Crown (NYSE:CCK) Downgraded by Wall Street Zen to Hold

Wall Street Zen cut shares of Crown (NYSE:CCK) from a buy rating to a hold rating in a research note issued to investors on Saturday morning,Wall Street Zen reports.

A number of other analysts have also commented on CCK. Raymond James Financial lifted their price target on shares of Crown from $125.00 to $135.00 and gave the stock an “outperform” rating in a research note on Wednesday, July 15th. UBS Group increased their price objective on shares of Crown from $116.00 to $118.00 and gave the company a “neutral” rating in a research report on Wednesday, October 21st. JPMorgan Chase & Co. upgraded shares of Crown from a “neutral” rating to an “overweight” rating and set a $121.00 price objective on the stock in a research report on Friday, September 18th. Truist Financial restated a “buy” rating and issued a $141.00 target price (up from $129.00) on shares of Crown in a report on Wednesday, July 22nd. Finally, Robert W. Baird lifted their target price on shares of Crown from $120.00 to $130.00 and gave the stock a “neutral” rating in a research report on Wednesday, July 22nd. Twelve analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $128.47.

Crown Trading Up 0.9%

Shares of NYSE:CCK opened at $119.30 on Friday. The company has a market cap of $12.89 billion, a P/E ratio of 16.62, a PEG ratio of 1.49 and a beta of 0.56. The company has a debt-to-equity ratio of 1.65, a current ratio of 1.14 and a quick ratio of 0.71. Crown has a 1 year low of $91.31 and a 1 year high of $122.91. The stock’s fifty day moving average price is $112.79 and its 200-day moving average price is $108.45.

Crown (NYSE:CCK) last released its quarterly earnings data on Monday, October 19th. The industrial products company reported $2.39 EPS for the quarter, beating the consensus estimate of $2.26 by $0.13. Crown had a return on equity of 27.41% and a net margin of 5.78%. The company had revenue of $3.71 billion for the quarter, compared to analysts’ expectations of $3.45 billion. During the same period last year, the firm posted $2.24 earnings per share. Crown’s revenue was up 15.9% compared to the same quarter last year. Sell-side analysts expect that Crown will post 8.41 earnings per share for the current year.

Crown Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, November 19th. Shareholders of record on Thursday, November 5th will be given a $0.35 dividend. This represents a $1.40 annualized dividend and a yield of 1.2%. The ex-dividend date of this dividend is Thursday, November 5th. Crown’s dividend payout ratio (DPR) is presently 19.50%.

Institutional Investors Weigh In On Crown

A number of large investors have recently made changes to their positions in CCK. Childress Capital Advisors LLC lifted its stake in shares of Crown by 1.4% in the 3rd quarter. Childress Capital Advisors LLC now owns 7,901 shares of the industrial products company’s stock worth $833,000 after purchasing an additional 108 shares during the period. Anchor Investment Management LLC grew its position in Crown by 5.8% during the second quarter. Anchor Investment Management LLC now owns 1,974 shares of the industrial products company’s stock valued at $221,000 after buying an additional 109 shares during the period. Sumitomo Mitsui Trust Group Inc. grew its position in Crown by 2.1% during the first quarter. Sumitomo Mitsui Trust Group Inc. now owns 5,838 shares of the industrial products company’s stock valued at $585,000 after buying an additional 121 shares during the period. Amova Asset Management Americas Inc. grew its position in Crown by 2.1% during the first quarter. Amova Asset Management Americas Inc. now owns 5,838 shares of the industrial products company’s stock valued at $585,000 after buying an additional 121 shares during the period. Finally, Oregon Public Employees Retirement Fund increased its holdings in Crown by 0.7% during the first quarter. Oregon Public Employees Retirement Fund now owns 22,972 shares of the industrial products company’s stock valued at $2,303,000 after buying an additional 152 shares during the last quarter. 90.93% of the stock is currently owned by institutional investors.

Crown Company Profile

Crown Holdings, Inc (NYSE: CCK) is a global packaging company that designs, manufactures and sells metal packaging products. Its portfolio includes beverage cans, food cans, aerosol cans, closures and other specialty packaging used by consumer goods, food and beverage, household, personal care and industrial customers.

The company serves customers across North America, Europe, Asia Pacific and other international markets. Crown’s products are used for beer, soft drinks, energy drinks, canned foods, household products, personal care items and industrial materials.