Crown’s (CCK) Hold Rating Reiterated at Truist Financial

Truist Financial reiterated their hold rating on shares of Crown (NYSE:CCK) in a research report released on Wednesday morning, MarketBeat.com reports. They currently have a $88.00 price objective on the industrial products company’s stock, down from their prior price objective of $100.00.

Several other research firms also recently issued reports on CCK. Royal Bank of Canada cut their price objective on Crown from $110.00 to $97.00 and set an outperform rating on the stock in a report on Thursday, February 8th. Morgan Stanley initiated coverage on Crown in a report on Monday, March 18th. They set an equal weight rating and a $87.00 price objective on the stock. UBS Group initiated coverage on Crown in a report on Tuesday, January 16th. They set a buy rating and a $112.00 price objective on the stock. Robert W. Baird restated a neutral rating and set a $90.00 price objective on shares of Crown in a report on Tuesday, February 6th. Finally, JPMorgan Chase & Co. upgraded Crown from a neutral rating to an overweight rating and set a $85.00 price objective on the stock in a report on Wednesday, February 7th. Five analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Crown presently has an average rating of Moderate Buy and a consensus target price of $99.36.

Crown Price Performance

Shares of NYSE CCK opened at $79.26 on Wednesday. The company has a quick ratio of 0.77, a current ratio of 1.15 and a debt-to-equity ratio of 2.34. The firm’s 50-day simple moving average is $79.29 and its 200 day simple moving average is $83.95. Crown has a fifty-two week low of $69.61 and a fifty-two week high of $96.35. The stock has a market cap of $9.57 billion, a P/E ratio of 21.08, a P/E/G ratio of 2.64 and a beta of 0.91.

Crown (NYSE:CCK) last issued its quarterly earnings results on Tuesday, February 6th. The industrial products company reported $1.24 EPS for the quarter, missing the consensus estimate of $1.43 by ($0.19). Crown had a return on equity of 25.75% and a net margin of 3.75%. The business had revenue of $2.86 billion during the quarter, compared to the consensus estimate of $2.96 billion. During the same quarter last year, the firm posted $1.17 earnings per share. Crown’s revenue was down 5.1% compared to the same quarter last year. Equities analysts expect that Crown will post 5.95 EPS for the current year.

Crown Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, March 28th. Investors of record on Thursday, March 14th were paid a $0.25 dividend. This is a boost from Crown’s previous quarterly dividend of $0.24. The ex-dividend date of this dividend was Wednesday, March 13th. This represents a $1.00 annualized dividend and a dividend yield of 1.26%. Crown’s payout ratio is presently 26.60%.

Insider Activity at Crown

In other Crown news, CEO Timothy J. Donahue sold 7,500 shares of the stock in a transaction that occurred on Monday, January 8th. The stock was sold at an average price of $90.96, for a total transaction of $682,200.00. Following the transaction, the chief executive officer now owns 651,264 shares in the company, valued at $59,238,973.44. The sale was disclosed in a filing with the SEC, which is available at the SEC website. 0.90% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Crown

Hedge funds have recently modified their holdings of the business. Hudson Bay Capital Management LP boosted its position in shares of Crown by 55.6% in the third quarter. Hudson Bay Capital Management LP now owns 70,000 shares of the industrial products company’s stock valued at $6,194,000 after acquiring an additional 25,000 shares during the period. Wellington Management Group LLP boosted its position in shares of Crown by 4.1% in the third quarter. Wellington Management Group LLP now owns 504,720 shares of the industrial products company’s stock valued at $44,658,000 after acquiring an additional 19,666 shares during the period. SeaTown Holdings Pte. Ltd. boosted its position in shares of Crown by 19.6% in the third quarter. SeaTown Holdings Pte. Ltd. now owns 86,100 shares of the industrial products company’s stock valued at $7,618,000 after acquiring an additional 14,100 shares during the period. DB Fitzpatrick & Co Inc boosted its position in shares of Crown by 0.9% in the third quarter. DB Fitzpatrick & Co Inc now owns 16,258 shares of the industrial products company’s stock valued at $1,439,000 after acquiring an additional 142 shares during the period. Finally, Comerica Bank bought a new position in Crown in the third quarter worth $5,019,000. 90.93% of the stock is owned by institutional investors.

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.