Robert W. Baird Raises Crown (NYSE:CCK) Price Target to $110.00

Crown (NYSE:CCK) had its target price increased by Robert W. Baird from $100.00 to $110.00 in a report released on Monday morning, Benzinga reports. Robert W. Baird currently has an outperform rating on the industrial products company’s stock.

Several other research firms have also recently weighed in on CCK. Barclays boosted their price objective on Crown from $95.00 to $100.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 24th. Truist Financial boosted their price objective on Crown from $95.00 to $103.00 and gave the stock a “hold” rating in a research report on Tuesday, October 15th. Wells Fargo & Company boosted their price objective on Crown from $88.00 to $97.00 and gave the stock an “equal weight” rating in a research report on Tuesday, October 15th. Mizuho set a $110.00 price objective on Crown in a research report on Friday, October 18th. Finally, Bank of America boosted their price objective on Crown from $98.00 to $102.00 and gave the stock a “buy” rating in a research report on Wednesday, July 24th. Three equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $106.62.

Crown Trading Down 0.7 %

Shares of Crown stock opened at $95.24 on Monday. The company has a debt-to-equity ratio of 2.00, a quick ratio of 0.73 and a current ratio of 1.05. Crown has a 52 week low of $69.61 and a 52 week high of $98.46. The stock has a 50 day moving average price of $92.40 and a two-hundred day moving average price of $84.87. The stock has a market capitalization of $11.50 billion, a PE ratio of 27.45, a price-to-earnings-growth ratio of 2.19 and a beta of 0.86.

Crown (NYSE:CCK) last announced its earnings results on Monday, July 22nd. The industrial products company reported $1.81 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.59 by $0.22. The company had revenue of $3.04 billion for the quarter, compared to analysts’ expectations of $3.06 billion. Crown had a return on equity of 23.96% and a net margin of 3.68%. Crown’s quarterly revenue was down 2.2% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.68 earnings per share. As a group, equities analysts anticipate that Crown will post 6.15 earnings per share for the current fiscal year.

Crown Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, November 27th. Investors of record on Thursday, November 14th will be issued a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 1.05%. Crown’s dividend payout ratio is presently 28.82%.

Insider Activity at Crown

In related news, CEO Timothy J. Donahue sold 7,500 shares of the stock in a transaction dated Wednesday, August 7th. The stock was sold at an average price of $85.85, for a total transaction of $643,875.00. Following the completion of the sale, the chief executive officer now directly owns 586,178 shares in the company, valued at $50,323,381.30. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. In other news, CEO Timothy J. Donahue sold 7,500 shares of the stock in a transaction that occurred on Wednesday, August 7th. The stock was sold at an average price of $85.85, for a total value of $643,875.00. Following the completion of the transaction, the chief executive officer now owns 586,178 shares of the company’s stock, valued at approximately $50,323,381.30. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, COO Gerard H. Gifford sold 10,000 shares of the stock in a transaction that occurred on 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 transaction, the chief operating officer now directly owns 114,402 shares of the company’s stock, valued at $10,970,007.78. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 33,506 shares of company stock worth $3,075,799 in the last ninety days. 0.90% of the stock is owned by company insiders.

Hedge Funds Weigh In On Crown

A number of institutional investors and hedge funds have recently modified their holdings of CCK. Nisa Investment Advisors LLC raised its holdings in Crown by 6.1% in the 2nd quarter. Nisa Investment Advisors LLC now owns 2,753 shares of the industrial products company’s stock worth $205,000 after purchasing an additional 158 shares during the period. GAMMA Investing LLC raised its holdings in Crown by 110.9% during the third quarter. GAMMA Investing LLC now owns 310 shares of the industrial products company’s stock valued at $30,000 after acquiring an additional 163 shares during the period. Fifth Third Bancorp raised its holdings in Crown by 36.1% during the second quarter. Fifth Third Bancorp now owns 664 shares of the industrial products company’s stock valued at $49,000 after acquiring an additional 176 shares during the period. DekaBank Deutsche Girozentrale raised its holdings in Crown by 2.0% during the third quarter. DekaBank Deutsche Girozentrale now owns 9,477 shares of the industrial products company’s stock valued at $894,000 after acquiring an additional 183 shares during the period. Finally, CIBC Asset Management Inc raised its holdings in Crown by 5.4% during the second quarter. CIBC Asset Management Inc now owns 4,079 shares of the industrial products company’s stock valued at $303,000 after acquiring an additional 209 shares during the period. 90.93% of the stock is currently owned by hedge funds and other institutional investors.

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.