Crown (NYSE:CCK) Price Target Raised to $101.00 at Wells Fargo & Company

Crown (NYSE:CCK) had its price target increased by Wells Fargo & Company from $89.00 to $101.00 in a research note released on Wednesday morning,Benzinga reports. The firm currently has an equal weight rating on the industrial products company’s stock.

Several other research firms have also recently commented on CCK. Mizuho boosted their price target on shares of Crown from $105.00 to $110.00 and gave the stock an “outperform” rating in a report on Tuesday. Truist Financial dropped their target price on Crown from $107.00 to $97.00 and set a “hold” rating on the stock in a report on Tuesday, April 22nd. Citigroup lifted their price target on Crown from $110.00 to $111.00 and gave the stock a “buy” rating in a report on Monday, January 6th. StockNews.com upgraded Crown from a “hold” rating to a “buy” rating in a report on Friday, February 7th. Finally, Bank of America decreased their target price on Crown from $107.00 to $101.00 and set a “buy” rating for the company in a research note on Monday, January 6th. Two equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $110.45.

Crown Stock Performance

Shares of CCK stock opened at $96.98 on Wednesday. Crown has a 52 week low of $70.84 and a 52 week high of $98.48. The firm has a 50 day moving average of $87.93 and a two-hundred day moving average of $88.33. The company has a quick ratio of 0.80, a current ratio of 1.22 and a debt-to-equity ratio of 1.88. The stock has a market capitalization of $11.34 billion, a PE ratio of 27.24, a P/E/G ratio of 1.56 and a beta of 0.79.

Crown (NYSE:CCK) last released its earnings results on Monday, April 28th. The industrial products company reported $1.67 EPS for the quarter, topping the consensus estimate of $1.22 by $0.45. The firm had revenue of $2.89 billion during the quarter, compared to analysts’ expectations of $2.82 billion. Crown had a return on equity of 25.12% and a net margin of 3.59%. Crown’s revenue for the quarter was up 3.7% on a year-over-year basis. During the same period in the previous year, the firm posted $1.02 EPS. On average, research analysts predict that Crown will post 6.96 EPS for the current fiscal year.

Crown Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, May 29th. Stockholders of record on Thursday, May 15th will be issued a $0.26 dividend. This represents a $1.04 annualized dividend and a dividend yield of 1.07%. The ex-dividend date is Thursday, May 15th. Crown’s payout ratio is currently 22.37%.

Insider Activity

In other Crown news, COO Gerard H. Gifford sold 7,000 shares of Crown stock in a transaction on Friday, May 2nd. The shares were sold at an average price of $97.00, for a total value of $679,000.00. Following the transaction, the chief operating officer now directly owns 135,014 shares in the company, valued at approximately $13,096,358. The trade was a 4.93 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Corporate insiders own 0.90% of the company’s stock.

Institutional Investors Weigh In On Crown

Hedge funds have recently made changes to their positions in the business. Victory Capital Management Inc. lifted its position in Crown by 1.8% during the 4th quarter. Victory Capital Management Inc. now owns 5,779,691 shares of the industrial products company’s stock worth $477,923,000 after acquiring an additional 102,789 shares during the period. Bank of New York Mellon Corp grew its position in Crown by 5.6% in the 1st quarter. Bank of New York Mellon Corp now owns 3,135,062 shares of the industrial products company’s stock valued at $279,836,000 after buying an additional 167,252 shares during the last quarter. Pacer Advisors Inc. increased its stake in Crown by 10,138.8% in the 4th quarter. Pacer Advisors Inc. now owns 3,105,118 shares of the industrial products company’s stock valued at $256,762,000 after buying an additional 3,074,791 shares during the period. Metropolis Capital Ltd raised its position in Crown by 68.7% during the 4th quarter. Metropolis Capital Ltd now owns 2,456,357 shares of the industrial products company’s stock worth $203,116,000 after buying an additional 1,000,605 shares during the last quarter. Finally, AQR Capital Management LLC lifted its stake in shares of Crown by 30.6% in the 4th quarter. AQR Capital Management LLC now owns 1,705,081 shares of the industrial products company’s stock worth $140,720,000 after acquiring an additional 399,842 shares during the period. 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.