Crown (NYSE:CCK) Price Target Increased to $110.00 by Analysts at Citigroup

Crown (NYSE:CCK) had its target price raised by Citigroup from $100.00 to $110.00 in a research report sent to investors on Wednesday, Benzinga reports. Citigroup currently has a buy rating on the industrial products company’s stock.

A number of other analysts also recently issued reports on CCK. StockNews.com downgraded shares of Crown from a buy rating to a hold rating in a report on Monday, September 9th. Barclays increased their target price on shares of Crown from $95.00 to $100.00 and gave the stock an overweight rating in a research note on Wednesday, July 24th. Royal Bank of Canada restated an outperform rating and issued a $105.00 price target on shares of Crown in a research note on Tuesday, September 24th. Truist Financial increased their price target on Crown from $88.00 to $95.00 and gave the stock a hold rating in a research report on Wednesday, July 24th. Finally, Bank of America boosted their price objective on Crown from $98.00 to $102.00 and gave the company a buy rating in a research report on Wednesday, July 24th. Four equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. According to data from MarketBeat, Crown currently has an average rating of Moderate Buy and an average price target of $101.86.

Crown Price Performance

Shares of CCK opened at $93.76 on Wednesday. The business’s 50-day moving average is $90.32 and its two-hundred day moving average is $83.30. The company has a market capitalization of $11.32 billion, a P/E ratio of 27.02, a P/E/G ratio of 2.26 and a beta of 0.86. Crown has a fifty-two week low of $69.61 and a fifty-two week high of $96.74. The company has a debt-to-equity ratio of 2.00, a quick ratio of 0.73 and a current ratio of 1.05.

Crown (NYSE:CCK) last posted its earnings results on Monday, July 22nd. The industrial products company reported $1.81 EPS for the quarter, topping the consensus estimate of $1.59 by $0.22. Crown had a return on equity of 23.96% and a net margin of 3.68%. The firm had revenue of $3.04 billion for the quarter, compared to analyst estimates of $3.06 billion. During the same period last year, the company earned $1.68 earnings per share. Crown’s revenue for the quarter was down 2.2% compared to the same quarter last year. Research analysts predict that Crown will post 6.15 earnings per share for the current year.

Crown Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, August 29th. Stockholders of record on Thursday, August 15th were given a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.07%. The ex-dividend date was Thursday, August 15th. Crown’s dividend payout ratio (DPR) is 28.82%.

Insider Transactions at Crown

In related news, Director James H. Miller sold 1,006 shares of the company’s stock in a transaction dated Monday, September 23rd. The shares were sold at an average price of $95.60, for a total transaction of $96,173.60. Following the completion of the sale, the director now owns 12,424 shares of the company’s stock, valued at approximately $1,187,734.40. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, CEO Timothy J. Donahue sold 7,500 shares of the business’s 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 transaction, the chief executive officer now owns 586,178 shares of the company’s stock, valued at approximately $50,323,381.30. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director James H. Miller sold 1,006 shares of the company’s stock in a transaction dated Monday, September 23rd. The shares were sold at an average price of $95.60, for a total transaction of $96,173.60. Following the completion of the sale, the director now directly owns 12,424 shares of the company’s stock, valued at $1,187,734.40. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 31,006 shares of company stock valued at $2,694,849. Corporate insiders own 0.90% of the company’s stock.

Hedge Funds Weigh In On Crown

Institutional investors and hedge funds have recently bought and sold shares of the company. SG Americas Securities LLC purchased a new stake in shares of Crown during the 3rd quarter valued at approximately $1,203,000. Sanctuary Advisors LLC purchased a new stake in Crown in the second quarter valued at $457,000. Maven Securities LTD acquired a new position in shares of Crown in the 2nd quarter valued at $744,000. Clearbridge Investments LLC grew its holdings in shares of Crown by 7.1% during the 2nd quarter. Clearbridge Investments LLC now owns 1,677,752 shares of the industrial products company’s stock worth $124,808,000 after purchasing an additional 111,589 shares during the period. Finally, Point72 Asset Management L.P. increased its position in shares of Crown by 38.2% during the 2nd quarter. Point72 Asset Management L.P. now owns 51,070 shares of the industrial products company’s stock worth $3,799,000 after purchasing an additional 14,104 shares during the last quarter. 90.93% of the stock is currently owned by institutional investors and hedge funds.

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.