Brokerages Set Crown Holdings, Inc. (NYSE:CCK) PT at $106.62

Shares of Crown Holdings, Inc. (NYSE:CCK) have received an average rating of “Moderate Buy” from the thirteen ratings firms that are currently covering the firm, MarketBeat Ratings reports. Three equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. The average 1 year price target among analysts that have covered the stock in the last year is $106.62.

Several brokerages recently commented on CCK. Citigroup boosted their price target on Crown from $100.00 to $110.00 and gave the company a “buy” rating in a research note on Wednesday, October 2nd. Morgan Stanley upped their target price on shares of Crown from $105.00 to $109.00 and gave the stock an “equal weight” rating in a report on Monday, October 21st. StockNews.com raised shares of Crown from a “hold” rating to a “buy” rating in a report on Thursday. Loop Capital upped their price objective on shares of Crown from $120.00 to $129.00 and gave the stock a “buy” rating in a research note on Monday, October 21st. Finally, Robert W. Baird lifted their target price on shares of Crown from $100.00 to $110.00 and gave the company an “outperform” rating in a research note on Monday, October 21st.

Insider Buying and Selling at Crown

In related news, COO Gerard H. Gifford sold 10,000 shares of the company’s stock in a transaction dated Wednesday, October 23rd. The stock was sold at an average price of $95.89, for a total value of $958,900.00. Following the completion of the sale, the chief operating officer now owns 114,402 shares in the company, valued at approximately $10,970,007.78. This represents a 8.04 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CEO Timothy J. Donahue sold 7,500 shares of the stock in a transaction dated Wednesday, November 6th. The shares were sold at an average price of $96.73, for a total value of $725,475.00. Following the completion of the transaction, the chief executive officer now directly owns 563,678 shares in the company, valued at $54,524,572.94. The trade was a 1.31 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 25,000 shares of company stock worth $2,381,875. Company insiders own 0.90% of the company’s stock.

Institutional Trading of Crown

Institutional investors and hedge funds have recently modified their holdings of the stock. Franklin Resources Inc. grew its holdings in Crown by 3.6% during the third quarter. Franklin Resources Inc. now owns 941,033 shares of the industrial products company’s stock valued at $87,949,000 after purchasing an additional 32,909 shares during the period. Tidal Investments LLC grew its holdings in shares of Crown by 121.3% in the 3rd quarter. Tidal Investments LLC now owns 21,997 shares of the industrial products company’s stock valued at $2,109,000 after buying an additional 12,058 shares during the period. Wilmington Savings Fund Society FSB increased its position in shares of Crown by 48.3% in the 3rd quarter. Wilmington Savings Fund Society FSB now owns 16,575 shares of the industrial products company’s stock valued at $1,589,000 after buying an additional 5,397 shares in the last quarter. Sanctuary Advisors LLC raised its stake in Crown by 57.5% during the 3rd quarter. Sanctuary Advisors LLC now owns 8,936 shares of the industrial products company’s stock worth $829,000 after buying an additional 3,264 shares during the period. Finally, Virtu Financial LLC bought a new position in Crown during the third quarter worth about $861,000. 90.93% of the stock is owned by institutional investors.

Crown Trading Up 1.0 %

Shares of CCK stock opened at $82.69 on Thursday. The company has a debt-to-equity ratio of 2.19, a quick ratio of 0.84 and a current ratio of 1.21. The firm has a fifty day moving average of $89.68 and a 200-day moving average of $87.62. Crown has a 52-week low of $69.61 and a 52-week high of $98.46. The stock has a market cap of $9.89 billion, a price-to-earnings ratio of 102.09, a P/E/G ratio of 1.95 and a beta of 0.83.

Crown (NYSE:CCK) last announced its quarterly earnings results on Thursday, October 17th. The industrial products company reported $1.99 EPS for the quarter, topping analysts’ consensus estimates of $1.81 by $0.18. The firm had revenue of $3.07 billion during the quarter, compared to analysts’ expectations of $3.07 billion. Crown had a net margin of 0.83% and a return on equity of 24.57%. On average, equities research analysts forecast that Crown will post 6.34 earnings per share for the current fiscal year.

Crown Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, November 27th. Investors of record on Thursday, November 14th were given a $0.25 dividend. The ex-dividend date was Thursday, November 14th. This represents a $1.00 dividend on an annualized basis and a yield of 1.21%. Crown’s payout ratio is 123.46%.

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.