Citigroup Cuts Crown (NYSE:CCK) Price Target to $124.00

Crown (NYSE:CCK) had its target price lowered by Citigroup from $135.00 to $124.00 in a research note issued to investors on Monday morning,Benzinga reports. Citigroup currently has a buy rating on the industrial products company’s stock.

CCK has been the topic of a number of other research reports. Mizuho lifted their price target on shares of Crown from $110.00 to $127.00 and gave the stock an “outperform” rating in a report on Tuesday, July 15th. UBS Group lifted their target price on Crown from $125.00 to $130.00 and gave the stock a “buy” rating in a report on Tuesday, July 22nd. Wells Fargo & Company upped their price target on Crown from $101.00 to $110.00 and gave the company an “equal weight” rating in a research report on Friday, July 18th. Morgan Stanley raised their price objective on Crown from $114.00 to $118.00 and gave the stock an “overweight” rating in a research report on Wednesday, June 25th. Finally, Robert W. Baird lifted their price objective on Crown from $105.00 to $110.00 and gave the stock a “neutral” rating in a research note on Wednesday, July 23rd. Ten equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $120.25.

Crown Stock Performance

NYSE:CCK opened at $96.79 on Monday. The stock’s 50-day moving average is $98.21 and its 200-day moving average is $96.95. Crown has a 1-year low of $75.98 and a 1-year high of $109.48. The company has a current ratio of 1.06, a quick ratio of 0.69 and a debt-to-equity ratio of 1.67. The stock has a market cap of $11.26 billion, a P/E ratio of 20.33, a price-to-earnings-growth ratio of 1.48 and a beta of 0.73.

Crown (NYSE:CCK) last issued its quarterly earnings data on Monday, July 21st. The industrial products company reported $2.15 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.86 by $0.29. Crown had a net margin of 4.64% and a return on equity of 27.15%. The business had revenue of $3.15 billion during the quarter, compared to analyst estimates of $3.10 billion. During the same quarter last year, the business earned $1.81 EPS. The firm’s quarterly revenue was up 3.6% on a year-over-year basis. Crown has set its FY 2025 guidance at 7.100-7.500 EPS. Q3 2025 guidance at 1.950-2.050 EPS. Equities research analysts anticipate that Crown will post 6.96 earnings per share for the current year.

Crown Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, August 21st. Investors of record on Thursday, August 7th were given a dividend of $0.26 per share. The ex-dividend date was Thursday, August 7th. This represents a $1.04 annualized dividend and a dividend yield of 1.1%. Crown’s dividend payout ratio is presently 21.85%.

Insider Buying and Selling

In other Crown news, CAO Gerard H. Gifford sold 8,222 shares of Crown stock in a transaction that occurred on Friday, July 25th. The stock was sold at an average price of $102.93, for a total value of $846,290.46. Following the completion of the sale, the chief accounting officer directly owned 122,585 shares in the company, valued at approximately $12,617,674.05. The trade was a 6.29% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Timothy J. Donahue sold 13,000 shares of the firm’s stock in a transaction that occurred on Thursday, August 21st. The stock was sold at an average price of $100.52, for a total transaction of $1,306,760.00. Following the sale, the chief executive officer directly owned 449,056 shares of the company’s stock, valued at approximately $45,139,109.12. This trade represents a 2.81% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 58,222 shares of company stock valued at $5,873,770. 0.90% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Crown

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Norges Bank bought a new position in shares of Crown during the 2nd quarter worth about $184,046,000. Invesco Ltd. grew its stake in Crown by 412.2% in the first quarter. Invesco Ltd. now owns 1,719,296 shares of the industrial products company’s stock valued at $153,464,000 after acquiring an additional 1,383,624 shares during the period. Swedbank AB increased its holdings in shares of Crown by 114.7% during the first quarter. Swedbank AB now owns 1,476,566 shares of the industrial products company’s stock valued at $131,798,000 after acquiring an additional 788,818 shares in the last quarter. AQR Capital Management LLC increased its holdings in shares of Crown by 43.3% during the second quarter. AQR Capital Management LLC now owns 2,533,612 shares of the industrial products company’s stock valued at $260,835,000 after acquiring an additional 765,136 shares in the last quarter. Finally, Albar Capital Partners LLP acquired a new position in shares of Crown during the second quarter worth approximately $54,736,000. 90.93% of the stock is owned by institutional investors.

About Crown

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.