Crown (NYSE:CCK) Price Target Raised to $110.00 at Wells Fargo & Company

Crown (NYSE:CCK) had its target price lifted by Wells Fargo & Company from $101.00 to $110.00 in a report issued on Friday,Benzinga reports. They currently have an equal weight rating on the industrial products company’s stock.

Several other equities analysts have also issued reports on CCK. Citigroup increased their target price on Crown from $119.00 to $129.00 and gave the stock a “buy” rating in a research note on Thursday, July 3rd. Bank of America upped their price target on Crown from $110.00 to $117.00 and gave the stock a “buy” rating in a report on Wednesday, July 9th. Morgan Stanley upped their price target on Crown from $114.00 to $118.00 and gave the stock an “overweight” rating in a report on Wednesday, June 25th. UBS Group upped their price target on Crown from $114.00 to $125.00 and gave the stock a “buy” rating in a report on Wednesday, July 9th. Finally, Barclays upped their price target on Crown from $109.00 to $117.00 and gave the stock an “overweight” rating in a report on Wednesday, April 30th. Four investment analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $119.45.

Crown Trading Up 0.0%

NYSE CCK traded up $0.01 on Friday, reaching $106.31. 756,944 shares of the company were exchanged, compared to its average volume of 1,235,711. The business’s fifty day moving average price is $102.07 and its 200 day moving average price is $92.57. The stock has a market capitalization of $12.37 billion, a P/E ratio of 22.86, a price-to-earnings-growth ratio of 1.74 and a beta of 0.76. The company has a current ratio of 0.87, a quick ratio of 0.56 and a debt-to-equity ratio of 1.50. Crown has a fifty-two week low of $75.98 and a fifty-two week high of $109.48.

Crown (NYSE:CCK) last announced its quarterly earnings results on Monday, April 28th. The industrial products company reported $1.67 EPS for the quarter, beating the consensus estimate of $1.22 by $0.45. Crown had a return on equity of 26.98% and a net margin of 4.62%. The business had revenue of $2.89 billion for the quarter, compared to analyst estimates of $2.82 billion. During the same quarter in the prior year, the company posted $1.02 EPS. The company’s quarterly revenue was up 3.7% on a year-over-year basis. Analysts forecast that Crown will post 6.96 earnings per share for the current year.

Crown Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, May 29th. Shareholders of record on Thursday, May 15th were given a dividend of $0.26 per share. The ex-dividend date of this dividend was Thursday, May 15th. This represents a $1.04 dividend on an annualized basis and a yield of 0.98%. Crown’s payout ratio is 22.37%.

Insider Buying and Selling

In other news, COO Gerard H. Gifford sold 7,000 shares of the firm’s stock in a transaction that occurred on Friday, May 2nd. The stock was sold at an average price of $97.00, for a total value of $679,000.00. Following the completion of the sale, the chief operating officer directly owned 135,014 shares of the company’s stock, valued at $13,096,358. This trade represents a 4.93% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP Christy L. Kalaus sold 2,130 shares of the firm’s stock in a transaction that occurred on Friday, May 16th. The shares were sold at an average price of $99.41, for a total value of $211,743.30. Following the completion of the sale, the vice president directly owned 4,500 shares of the company’s stock, valued at $447,345. This represents a 32.13% 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 company insiders.

Institutional Trading of Crown

Several hedge funds have recently modified their holdings of the business. Larson Financial Group LLC lifted its position in shares of Crown by 47.6% in the first quarter. Larson Financial Group LLC now owns 332 shares of the industrial products company’s stock valued at $30,000 after acquiring an additional 107 shares in the last quarter. Geneos Wealth Management Inc. grew its position in shares of Crown by 45.3% in the first quarter. Geneos Wealth Management Inc. now owns 356 shares of the industrial products company’s stock valued at $32,000 after purchasing an additional 111 shares during the period. Farther Finance Advisors LLC boosted its holdings in Crown by 160.0% in the fourth quarter. Farther Finance Advisors LLC now owns 416 shares of the industrial products company’s stock valued at $34,000 after acquiring an additional 256 shares during the last quarter. Signaturefd LLC boosted its holdings in Crown by 161.2% in the first quarter. Signaturefd LLC now owns 397 shares of the industrial products company’s stock valued at $35,000 after acquiring an additional 245 shares during the last quarter. Finally, National Pension Service boosted its holdings in Crown by 74.4% in the first quarter. National Pension Service now owns 443 shares of the industrial products company’s stock valued at $40,000 after acquiring an additional 189 shares during the last quarter. 90.93% of the stock is owned by institutional investors and hedge funds.

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.