Crown (NYSE:CCK) Downgraded by StockNews.com

StockNews.com lowered shares of Crown (NYSE:CCK) from a buy rating to a hold rating in a research note released on Monday.

Several other research firms have also recently issued reports on CCK. Truist Financial boosted their target price on Crown from $88.00 to $95.00 and gave the stock a hold rating in a research report on Wednesday, July 24th. Royal Bank of Canada raised their target price on Crown from $96.00 to $105.00 and gave the company an outperform rating in a report on Friday, July 26th. Citigroup upped their price target on shares of Crown from $94.00 to $100.00 and gave the stock a buy rating in a research note on Thursday, July 25th. Loop Capital raised their price objective on shares of Crown from $106.00 to $120.00 and gave the company a buy rating in a research note on Wednesday, July 24th. Finally, Wells Fargo & Company increased their target price on shares of Crown from $85.00 to $88.00 and gave the company an equal weight rating in a report on Wednesday, July 24th. Four equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. According to MarketBeat.com, Crown has an average rating of Moderate Buy and a consensus target price of $101.14.

Crown Trading Up 0.2 %

Shares of CCK stock opened at $90.15 on Monday. Crown has a twelve month low of $69.61 and a twelve month high of $93.79. The company has a current ratio of 1.05, a quick ratio of 0.73 and a debt-to-equity ratio of 2.00. The business’s 50 day moving average is $84.72 and its two-hundred day moving average is $81.32. The company has a market capitalization of $10.89 billion, a P/E ratio of 25.98, a price-to-earnings-growth ratio of 2.16 and a beta of 0.85.

Crown (NYSE:CCK) last announced its quarterly earnings data 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. Crown had a net margin of 3.68% and a return on equity of 23.96%. The company had revenue of $3.04 billion for the quarter, compared to analysts’ expectations of $3.06 billion. During the same period in the previous year, the company posted $1.68 EPS. Crown’s revenue was down 2.2% compared to the same quarter last year. Equities analysts forecast that Crown will post 6.15 EPS for the current year.

Crown Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, August 29th. Investors of record on Thursday, August 15th were paid a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 1.11%. The ex-dividend date was Thursday, August 15th. Crown’s payout ratio is 28.82%.

Insider Activity at Crown

In other news, CEO Timothy J. Donahue sold 15,000 shares of Crown stock in a transaction dated Tuesday, July 23rd. The shares were sold at an average price of $85.03, for a total transaction of $1,275,450.00. Following the completion of the sale, the chief executive officer now directly owns 593,678 shares in the company, valued at $50,480,440.34. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In other Crown news, CEO Timothy J. Donahue sold 7,500 shares of Crown stock in a transaction dated Friday, September 6th. The stock was sold at an average price of $90.58, for a total value of $679,350.00. Following the completion of the sale, the chief executive officer now owns 578,678 shares in the company, valued at approximately $52,416,653.24. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Timothy J. Donahue sold 15,000 shares of the stock in a transaction dated Tuesday, July 23rd. The stock was sold at an average price of $85.03, for a total transaction of $1,275,450.00. Following the transaction, the chief executive officer now owns 593,678 shares in the company, valued at $50,480,440.34. The disclosure for this sale can be found here. In the last quarter, insiders sold 30,000 shares of company stock valued at $2,598,675. 0.90% of the stock is owned by insiders.

Hedge Funds Weigh In On Crown

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Rise Advisors LLC purchased a new stake in shares of Crown during the 1st quarter valued at $27,000. Quest Partners LLC purchased a new stake in Crown during the fourth quarter valued at about $34,000. Mather Group LLC. acquired a new stake in Crown during the first quarter worth about $32,000. Quarry LP raised its holdings in shares of Crown by 190.3% in the 4th quarter. Quarry LP now owns 421 shares of the industrial products company’s stock worth $39,000 after purchasing an additional 276 shares during the period. Finally, EntryPoint Capital LLC acquired a new position in shares of Crown in the 1st quarter valued at about $41,000. Institutional investors and hedge funds own 90.93% of the company’s stock.

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.