Crown (NYSE:CCK) Price Target Cut to $101.00 by Analysts at Bank of America

Crown (NYSE:CCK - Free Report) had its target price trimmed by Bank of America from $107.00 to $101.00 in a report issued on Monday,Benzinga reports. The brokerage currently has a buy rating on the industrial products company's stock.

Several other research analysts have also commented on CCK. Royal Bank of Canada raised their price target on shares of Crown from $105.00 to $113.00 and gave the company an "outperform" rating in a report on Wednesday, October 23rd. Citigroup upped 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. StockNews.com raised Crown from a "hold" rating to a "buy" rating in a research report on Thursday. Loop Capital upped their target price on Crown from $120.00 to $129.00 and gave the stock a "buy" rating in a research report on Monday, October 21st. Finally, Robert W. Baird raised their target price on Crown from $100.00 to $110.00 and gave the company an "outperform" rating in a report on Monday, October 21st. Three analysts have rated the stock with a hold rating and eleven have given a buy rating to the company's stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average target price of $105.38.

Crown Trading Down 0.6 %

Shares of NYSE CCK traded down $0.52 during trading on Monday, hitting $80.02. 1,016,377 shares of the company traded hands, compared to its average volume of 868,692. The firm has a market capitalization of $9.57 billion, a P/E ratio of 98.79, a P/E/G ratio of 1.95 and a beta of 0.86. The company has a quick ratio of 0.84, a current ratio of 1.21 and a debt-to-equity ratio of 2.19. The company has a 50-day moving average price of $88.83 and a 200-day moving average price of $87.77. Crown has a 1 year low of $69.61 and a 1 year high of $98.46.

Crown (NYSE:CCK - Get Free Report) last posted its quarterly earnings results on Thursday, October 17th. The industrial products company reported $1.99 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.81 by $0.18. The firm had revenue of $3.07 billion during the quarter, compared to the consensus estimate of $3.07 billion. Crown had a return on equity of 24.57% and a net margin of 0.83%. On average, equities analysts predict that Crown will post 6.34 EPS for the current year.

Crown Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, November 27th. Stockholders of record on Thursday, November 14th were paid a $0.25 dividend. The ex-dividend date of this dividend was Thursday, November 14th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.25%. Crown's dividend payout ratio (DPR) is presently 123.46%.

Insider Buying and Selling at Crown

In other Crown news, COO Gerard H. Gifford sold 10,000 shares of the firm's stock in a transaction dated Wednesday, October 23rd. The shares were sold at an average price of $95.89, for a total value of $958,900.00. Following the transaction, the chief operating officer now owns 114,402 shares of the company's stock, valued at $10,970,007.78. This trade represents a 8.04 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Timothy J. Donahue sold 7,500 shares of Crown stock in a transaction that occurred on Wednesday, November 6th. The shares were sold at an average price of $96.73, for a total value of $725,475.00. Following the completion of the transaction, the chief executive officer now owns 563,678 shares of the company's stock, valued at approximately $54,524,572.94. The trade was a 1.31 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.90% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. FMR LLC increased its position in Crown by 9.3% in the third quarter. FMR LLC now owns 8,787,606 shares of the industrial products company's stock worth $842,556,000 after buying an additional 749,085 shares during the period. Victory Capital Management Inc. increased its holdings in shares of Crown by 7.8% in the 3rd quarter. Victory Capital Management Inc. now owns 5,676,902 shares of the industrial products company's stock worth $544,301,000 after acquiring an additional 412,973 shares during the period. State Street Corp lifted its position in Crown by 1.8% in the 3rd quarter. State Street Corp now owns 4,000,402 shares of the industrial products company's stock valued at $383,559,000 after purchasing an additional 69,260 shares during the last quarter. Sessa Capital IM L.P. boosted its stake in Crown by 153.0% during the 2nd quarter. Sessa Capital IM L.P. now owns 3,289,374 shares of the industrial products company's stock valued at $244,697,000 after purchasing an additional 1,989,374 shares during the period. Finally, Geode Capital Management LLC grew its position in Crown by 4.2% in the 3rd quarter. Geode Capital Management LLC now owns 2,061,869 shares of the industrial products company's stock worth $197,242,000 after purchasing an additional 82,764 shares during the last quarter. Institutional investors and hedge funds own 90.93% of the company's stock.

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.