Crown Holdings, Inc. (NYSE:CCK) Receives $106.00 Average PT from Brokerages

Shares of Crown Holdings, Inc. (NYSE:CCK - Get Free Report) have earned an average recommendation of "Moderate Buy" from the twelve brokerages that are presently covering the company, MarketBeat Ratings reports. Two equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. The average 1 year target price among brokerages that have updated their coverage on the stock in the last year is $106.00.

CCK has been the topic of a number of research analyst reports. Morgan Stanley upgraded Crown from an "equal weight" rating to an "overweight" rating and lowered their price target for the company from $109.00 to $105.00 in a report on Monday, January 13th. Truist Financial boosted their target price on Crown from $103.00 to $104.00 and gave the stock a "hold" rating in a report on Monday, January 6th. Mizuho dropped their price target on Crown from $110.00 to $100.00 and set an "outperform" rating on the stock in a research report on Tuesday, January 7th. Citigroup lifted their target price on Crown from $110.00 to $111.00 and gave the stock a "buy" rating in a research report on Monday, January 6th. Finally, Bank of America decreased their target price on shares of Crown from $107.00 to $101.00 and set a "buy" rating on the stock in a research report on Monday, January 6th.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the business. Captrust Financial Advisors raised its stake in shares of Crown by 159.6% in the third quarter. Captrust Financial Advisors now owns 8,947 shares of the industrial products company's stock worth $858,000 after purchasing an additional 5,500 shares during the last quarter. Point72 Asia Singapore Pte. Ltd. purchased a new position in Crown during the 3rd quarter worth $71,000. Centiva Capital LP bought a new stake in shares of Crown in the 3rd quarter worth $548,000. HighTower Advisors LLC raised its holdings in shares of Crown by 18.2% in the third quarter. HighTower Advisors LLC now owns 10,432 shares of the industrial products company's stock valued at $1,007,000 after purchasing an additional 1,609 shares during the last quarter. Finally, Investment Management Corp of Ontario boosted its holdings in Crown by 136.0% during the third quarter. Investment Management Corp of Ontario now owns 6,559 shares of the industrial products company's stock worth $629,000 after purchasing an additional 3,780 shares during the last quarter. 90.93% of the stock is owned by institutional investors.

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Crown Stock Down 3.0 %

NYSE:CCK traded down $2.47 during trading hours on Friday, hitting $80.93. The stock had a trading volume of 289,301 shares, compared to its average volume of 1,195,854. Crown has a 1-year low of $70.84 and a 1-year high of $98.46. The company has a market cap of $9.47 billion, a PE ratio of 22.80, a price-to-earnings-growth ratio of 1.56 and a beta of 0.79. The company has a current ratio of 1.22, a quick ratio of 0.80 and a debt-to-equity ratio of 1.88. The business has a 50 day simple moving average of $87.67 and a two-hundred day simple moving average of $88.92.

Crown (NYSE:CCK - Get Free Report) last announced its quarterly earnings data on Wednesday, February 5th. The industrial products company reported $1.59 earnings per share for the quarter, beating analysts' consensus estimates of $1.51 by $0.08. Crown had a net margin of 3.59% and a return on equity of 25.12%. Analysts predict that Crown will post 6.96 EPS for the current year.

Crown Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, April 1st. Investors of record on Tuesday, March 18th were paid a dividend of $0.26 per share. This is an increase from Crown's previous quarterly dividend of $0.25. This represents a $1.04 dividend on an annualized basis and a yield of 1.29%. The ex-dividend date was Tuesday, March 18th. Crown's dividend payout ratio is 29.21%.

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.