Analysts Set Crown Holdings, Inc. (NYSE:CCK) Price Target at $106.00

Shares of Crown Holdings, Inc. (NYSE:CCK) have been given an average recommendation of “Moderate Buy” by the twelve ratings firms that are presently covering the stock, Marketbeat.com reports. Two 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 brokerages that have issued a report on the stock in the last year is $106.00.

CCK has been the subject of several recent analyst reports. StockNews.com raised shares of Crown from a “hold” rating to a “buy” rating in a research note on Friday, February 7th. UBS Group lowered their price target on shares of Crown from $113.00 to $108.00 and set a “buy” rating on the stock in a research note on Friday, January 10th. Royal Bank of Canada increased their price target on Crown from $113.00 to $115.00 and gave the company an “outperform” rating in a research report on Friday, February 7th. Barclays lowered their price target on Crown from $112.00 to $109.00 and set an “overweight” rating on the stock in a research report on Monday, February 10th. Finally, Morgan Stanley raised Crown from an “equal weight” rating to an “overweight” rating and cut their price objective for the company from $109.00 to $105.00 in a report on Monday, January 13th.

Hedge Funds Weigh In On Crown

Several institutional investors and hedge funds have recently modified their holdings of the stock. FMR LLC increased its holdings in shares of Crown by 9.3% in the third quarter. FMR LLC now owns 8,787,606 shares of the industrial products company’s stock valued at $842,556,000 after purchasing an additional 749,085 shares during the last quarter. Victory Capital Management Inc. grew its stake in shares of Crown by 1.8% in the fourth quarter. Victory Capital Management Inc. now owns 5,779,691 shares of the industrial products company’s stock valued at $477,923,000 after acquiring an additional 102,789 shares in the last quarter. State Street Corp grew its stake in shares of Crown by 1.8% in the third quarter. State Street Corp now owns 4,000,402 shares of the industrial products company’s stock valued at $383,559,000 after acquiring an additional 69,260 shares in the last quarter. Pacer Advisors Inc. grew its stake in shares of Crown by 10,138.8% in the fourth quarter. Pacer Advisors Inc. now owns 3,105,118 shares of the industrial products company’s stock valued at $256,762,000 after acquiring an additional 3,074,791 shares in the last quarter. Finally, Bank of New York Mellon Corp grew its stake in shares of Crown by 10.5% in the fourth quarter. Bank of New York Mellon Corp now owns 2,967,810 shares of the industrial products company’s stock valued at $245,408,000 after acquiring an additional 283,014 shares in the last quarter. 90.93% of the stock is currently owned by institutional investors and hedge funds.

Crown Price Performance

Shares of CCK stock opened at $86.99 on Tuesday. The company has a current ratio of 1.22, a quick ratio of 0.80 and a debt-to-equity ratio of 1.88. The firm has a market capitalization of $10.23 billion, a price-to-earnings ratio of 24.43, a PEG ratio of 1.56 and a beta of 0.88. The firm’s 50 day moving average is $86.62 and its 200-day moving average is $89.55. Crown has a 1 year low of $70.84 and a 1 year high of $98.46.

Crown (NYSE:CCK) last released its earnings results on Wednesday, February 5th. The industrial products company reported $1.59 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.51 by $0.08. Crown had a net margin of 3.59% and a return on equity of 25.12%. Sell-side analysts forecast that Crown will post 6.96 EPS for the current fiscal year.

Crown Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 1st. Shareholders of record on Tuesday, March 18th will be issued a $0.26 dividend. This is an increase from Crown’s previous quarterly dividend of $0.25. This represents a $1.04 annualized dividend and a dividend yield of 1.20%. The ex-dividend date is Tuesday, March 18th. Crown’s payout ratio is currently 29.21%.

Crown Company Profile

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.