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

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

Other research analysts have also issued research reports about the stock. Loop Capital lifted their price objective on shares of Crown from $106.00 to $120.00 and gave the stock a “buy” rating in a research note on Wednesday, July 24th. Mizuho set a $110.00 price target on shares of Crown in a research report on Friday, October 18th. Royal Bank of Canada reissued an “outperform” rating and issued a $105.00 price target on shares of Crown in a report on Tuesday, September 24th. Wells Fargo & Company raised their price objective on Crown from $88.00 to $97.00 and gave the stock an “equal weight” rating in a research note on Tuesday, October 15th. Finally, StockNews.com raised Crown from a “hold” rating to a “buy” rating in a research note on Tuesday, October 15th. Three investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. Based on data from MarketBeat.com, Crown has a consensus rating of “Moderate Buy” and a consensus target price of $106.62.

Crown Stock Performance

Shares of Crown stock opened at $95.24 on Monday. The firm has a fifty day moving average of $92.40 and a two-hundred day moving average of $84.87. The company has a debt-to-equity ratio of 2.00, a quick ratio of 0.73 and a current ratio of 1.05. The stock has a market capitalization of $11.50 billion, a price-to-earnings ratio of 27.45, a PEG ratio of 2.19 and a beta of 0.86. Crown has a 52 week low of $69.61 and a 52 week high of $98.46.

Crown (NYSE:CCK) last released its earnings results 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 firm had revenue of $3.04 billion for 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%. The company’s quarterly revenue was down 2.2% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.68 earnings per share. As a group, equities research analysts predict that Crown will post 6.15 EPS for the current year.

Crown Dividend Announcement

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

Insider Transactions at Crown

In related news, Director James H. Miller sold 1,006 shares of Crown stock in a transaction dated Monday, September 23rd. The stock was sold at an average price of $95.60, for a total value of $96,173.60. Following the sale, the director now owns 12,424 shares of the company’s stock, valued at approximately $1,187,734.40. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, COO Gerard H. Gifford sold 10,000 shares of the business’s stock in a transaction 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 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director James H. Miller sold 1,006 shares of the stock in a transaction on Monday, September 23rd. The shares were sold at an average price of $95.60, for a total transaction of $96,173.60. Following the completion of the sale, the director now owns 12,424 shares of the company’s stock, valued at approximately $1,187,734.40. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 33,506 shares of company stock worth $3,075,799 in the last three months. Insiders own 0.90% of the company’s stock.

Institutional Investors Weigh In On Crown

A number of institutional investors and hedge funds have recently modified their holdings of CCK. 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 during the last quarter. Empowered Funds LLC acquired a new stake in Crown during the 1st quarter valued at $6,854,000. Russell Investments Group Ltd. boosted its position in Crown by 21.0% during the first 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 period. Entropy Technologies LP increased its holdings in shares of Crown by 1,127.4% in the first quarter. Entropy Technologies LP now owns 27,456 shares of the industrial products company’s stock valued at $2,176,000 after purchasing an additional 25,219 shares during the last quarter. Finally, CANADA LIFE ASSURANCE Co raised its position in shares of Crown by 16.4% in the first quarter. CANADA LIFE ASSURANCE Co now owns 103,013 shares of the industrial products company’s stock valued at $8,163,000 after purchasing an additional 14,501 shares during the period. 90.93% of the stock is owned by institutional investors.

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.