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

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

Other equities analysts have also recently issued research reports about the company. Barclays boosted their price objective on Crown from $100.00 to $112.00 and gave the stock an “overweight” rating in a research report on Monday, October 21st. Morgan Stanley upped their price target on Crown from $105.00 to $109.00 and gave the stock an “equal weight” rating in a report on Monday, October 21st. Mizuho set a $110.00 price objective on shares of Crown in a research note on Friday, October 18th. Truist Financial upped their target price on shares of Crown from $95.00 to $103.00 and gave the company a “hold” rating in a research note on Tuesday, October 15th. Finally, Loop Capital raised their price target on shares of Crown from $120.00 to $129.00 and gave the stock a “buy” rating in a research report on Monday, October 21st. Four investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $106.62.

Crown Price Performance

Shares of CCK opened at $83.70 on Wednesday. The company has a debt-to-equity ratio of 2.19, a quick ratio of 0.84 and a current ratio of 1.21. The firm has a market cap of $10.01 billion, a PE ratio of 103.33, a PEG ratio of 1.95 and a beta of 0.84. Crown has a twelve month low of $69.61 and a twelve month high of $98.46. The firm’s 50 day moving average price is $91.21 and its 200 day moving average price is $87.56.

Crown (NYSE:CCK) last posted its earnings results on Thursday, October 17th. The industrial products company reported $1.99 EPS for the quarter, topping the consensus estimate of $1.81 by $0.18. Crown had a net margin of 0.83% and a return on equity of 24.57%. The firm had revenue of $3.07 billion for the quarter, compared to the consensus estimate of $3.07 billion. As a group, research analysts expect that Crown will post 6.34 EPS for the current fiscal year.

Crown Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, November 27th. Shareholders of record on Thursday, November 14th were given a $0.25 dividend. 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 1.19%. Crown’s payout ratio is 123.46%.

Insider Transactions at Crown

In other news, COO Gerard H. Gifford sold 10,000 shares of the firm’s stock in a transaction on Wednesday, October 23rd. The stock was 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 in the company, valued at $10,970,007.78. This trade represents a 8.04 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Timothy J. Donahue sold 7,500 shares of the company’s stock in a transaction dated Wednesday, November 6th. The shares were sold at an average price of $96.73, for a total value of $725,475.00. Following the completion of the sale, the chief executive officer now owns 563,678 shares of the company’s stock, valued at $54,524,572.94. This represents a 1.31 % decrease in their position. 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 90 days. 0.90% of the stock is owned by insiders.

Institutional Investors Weigh In On Crown

Large investors have recently bought and sold shares of the company. GAMMA Investing LLC raised its position in shares of Crown by 110.9% during the third quarter. GAMMA Investing LLC now owns 310 shares of the industrial products company’s stock worth $30,000 after purchasing an additional 163 shares during the period. DekaBank Deutsche Girozentrale raised its holdings in Crown by 2.0% during the 3rd quarter. DekaBank Deutsche Girozentrale now owns 9,477 shares of the industrial products company’s stock worth $894,000 after buying an additional 183 shares during the period. M&T Bank Corp raised its holdings in Crown by 3.8% during the 3rd quarter. M&T Bank Corp now owns 5,013 shares of the industrial products company’s stock worth $481,000 after buying an additional 185 shares during the period. CIBC Asset Management Inc lifted its stake in Crown by 5.4% in the second quarter. CIBC Asset Management Inc now owns 4,079 shares of the industrial products company’s stock valued at $303,000 after buying an additional 209 shares in the last quarter. Finally, Tokio Marine Asset Management Co. Ltd. boosted its holdings in shares of Crown by 6.7% in the third quarter. Tokio Marine Asset Management Co. Ltd. now owns 3,539 shares of the industrial products company’s stock valued at $339,000 after buying an additional 223 shares during the period. Institutional investors 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.