Crown (NYSE:CCK) Upgraded at Wall Street Zen

Wall Street Zen upgraded shares of Crown (NYSE:CCK) from a hold rating to a buy rating in a research note published on Sunday.

CCK has been the subject of several other reports. Weiss Ratings reissued a “buy (b)” rating on shares of Crown in a research note on Monday, December 29th. Truist Financial increased their price target on shares of Crown from $126.00 to $130.00 and gave the company a “buy” rating in a research note on Tuesday, January 6th. Mizuho boosted their price objective on shares of Crown from $116.00 to $120.00 and gave the stock an “outperform” rating in a research note on Tuesday, October 21st. Wells Fargo & Company upped their target price on shares of Crown from $99.00 to $106.00 and gave the company an “equal weight” rating in a report on Tuesday, January 6th. Finally, Citigroup reduced their price target on Crown from $135.00 to $124.00 and set a “buy” rating for the company in a report on Monday, September 29th. Twelve analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $119.62.

Crown Trading Down 2.5%

NYSE:CCK opened at $101.61 on Friday. The company has a market cap of $11.72 billion, a P/E ratio of 12.58, a price-to-earnings-growth ratio of 1.20 and a beta of 0.75. Crown has a twelve month low of $75.98 and a twelve month high of $109.48. The business has a 50 day moving average price of $100.39 and a two-hundred day moving average price of $99.23. The company has a quick ratio of 0.76, a current ratio of 1.16 and a debt-to-equity ratio of 1.65.

Crown (NYSE:CCK) last issued its quarterly earnings results on Monday, October 20th. The industrial products company reported $2.24 EPS for the quarter, beating the consensus estimate of $1.98 by $0.26. The firm had revenue of $3.20 billion during the quarter, compared to analysts’ expectations of $3.13 billion. Crown had a return on equity of 26.86% and a net margin of 7.79%.The business’s quarterly revenue was up 4.2% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.99 earnings per share. As a group, analysts expect that Crown will post 6.96 EPS for the current fiscal year.

Crown Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, November 20th. Stockholders of record on Thursday, November 6th were issued a dividend of $0.26 per share. The ex-dividend date of this dividend was Thursday, November 6th. This represents a $1.04 dividend on an annualized basis and a dividend yield of 1.0%. Crown’s dividend payout ratio (DPR) is currently 12.87%.

Insider Transactions at Crown

In other Crown news, COO Djalma Novaes, Jr. sold 19,754 shares of Crown stock in a transaction dated Tuesday, December 16th. The shares were sold at an average price of $101.02, for a total value of $1,995,549.08. Following the completion of the sale, the chief operating officer owned 96,841 shares in the company, valued at $9,782,877.82. The trade was a 16.94% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Timothy J. Donahue sold 29,024 shares of the business’s stock in a transaction dated Monday, January 5th. The shares were sold at an average price of $105.00, for a total transaction of $3,047,520.00. Following the completion of the sale, the chief executive officer directly owned 411,556 shares of the company’s stock, valued at $43,213,380. This represents a 6.59% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders sold 57,254 shares of company stock valued at $5,933,134. 0.90% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Crown

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Harbor Capital Advisors Inc. grew its position in Crown by 103.1% during the third quarter. Harbor Capital Advisors Inc. now owns 264 shares of the industrial products company’s stock worth $25,000 after buying an additional 134 shares in the last quarter. Smartleaf Asset Management LLC lifted its position in shares of Crown by 105.0% during the 3rd quarter. Smartleaf Asset Management LLC now owns 289 shares of the industrial products company’s stock valued at $28,000 after acquiring an additional 148 shares during the period. Caitong International Asset Management Co. Ltd acquired a new stake in shares of Crown during the 3rd quarter worth $29,000. ORG Partners LLC increased its position in shares of Crown by 52.5% in the fourth quarter. ORG Partners LLC now owns 305 shares of the industrial products company’s stock worth $31,000 after purchasing an additional 105 shares during the period. Finally, Geneos Wealth Management Inc. increased its position in shares of Crown by 45.3% in the first quarter. Geneos Wealth Management Inc. now owns 356 shares of the industrial products company’s stock worth $32,000 after purchasing an additional 111 shares during the period. 90.93% of the stock is currently owned by institutional investors and hedge funds.

Crown Company Profile

Crown Holdings, Inc is a leading global supplier of rigid packaging products for consumer goods markets. The company designs, manufactures and sells metal packaging for beverage, food, household, personal care and specialty products. Its portfolio includes aluminum and steel beverage cans, steel food cans, aluminum aerosols, metal closures and ends, offering customers end-to-end solutions from design and prototyping to large-scale production.

Founded in 1919 as the Crown Cork & Seal Company, Crown has grown through strategic acquisitions and investments in advanced manufacturing technologies.