Crown (NYSE:CCK) Upgraded to Buy at StockNews.com

StockNews.com upgraded shares of Crown (NYSE:CCK) from a hold rating to a buy rating in a report issued on Saturday.

A number of other equities research analysts have also weighed in on CCK. Robert W. Baird raised their price objective on Crown from $100.00 to $110.00 and gave the company an “outperform” rating in a research note on Monday, October 21st. Morgan Stanley raised their price target on shares of Crown from $105.00 to $109.00 and gave the stock an “equal weight” rating in a research report on Monday, October 21st. Truist Financial increased their price objective on shares of Crown from $95.00 to $103.00 and gave the company a “hold” rating in a research note on Tuesday, October 15th. Barclays boosted their target price on shares of Crown from $100.00 to $112.00 and gave the stock an “overweight” rating in a research report on Monday, October 21st. Finally, Citigroup increased their price target on shares of Crown from $100.00 to $110.00 and gave the stock a “buy” rating in a research report on Wednesday, October 2nd. Three research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $106.62.

Crown Stock Performance

Crown stock opened at $93.70 on Friday. Crown has a 12-month low of $69.61 and a 12-month high of $98.46. The company has a debt-to-equity ratio of 2.00, a current ratio of 1.05 and a quick ratio of 0.73. The company has a market capitalization of $11.31 billion, a price-to-earnings ratio of 27.00, a price-to-earnings-growth ratio of 2.19 and a beta of 0.86. The firm’s fifty day moving average price is $92.52 and its 200 day moving average price is $85.02.

Crown Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 27th. Investors of record on Thursday, November 14th will be paid a dividend of $0.25 per share. The ex-dividend date of this dividend is Thursday, November 14th. This represents a $1.00 dividend on an annualized basis and a yield of 1.07%. Crown’s payout ratio is currently 28.82%.

Insiders Place Their Bets

In other news, CEO Timothy J. Donahue sold 7,500 shares of the company’s stock in a transaction dated Wednesday, August 7th. The shares were sold at an average price of $85.85, for a total transaction of $643,875.00. Following the completion of 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 ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, COO Gerard H. Gifford sold 10,000 shares of Crown stock in a transaction dated Wednesday, October 23rd. The shares were sold at an average price of $95.89, for a total transaction of $958,900.00. Following the sale, the chief operating officer now directly owns 114,402 shares in the company, valued at $10,970,007.78. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Timothy J. Donahue sold 7,500 shares of the company’s stock in a transaction dated Wednesday, August 7th. The stock was sold at an average price of $85.85, for a total transaction of $643,875.00. Following the completion of the sale, the chief executive officer now directly owns 586,178 shares of the company’s stock, valued at $50,323,381.30. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 33,506 shares of company stock valued at $3,075,799 over the last three months. Company insiders own 0.90% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the stock. Mutual of America Capital Management LLC lifted its holdings in shares of Crown by 10.3% in the first quarter. Mutual of America Capital Management LLC now owns 153,739 shares of the industrial products company’s stock valued at $12,185,000 after buying an additional 14,362 shares during the period. Empowered Funds LLC bought a new position in shares of Crown during the 1st quarter valued at about $6,854,000. Russell Investments Group Ltd. grew its stake in shares of Crown by 21.0% in the 1st quarter. Russell Investments Group Ltd. now owns 341,216 shares of the industrial products company’s stock worth $27,045,000 after purchasing an additional 59,267 shares during the last quarter. Entropy Technologies LP raised its holdings in shares of Crown by 1,127.4% in the 1st quarter. Entropy Technologies LP now owns 27,456 shares of the industrial products company’s stock worth $2,176,000 after purchasing an additional 25,219 shares in the last quarter. Finally, CANADA LIFE ASSURANCE Co lifted its stake in Crown by 16.4% during the first quarter. CANADA LIFE ASSURANCE Co now owns 103,013 shares of the industrial products company’s stock valued at $8,163,000 after purchasing an additional 14,501 shares during the last quarter. Institutional investors and hedge funds 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.