Crown (NYSE:CCK) Sets New 1-Year High at $93.79

Crown Holdings, Inc. (NYSE:CCK) reached a new 52-week high during mid-day trading on Wednesday . The stock traded as high as $93.79 and last traded at $93.42, with a volume of 364687 shares trading hands. The stock had previously closed at $92.22.

Analyst Ratings Changes

Several research analysts recently commented on the stock. Bank of America raised their price objective on shares of Crown from $98.00 to $102.00 and gave the stock a “buy” rating in a report on Wednesday, July 24th. Loop Capital raised their price target on Crown from $106.00 to $120.00 and gave the stock a “buy” rating in a report on Wednesday, July 24th. StockNews.com lowered Crown from a “buy” rating to a “hold” rating in a research note on Monday, September 9th. UBS Group reduced their target price on Crown from $112.00 to $91.00 and set a “buy” rating for the company in a report on Wednesday, July 17th. Finally, Royal Bank of Canada upped their price target on Crown from $96.00 to $105.00 and gave the company an “outperform” rating in a research report on Friday, July 26th. Four research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $101.14.

Crown Price Performance

The stock has a market capitalization of $11.25 billion, a P/E ratio of 26.58, a price-to-earnings-growth ratio of 2.13 and a beta of 0.85. The company has a debt-to-equity ratio of 2.00, a quick ratio of 0.73 and a current ratio of 1.05. The firm has a 50-day moving average price of $86.27 and a 200 day moving average price of $81.79.

Crown (NYSE:CCK) last posted its quarterly earnings results 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 firm had revenue of $3.04 billion for the quarter, compared to the consensus estimate of $3.06 billion. During the same period last year, the firm posted $1.68 earnings per share. The business’s revenue was down 2.2% compared to the same quarter last year. On average, analysts expect that Crown Holdings, Inc. will post 6.15 EPS for the current year.

Crown Dividend Announcement

The business also recently disclosed 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 of this dividend was Thursday, August 15th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.07%. Crown’s dividend payout ratio (DPR) is currently 28.82%.

Insider Activity at Crown

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

Hedge Funds Weigh In On Crown

Institutional investors have recently bought and sold shares of the stock. Sessa Capital IM L.P. raised its position in shares of Crown by 153.0% in the 2nd quarter. Sessa Capital IM L.P. now owns 3,289,374 shares of the industrial products company’s stock worth $244,697,000 after acquiring an additional 1,989,374 shares in the last quarter. 1832 Asset Management L.P. purchased a new position in Crown during the first quarter valued at $119,167,000. Norges Bank bought a new stake in shares of Crown during the 4th quarter valued at $109,826,000. Clearbridge Investments LLC increased its stake in shares of Crown by 474.8% in the 4th quarter. Clearbridge Investments LLC now owns 1,214,618 shares of the industrial products company’s stock worth $111,854,000 after acquiring an additional 1,003,312 shares in the last quarter. Finally, AQR Capital Management LLC lifted its position in Crown by 121.7% during the 2nd quarter. AQR Capital Management LLC now owns 736,478 shares of the industrial products company’s stock valued at $54,787,000 after acquiring an additional 404,250 shares during the period. 90.93% of the stock is owned by institutional investors.

Crown Company Profile

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.