Crown Holdings, Inc. (NYSE:CCK) Receives $106.75 Average PT from Brokerages

Shares of Crown Holdings, Inc. (NYSE:CCK) have received an average rating of “Moderate Buy” from the eleven analysts that are presently covering the firm, Marketbeat reports. Two investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. The average 12 month target price among brokerages that have updated their coverage on the stock in the last year is $110.45.

CCK has been the topic of several recent research reports. Wells Fargo & Company lifted their target price on shares of Crown from $89.00 to $101.00 and gave the company an “equal weight” rating in a research report on Wednesday. Truist Financial lowered their price objective on Crown from $107.00 to $97.00 and set a “hold” rating on the stock in a research note on Tuesday, April 22nd. Citigroup raised their target price on Crown from $110.00 to $111.00 and gave the stock a “buy” rating in a research report on Monday, January 6th. Bank of America lowered their price target on Crown from $107.00 to $101.00 and set a “buy” rating on the stock in a research report on Monday, January 6th. Finally, Mizuho lifted their price objective on Crown from $105.00 to $110.00 and gave the company an “outperform” rating in a report on Tuesday.

Insiders Place Their Bets

In other Crown news, COO Gerard H. Gifford sold 7,000 shares of the company’s stock in a transaction dated Friday, May 2nd. The shares were sold at an average price of $97.00, for a total transaction of $679,000.00. Following the transaction, the chief operating officer now directly owns 135,014 shares in the company, valued at approximately $13,096,358. This represents a 4.93 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Company insiders own 0.90% of the company’s stock.

Hedge Funds Weigh In On Crown

Large investors have recently bought and sold shares of the business. Pacer Advisors Inc. boosted its holdings in Crown by 10,138.8% during the fourth quarter. Pacer Advisors Inc. now owns 3,105,118 shares of the industrial products company’s stock worth $256,762,000 after buying an additional 3,074,791 shares during the last quarter. Norges Bank acquired a new position in Crown during the fourth quarter valued at approximately $113,568,000. Metropolis Capital Ltd increased its stake in Crown by 68.7% in the fourth quarter. Metropolis Capital Ltd now owns 2,456,357 shares of the industrial products company’s stock valued at $203,116,000 after purchasing an additional 1,000,605 shares in the last quarter. Thompson Siegel & Walmsley LLC bought a new position in shares of Crown during the fourth quarter worth $66,732,000. Finally, Vulcan Value Partners LLC grew its holdings in shares of Crown by 450.5% in the 4th quarter. Vulcan Value Partners LLC now owns 823,691 shares of the industrial products company’s stock valued at $68,027,000 after buying an additional 674,072 shares during the period. 90.93% of the stock is currently owned by institutional investors and hedge funds.

Crown Price Performance

Shares of NYSE:CCK opened at $96.98 on Wednesday. The company has a market cap of $11.34 billion, a price-to-earnings ratio of 27.24, a PEG ratio of 1.56 and a beta of 0.79. The business has a 50 day moving average price of $87.93 and a 200 day moving average price of $88.33. The company has a quick ratio of 0.80, a current ratio of 1.22 and a debt-to-equity ratio of 1.88. Crown has a twelve month low of $70.84 and a twelve month high of $98.48.

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, topping the consensus estimate of $1.22 by $0.45. The company had revenue of $2.89 billion for the quarter, compared to the consensus estimate of $2.82 billion. Crown had a net margin of 3.59% and a return on equity of 25.12%. The business’s revenue was up 3.7% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.02 EPS. Research analysts predict that Crown will post 6.96 earnings per share for the current year.

Crown Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, May 29th. Investors of record on Thursday, May 15th will be given a $0.26 dividend. This represents a $1.04 annualized dividend and a yield of 1.07%. The ex-dividend date of this dividend is Thursday, May 15th. Crown’s dividend payout ratio (DPR) is presently 22.37%.

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.