Analysts Set Crown Holdings, Inc. (NYSE:CCK) Target Price at $106.62

Shares of Crown Holdings, Inc. (NYSE:CCK) have received a consensus recommendation of “Moderate Buy” from the thirteen analysts that are currently covering the stock, MarketBeat reports. Three equities research analysts have rated the stock with a hold recommendation and ten have given a buy recommendation to the company. The average 12-month target price among analysts that have issued a report on the stock in the last year is $106.62.

A number of analysts recently commented on the stock. Bank of America upped their price target on shares of Crown from $98.00 to $102.00 and gave the company a “buy” rating in a research note on Wednesday, July 24th. Barclays increased their target price on Crown from $100.00 to $112.00 and gave the stock an “overweight” rating in a research report on Monday, October 21st. Morgan Stanley lifted their price target on Crown from $105.00 to $109.00 and gave the company an “equal weight” rating in a research report on Monday, October 21st. Royal Bank of Canada increased their price objective on Crown from $105.00 to $113.00 and gave the stock an “outperform” rating in a report on Wednesday, October 23rd. Finally, Robert W. Baird raised their target price on Crown from $100.00 to $110.00 and gave the stock an “outperform” rating in a research note on Monday, October 21st.

Insiders Place Their Bets

In related news, CEO Timothy J. Donahue sold 7,500 shares of the stock in a transaction on Wednesday, November 6th. The stock was sold at an average price of $96.73, for a total value of $725,475.00. Following the transaction, the chief executive officer now owns 563,678 shares of the company’s stock, valued at $54,524,572.94. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other Crown news, CEO Timothy J. Donahue sold 7,500 shares of the company’s stock in a transaction that occurred on 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 sale, the chief executive officer now owns 563,678 shares of the company’s stock, valued at $54,524,572.94. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, COO Gerard H. Gifford sold 10,000 shares of the stock in a transaction that occurred on Wednesday, October 23rd. The shares were sold at an average price of $95.89, for a total transaction of $958,900.00. Following the transaction, the chief operating officer now owns 114,402 shares in the company, valued at $10,970,007.78. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 33,506 shares of company stock valued at $3,157,399 in the last quarter. Corporate insiders own 0.90% of the company’s stock.

Hedge Funds Weigh In On Crown

A number of large investors have recently added to or reduced their stakes in the business. Jennison Associates LLC grew its stake in shares of Crown by 125.0% during the third quarter. Jennison Associates LLC now owns 1,352,711 shares of the industrial products company’s stock valued at $129,698,000 after buying an additional 751,530 shares during the last quarter. B. Metzler seel. Sohn & Co. Holding AG purchased a new stake in Crown during the 3rd quarter valued at about $533,000. Quest Partners LLC grew its position in Crown by 3,676.8% during the 3rd quarter. Quest Partners LLC now owns 9,593 shares of the industrial products company’s stock worth $920,000 after acquiring an additional 9,339 shares during the last quarter. Claro Advisors LLC purchased a new position in Crown in the 3rd quarter worth approximately $266,000. Finally, Chesapeake Capital Corp IL purchased a new position in Crown in the 3rd quarter worth approximately $1,110,000. Hedge funds and other institutional investors own 90.93% of the company’s stock.

Crown Price Performance

NYSE CCK opened at $93.40 on Wednesday. The company has a quick ratio of 0.84, a current ratio of 1.21 and a debt-to-equity ratio of 2.19. The company has a market cap of $11.17 billion, a PE ratio of 115.30, a price-to-earnings-growth ratio of 2.06 and a beta of 0.85. Crown has a 52 week low of $69.61 and a 52 week high of $98.46. The firm’s 50-day simple moving average is $93.43 and its two-hundred day simple moving average is $86.10.

Crown Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, November 27th. Shareholders of record on Thursday, November 14th will be given a dividend of $0.25 per share. The ex-dividend date is Thursday, November 14th. This represents a $1.00 annualized dividend and a yield of 1.07%. Crown’s payout ratio is presently 123.46%.

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.