Crown (NYSE:CCK) Stock Price Down 9.3%

Crown Holdings, Inc. (NYSE:CCK – Get Rating)’s share price fell 9.3% on Thursday . The company traded as low as $90.06 and last traded at $90.06. 44,131 shares were traded during mid-day trading, a decline of 96% from the average session volume of 1,154,917 shares. The stock had previously closed at $99.31.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on CCK. Truist Financial decreased their price target on Crown from $147.00 to $130.00 and set a “buy” rating on the stock in a research note on Friday, July 22nd. Deutsche Bank Aktiengesellschaft decreased their price target on Crown from $137.00 to $135.00 in a research note on Tuesday, July 19th. Citigroup decreased their price target on Crown from $130.00 to $126.00 in a research note on Friday, July 22nd. Wells Fargo & Company decreased their price target on Crown from $110.00 to $100.00 and set an “equal weight” rating on the stock in a research note on Monday, July 18th. Finally, Robert W. Baird decreased their price target on Crown from $165.00 to $130.00 in a research note on Friday, July 22nd. Two investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $132.64.

Crown Stock Performance

The firm has a fifty day moving average of $95.78 and a 200-day moving average of $109.30. The stock has a market capitalization of $10.94 billion, a price-to-earnings ratio of -30.20, a PEG ratio of 2.38 and a beta of 1.13. The company has a quick ratio of 0.59, a current ratio of 0.95 and a debt-to-equity ratio of 2.50.

Crown (NYSE:CCK – Get Rating) last released its quarterly earnings results on Wednesday, July 20th. The industrial products company reported $2.10 earnings per share for the quarter, topping analysts’ consensus estimates of $2.03 by $0.07. Crown had a positive return on equity of 40.47% and a negative net margin of 3.07%. The company had revenue of $3.51 billion during the quarter, compared to analysts’ expectations of $3.20 billion. During the same period in the previous year, the firm posted $2.14 earnings per share. The business’s revenue for the quarter was up 22.9% compared to the same quarter last year. As a group, sell-side analysts anticipate that Crown Holdings, Inc. will post 7.76 EPS for the current year.

Crown Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, August 25th. Stockholders of record on Thursday, August 11th will be issued a $0.22 dividend. The ex-dividend date of this dividend is Wednesday, August 10th. This represents a $0.88 dividend on an annualized basis and a dividend yield of 0.97%. Crown’s dividend payout ratio (DPR) is -29.43%.

Insider Transactions at Crown

In other news, insider Djalma Novaes, Jr. sold 5,000 shares of the business’s stock in a transaction on Tuesday, May 31st. The stock was sold at an average price of $105.38, for a total value of $526,900.00. Following the completion of the transaction, the insider now directly owns 80,328 shares of the company’s stock, valued at $8,464,964.64. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders own 1.80% of the company’s stock.

Hedge Funds Weigh In On Crown

Several institutional investors have recently added to or reduced their stakes in CCK. Commonwealth Equity Services LLC increased its stake in Crown by 5.6% in the fourth quarter. Commonwealth Equity Services LLC now owns 4,942 shares of the industrial products company’s stock valued at $546,000 after purchasing an additional 261 shares during the last quarter. Yousif Capital Management LLC acquired a new position in Crown in the fourth quarter valued at $328,000. CWM LLC acquired a new position in Crown in the fourth quarter valued at $390,000. Raymond James Trust N.A. purchased a new stake in Crown during the fourth quarter valued at about $213,000. Finally, Nomura Asset Management Co. Ltd. grew its position in Crown by 14.4% during the fourth quarter. Nomura Asset Management Co. Ltd. now owns 29,525 shares of the industrial products company’s stock valued at $3,266,000 after acquiring an additional 3,723 shares during the period. 91.52% of the stock is currently owned by institutional investors and hedge funds.

Crown Company Profile

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Crown Holdings, Inc designs, manufactures, and sells packaging products and equipment for consumer goods and industrial products in the Americas, Europe, and the Asia Pacific. It offers products for consumer goods, including steel and aluminum cans for food and beverage industries. The company also provides products for industrial products, such as steel and plastic strap consumables and equipment, paper-based protective packaging, and plastic film consumables and equipment to metals, food and beverage, construction, agricultural, corrugated, and general industries.