Crown (CCK) – Analysts’ Weekly Ratings Updates

Several analysts have recently updated their ratings and price targets for Crown (NYSE: CCK):

• 7/26/2024 – Crown had its price target raised by analysts at Royal Bank of Canada from $96.00 to $105.00. They now have an “outperform” rating on the stock.
• 7/25/2024 – Crown had its price target raised by analysts at Citigroup Inc. from $94.00 to $100.00. They now have a “buy” rating on the stock.
• 7/24/2024 – Crown had its price target raised by analysts at Barclays PLC from $95.00 to $100.00. They now have an “overweight” rating on the stock.
• 7/24/2024 – Crown had its price target raised by analysts at Truist Financial Co. from $88.00 to $95.00. They now have a “hold” rating on the stock.
• 7/24/2024 – Crown had its price target raised by analysts at Morgan Stanley from $89.00 to $92.00. They now have an “equal weight” rating on the stock.
• 7/24/2024 – Crown had its price target raised by analysts at Wells Fargo & Company from $85.00 to $88.00. They now have an “equal weight” rating on the stock.
• 7/24/2024 – Crown was upgraded by analysts at StockNews.com from a “hold” rating to a “buy” rating.
• 7/24/2024 – Crown had its price target raised by analysts at Bank of America Co. from $98.00 to $102.00. They now have a “buy” rating on the stock.
• 7/24/2024 – Crown had its price target raised by analysts at Loop Capital from $106.00 to $120.00. They now have a “buy” rating on the stock.
• 7/17/2024 – Crown had its price target raised by analysts at Wells Fargo & Company from $84.00 to $85.00. They now have an “equal weight” rating on the stock.
• 7/17/2024 – Crown had its price target lowered by analysts at UBS Group AG from $112.00 to $91.00. They now have a “buy” rating on the stock.
• 7/8/2024 – Crown had its price target lowered by analysts at Citigroup Inc. from $102.00 to $94.00. They now have a “buy” rating on the stock.

Crown Stock Up 0.7 %

Shares of NYSE CCK opened at $87.36 on Wednesday. Crown Holdings, Inc. has a 12 month low of $69.61 and a 12 month high of $94.78. 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 firm has a market capitalization of $10.55 billion, a price-to-earnings ratio of 25.18, a PEG ratio of 2.06 and a beta of 0.85. The business has a 50-day moving average of $79.21 and a 200-day moving average of $80.07.

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

Crown Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, August 29th. Stockholders of record on Thursday, August 15th will be paid a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.14%. The ex-dividend date of this dividend is Thursday, August 15th. Crown’s dividend payout ratio (DPR) is presently 28.82%.

Insider Activity

In other news, CEO Timothy J. Donahue sold 15,000 shares of the stock in a transaction that occurred on 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 completion of the sale, the chief executive officer now owns 593,678 shares of the company’s stock, valued at $50,480,440.34. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In related news, Director James H. Miller sold 9,000 shares of the company’s stock in a transaction that occurred on Tuesday, June 4th. The stock was sold at an average price of $82.93, for a total transaction of $746,370.00. Following the completion of the transaction, the director now owns 12,884 shares in the company, valued at $1,068,470.12. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CEO Timothy J. Donahue sold 15,000 shares of the company’s stock in a transaction that occurred on Tuesday, July 23rd. The shares were sold at an average price of $85.03, for a total value of $1,275,450.00. Following the transaction, the chief executive officer now owns 593,678 shares of the company’s stock, valued at approximately $50,480,440.34. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 31,500 shares of company stock valued at $2,659,320. 0.90% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Crown

A number of hedge funds and other institutional investors have recently made changes to their positions in CCK. Raymond James Financial Services Advisors Inc. raised its holdings in shares of Crown by 87.3% during the fourth quarter. Raymond James Financial Services Advisors Inc. now owns 13,049 shares of the industrial products company’s stock valued at $1,202,000 after acquiring an additional 6,083 shares in the last quarter. Oak Thistle LLC raised its holdings in Crown by 5.3% in the fourth quarter. Oak Thistle LLC now owns 6,871 shares of the industrial products company’s stock worth $633,000 after purchasing an additional 343 shares in the last quarter. DAVENPORT & Co LLC raised its holdings in Crown by 12.8% in the fourth quarter. DAVENPORT & Co LLC now owns 50,246 shares of the industrial products company’s stock worth $4,627,000 after purchasing an additional 5,686 shares in the last quarter. Arizona State Retirement System raised its holdings in Crown by 1.2% in the fourth quarter. Arizona State Retirement System now owns 33,160 shares of the industrial products company’s stock worth $3,054,000 after purchasing an additional 394 shares in the last quarter. Finally, International Assets Investment Management LLC bought a new position in Crown in the fourth quarter worth $1,925,000. Institutional investors own 90.93% of the company’s stock.

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.