Crown (NYSE:CCK) Price Target Cut to $100.00 by Analysts at Mizuho

Crown (NYSE:CCK) had its target price cut by Mizuho from $110.00 to $100.00 in a report released on Tuesday morning,Benzinga reports. They currently have an outperform rating on the industrial products company’s stock.

Other equities research analysts have also issued research reports about the stock. Loop Capital increased their price objective on shares of Crown from $120.00 to $129.00 and gave the company a “buy” rating in a research note on Monday, October 21st. Truist Financial increased their price target on Crown from $103.00 to $104.00 and gave the company a “hold” rating in a research report on Monday. Bank of America cut their price objective on Crown from $107.00 to $101.00 and set a “buy” rating on the stock in a research report on Monday. Royal Bank of Canada raised their target price on Crown from $105.00 to $113.00 and gave the company an “outperform” rating in a research report on Wednesday, October 23rd. Finally, Citigroup boosted their price target on shares of Crown from $110.00 to $111.00 and gave the stock a “buy” rating in a report on Monday. Three equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. According to data from MarketBeat, Crown presently has an average rating of “Moderate Buy” and a consensus price target of $104.62.

Crown Stock Up 0.2 %

CCK stock opened at $80.27 on Tuesday. The stock’s 50 day moving average is $88.54 and its 200-day moving average is $87.79. Crown has a twelve month low of $69.61 and a twelve month high of $98.46. The firm has a market capitalization of $9.60 billion, a PE ratio of 99.10, a P/E/G ratio of 1.95 and a beta of 0.86. The company has a quick ratio of 0.84, a current ratio of 1.21 and a debt-to-equity ratio of 2.19.

Crown (NYSE:CCK) last issued its quarterly earnings data on Thursday, October 17th. The industrial products company reported $1.99 earnings per share for the quarter, beating the consensus estimate of $1.81 by $0.18. Crown had a return on equity of 24.57% and a net margin of 0.83%. The business had revenue of $3.07 billion for the quarter, compared to analysts’ expectations of $3.07 billion. Sell-side analysts expect that Crown will post 6.34 EPS for the current fiscal year.

Crown Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, November 27th. Stockholders of record on Thursday, November 14th were given a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 1.25%. The ex-dividend date of this dividend was Thursday, November 14th. Crown’s dividend payout ratio (DPR) is currently 123.46%.

Insider Buying and Selling

In related news, COO Gerard H. Gifford sold 10,000 shares of the business’s stock in a transaction on Wednesday, October 23rd. The stock was sold at an average price of $95.89, for a total transaction of $958,900.00. Following the sale, the chief operating officer now directly owns 114,402 shares in the company, valued at approximately $10,970,007.78. The trade was a 8.04 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Timothy J. Donahue sold 7,500 shares of the firm’s stock in a transaction dated Wednesday, November 6th. The stock was sold at an average price of $96.73, for a total value of $725,475.00. Following the completion of the transaction, the chief executive officer now owns 563,678 shares of the company’s stock, valued at approximately $54,524,572.94. This represents a 1.31 % decrease in their position. The disclosure for this sale can be found here. 0.90% of the stock is owned by insiders.

Institutional Trading of Crown

Hedge funds and other institutional investors have recently bought and sold shares of the company. Sessa Capital IM L.P. grew its position in shares of Crown by 153.0% during the 2nd quarter. Sessa Capital IM L.P. now owns 3,289,374 shares of the industrial products company’s stock valued at $244,697,000 after purchasing an additional 1,989,374 shares in the last quarter. Metropolis Capital Ltd boosted its stake in Crown by 269.7% during the third quarter. Metropolis Capital Ltd now owns 1,455,752 shares of the industrial products company’s stock valued at $139,578,000 after buying an additional 1,062,001 shares during the period. Jennison Associates LLC grew its position in Crown by 125.0% during the third quarter. Jennison Associates LLC now owns 1,352,711 shares of the industrial products company’s stock worth $129,698,000 after buying an additional 751,530 shares in the last quarter. FMR LLC increased its stake in Crown by 9.3% in the 3rd quarter. FMR LLC now owns 8,787,606 shares of the industrial products company’s stock worth $842,556,000 after acquiring an additional 749,085 shares during the last quarter. Finally, 1832 Asset Management L.P. boosted its position in shares of Crown by 31.5% during the 2nd quarter. 1832 Asset Management L.P. now owns 1,976,500 shares of the industrial products company’s stock valued at $147,032,000 after acquiring an additional 473,000 shares during the last quarter. Institutional investors own 90.93% of the company’s stock.

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.