Crown Holdings, Inc. (NYSE:CCK) Receives $106.62 Consensus Target Price from Analysts

Shares of Crown Holdings, Inc. (NYSE:CCK) have received a consensus recommendation of “Moderate Buy” from the thirteen research firms that are currently covering the company, MarketBeat.com reports. Three analysts have rated the stock with a hold rating and ten have given a buy rating to the company. The average twelve-month price objective among brokerages that have updated their coverage on the stock in the last year is $106.62.

A number of analysts have recently weighed in on CCK shares. Royal Bank of Canada upped their price target on shares of Crown from $105.00 to $113.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 23rd. StockNews.com upgraded Crown from a “hold” rating to a “buy” rating in a research report on Thursday. Loop Capital lifted their price target on Crown from $120.00 to $129.00 and gave the company a “buy” rating in a research report on Monday, October 21st. Morgan Stanley upped their price objective on Crown from $105.00 to $109.00 and gave the company an “equal weight” rating in a report on Monday, October 21st. Finally, Robert W. Baird lifted their target price on Crown from $100.00 to $110.00 and gave the stock an “outperform” rating in a report on Monday, October 21st.

Insider Activity

In other Crown news, CEO Timothy J. Donahue sold 7,500 shares of the company’s stock in a transaction dated 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 of the company’s stock, valued at $53,119,554. This represents a 1.30 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, COO Gerard H. Gifford sold 10,000 shares of the firm’s stock in a transaction that occurred on Wednesday, October 23rd. The shares were sold at an average price of $95.89, for a total transaction of $958,900.00. Following the transaction, the chief operating officer now directly owns 114,402 shares in the company, valued at approximately $10,970,007.78. The trade was a 8.04 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 25,000 shares of company stock worth $2,381,875. 0.90% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Crown

Institutional investors have recently modified their holdings of the company. Sessa Capital IM L.P. boosted its position in shares of Crown by 153.0% in the second quarter. Sessa Capital IM L.P. now owns 3,289,374 shares of the industrial products company’s stock valued at $244,697,000 after acquiring an additional 1,989,374 shares during the period. Metropolis Capital Ltd grew its position in Crown by 269.7% in the 3rd quarter. Metropolis Capital Ltd now owns 1,455,752 shares of the industrial products company’s stock worth $139,578,000 after purchasing an additional 1,062,001 shares during the last quarter. Jennison Associates LLC increased its holdings in shares of Crown by 125.0% during the 3rd quarter. Jennison Associates LLC now owns 1,352,711 shares of the industrial products company’s stock worth $129,698,000 after purchasing an additional 751,530 shares during the period. FMR LLC raised its position in shares of Crown by 9.3% during the third quarter. FMR LLC now owns 8,787,606 shares of the industrial products company’s stock valued at $842,556,000 after buying an additional 749,085 shares during the last quarter. Finally, 1832 Asset Management L.P. grew its position in Crown by 31.5% during the second quarter. 1832 Asset Management L.P. now owns 1,976,500 shares of the industrial products company’s stock worth $147,032,000 after buying an additional 473,000 shares in the last quarter. Institutional investors own 90.93% of the company’s stock.

Crown Stock Up 1.0 %

CCK opened at $82.69 on Thursday. The stock’s 50 day moving average price is $89.68 and its 200 day moving average price is $87.62. The company has a debt-to-equity ratio of 2.19, a current ratio of 1.21 and a quick ratio of 0.84. The stock has a market cap of $9.89 billion, a P/E ratio of 102.09, a P/E/G ratio of 1.95 and a beta of 0.83. Crown has a 12 month low of $69.61 and a 12 month high of $98.46.

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

Crown Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, November 27th. Investors of record on Thursday, November 14th were paid a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 1.21%. The ex-dividend date of this dividend was Thursday, November 14th. Crown’s dividend payout ratio is 123.46%.

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.