Crown (NYSE:CCK) had its price target upped by Truist from $138.00 to $147.00 in a research report released on Wednesday, The Fly reports.
Other equities research analysts have also issued research reports about the company. Truist Securities began coverage on Crown in a research note on Tuesday, September 14th. They set a buy rating and a $138.00 price target for the company. Loop Capital began coverage on Crown in a research note on Tuesday, October 5th. They set a buy rating and a $165.00 price target for the company. Mizuho began coverage on Crown in a research note on Tuesday, October 12th. They set a buy rating and a $129.00 price target for the company. Jefferies Financial Group started coverage on Crown in a research note on Wednesday, September 15th. They set a buy rating and a $137.00 price target for the company. Finally, Seaport Res Ptn reiterated a buy rating on shares of Crown in a report on Wednesday, October 20th. Three analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. According to MarketBeat, Crown presently has an average rating of Buy and an average target price of $133.00.
NYSE:CCK opened at $113.13 on Wednesday. The firm has a market capitalization of $14.47 billion, a price-to-earnings ratio of 25.54, a P/E/G ratio of 2.87 and a beta of 1.17. Crown has a 52-week low of $85.65 and a 52-week high of $114.55. The stock has a fifty day moving average of $108.50 and a 200 day moving average of $105.92. The company has a debt-to-equity ratio of 2.09, a quick ratio of 0.80 and a current ratio of 1.10.
Crown declared that its Board of Directors has initiated a share repurchase plan on Thursday, December 9th that allows the company to buyback $3.00 billion in outstanding shares. This buyback authorization allows the industrial products company to reacquire up to 22.6% of its stock through open market purchases. Stock buyback plans are often an indication that the company’s board of directors believes its shares are undervalued.
The firm also recently declared a quarterly dividend, which was paid on Friday, November 26th. Investors of record on Friday, November 12th were issued a dividend of $0.20 per share. The ex-dividend date was Wednesday, November 10th. This represents a $0.80 dividend on an annualized basis and a yield of 0.71%. Crown’s dividend payout ratio is presently 18.06%.
A number of large investors have recently made changes to their positions in CCK. First Horizon Advisors Inc. purchased a new position in Crown during the 3rd quarter valued at about $29,000. Advisory Services Network LLC purchased a new position in shares of Crown during the 2nd quarter worth approximately $30,000. Penserra Capital Management LLC grew its holdings in shares of Crown by 30.8% during the 2nd quarter. Penserra Capital Management LLC now owns 433 shares of the industrial products company’s stock worth $44,000 after acquiring an additional 102 shares during the period. Koshinski Asset Management Inc. purchased a new position in shares of Crown during the 4th quarter worth approximately $66,000. Finally, O Shaughnessy Asset Management LLC grew its holdings in shares of Crown by 20.8% during the 2nd quarter. O Shaughnessy Asset Management LLC now owns 836 shares of the industrial products company’s stock worth $85,000 after acquiring an additional 144 shares during the period. Institutional investors own 87.16% of the company’s stock.
Crown Holdings, Inc engages in the design, manufacture, and sale of packaging products and equipment for consumer goods. The firm offers aerosol cans; beverage, promotional, and transit packaging; closures and capping; and food cans. It operates through the following segments: Americas, Europe, Asia Pacific, and Transit Packaging.
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