Crown Holdings, Inc. (NYSE:CCK) has been assigned a consensus rating of “Buy” from the fifteen brokerages that are presently covering the firm, MarketBeat.com reports. Three analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. The average 12 month price target among brokerages that have updated their coverage on the stock in the last year is $116.71.
A number of research firms have recently weighed in on CCK. Deutsche Bank Aktiengesellschaft lifted their price target on shares of Crown from $120.00 to $136.00 and gave the company a “buy” rating in a research report on Tuesday, April 27th. The Goldman Sachs Group began coverage on shares of Crown in a research report on Thursday, April 15th. They issued a “neutral” rating and a $108.00 price target for the company. Jefferies Financial Group lifted their price target on shares of Crown from $123.00 to $134.00 and gave the company a “buy” rating in a research report on Wednesday, April 21st. BMO Capital Markets lifted their price target on shares of Crown from $115.00 to $120.00 and gave the company an “outperform” rating in a research report on Wednesday, April 21st. Finally, Wells Fargo & Company lifted their price target on shares of Crown from $125.00 to $132.00 and gave the company an “overweight” rating in a research report on Thursday, April 22nd. They noted that the move was a valuation call.
CCK stock traded down $2.20 during mid-day trading on Tuesday, hitting $109.18. 519,481 shares of the company were exchanged, compared to its average volume of 1,008,540. The business has a 50 day simple moving average of $107.19 and a 200-day simple moving average of $98.94. The company has a current ratio of 1.19, a quick ratio of 0.74 and a debt-to-equity ratio of 3.47. The stock has a market capitalization of $14.73 billion, a PE ratio of 28.58, a price-to-earnings-growth ratio of 2.99 and a beta of 1.14. Crown has a 1-year low of $61.00 and a 1-year high of $114.55.
The business also recently announced a quarterly dividend, which will be paid on Thursday, May 20th. Shareholders of record on Thursday, May 6th will be paid a dividend of $0.20 per share. The ex-dividend date is Wednesday, May 5th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 0.73%. Crown’s payout ratio is presently 15.66%.
Crown announced that its board has authorized a share repurchase program on Thursday, February 25th that authorizes the company to buyback $1.50 billion in outstanding shares. This buyback authorization authorizes the industrial products company to buy up to 11.4% of its shares through open market purchases. Shares buyback programs are typically an indication that the company’s board believes its stock is undervalued.
In other Crown news, Director John W. Conway sold 334 shares of the business’s stock in a transaction on Wednesday, April 28th. The shares were sold at an average price of $109.76, for a total transaction of $36,659.84. Following the sale, the director now owns 1,031,377 shares of the company’s stock, valued at $113,203,939.52. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Hock Huat Goh sold 5,136 shares of Crown stock in a transaction on Friday, May 7th. The stock was sold at an average price of $113.60, for a total transaction of $583,449.60. Following the transaction, the insider now owns 48,471 shares in the company, valued at approximately $5,506,305.60. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 10,095 shares of company stock worth $1,128,027. Insiders own 1.90% of the company’s stock.
Large investors have recently modified their holdings of the company. Graves Light Private Wealth Management Inc. acquired a new position in shares of Crown during the fourth quarter worth $26,000. Penserra Capital Management LLC acquired a new position in shares of Crown during the fourth quarter worth $28,000. Bessemer Group Inc. acquired a new position in Crown in the fourth quarter valued at $32,000. Liberty Wealth Management LLC acquired a new position in Crown in the fourth quarter valued at $33,000. Finally, Signaturefd LLC lifted its holdings in Crown by 108.5% in the first quarter. Signaturefd LLC now owns 367 shares of the industrial products company’s stock valued at $36,000 after buying an additional 191 shares during the period. Institutional investors own 87.90% of the company’s stock.
Crown Holdings, Inc designs, manufactures, and sells packaging products and equipment for consumer goods and industrial products in the Americas, Europe, and the Asia Pacific. It offers products for consumer goods, including steel and aluminum cans for food, beverage, household, and other consumer products; glass bottles for beverage product; and metal vacuum closures and steel crowns through its sales organization to the soft drink, food, citrus, brewing, household products, personal care, and various other industries.
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