a new stake in shares of Crown in the 3rd quarter worth about $55,000. Hedge funds and other institutional investors own 90.93% of the company’s stock.

Crown Price Performance

Shares of NYSE CCK opened at $89.56 on Friday. Crown has a twelve month low of $69.61 and a twelve month high of $98.46. The business’s 50 day moving average price is $93.23 and its two-hundred day moving average price is $87.29. 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 company has a market cap of $10.71 billion, a PE ratio of 110.57, a price-to-earnings-growth ratio of 2.04 and a beta of 0.83.

Crown (NYSE:CCK) last released its quarterly earnings results 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. Crown had a net margin of 0.83% and a return on equity of 24.57%. The company had revenue of $3.07 billion during the quarter, compared to the consensus estimate of $3.07 billion. On average, analysts predict that Crown will post 6.34 EPS for the current year.

Crown Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, November 27th. Shareholders of record on Thursday, November 14th were issued a dividend of $0.25 per share. The ex-dividend date of this dividend was Thursday, November 14th. This represents a $1.00 dividend on an annualized basis and a yield of 1.12%. Crown’s dividend payout ratio is currently 123.46%.

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.