Weekly Analysts’ Ratings Updates for Crown (CCK)

Several analysts have recently updated their ratings and price targets for Crown (NYSE: CCK):

• 5/1/2024 – Crown had its price target raised by analysts at JPMorgan Chase & Co. from $85.00 to $90.00. They now have an “overweight” rating on the stock.
• 5/1/2024 – Crown had its price target raised by analysts at Robert W. Baird from $90.00 to $100.00. They now have an “outperform” rating on the stock.
• 5/1/2024 – Crown had its price target raised by analysts at Wells Fargo & Company from $76.00 to $84.00. They now have an “equal weight” rating on the stock.
• 5/1/2024 – Crown had its price target raised by analysts at Loop Capital from $101.00 to $106.00. They now have a “buy” rating on the stock.
• 4/16/2024 – Crown was upgraded by analysts at Robert W. Baird from a “neutral” rating to an “outperform” rating. They now have a $90.00 price target on the stock, up previously from $85.00.
• 4/11/2024 – Crown had its price target lowered by analysts at Wells Fargo & Company from $78.00 to $76.00. They now have an “equal weight” rating on the stock.
• 3/27/2024 – Crown had its “hold” rating reaffirmed by analysts at Truist Financial Co.. They now have a $88.00 price target on the stock, down previously from $100.00.
• 3/18/2024 – Crown is now covered by analysts at Morgan Stanley. They set an “equal weight” rating and a $87.00 price target on the stock.

Crown Stock Performance

CCK traded down $0.39 on Thursday, reaching $82.67. 388,714 shares of the stock were exchanged, compared to its average volume of 1,245,714. The company’s 50-day moving average price is $77.94 and its 200 day moving average price is $82.62. Crown Holdings, Inc. has a fifty-two week low of $69.61 and a fifty-two week 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 firm has a market capitalization of $9.99 billion, a PE ratio of 23.82, a PEG ratio of 2.78 and a beta of 0.88.

Crown (NYSE:CCK) last issued its quarterly earnings results on Monday, April 29th. The industrial products company reported $1.02 EPS for the quarter, topping analysts’ consensus estimates of $0.96 by $0.06. The company had revenue of $2.78 billion during the quarter, compared to analysts’ expectations of $2.93 billion. Crown had a return on equity of 23.95% and a net margin of 3.51%. The firm’s revenue was down 6.4% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.20 EPS. As a group, sell-side analysts forecast that Crown Holdings, Inc. will post 5.9 EPS for the current fiscal year.

Crown Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, March 28th. Stockholders of record on Thursday, March 14th were issued a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 1.21%. The ex-dividend date was Wednesday, March 13th. This is a boost from Crown’s previous quarterly dividend of $0.24. Crown’s payout ratio is 28.82%.

Insider Activity

In other news, CEO Timothy J. Donahue sold 22,500 shares of the business’s stock in a transaction dated Tuesday, April 30th. The stock was sold at an average price of $85.18, for a total value of $1,916,550.00. Following the completion of the transaction, the chief executive officer now owns 616,178 shares of the company’s stock, valued at approximately $52,486,042.04. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 0.90% of the company’s stock.

Hedge Funds Weigh In On Crown

A number of large investors have recently bought and sold shares of CCK. BluePath Capital Management LLC purchased a new stake in Crown during the 3rd quarter worth approximately $25,000. Sound Income Strategies LLC purchased a new stake in Crown during the 4th quarter worth approximately $26,000. Rise Advisors LLC purchased a new stake in Crown during the 1st quarter worth approximately $27,000. Mather Group LLC. purchased a new stake in shares of Crown in the first quarter valued at approximately $32,000. Finally, Quest Partners LLC purchased a new stake in shares of Crown in the fourth quarter valued at approximately $34,000. Institutional investors and hedge funds own 90.93% of the company’s stock.

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.