Crown (NYSE:CCK) Price Target Cut to $88.00 by Analysts at Wells Fargo & Company

Crown (NYSE:CCK) had its price target reduced by Wells Fargo & Company from $105.00 to $88.00 in a research note released on Monday,Benzinga reports. They currently have an equal weight rating on the industrial products company’s stock.

A number of other equities research analysts have also recently commented on the stock. Loop Capital upped their target price on shares of Crown from $120.00 to $129.00 and gave the company a “buy” rating in a report on Monday, October 21st. Barclays boosted their target price on Crown from $100.00 to $112.00 and gave the stock an “overweight” rating in a research report on Monday, October 21st. Citigroup raised 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. Robert W. Baird upped their price target on shares of Crown from $100.00 to $110.00 and gave the stock an “outperform” rating in a research note on Monday, October 21st. Finally, Mizuho set a $110.00 target price on shares of Crown in a research report on Friday, October 18th. Three research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. According to MarketBeat.com, Crown has an average rating of “Moderate Buy” and a consensus target price of $105.38.

Crown Trading Down 0.6 %

CCK opened at $80.02 on Monday. The company has a market cap of $9.57 billion, a P/E ratio of 98.79, a PEG ratio of 1.95 and a beta of 0.86. Crown has a one year low of $69.61 and a one year high of $98.46. 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 business’s 50-day simple moving average is $88.83 and its 200-day simple moving average is $87.77.

Crown (NYSE:CCK) last posted its earnings results on Thursday, October 17th. The industrial products company reported $1.99 earnings per share for the quarter, beating the consensus estimate of $1.81 by $0.18. The business had revenue of $3.07 billion during 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 research analysts expect that Crown will post 6.34 EPS for the current fiscal year.

Crown Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, November 27th. Stockholders of record on Thursday, November 14th were issued a dividend of $0.25 per share. The ex-dividend date was Thursday, November 14th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.25%. Crown’s dividend payout ratio (DPR) is presently 123.46%.

Insider Activity at Crown

In other Crown news, CEO Timothy J. Donahue sold 7,500 shares of Crown stock in a transaction dated Wednesday, November 6th. The stock was 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 in the company, valued at $54,524,572.94. The trade was a 1.31 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, COO Gerard H. Gifford sold 10,000 shares of the firm’s stock in a transaction that occurred on Wednesday, October 23rd. The stock was sold at an average price of $95.89, for a total transaction of $958,900.00. Following the completion of the sale, the chief operating officer now directly owns 114,402 shares in the company, valued at $10,970,007.78. This represents a 8.04 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.90% of the company’s stock.

Hedge Funds Weigh In On Crown

Several hedge funds and other institutional investors have recently modified their holdings of CCK. FMR LLC lifted its position in 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 in the last quarter. Victory Capital Management Inc. grew its stake in shares of Crown by 7.8% in the third quarter. Victory Capital Management Inc. now owns 5,676,902 shares of the industrial products company’s stock valued at $544,301,000 after buying an additional 412,973 shares in the last quarter. State Street Corp raised its holdings in shares of Crown by 1.8% during the 3rd quarter. State Street Corp now owns 4,000,402 shares of the industrial products company’s stock valued at $383,559,000 after buying an additional 69,260 shares during the period. Sessa Capital IM L.P. raised its stake in shares of Crown by 153.0% during 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 purchasing an additional 1,989,374 shares during the period. Finally, Geode Capital Management LLC boosted its stake in shares of Crown by 4.2% in the third quarter. Geode Capital Management LLC now owns 2,061,869 shares of the industrial products company’s stock valued at $197,242,000 after purchasing an additional 82,764 shares during the period. 90.93% of the stock is owned by institutional investors and hedge funds.

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.