Crown (NYSE:CCK) Given New $90.00 Price Target at JPMorgan Chase & Co.

Crown (NYSE:CCK) had its price target increased by JPMorgan Chase & Co. from $85.00 to $90.00 in a report released on Wednesday, Benzinga reports. They currently have an overweight rating on the industrial products company’s stock.

Several other research firms also recently weighed in on CCK. Wells Fargo & Company dropped their target price on shares of Crown from $78.00 to $76.00 and set an equal weight rating for the company in a research report on Thursday, April 11th. Royal Bank of Canada lowered their price objective on Crown from $110.00 to $97.00 and set an outperform rating for the company in a report on Thursday, February 8th. Robert W. Baird increased their target price on Crown from $90.00 to $100.00 and gave the stock an outperform rating in a report on Wednesday. Truist Financial reiterated a hold rating and issued a $88.00 price target (down from $100.00) on shares of Crown in a report on Wednesday, March 27th. Finally, UBS Group began coverage on Crown in a research note on Tuesday, January 16th. They set a buy rating and a $112.00 price objective on the stock. Four research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of Moderate Buy and a consensus target price of $99.29.

Crown Stock Performance

Shares of NYSE:CCK opened at $82.45 on Wednesday. The company has a market cap of $9.96 billion, a P/E ratio of 23.76, a PEG ratio of 2.78 and a beta of 0.88. Crown has a one year low of $69.61 and a one year high of $96.35. The business’s 50-day simple moving average is $78.16 and its 200 day simple moving average is $82.63. The company has a debt-to-equity ratio of 2.26, a quick ratio of 0.77 and a current ratio of 1.19.

Crown (NYSE:CCK) last issued its quarterly earnings data on Monday, April 29th. The industrial products company reported $1.02 EPS for the quarter, topping analysts’ consensus estimates of $0.96 by $0.06. Crown had a net margin of 3.51% and a return on equity of 23.95%. The firm had revenue of $2.78 billion for the quarter, compared to analyst estimates of $2.93 billion. During the same quarter in the previous year, the business posted $1.20 EPS. The firm’s revenue was down 6.4% compared to the same quarter last year. On average, sell-side analysts forecast that Crown will post 5.92 earnings per share for the current fiscal year.

Crown Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, June 27th. Shareholders of record on Thursday, June 13th will be paid a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 1.21%. The ex-dividend date of this dividend is Thursday, June 13th. Crown’s payout ratio is currently 28.82%.

Insider Transactions at Crown

In other news, CEO Timothy J. Donahue sold 22,500 shares of the company’s stock in a transaction on Tuesday, April 30th. The stock was sold at an average price of $85.18, for a total transaction of $1,916,550.00. Following the completion of the sale, the chief executive officer now directly owns 616,178 shares of the company’s stock, valued at $52,486,042.04. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Corporate insiders own 0.90% of the company’s stock.

Institutional Trading of Crown

Hedge funds have recently modified their holdings of the business. Vanguard Group Inc. boosted its holdings in shares of Crown by 1.5% during the fourth quarter. Vanguard Group Inc. now owns 11,825,703 shares of the industrial products company’s stock worth $1,089,029,000 after purchasing an additional 173,460 shares during the period. Victory Capital Management Inc. grew its holdings in Crown by 7.3% during the fourth quarter. Victory Capital Management Inc. now owns 5,136,706 shares of the industrial products company’s stock valued at $473,039,000 after purchasing an additional 350,265 shares during the last quarter. FMR LLC lifted its stake in shares of Crown by 8.6% in the third quarter. FMR LLC now owns 3,776,097 shares of the industrial products company’s stock worth $334,109,000 after buying an additional 298,766 shares during the last quarter. Massachusetts Financial Services Co. MA boosted its holdings in shares of Crown by 7.9% during the 4th quarter. Massachusetts Financial Services Co. MA now owns 2,536,995 shares of the industrial products company’s stock worth $233,632,000 after buying an additional 186,387 shares during the period. Finally, Toronto Dominion Bank grew its stake in Crown by 41.9% in the 3rd quarter. Toronto Dominion Bank now owns 2,213,904 shares of the industrial products company’s stock valued at $195,886,000 after buying an additional 654,082 shares during 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.