Crown (NYSE:CCK) Price Target Raised to $90.00 at JPMorgan Chase & Co.

Crown (NYSE:CCK) had its target price increased by JPMorgan Chase & Co. from $85.00 to $90.00 in a research report sent to investors on Wednesday, Benzinga reports. They currently have an overweight rating on the industrial products company’s stock.

Several other analysts have also commented on CCK. Truist Financial reissued a hold rating and issued a $88.00 price objective (down from $100.00) on shares of Crown in a report on Wednesday, March 27th. Robert W. Baird upped their price objective on shares of Crown from $90.00 to $100.00 and gave the company an outperform rating in a research note on Wednesday. Mizuho dropped their target price on Crown from $105.00 to $96.00 and set a buy rating for the company in a report on Tuesday, February 6th. UBS Group assumed coverage on Crown in a report on Tuesday, January 16th. They set a buy rating and a $112.00 price target on the stock. Finally, Royal Bank of Canada dropped their price objective on shares of Crown from $110.00 to $97.00 and set an outperform rating for the company in a report on Thursday, February 8th. Four analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. According to MarketBeat, the company currently has an average rating of Moderate Buy and a consensus price target of $99.29.

Crown Stock Performance

CCK opened at $82.45 on Wednesday. Crown has a 12-month low of $69.61 and a 12-month high of $96.35. The company has a current ratio of 1.19, a quick ratio of 0.77 and a debt-to-equity ratio of 2.26. The firm has a market capitalization of $9.96 billion, a PE ratio of 23.76, a P/E/G ratio of 2.78 and a beta of 0.88. The firm has a 50 day moving average of $78.16 and a two-hundred day moving average of $82.63.

Crown (NYSE:CCK) last released its quarterly earnings results on Monday, April 29th. The industrial products company reported $1.02 EPS for the quarter, beating the consensus estimate 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 analyst estimates of $2.93 billion. During the same quarter last year, the business earned $1.20 earnings per share. The firm’s revenue was down 6.4% on a year-over-year basis. On average, analysts anticipate that Crown will post 5.92 EPS for the current year.

Crown Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, June 27th. Shareholders of record on Thursday, June 13th will be paid a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 1.21%. The ex-dividend date is Thursday, June 13th. Crown’s dividend payout ratio (DPR) is 28.82%.

Insider Buying and Selling at Crown

In other Crown news, CEO Timothy J. Donahue sold 22,500 shares of the 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 sale, the chief executive officer now directly owns 616,178 shares in the company, valued at approximately $52,486,042.04. The transaction was disclosed in a document filed with the SEC, which is available through this link. 0.90% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Crown

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

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.