CCK

Baird Upgrades Crown Holdings (CCK)

Fintel reports that on April 16, 2024, Baird upgraded their outlook for Crown Holdings (NYSE:CCK) from Neutral to Outperform.

Analyst Price Forecast Suggests 25.08% Upside

As of March 31, 2024, the average one-year price target for Crown Holdings is 95.31. The forecasts range from a low of 78.78 to a high of $117.60. The average price target represents an increase of 25.08% from its latest reported closing price of 76.20.

See our leaderboard of companies with the largest price target upside.

The projected annual revenue for Crown Holdings is 13,691MM, an increase of 14.00%. The projected annual non-GAAP EPS is 8.06.

Crown Holdings Declares $0.25 Dividend

On February 22, 2024 the company declared a regular quarterly dividend of $0.25 per share ($1.00 annualized). Shareholders of record as of March 14, 2024 received the payment on March 28, 2024. Previously, the company paid $0.24 per share.

At the current share price of $76.20 / share, the stock's dividend yield is 1.31%.

Looking back five years and taking a sample every week, the average dividend yield has been 1.14%, the lowest has been 0.64%, and the highest has been 2.20%. The standard deviation of yields is 0.30 (n=235).

The current dividend yield is 0.58 standard deviations above the historical average.

Additionally, the company's dividend payout ratio is 0.27. The payout ratio tells us how much of a company's income is paid out in dividends. A payout ratio of one (1.0) means 100% of the company's income is paid in a dividend. A payout ratio greater than one means the company is dipping into savings in order to maintain its dividend - not a healthy situation. Companies with few growth prospects are expected to pay out most of their income in dividends, which typically means a payout ratio between 0.5 and 1.0. Companies with good growth prospects are expected to retain some earnings in order to invest in those growth prospects, which translates to a payout ratio of zero to 0.5.

The company's 3-Year dividend growth rate is 0.25%, demonstrating that it has increased its dividend over time.

What is the Fund Sentiment?

There are 1014 funds or institutions reporting positions in Crown Holdings. This is an increase of 50 owner(s) or 5.19% in the last quarter. Average portfolio weight of all funds dedicated to CCK is 0.34%, a decrease of 13.83%. Total shares owned by institutions increased in the last three months by 0.84% to 136,204K shares. CCK / Crown Holdings, Inc. Put/Call Ratios The put/call ratio of CCK is 0.59, indicating a bullish outlook.

What are Other Shareholders Doing?

CCK / Crown Holdings, Inc. Shares Held by Institutions

Victory Capital Management holds 5,137K shares representing 4.25% ownership of the company. In it's prior filing, the firm reported owning 4,786K shares, representing an increase of 6.82%. The firm increased its portfolio allocation in CCK by 2.22% over the last quarter.

Janus Henderson Group holds 4,252K shares representing 3.52% ownership of the company. In it's prior filing, the firm reported owning 5,134K shares, representing a decrease of 20.75%. The firm decreased its portfolio allocation in CCK by 74.30% over the last quarter.

VTSMX - Vanguard Total Stock Market Index Fund Investor Shares holds 3,785K shares representing 3.13% ownership of the company. In it's prior filing, the firm reported owning 3,744K shares, representing an increase of 1.08%. The firm decreased its portfolio allocation in CCK by 5.97% over the last quarter.

IJH - iShares Core S&P Mid-Cap ETF holds 3,662K shares representing 3.03% ownership of the company. In it's prior filing, the firm reported owning 3,771K shares, representing a decrease of 2.96%. The firm decreased its portfolio allocation in CCK by 6.58% over the last quarter.

VETAX - Victory Sycamore Established Value Fund holds 3,539K shares representing 2.93% ownership of the company. In it's prior filing, the firm reported owning 3,362K shares, representing an increase of 5.00%. The firm increased its portfolio allocation in CCK by 2.13% over the last quarter.

Crown Holdings Background Information
(This description is provided by the company.)

Crown Holdings, Inc., through its subsidiaries, is a leading global supplier of rigid packaging products to consumer marketing companies, as well as transit and protective packaging products, equipment and services to a broad range of end markets. World headquarters are located in Yardley, Pennsylvania.

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This story originally appeared on Fintel.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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