Crown (NYSE:CCK) Hits New 12-Month High at $96.21

Crown Holdings, Inc. (NYSE:CCK)’s stock price hit a new 52-week high during mid-day trading on Tuesday . The company traded as high as $96.21 and last traded at $95.95, with a volume of 19421 shares changing hands. The stock had previously closed at $95.48.

Analyst Ratings Changes

A number of research analysts have commented on CCK shares. Citigroup upped their price target on Crown from $94.00 to $100.00 and gave the company a “buy” rating in a research report on Thursday, July 25th. Truist Financial raised their price target on Crown from $88.00 to $95.00 and gave the stock a “hold” rating in a research note on Wednesday, July 24th. Morgan Stanley boosted their price objective on shares of Crown from $92.00 to $105.00 and gave the company an “equal weight” rating in a research report on Wednesday, September 4th. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $105.00 target price on shares of Crown in a research report on Tuesday. Finally, Wells Fargo & Company lifted their target price on shares of Crown from $85.00 to $88.00 and gave the company an “equal weight” rating in a research note on Wednesday, July 24th. Four research analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. According to MarketBeat.com, Crown presently has a consensus rating of “Moderate Buy” and a consensus target price of $101.14.

Crown Stock Up 0.8 %

The company has a quick ratio of 0.73, a current ratio of 1.05 and a debt-to-equity ratio of 2.00. The company’s fifty day moving average price is $87.82 and its 200-day moving average price is $82.30. The stock has a market capitalization of $11.62 billion, a PE ratio of 27.53, a price-to-earnings-growth ratio of 2.13 and a beta of 0.85.

Crown (NYSE:CCK) last announced its quarterly earnings data on Monday, July 22nd. The industrial products company reported $1.81 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.59 by $0.22. Crown had a return on equity of 23.96% and a net margin of 3.68%. The business had revenue of $3.04 billion during the quarter, compared to analysts’ expectations of $3.06 billion. During the same quarter in the previous year, the business earned $1.68 earnings per share. The firm’s quarterly revenue was down 2.2% compared to the same quarter last year. Analysts forecast that Crown Holdings, Inc. will post 6.15 earnings per share for the current year.

Crown Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, August 29th. Investors of record on Thursday, August 15th were given a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 1.04%. The ex-dividend date was Thursday, August 15th. Crown’s dividend payout ratio (DPR) is 28.82%.

Insider Buying and Selling at Crown

In other news, CEO Timothy J. Donahue sold 15,000 shares of the company’s stock in a transaction that occurred on Tuesday, July 23rd. The shares were sold at an average price of $85.03, for a total value of $1,275,450.00. Following the transaction, the chief executive officer now owns 593,678 shares in the company, valued at $50,480,440.34. The sale was disclosed in a legal filing with the SEC, which is available at this link. In other Crown news, CEO Timothy J. Donahue sold 7,500 shares of the business’s stock in a transaction dated Friday, September 6th. The stock was sold at an average price of $90.58, for a total value of $679,350.00. Following the completion of the transaction, the chief executive officer now owns 578,678 shares of the company’s stock, valued at approximately $52,416,653.24. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Timothy J. Donahue sold 15,000 shares of the company’s stock in a transaction dated Tuesday, July 23rd. The shares were sold at an average price of $85.03, for a total transaction of $1,275,450.00. Following the transaction, the chief executive officer now owns 593,678 shares in the company, valued at approximately $50,480,440.34. The disclosure for this sale can be found here. In the last ninety days, insiders sold 30,000 shares of company stock worth $2,598,675. 0.90% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in CCK. Rise Advisors LLC bought a new position in Crown in the first quarter valued at about $27,000. Quest Partners LLC purchased a new stake in Crown in the fourth quarter worth about $34,000. Mather Group LLC. bought a new position in shares of Crown in the first quarter worth about $32,000. Quarry LP lifted its position in shares of Crown by 190.3% during the 4th quarter. Quarry LP now owns 421 shares of the industrial products company’s stock valued at $39,000 after buying an additional 276 shares in the last quarter. Finally, EntryPoint Capital LLC bought a new position in shares of Crown during the 1st quarter valued at approximately $41,000. 90.93% of the stock is owned by hedge funds and other 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.