Morgan Stanley Boosts Crown (NYSE:CCK) Price Target to $109.00

Crown (NYSE:CCK) had its price target increased by Morgan Stanley from $105.00 to $109.00 in a report issued on Monday, Benzinga reports. The firm currently has an equal weight rating on the industrial products company’s stock.

Other equities analysts have also issued research reports about the stock. StockNews.com raised shares of Crown from a “hold” rating to a “buy” rating in a research report on Tuesday, October 15th. Truist Financial boosted their target price on shares of Crown from $95.00 to $103.00 and gave the stock a “hold” rating in a research report on Tuesday, October 15th. UBS Group dropped their price objective on Crown from $112.00 to $91.00 and set a “buy” rating on the stock in a research note on Wednesday, July 17th. Bank of America increased their target price on Crown from $98.00 to $102.00 and gave the company a “buy” rating in a research note on Wednesday, July 24th. Finally, Barclays lifted their price target on Crown from $100.00 to $112.00 and gave the stock an “overweight” rating in a research report on Monday. Three investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. Based on data from MarketBeat.com, Crown has an average rating of “Moderate Buy” and a consensus price target of $106.62.

Crown Trading Down 0.7 %

Shares of NYSE:CCK opened at $95.24 on Monday. 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 stock has a market capitalization of $11.50 billion, a PE ratio of 27.45, a P/E/G ratio of 2.19 and a beta of 0.86. Crown has a 1 year low of $69.61 and a 1 year high of $98.46. The firm has a fifty day moving average price of $92.40 and a 200 day moving average price of $84.87.

Crown (NYSE:CCK) last issued its quarterly earnings data on Monday, July 22nd. The industrial products company reported $1.81 EPS for the quarter, beating analysts’ consensus estimates of $1.59 by $0.22. Crown had a return on equity of 23.96% and a net margin of 3.68%. The business had revenue of $3.04 billion for the quarter, compared to analyst estimates of $3.06 billion. During the same quarter in the prior year, the firm posted $1.68 EPS. The firm’s revenue for the quarter was down 2.2% on a year-over-year basis. Analysts expect that Crown will post 6.15 EPS for the current fiscal year.

Crown Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, November 27th. Investors of record on Thursday, November 14th will be given a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 1.05%. Crown’s dividend payout ratio (DPR) is presently 28.82%.

Insiders Place Their Bets

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 directly 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 filing with the SEC, which is accessible through the SEC website. In other Crown news, CEO Timothy J. Donahue sold 7,500 shares of the company’s stock in a transaction 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 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 ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, COO Gerard H. Gifford sold 10,000 shares of Crown stock in a transaction on Wednesday, October 23rd. The shares were sold at an average price of $95.89, for a total value of $958,900.00. Following the transaction, the chief operating officer now directly owns 114,402 shares of the company’s stock, valued at approximately $10,970,007.78. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 33,506 shares of company stock worth $3,075,799 over the last quarter. Company insiders own 0.90% of the company’s stock.

Institutional Trading of Crown

Hedge funds have recently modified their holdings of the company. Mather Group LLC. acquired a new stake in Crown during the 1st quarter valued at $32,000. Trivant Custom Portfolio Group LLC bought a new position in shares of Crown in the first quarter valued at about $43,000. State of Michigan Retirement System lifted its position in Crown by 1.7% during the 1st quarter. State of Michigan Retirement System now owns 29,400 shares of the industrial products company’s stock worth $2,330,000 after buying an additional 500 shares in the last quarter. Principal Financial Group Inc. grew its holdings in Crown by 1.7% during the 1st quarter. Principal Financial Group Inc. now owns 449,670 shares of the industrial products company’s stock worth $35,641,000 after acquiring an additional 7,651 shares during the last quarter. Finally, TFC Financial Management Inc. increased its position in Crown by 50.5% in the 1st quarter. TFC Financial Management Inc. now owns 1,385 shares of the industrial products company’s stock valued at $110,000 after acquiring an additional 465 shares in the last quarter. Institutional investors and hedge funds own 90.93% of the company’s stock.

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.