Analysts Set Crown Holdings, Inc. (NYSE:CCK) Target Price at $117.55

Crown Holdings, Inc. (NYSE:CCK) has been assigned a consensus rating of “Moderate Buy” from the eleven brokerages that are currently covering the stock, Marketbeat.com reports. Two equities research analysts have rated the stock with a hold recommendation and nine have given a buy recommendation to the company. The average 1-year price target among brokers that have issued a report on the stock in the last year is $119.09.

CCK has been the subject of several research analyst reports. Citigroup lifted their price objective on Crown from $119.00 to $129.00 and gave the company a “buy” rating in a research note on Thursday, July 3rd. UBS Group lifted their price objective on Crown from $114.00 to $125.00 and gave the company a “buy” rating in a research note on Wednesday, July 9th. Barclays lifted their price objective on Crown from $109.00 to $117.00 and gave the company an “overweight” rating in a research note on Wednesday, April 30th. Truist Financial lifted their price target on Crown from $110.00 to $117.00 and gave the stock a “hold” rating in a research note on Friday, July 11th. Finally, Wall Street Zen raised Crown from a “buy” rating to a “strong-buy” rating in a research note on Saturday, June 28th.

Crown Price Performance

Crown stock opened at $106.48 on Monday. The firm has a market capitalization of $12.39 billion, a P/E ratio of 22.90, a PEG ratio of 1.73 and a beta of 0.76. Crown has a one year low of $75.98 and a one year high of $109.48. The business has a fifty day moving average price of $101.71 and a 200-day moving average price of $92.23. The company has a debt-to-equity ratio of 1.50, a current ratio of 0.87 and a quick ratio of 0.56.

Crown (NYSE:CCK) last posted its quarterly earnings data on Monday, April 28th. The industrial products company reported $1.67 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.22 by $0.45. The company had revenue of $2.89 billion during the quarter, compared to analyst estimates of $2.82 billion. Crown had a return on equity of 26.98% and a net margin of 4.62%. The firm’s quarterly revenue was up 3.7% on a year-over-year basis. During the same quarter last year, the company earned $1.02 earnings per share. As a group, equities research analysts forecast that Crown will post 6.96 EPS for the current year.

Crown Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, May 29th. Stockholders of record on Thursday, May 15th were issued a $0.26 dividend. The ex-dividend date was Thursday, May 15th. This represents a $1.04 annualized dividend and a dividend yield of 0.98%. Crown’s dividend payout ratio is currently 22.37%.

Insider Activity

In other news, COO Gerard H. Gifford sold 7,000 shares of Crown stock in a transaction dated Friday, May 2nd. The stock was sold at an average price of $97.00, for a total value of $679,000.00. Following the transaction, the chief operating officer owned 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 filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP Christy L. Kalaus sold 2,130 shares of the business’s stock in a transaction dated Friday, May 16th. The shares were sold at an average price of $99.41, for a total value of $211,743.30. Following the transaction, the vice president owned 4,500 shares in the company, valued at approximately $447,345. This represents a 32.13% decrease in their position. The disclosure for this sale can be found here. 0.90% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the business. Bank of New York Mellon Corp increased its holdings in Crown by 5.6% during 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 purchasing an additional 167,252 shares during the period. AQR Capital Management LLC boosted its position in Crown by 3.7% during the 1st quarter. AQR Capital Management LLC now owns 1,768,476 shares of the industrial products company’s stock valued at $156,988,000 after acquiring an additional 63,395 shares in the last quarter. Invesco Ltd. boosted its position in Crown by 412.2% during the 1st quarter. Invesco Ltd. now owns 1,719,296 shares of the industrial products company’s stock valued at $153,464,000 after acquiring an additional 1,383,624 shares in the last quarter. Dimensional Fund Advisors LP boosted its position in Crown by 5.4% during the 1st quarter. Dimensional Fund Advisors LP now owns 1,637,155 shares of the industrial products company’s stock valued at $146,117,000 after acquiring an additional 83,523 shares in the last quarter. Finally, Swedbank AB boosted its position in Crown by 5.0% during the 2nd quarter. Swedbank AB now owns 1,550,525 shares of the industrial products company’s stock valued at $159,673,000 after acquiring an additional 73,959 shares in the last quarter. Hedge funds and other 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.