Crown (NYSE:CCK) PT Raised to $90.00 at JPMorgan Chase & Co.

Crown (NYSE:CCK) had its price objective upped by JPMorgan Chase & Co. from $85.00 to $90.00 in a research note published on Wednesday, Benzinga reports. They currently have an overweight rating on the industrial products company’s stock.

Other research analysts have also issued reports about the stock. Royal Bank of Canada reduced their price target on shares of Crown from $110.00 to $97.00 and set an outperform rating for the company in a research report on Thursday, February 8th. Morgan Stanley assumed coverage on shares of Crown in a research report on Monday, March 18th. They set an equal weight rating and a $87.00 price target for the company. Mizuho reduced their price target on shares of Crown from $105.00 to $96.00 and set a buy rating for the company in a research report on Tuesday, February 6th. Wolfe Research assumed coverage on shares of Crown in a research report on Friday, March 1st. They set an outperform rating and a $102.00 price target for the company. Finally, Robert W. Baird boosted their price target on shares of Crown from $90.00 to $100.00 and gave the company an outperform rating in a research report on Wednesday. Four research analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. According to MarketBeat.com, Crown has an average rating of Moderate Buy and a consensus target price of $99.29.

Crown Stock Up 1.1 %

Crown stock opened at $83.00 on Wednesday. Crown has a 1-year low of $69.61 and a 1-year high of $96.35. The firm has a market capitalization of $10.03 billion, a price-to-earnings ratio of 23.92, a P/E/G ratio of 2.75 and a beta of 0.91. The company has a current ratio of 1.15, a quick ratio of 0.77 and a debt-to-equity ratio of 2.34. The firm has a 50 day simple moving average of $77.94 and a 200 day simple moving average of $82.62.

Crown (NYSE:CCK) last released its quarterly earnings data on Monday, April 29th. The industrial products company reported $1.02 earnings per share for the quarter, beating analysts’ consensus estimates of $0.96 by $0.06. Crown had a net margin of 3.51% and a return on equity of 24.23%. The business had revenue of $2.78 billion during the quarter, compared to analyst estimates of $2.93 billion. During the same period in the previous year, the business earned $1.20 EPS. Crown’s revenue was down 6.4% compared to the same quarter last year. On average, analysts predict that Crown will post 5.9 earnings per share for the current year.

Crown Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, March 28th. Shareholders of record on Thursday, March 14th were paid a $0.25 dividend. The ex-dividend date of this dividend was Wednesday, March 13th. This is an increase from Crown’s previous quarterly dividend of $0.24. This represents a $1.00 annualized dividend and a yield of 1.20%. Crown’s payout ratio is currently 28.82%.

Insiders Place Their Bets

In other Crown news, CEO Timothy J. Donahue sold 22,500 shares of the business’s stock in a transaction on Tuesday, April 30th. The shares were sold at an average price of $85.18, for a total value of $1,916,550.00. Following the completion of the sale, the chief executive officer now directly owns 616,178 shares of the company’s stock, valued at $52,486,042.04. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.90% of the stock is currently owned by insiders.

Institutional Trading of Crown

Several hedge funds have recently added to or reduced their stakes in CCK. Norges Bank bought a new stake in Crown in the fourth quarter worth $109,826,000. Clearbridge Investments LLC lifted its stake in Crown by 474.8% in the fourth quarter. Clearbridge Investments LLC now owns 1,214,618 shares of the industrial products company’s stock worth $111,854,000 after purchasing an additional 1,003,312 shares during the last quarter. Boston Partners bought a new stake in Crown in the fourth quarter worth $84,960,000. Toronto Dominion Bank lifted its stake in Crown by 41.9% in the third quarter. Toronto Dominion Bank now owns 2,213,904 shares of the industrial products company’s stock worth $195,886,000 after purchasing an additional 654,082 shares during the last quarter. Finally, Hsbc Holdings PLC raised its stake in shares of Crown by 46.7% during the third quarter. Hsbc Holdings PLC now owns 1,414,343 shares of the industrial products company’s stock valued at $125,449,000 after acquiring an additional 450,087 shares during the last quarter. 90.93% of the stock is owned by institutional investors.

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.