Crown (NYSE:CCK) Downgraded to Hold Rating by StockNews.com

StockNews.com downgraded shares of Crown (NYSE:CCK) from a buy rating to a hold rating in a research note issued to investors on Wednesday morning.

A number of other equities analysts have also weighed in on the stock. Morgan Stanley boosted their price objective on shares of Crown from $105.00 to $109.00 and gave the company an “equal weight” rating in a research report on Monday, October 21st. Mizuho set a $110.00 price target on Crown in a research note on Friday, October 18th. Loop Capital lifted their price objective on Crown from $120.00 to $129.00 and gave the company a “buy” rating in a research report on Monday, October 21st. Truist Financial increased their target price on Crown from $95.00 to $103.00 and gave the stock a “hold” rating in a research report on Tuesday, October 15th. Finally, Citigroup lifted their price target on Crown from $100.00 to $110.00 and gave the company a “buy” rating in a report on Wednesday, October 2nd. Four analysts have rated the stock with a hold rating and ten have given a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $106.62.

Crown Stock Performance

CCK opened at $83.19 on Wednesday. The stock has a market cap of $9.95 billion, a P/E ratio of 102.70, a P/E/G ratio of 1.95 and a beta of 0.83. The company has a debt-to-equity ratio of 2.19, a current ratio of 1.21 and a quick ratio of 0.84. Crown has a 1-year low of $69.61 and a 1-year high of $98.46. The stock’s 50 day simple moving average is $90.79 and its 200 day simple moving average is $87.50.

Crown (NYSE:CCK) last issued its quarterly earnings data on Thursday, October 17th. The industrial products company reported $1.99 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.81 by $0.18. The business had revenue of $3.07 billion for the quarter, compared to the consensus estimate of $3.07 billion. Crown had a return on equity of 24.57% and a net margin of 0.83%. As a group, equities analysts anticipate that Crown will post 6.34 EPS for the current fiscal year.

Crown Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, November 27th. Shareholders of record on Thursday, November 14th were given a dividend of $0.25 per share. The ex-dividend date of this dividend was Thursday, November 14th. This represents a $1.00 dividend on an annualized basis and a yield of 1.20%. Crown’s dividend payout ratio (DPR) is 123.46%.

Insiders Place Their Bets

In related news, COO Gerard H. Gifford sold 10,000 shares of the firm’s stock in a transaction dated Wednesday, October 23rd. The stock was sold at an average price of $95.89, for a total transaction of $958,900.00. Following the sale, the chief operating officer now directly owns 114,402 shares in the company, valued at approximately $10,970,007.78. This trade represents a 8.04 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO Timothy J. Donahue sold 7,500 shares of the business’s stock in a transaction that occurred on Monday, October 7th. The stock was sold at an average price of $93.00, for a total value of $697,500.00. Following the transaction, the chief executive officer now directly owns 571,178 shares in the company, valued at $53,119,554. This trade represents a 1.30 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 25,000 shares of company stock worth $2,381,875 over the last ninety days. 0.90% of the stock is owned by company insiders.

Institutional Investors Weigh In On Crown

Several hedge funds and other institutional investors have recently added to or reduced their stakes in CCK. Bank of New York Mellon Corp increased its holdings in Crown by 4.0% during the 2nd quarter. Bank of New York Mellon Corp now owns 1,208,711 shares of the industrial products company’s stock worth $89,916,000 after purchasing an additional 46,871 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank increased its stake in shares of Crown by 8.8% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 82,618 shares of the industrial products company’s stock worth $6,146,000 after buying an additional 6,654 shares during the last quarter. Crossmark Global Holdings Inc. raised its holdings in Crown by 6.8% in the second quarter. Crossmark Global Holdings Inc. now owns 9,193 shares of the industrial products company’s stock valued at $684,000 after acquiring an additional 586 shares in the last quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. boosted its stake in Crown by 87.9% during the 2nd quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 112,585 shares of the industrial products company’s stock valued at $8,375,000 after acquiring an additional 52,676 shares during the last quarter. Finally, iA Global Asset Management Inc. acquired a new position in Crown during the 2nd quarter worth $147,000. Hedge funds and other institutional investors 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.