Crown (NYSE:CCK) Price Target Raised to $104.00 at Truist Financial

Crown (NYSE:CCK - Free Report) had its target price lifted by Truist Financial from $103.00 to $104.00 in a research report report published on Monday morning,Benzinga reports. The brokerage currently has a hold rating on the industrial products company's stock.

CCK has been the subject of several other research reports. Loop Capital raised their price target on Crown from $120.00 to $129.00 and gave the stock a "buy" rating in a research report on Monday, October 21st. Wells Fargo & Company boosted their target price on shares of Crown from $97.00 to $105.00 and gave the company an "equal weight" rating in a research note on Monday, October 21st. StockNews.com raised shares of Crown from a "hold" rating to a "buy" rating in a research note on Thursday. Royal Bank of Canada upped their price objective on shares of Crown from $105.00 to $113.00 and gave the company an "outperform" rating in a research note on Wednesday, October 23rd. Finally, Barclays raised 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. Three research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. Based on data from MarketBeat, Crown presently has a consensus rating of "Moderate Buy" and an average price target of $105.38.

Crown Stock Performance

Shares of NYSE:CCK traded down $0.52 on Monday, reaching $80.02. The company's stock had a trading volume of 1,016,377 shares, compared to its average volume of 868,692. The stock has a market capitalization of $9.57 billion, a P/E ratio of 98.79, a PEG ratio of 1.95 and a beta of 0.86. Crown has a 52-week low of $69.61 and a 52-week high of $98.46. The stock's 50-day moving average is $88.83 and its two-hundred day moving average is $87.77. The company has a debt-to-equity ratio of 2.19, a current ratio of 1.21 and a quick ratio of 0.84.

Crown (NYSE:CCK - Get Free Report) last announced its earnings results on Thursday, October 17th. The industrial products company reported $1.99 earnings per share for the quarter, beating the consensus estimate of $1.81 by $0.18. The company had revenue of $3.07 billion for 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%. As a group, sell-side analysts forecast that Crown will post 6.34 EPS for the current year.

Crown Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, November 27th. Investors of record on Thursday, November 14th were issued a dividend of $0.25 per share. The ex-dividend date of this dividend was Thursday, November 14th. This represents a $1.00 annualized dividend and a dividend yield of 1.25%. Crown's payout ratio is 123.46%.

Insider Buying and Selling

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

Hedge Funds Weigh In On Crown

Several hedge funds have recently made changes to their positions in CCK. GAMMA Investing LLC lifted its stake in Crown by 110.9% in the 3rd quarter. GAMMA Investing LLC now owns 310 shares of the industrial products company's stock worth $30,000 after acquiring an additional 163 shares in the last quarter. DekaBank Deutsche Girozentrale boosted its holdings in shares of Crown by 2.0% during the 3rd quarter. DekaBank Deutsche Girozentrale now owns 9,477 shares of the industrial products company's stock worth $894,000 after buying an additional 183 shares during the period. M&T Bank Corp grew its position in shares of Crown by 3.8% in the third quarter. M&T Bank Corp now owns 5,013 shares of the industrial products company's stock valued at $481,000 after purchasing an additional 185 shares during the last quarter. CIBC Asset Management Inc increased its position in Crown by 5.4% in the 2nd quarter. CIBC Asset Management Inc now owns 4,079 shares of the industrial products company's stock worth $303,000 after buying an additional 209 shares during the period. Finally, Tokio Marine Asset Management Co. Ltd. boosted its position in shares of Crown by 6.7% in the third quarter. Tokio Marine Asset Management Co. Ltd. now owns 3,539 shares of the industrial products company's stock valued at $339,000 after acquiring an additional 223 shares during the period. 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.