Mizuho Issues Pessimistic Forecast for Crown (NYSE:CCK) Stock Price

Crown (NYSE:CCK) had its price target trimmed by Mizuho from $110.00 to $100.00 in a research note issued to investors on Tuesday,Benzinga reports. They currently have an outperform rating on the industrial products company’s stock.

CCK has been the topic of several other research reports. Loop Capital increased their target price on shares of Crown from $120.00 to $129.00 and gave the company a “buy” rating in a report on Monday, October 21st. StockNews.com raised Crown from a “hold” rating to a “buy” rating in a research note on Thursday, January 2nd. Robert W. Baird lifted their price objective on Crown from $100.00 to $110.00 and gave the stock an “outperform” rating in a report on Monday, October 21st. Truist Financial increased their target price on Crown from $103.00 to $104.00 and gave the company a “hold” rating in a report on Monday. Finally, Wells Fargo & Company decreased their price target on Crown from $105.00 to $88.00 and set an “equal weight” rating on the stock in a research note on Monday. Three analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $104.62.

Crown Trading Up 0.2 %

NYSE CCK opened at $80.27 on Tuesday. The stock’s 50-day simple moving average is $88.54 and its two-hundred day simple moving average is $87.79. 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 company has a market capitalization of $9.60 billion, a price-to-earnings ratio of 99.10, a PEG ratio of 1.95 and a beta of 0.86.

Crown (NYSE:CCK) last released its earnings results on Thursday, October 17th. The industrial products company reported $1.99 earnings per share for the quarter, topping analysts’ consensus estimates of $1.81 by $0.18. The company had revenue of $3.07 billion during the quarter, compared to the consensus estimate of $3.07 billion. Crown had a return on equity of 24.57% and a net margin of 0.83%. Research analysts forecast that Crown will post 6.34 EPS for the current fiscal year.

Crown Dividend Announcement

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 1.25%. Crown’s dividend payout ratio is 123.46%.

Insider Activity at Crown

In other news, CEO Timothy J. Donahue sold 7,500 shares of the business’s stock in a transaction on Wednesday, November 6th. The shares were sold at an average price of $96.73, for a total transaction of $725,475.00. Following the sale, the chief executive officer now 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 sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, COO Gerard H. Gifford sold 10,000 shares of the stock in a transaction dated Wednesday, October 23rd. The stock was sold at an average price of $95.89, for a total transaction of $958,900.00. Following the completion of the transaction, the chief operating officer now owns 114,402 shares of the company’s stock, valued at approximately $10,970,007.78. The trade was a 8.04 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.90% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Crown

A number of hedge funds and other institutional investors have recently bought and sold shares of CCK. GAMMA Investing LLC lifted its holdings in shares of Crown by 110.9% during the third quarter. GAMMA Investing LLC now owns 310 shares of the industrial products company’s stock valued at $30,000 after purchasing an additional 163 shares during the last quarter. Covestor Ltd raised its stake in Crown by 156.5% during the third 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 last quarter. Brooklyn Investment Group purchased a new position in Crown during the third quarter valued at $44,000. Catalyst Capital Advisors LLC purchased a new stake in shares of Crown in the third quarter worth $48,000. Finally, Mirae Asset Global Investments Co. Ltd. bought a new position in shares of Crown during the third quarter valued at $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.