Crown (NYSE:CCK) Price Target Increased to $113.00 by Analysts at Royal Bank of Canada

Crown (NYSE:CCK) had its price target increased by Royal Bank of Canada from $105.00 to $113.00 in a research note issued to investors on Wednesday, Benzinga reports. They currently have an outperform rating on the industrial products company’s stock.

Several other brokerages have also recently issued reports on CCK. Mizuho set a $110.00 target price on shares of Crown in a research note on Friday, October 18th. Bank of America lifted their target price on shares of Crown from $98.00 to $102.00 and gave the stock a “buy” rating in a research note on Wednesday, July 24th. UBS Group lowered their price target on shares of Crown from $112.00 to $91.00 and set a “buy” rating on the stock in a research report on Wednesday, July 17th. Loop Capital boosted their price target on shares of Crown from $120.00 to $129.00 and gave the company a “buy” rating in a research report on Monday, October 21st. Finally, StockNews.com raised shares of Crown from a “hold” rating to a “buy” rating in a research report on Tuesday, October 15th. Three investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $106.62.

Crown Trading Down 1.6 %

Shares of CCK opened at $93.70 on Wednesday. Crown has a 52-week low of $69.61 and a 52-week high of $98.46. The company has a quick ratio of 0.73, a current ratio of 1.05 and a debt-to-equity ratio of 2.00. The firm’s fifty day moving average is $92.52 and its two-hundred day moving average is $85.02. The stock has a market cap of $11.31 billion, a PE ratio of 27.00, a price-to-earnings-growth ratio of 2.19 and a beta of 0.86.

Crown Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 27th. Investors of record on Thursday, November 14th will be issued a $0.25 dividend. The ex-dividend date of this dividend is Thursday, November 14th. This represents a $1.00 annualized dividend and a yield of 1.07%. Crown’s dividend payout ratio (DPR) is currently 28.82%.

Insider Activity at Crown

In related news, Director James H. Miller sold 1,006 shares of the business’s stock in a transaction dated Monday, September 23rd. The shares were sold at an average price of $95.60, for a total value of $96,173.60. Following the sale, the director now directly owns 12,424 shares in the company, valued at approximately $1,187,734.40. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In other Crown news, Director James H. Miller sold 1,006 shares of the business’s stock in a transaction dated Monday, September 23rd. The shares were sold at an average price of $95.60, for a total transaction of $96,173.60. Following the sale, the director now directly owns 12,424 shares in the company, valued at $1,187,734.40. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Timothy J. Donahue sold 7,500 shares of the business’s 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 sale, the chief executive officer now owns 586,178 shares in the company, valued at $50,323,381.30. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 33,506 shares of company stock worth $3,075,799. Company insiders own 0.90% of the company’s stock.

Institutional Trading of Crown

A number of institutional investors and hedge funds have recently bought and sold shares of the business. First Trust Direct Indexing L.P. purchased a new stake in Crown during the third quarter worth about $263,000. abrdn plc purchased a new stake in shares of Crown during the third quarter worth approximately $321,000. Pallas Capital Advisors LLC purchased a new stake in shares of Crown during the third quarter worth approximately $875,000. State of Alaska Department of Revenue increased its stake in shares of Crown by 6.3% during the third quarter. State of Alaska Department of Revenue now owns 13,845 shares of the industrial products company’s stock worth $1,327,000 after buying an additional 815 shares during the period. Finally, DekaBank Deutsche Girozentrale increased its stake in shares of Crown by 2.0% during the third quarter. DekaBank Deutsche Girozentrale now owns 9,477 shares of the industrial products company’s stock worth $894,000 after buying an additional 183 shares during the period. 90.93% of the stock is currently owned by hedge funds and other 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.