Wells Fargo & Company Cuts Crown (NYSE:CCK) Price Target to $88.00

Crown (NYSE:CCK) had its target price reduced by Wells Fargo & Company from $105.00 to $88.00 in a research report report published on Monday morning,Benzinga reports. Wells Fargo & Company currently has an equal weight rating on the industrial products company’s stock.

A number of other research firms have also recently commented on CCK. Citigroup increased their price target on shares of Crown from $100.00 to $110.00 and gave the company a “buy” rating in a report on Wednesday, October 2nd. Barclays increased their target price on Crown from $100.00 to $112.00 and gave the company an “overweight” rating in a research note on Monday, October 21st. Loop Capital boosted their price target on Crown from $120.00 to $129.00 and gave the stock a “buy” rating in a research note on Monday, October 21st. Morgan Stanley increased their price objective on Crown from $105.00 to $109.00 and gave the company an “equal weight” rating in a research report on Monday, October 21st. Finally, Robert W. Baird boosted their target price on Crown from $100.00 to $110.00 and gave the stock an “outperform” rating in a research report on Monday, October 21st. Three research 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 has an average rating of “Moderate Buy” and a consensus target price of $104.62.

Crown Stock Down 0.5 %

CCK stock opened at $79.94 on Monday. The business has a 50 day moving average of $88.54 and a 200 day moving average of $87.79. The firm has a market cap of $9.56 billion, a PE ratio of 98.69, a price-to-earnings-growth ratio of 1.95 and a beta of 0.86. 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.

Crown (NYSE:CCK) last issued its quarterly earnings results on Thursday, October 17th. The industrial products company reported $1.99 earnings per share for the quarter, beating the consensus estimate of $1.81 by $0.18. The firm 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%. On average, research analysts forecast that Crown will post 6.34 EPS for the current fiscal year.

Crown Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, November 27th. Stockholders of record on Thursday, November 14th were given a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.25%. The ex-dividend date was Thursday, November 14th. Crown’s payout ratio is 123.46%.

Insider Buying and Selling

In related news, CEO Timothy J. Donahue sold 7,500 shares of the company’s stock in a transaction on Wednesday, November 6th. The shares were sold at an average price of $96.73, for a total value of $725,475.00. Following the completion of the transaction, the chief executive officer now owns 563,678 shares of the company’s stock, valued at approximately $54,524,572.94. This represents a 1.31 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, COO Gerard H. Gifford sold 10,000 shares of the business’s stock in a transaction dated Wednesday, October 23rd. The shares were sold at an average price of $95.89, for a total value of $958,900.00. Following the completion of the transaction, the chief operating officer now owns 114,402 shares in the company, valued at $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 insiders.

Institutional Trading of Crown

Several institutional investors have recently made changes to their positions in CCK. CIBC Asset Management Inc grew its holdings in Crown by 5.4% during the 2nd quarter. CIBC Asset Management Inc now owns 4,079 shares of the industrial products company’s stock valued at $303,000 after buying an additional 209 shares in the last quarter. Savant Capital LLC grew its stake in Crown by 240.8% during the second quarter. Savant Capital LLC now owns 10,797 shares of the industrial products company’s stock valued at $803,000 after acquiring an additional 7,629 shares in the last quarter. Acadian Asset Management LLC bought a new stake in Crown in the 2nd quarter valued at $203,000. Oak Thistle LLC lifted its stake in Crown by 118.4% in the 2nd quarter. Oak Thistle LLC now owns 10,498 shares of the industrial products company’s stock worth $781,000 after purchasing an additional 5,692 shares in the last quarter. Finally, Davis Selected Advisers bought a new position in shares of Crown during the 2nd quarter valued at about $638,000. 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.