Truist Financial Increases Crown (NYSE:CCK) Price Target to $103.00

Crown (NYSE:CCK) had its target price upped by Truist Financial from $95.00 to $103.00 in a research report report published on Tuesday, Benzinga reports. They currently have a hold rating on the industrial products company’s stock.

CCK has been the subject of a number of other reports. Barclays upped their price target on shares of Crown from $95.00 to $100.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 24th. UBS Group reduced their price target on shares of Crown from $112.00 to $91.00 and set a “buy” rating for the company in a research note on Wednesday, July 17th. Loop Capital upped their price target 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. Wells Fargo & Company upped their price target on shares of Crown from $85.00 to $88.00 and gave the stock an “equal weight” rating in a research note on Wednesday, July 24th. Finally, Royal Bank of Canada reaffirmed an “outperform” rating and issued a $105.00 price target on shares of Crown in a research note on Tuesday, September 24th. Three analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $102.69.

Crown Trading Up 4.2 %

Crown stock opened at $97.75 on Tuesday. The company has a quick ratio of 0.73, a current ratio of 1.05 and a debt-to-equity ratio of 2.00. The firm has a 50-day moving average price of $91.66 and a two-hundred day moving average price of $84.36. The firm has a market capitalization of $11.80 billion, a price-to-earnings ratio of 28.17, 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 posted its earnings results on Monday, July 22nd. The industrial products company reported $1.81 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.59 by $0.22. The firm had revenue of $3.04 billion during the quarter, compared to analyst estimates of $3.06 billion. Crown had a net margin of 3.68% and a return on equity of 23.96%. Crown’s revenue was down 2.2% on a year-over-year basis. During the same period in the previous year, the business posted $1.68 EPS. Sell-side analysts expect that Crown will post 6.15 earnings per share for the current year.

Crown Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, August 29th. Stockholders of record on Thursday, August 15th were issued a dividend of $0.25 per share. The ex-dividend date of this dividend was Thursday, August 15th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.02%. Crown’s dividend payout ratio is currently 28.82%.

Insider Activity

In other Crown news, CEO Timothy J. Donahue sold 7,500 shares of the company’s stock in a transaction that occurred on Wednesday, August 7th. The shares were sold at an average price of $85.85, for a total value of $643,875.00. Following the transaction, the chief executive officer now owns 586,178 shares in the company, valued at approximately $50,323,381.30. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other Crown news, CEO Timothy J. Donahue sold 7,500 shares of the company’s stock in a transaction that occurred on Wednesday, August 7th. The shares were sold at an average price of $85.85, for a total value of $643,875.00. Following the transaction, the chief executive officer now owns 586,178 shares in the company, valued at approximately $50,323,381.30. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 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 transaction of $1,275,450.00. Following the completion of the transaction, the chief executive officer now owns 593,678 shares in the company, valued at approximately $50,480,440.34. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 38,506 shares of company stock worth $3,392,349 over the last 90 days. 0.90% of the stock is owned by company insiders.

Institutional Trading of Crown

Several large investors have recently added to or reduced their stakes in the business. Nisa Investment Advisors LLC grew its position in Crown by 6.1% in the second quarter. Nisa Investment Advisors LLC now owns 2,753 shares of the industrial products company’s stock worth $205,000 after acquiring an additional 158 shares in the last quarter. GAMMA Investing LLC boosted its holdings in shares of Crown by 110.9% during the 3rd quarter. GAMMA Investing LLC now owns 310 shares of the industrial products company’s stock worth $30,000 after buying an additional 163 shares during the period. Fifth Third Bancorp boosted its holdings in shares of Crown by 36.1% during the 2nd quarter. Fifth Third Bancorp now owns 664 shares of the industrial products company’s stock worth $49,000 after buying an additional 176 shares during the period. CIBC Asset Management Inc boosted its holdings in shares of Crown by 5.4% during the 2nd quarter. CIBC Asset Management Inc now owns 4,079 shares of the industrial products company’s stock worth $303,000 after buying an additional 209 shares during the period. Finally, OFI Invest Asset Management boosted its holdings in shares of Crown by 2.2% during the 2nd quarter. OFI Invest Asset Management now owns 11,267 shares of the industrial products company’s stock worth $782,000 after buying an additional 240 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.