Crown (NYSE:CCK) Hits New 52-Week High at $96.21

Crown Holdings, Inc. (NYSE:CCK) shares hit a new 52-week high during mid-day trading on Tuesday . The stock 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.

Wall Street Analyst Weigh In

A number of analysts recently commented on CCK shares. StockNews.com lowered Crown from a “buy” rating to a “hold” rating in a research report on Monday, September 9th. Truist Financial raised their price objective on shares of Crown from $88.00 to $95.00 and gave the company a “hold” rating in a research note on Wednesday, July 24th. Morgan Stanley increased their price target on Crown from $92.00 to $105.00 and gave the company an “equal weight” rating in a research note on Wednesday, September 4th. UBS Group decreased their price objective on Crown from $112.00 to $91.00 and set a “buy” rating for the company in a research note on Wednesday, July 17th. Finally, Wells Fargo & Company raised their target price on Crown from $85.00 to $88.00 and gave the stock an “equal weight” rating in a report on Wednesday, July 24th. Four analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $101.14.

Crown Trading Up 0.8 %

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. The company has a current ratio of 1.05, a quick ratio of 0.73 and a debt-to-equity ratio of 2.00. The firm has a 50-day moving average price of $87.82 and a 200-day moving average price of $82.30.

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

Crown Announces Dividend

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

Insider Activity at Crown

In related news, CEO Timothy J. Donahue sold 7,500 shares of the company’s stock in a transaction that occurred on Wednesday, August 7th. The shares were sold at an average price of $85.85, for a total transaction of $643,875.00. Following the sale, the chief executive officer now directly owns 586,178 shares in the company, valued at approximately $50,323,381.30. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In other Crown news, CEO Timothy J. Donahue sold 15,000 shares of the 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 sale, the chief executive officer now directly owns 593,678 shares in the company, valued at approximately $50,480,440.34. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Timothy J. Donahue sold 7,500 shares of the stock in a transaction on Wednesday, August 7th. The stock was sold at an average price of $85.85, for a total value of $643,875.00. Following the completion of the sale, the chief executive officer now owns 586,178 shares in the company, valued at approximately $50,323,381.30. The disclosure for this sale can be found here. In the last three months, insiders have sold 30,000 shares of company stock worth $2,598,675. Company insiders own 0.90% of the company’s stock.

Institutional Trading of Crown

A number of hedge funds have recently made changes to their positions in CCK. Envestnet Portfolio Solutions Inc. lifted its stake in Crown by 6.9% during the fourth quarter. Envestnet Portfolio Solutions Inc. now owns 2,464 shares of the industrial products company’s stock worth $227,000 after purchasing an additional 160 shares during the last quarter. Janney Montgomery Scott LLC boosted its stake in shares of Crown by 5.7% during the fourth quarter. Janney Montgomery Scott LLC now owns 9,294 shares of the industrial products company’s stock valued at $856,000 after purchasing an additional 503 shares during the period. UBS Group AG grew its holdings in shares of Crown by 21.7% in the fourth quarter. UBS Group AG now owns 225,864 shares of the industrial products company’s stock worth $20,800,000 after purchasing an additional 40,318 shares during the last quarter. Wells Fargo & Company MN increased its stake in shares of Crown by 14.4% in the fourth quarter. Wells Fargo & Company MN now owns 165,255 shares of the industrial products company’s stock worth $15,218,000 after buying an additional 20,830 shares during the period. Finally, Quest Partners LLC bought a new stake in Crown during the 4th quarter valued at $34,000. 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.