Crown (NYSE:CCK) Given Outperform Rating at Royal Bank of Canada

Royal Bank of Canada reiterated their outperform rating on shares of Crown (NYSE:CCK) in a report released on Tuesday, Benzinga reports. The firm currently has a $105.00 price target on the industrial products company’s stock.

A number of other research analysts have also commented on CCK. Morgan Stanley upped their target price on shares of Crown from $92.00 to $105.00 and gave the company an equal weight rating in a report on Wednesday, September 4th. Truist Financial boosted their price target on Crown from $88.00 to $95.00 and gave the company a hold rating in a research report on Wednesday, July 24th. Citigroup increased their price objective on Crown from $94.00 to $100.00 and gave the stock a buy rating in a research report on Thursday, July 25th. Barclays boosted their target price on Crown from $95.00 to $100.00 and gave the company an overweight rating in a report on Wednesday, July 24th. Finally, StockNews.com cut Crown from a buy rating to a hold rating in a research note on Monday, September 9th. Four 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, the company currently has an average rating of Moderate Buy and an average price target of $101.14.

Crown Stock Down 0.3 %

Crown stock opened at $94.74 on Tuesday. The company has a market capitalization of $11.44 billion, a P/E ratio of 27.30, a PEG ratio of 2.26 and a beta of 0.85. 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 fifty-two week low of $69.61 and a fifty-two week high of $96.74. The stock has a 50-day simple moving average of $89.21 and a 200-day simple moving average of $82.71.

Crown (NYSE:CCK) last posted its quarterly earnings data on Monday, July 22nd. The industrial products company reported $1.81 earnings per share for the quarter, beating the consensus estimate of $1.59 by $0.22. The business had revenue of $3.04 billion during the quarter, compared to the consensus estimate of $3.06 billion. Crown had a return on equity of 23.96% and a net margin of 3.68%. The company’s revenue was down 2.2% compared to the same quarter last year. During the same period in the prior year, the company earned $1.68 earnings per share. Equities research analysts expect that Crown will post 6.15 earnings per share for the current year.

Crown Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, August 29th. Stockholders of record on Thursday, August 15th were given a dividend of $0.25 per share. The ex-dividend date of this dividend was Thursday, August 15th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.06%. Crown’s payout ratio is 28.82%.

Insider Buying and Selling

In other Crown news, CEO Timothy J. Donahue sold 7,500 shares of the business’s stock in a transaction on 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 directly owns 586,178 shares in the company, valued at $50,323,381.30. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other news, CEO Timothy J. Donahue sold 7,500 shares of Crown stock in a transaction on 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 transaction, the chief executive officer now owns 586,178 shares of the company’s stock, valued at approximately $50,323,381.30. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Timothy J. Donahue sold 15,000 shares of the 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 disclosure for this sale can be found here. Insiders have sold a total of 31,006 shares of company stock worth $2,694,849 in the last quarter. Company insiders own 0.90% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the stock. Mutual of America Capital Management LLC increased its position in Crown by 10.3% during the first quarter. Mutual of America Capital Management LLC now owns 153,739 shares of the industrial products company’s stock worth $12,185,000 after buying an additional 14,362 shares in the last quarter. Vanguard Group Inc. boosted its stake in shares of Crown by 1.5% during the fourth quarter. Vanguard Group Inc. now owns 11,825,703 shares of the industrial products company’s stock valued at $1,089,029,000 after acquiring an additional 173,460 shares during the last quarter. Grand Jean Capital Management Inc. increased its position in Crown by 28.8% during the 4th quarter. Grand Jean Capital Management Inc. now owns 140,384 shares of the industrial products company’s stock worth $12,928,000 after purchasing an additional 31,401 shares in the last quarter. Empowered Funds LLC purchased a new position in Crown in the 1st quarter valued at about $6,854,000. Finally, Russell Investments Group Ltd. boosted its stake in shares of Crown by 21.0% during the 1st quarter. Russell Investments Group Ltd. now owns 341,216 shares of the industrial products company’s stock worth $27,045,000 after purchasing an additional 59,267 shares during the last quarter. 90.93% of the stock is currently owned by institutional investors and hedge funds.

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.