Crown (NYSE:CCK) Receives Hold Rating from Truist Financial

Truist Financial reissued their hold rating on shares of Crown (NYSE:CCK) in a research report released on Wednesday morning, Marketbeat reports. The firm currently has a $88.00 price objective on the industrial products company’s stock, down from their previous price objective of $100.00.

A number of other research analysts also recently issued reports on CCK. JPMorgan Chase & Co. upgraded Crown from a neutral rating to an overweight rating and set a $85.00 price target on the stock in a research note on Wednesday, February 7th. Robert W. Baird reaffirmed a neutral rating and set a $90.00 price objective on shares of Crown in a research report on Tuesday, February 6th. Mizuho decreased their price objective on Crown from $105.00 to $96.00 and set a buy rating for the company in a research report on Tuesday, February 6th. Royal Bank of Canada decreased their price objective on Crown from $110.00 to $97.00 and set an outperform rating for the company in a research report on Thursday, February 8th. Finally, UBS Group began coverage on Crown in a research report on Tuesday, January 16th. They set a buy rating and a $112.00 price objective for the company. Five research analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of Moderate Buy and an average target price of $99.36.

Crown Trading Up 1.4 %

NYSE:CCK opened at $78.50 on Wednesday. The stock’s 50 day moving average price is $79.72 and its 200 day moving average price is $84.06. The company has a market capitalization of $9.48 billion, a PE ratio of 20.88, a P/E/G ratio of 2.60 and a beta of 0.91. The company has a quick ratio of 0.77, a current ratio of 1.15 and a debt-to-equity ratio of 2.34. Crown has a 52-week low of $69.61 and a 52-week high of $96.35.

Crown (NYSE:CCK) last released its quarterly earnings results on Tuesday, February 6th. The industrial products company reported $1.24 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.43 by ($0.19). The firm had revenue of $2.86 billion for the quarter, compared to analysts’ expectations of $2.96 billion. Crown had a return on equity of 25.75% and a net margin of 3.75%. The company’s quarterly revenue was down 5.1% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.17 EPS. On average, research analysts anticipate that Crown will post 5.95 EPS for the current year.

Crown Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, March 28th. Stockholders of record on Thursday, March 14th will be issued a $0.25 dividend. This is a boost from Crown’s previous quarterly dividend of $0.24. This represents a $1.00 annualized dividend and a dividend yield of 1.27%. The ex-dividend date of this dividend is Wednesday, March 13th. Crown’s dividend payout ratio (DPR) is currently 26.60%.

Insider Activity

In other news, CEO Timothy J. Donahue sold 7,500 shares of the firm’s stock in a transaction that occurred on Monday, January 8th. The stock was sold at an average price of $90.96, for a total value of $682,200.00. Following the completion of the sale, the chief executive officer now directly owns 651,264 shares of the company’s stock, valued at approximately $59,238,973.44. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 0.90% of the company’s stock.

Hedge Funds Weigh In On Crown

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Equitable Holdings Inc. raised its holdings in Crown by 4.5% during the second quarter. Equitable Holdings Inc. now owns 2,681 shares of the industrial products company’s stock worth $233,000 after purchasing an additional 116 shares during the last quarter. DB Fitzpatrick & Co Inc raised its holdings in Crown by 0.9% during the third quarter. DB Fitzpatrick & Co Inc now owns 16,258 shares of the industrial products company’s stock worth $1,439,000 after purchasing an additional 142 shares during the last quarter. Picton Mahoney Asset Management raised its holdings in Crown by 14.0% during the fourth quarter. Picton Mahoney Asset Management now owns 1,181 shares of the industrial products company’s stock worth $109,000 after purchasing an additional 145 shares during the last quarter. Tokio Marine Asset Management Co. Ltd. raised its holdings in Crown by 5.3% during the fourth quarter. Tokio Marine Asset Management Co. Ltd. now owns 3,057 shares of the industrial products company’s stock worth $282,000 after purchasing an additional 154 shares during the last quarter. Finally, Envestnet Portfolio Solutions Inc. raised its holdings in Crown by 6.9% during the fourth quarter. Envestnet Portfolio Solutions Inc. now owns 2,464 shares of the industrial products company’s stock worth $227,000 after purchasing an additional 160 shares during the last quarter. 90.93% of the stock is owned by institutional investors and hedge funds.

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.