Crown (NYSE:CCK) PT Raised to $100.00 at Robert W. Baird

Crown (NYSE:CCK) had its price objective hoisted by Robert W. Baird from $90.00 to $100.00 in a research note released on Wednesday, Benzinga reports. Robert W. Baird currently has an outperform rating on the industrial products company’s stock.

Other research analysts have also issued research reports about the company. Morgan Stanley initiated coverage on Crown in a research report on Monday, March 18th. They issued an equal weight rating and a $87.00 price target for the company. Wolfe Research began coverage on Crown in a report on Friday, March 1st. They issued an outperform rating and a $102.00 target price for the company. Mizuho decreased their price target on Crown from $105.00 to $96.00 and set a buy rating on the stock in a report on Tuesday, February 6th. Wells Fargo & Company dropped their price objective on shares of Crown from $78.00 to $76.00 and set an equal weight rating for the company in a research note on Thursday, April 11th. Finally, JPMorgan Chase & Co. raised shares of Crown from a neutral rating to an overweight rating and set a $85.00 target price on the stock in a research note on Wednesday, February 7th. Four 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 presently has a consensus rating of Moderate Buy and an average price target of $99.29.

Crown Stock Up 0.1 %

Shares of CCK opened at $82.45 on Wednesday. The business’s 50 day simple moving average is $78.16 and its 200-day simple moving average is $82.63. Crown has a 1 year low of $69.61 and a 1 year high of $96.35. The company has a debt-to-equity ratio of 2.26, a current ratio of 1.19 and a quick ratio of 0.77. The stock has a market capitalization of $9.96 billion, a price-to-earnings ratio of 23.76, a price-to-earnings-growth ratio of 2.78 and a beta of 0.88.

Crown (NYSE:CCK) last released its quarterly earnings results on Monday, April 29th. The industrial products company reported $1.02 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.96 by $0.06. Crown had a net margin of 3.51% and a return on equity of 23.95%. The company had revenue of $2.78 billion for the quarter, compared to the consensus estimate of $2.93 billion. During the same quarter in the prior year, the firm earned $1.20 earnings per share. Crown’s revenue was down 6.4% on a year-over-year basis. As a group, equities analysts expect that Crown will post 5.92 earnings per share for the current fiscal year.

Crown Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, June 27th. Investors of record on Thursday, June 13th will be paid a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 1.21%. The ex-dividend date of this dividend is Thursday, June 13th. Crown’s dividend payout ratio is presently 28.82%.

Insider Buying and Selling at Crown

In other news, CEO Timothy J. Donahue sold 22,500 shares of the firm’s stock in a transaction that occurred on Tuesday, April 30th. The shares were sold at an average price of $85.18, for a total transaction of $1,916,550.00. Following the transaction, the chief executive officer now directly owns 616,178 shares of the company’s stock, valued at $52,486,042.04. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. 0.90% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Crown

Several hedge funds have recently made changes to their positions in CCK. Vanguard Group Inc. raised its holdings in shares of Crown by 1.5% in the fourth quarter. Vanguard Group Inc. now owns 11,825,703 shares of the industrial products company’s stock valued at $1,089,029,000 after acquiring an additional 173,460 shares in the last quarter. Victory Capital Management Inc. increased its position in Crown by 7.3% during the 4th quarter. Victory Capital Management Inc. now owns 5,136,706 shares of the industrial products company’s stock valued at $473,039,000 after purchasing an additional 350,265 shares during the period. FMR LLC raised its holdings in shares of Crown by 8.6% in the 3rd quarter. FMR LLC now owns 3,776,097 shares of the industrial products company’s stock valued at $334,109,000 after purchasing an additional 298,766 shares in the last quarter. Massachusetts Financial Services Co. MA lifted its position in shares of Crown by 7.9% in the 4th quarter. Massachusetts Financial Services Co. MA now owns 2,536,995 shares of the industrial products company’s stock worth $233,632,000 after purchasing an additional 186,387 shares during the period. Finally, Toronto Dominion Bank boosted its stake in shares of Crown by 41.9% during the third quarter. Toronto Dominion Bank now owns 2,213,904 shares of the industrial products company’s stock valued at $195,886,000 after purchasing an additional 654,082 shares in the last quarter. 90.93% of the stock is currently owned by hedge funds and other 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.