Wells Fargo & Company Lowers Crown (NYSE:CCK) Price Target to $86.00

Crown (NYSE:CCK) had its price target cut by Wells Fargo & Company from $88.00 to $86.00 in a research note published on Thursday,Benzinga reports. They currently have an equal weight rating on the industrial products company’s stock.

CCK has been the subject of a number of other research reports. Robert W. Baird boosted their price target on Crown from $100.00 to $110.00 and gave the company an “outperform” rating in a report on Monday, October 21st. Royal Bank of Canada upped their target price on Crown from $105.00 to $113.00 and gave the stock an “outperform” rating in a report on Wednesday, October 23rd. Truist Financial raised their price target on Crown from $103.00 to $104.00 and gave the company a “hold” rating in a research note on Monday, January 6th. Mizuho lowered their price target on shares of Crown from $110.00 to $100.00 and set an “outperform” rating for the company in a research report on Tuesday, January 7th. Finally, StockNews.com downgraded Crown from a “buy” rating to a “hold” rating in a research report on Friday, January 10th. Two investment analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $105.46.

Crown Stock Performance

CCK stock opened at $85.59 on Thursday. The firm has a market cap of $10.24 billion, a price-to-earnings ratio of 105.66, a PEG ratio of 1.51 and a beta of 0.86. Crown has a twelve month low of $69.61 and a twelve month high of $98.46. 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 business’s fifty day simple moving average is $86.75 and its two-hundred day simple moving average is $88.07.

Crown (NYSE:CCK) last posted its quarterly earnings results on Thursday, October 17th. The industrial products company reported $1.99 EPS for the quarter, topping 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 net margin of 0.83% and a return on equity of 24.57%. Analysts predict that Crown will post 6.35 earnings per share 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 given a $0.25 dividend. The ex-dividend date was Thursday, November 14th. This represents a $1.00 annualized dividend and a dividend yield of 1.17%. Crown’s dividend payout ratio (DPR) is 123.46%.

Insider Buying and Selling

In other Crown news, CEO Timothy J. Donahue sold 7,500 shares of the business’s stock in a transaction that occurred on Wednesday, November 6th. The stock was sold at an average price of $96.73, for a total transaction of $725,475.00. Following the completion of the sale, the chief executive officer now directly owns 563,678 shares in the company, valued at approximately $54,524,572.94. The trade was a 1.31 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, COO Gerard H. Gifford sold 10,000 shares of the stock in a transaction that occurred on 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 directly owns 114,402 shares of the company’s stock, valued at $10,970,007.78. The trade was a 8.04 % decrease in their position. The disclosure for this sale can be found here. Insiders own 0.90% of the company’s stock.

Institutional Investors Weigh In On Crown

A number of large investors have recently modified their holdings of CCK. GAMMA Investing LLC boosted its position in Crown by 110.9% during the third quarter. GAMMA Investing LLC now owns 310 shares of the industrial products company’s stock worth $30,000 after acquiring an additional 163 shares during the last quarter. Covestor Ltd grew its stake in shares of Crown by 156.5% in the 3rd quarter. Covestor Ltd now owns 454 shares of the industrial products company’s stock valued at $44,000 after buying an additional 277 shares during the period. Brooklyn Investment Group purchased a new stake in shares of Crown in the 3rd quarter valued at approximately $44,000. Catalyst Capital Advisors LLC purchased a new stake in shares of Crown during the 3rd quarter valued at approximately $48,000. Finally, Mirae Asset Global Investments Co. Ltd. acquired a new position in Crown in the third quarter valued at approximately $55,000. Hedge funds and other institutional investors own 90.93% of the company’s stock.

Crown Company Profile

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.