Brokerages Set Crown Holdings, Inc. (NYSE:CCK) Target Price at $99.21

Crown Holdings, Inc. (NYSE:CCK) has earned a consensus rating of “Moderate Buy” from the thirteen research firms that are currently covering the company, Marketbeat.com reports. Three analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. The average 1-year price target among brokerages that have issued ratings on the stock in the last year is $99.21.

Several equities analysts recently issued reports on the company. UBS Group initiated coverage on Crown in a report on Tuesday, January 16th. They set a “buy” rating and a $112.00 price objective for the company. Truist Financial reiterated a “hold” rating and issued a $88.00 target price (down from $100.00) on shares of Crown in a research note on Wednesday, March 27th. Morgan Stanley assumed coverage on shares of Crown in a report on Monday, March 18th. They issued an “equal weight” rating and a $87.00 price target on the stock. Wolfe Research assumed coverage on Crown in a report on Friday, March 1st. They set an “outperform” rating and a $102.00 target price for the company. Finally, Mizuho reduced their target price on shares of Crown from $105.00 to $96.00 and set a “buy” rating on the stock in a report on Tuesday, February 6th.

Crown Stock Performance

Shares of CCK stock opened at $80.59 on Friday. The company has a debt-to-equity ratio of 2.34, a quick ratio of 0.77 and a current ratio of 1.15. The firm has a market cap of $9.73 billion, a price-to-earnings ratio of 21.43, a PEG ratio of 2.67 and a beta of 0.91. The stock’s 50-day moving average is $77.26 and its two-hundred day moving average is $82.63. Crown has a 1 year low of $69.61 and a 1 year high of $96.35.

Crown (NYSE:CCK) last posted its quarterly earnings data on Tuesday, February 6th. The industrial products company reported $1.24 earnings per share for the quarter, missing analysts’ consensus estimates of $1.43 by ($0.19). Crown had a net margin of 3.75% and a return on equity of 25.75%. The firm had revenue of $2.86 billion during the quarter, compared to analysts’ expectations of $2.96 billion. During the same quarter last year, the business earned $1.17 earnings per share. The business’s quarterly revenue was down 5.1% on a year-over-year basis. Analysts predict that Crown will post 5.9 earnings per share for the current year.

Crown Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, March 28th. Shareholders of record on Thursday, March 14th were issued a $0.25 dividend. The ex-dividend date of this dividend was Wednesday, March 13th. This represents a $1.00 dividend on an annualized basis and a yield of 1.24%. This is a boost from Crown’s previous quarterly dividend of $0.24. Crown’s dividend payout ratio (DPR) is currently 26.60%.

Institutional Investors Weigh In On Crown

Several large investors have recently added to or reduced their stakes in CCK. Hudson Bay Capital Management LP boosted its stake in Crown by 55.6% during the 3rd quarter. Hudson Bay Capital Management LP now owns 70,000 shares of the industrial products company’s stock valued at $6,194,000 after purchasing an additional 25,000 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank increased its position in Crown by 245.5% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 62,808 shares of the industrial products company’s stock valued at $5,784,000 after acquiring an additional 44,630 shares during the period. Louisiana State Employees Retirement System bought a new stake in Crown during the 4th quarter valued at $3,122,000. Wellington Management Group LLP boosted its position in Crown by 4.1% during the 3rd quarter. Wellington Management Group LLP now owns 504,720 shares of the industrial products company’s stock worth $44,658,000 after acquiring an additional 19,666 shares during the period. Finally, SeaTown Holdings Pte. Ltd. grew its stake in shares of Crown by 19.6% in the third quarter. SeaTown Holdings Pte. Ltd. now owns 86,100 shares of the industrial products company’s stock worth $7,618,000 after purchasing an additional 14,100 shares in the last quarter. 90.93% of the stock is owned by institutional investors and hedge funds.

About Crown

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.