Crown (NYSE:CCK) Hits New 1-Year High – Time to Buy?

Crown Holdings, Inc. (NYSE:CCK)’s share price reached a new 52-week high during mid-day trading on Monday . The stock traded as high as $99.16 and last traded at $99.20, with a volume of 272 shares. The stock had previously closed at $96.98.

Analysts Set New Price Targets

CCK has been the subject of a number of research analyst reports. Mizuho upped their price target on shares of Crown from $105.00 to $110.00 and gave the stock an “outperform” rating in a research note on Tuesday, April 29th. Truist Financial lowered their target price on Crown from $107.00 to $97.00 and set a “hold” rating for the company in a research note on Tuesday, April 22nd. Barclays increased their target price on Crown from $109.00 to $117.00 and gave the stock an “overweight” rating in a research note on Wednesday, April 30th. Morgan Stanley upgraded shares of Crown from an “equal weight” rating to an “overweight” rating and cut their target price for the company from $109.00 to $105.00 in a research note on Monday, January 13th. Finally, UBS Group upped their price objective on shares of Crown from $109.00 to $114.00 and gave the stock a “buy” rating in a research report on Tuesday, April 29th. Two investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. According to MarketBeat, Crown presently has an average rating of “Moderate Buy” and an average price target of $110.45.

Crown Stock Performance

The stock has a 50-day moving average price of $88.87 and a 200 day moving average price of $88.28. The company has a debt-to-equity ratio of 1.88, a current ratio of 1.22 and a quick ratio of 0.80. The company has a market cap of $11.35 billion, a price-to-earnings ratio of 27.42, a price-to-earnings-growth ratio of 1.56 and a beta of 0.76.

Crown (NYSE:CCK) last issued its quarterly earnings data on Monday, April 28th. The industrial products company reported $1.67 earnings per share for the quarter, beating the consensus estimate of $1.22 by $0.45. The business had revenue of $2.89 billion for the quarter, compared to analysts’ expectations of $2.82 billion. Crown had a return on equity of 25.12% and a net margin of 3.59%. The business’s revenue was up 3.7% on a year-over-year basis. During the same period last year, the business earned $1.02 EPS. As a group, analysts anticipate that Crown Holdings, Inc. will post 6.96 EPS for the current fiscal year.

Crown Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, May 29th. Investors of record on Thursday, May 15th will be issued a dividend of $0.26 per share. The ex-dividend date of this dividend is Thursday, May 15th. This represents a $1.04 dividend on an annualized basis and a yield of 1.07%. Crown’s payout ratio is 22.37%.

Insiders Place Their Bets

In related news, COO Gerard H. Gifford sold 7,000 shares of the company’s stock in a transaction that occurred on Friday, May 2nd. The stock was sold at an average price of $97.00, for a total value of $679,000.00. Following the sale, the chief operating officer now owns 135,014 shares in the company, valued at $13,096,358. This represents a 4.93% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Insiders own 0.90% of the company’s stock.

Institutional Trading of Crown

A number of large investors have recently modified their holdings of CCK. Larson Financial Group LLC boosted its holdings in Crown by 47.6% during the first quarter. Larson Financial Group LLC now owns 332 shares of the industrial products company’s stock valued at $30,000 after acquiring an additional 107 shares during the period. Farther Finance Advisors LLC increased its position in Crown by 160.0% during the fourth quarter. Farther Finance Advisors LLC now owns 416 shares of the industrial products company’s stock worth $34,000 after acquiring an additional 256 shares during the period. Signaturefd LLC boosted its stake in shares of Crown by 161.2% in the 1st quarter. Signaturefd LLC now owns 397 shares of the industrial products company’s stock valued at $35,000 after purchasing an additional 245 shares in the last quarter. GAMMA Investing LLC grew its position in shares of Crown by 84.2% in the 4th quarter. GAMMA Investing LLC now owns 571 shares of the industrial products company’s stock valued at $47,000 after buying an additional 261 shares during the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. boosted its position in shares of Crown by 20.0% during the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 702 shares of the industrial products company’s stock worth $57,000 after purchasing an additional 117 shares in the last quarter. Institutional investors and hedge funds own 90.93% of the company’s stock.

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.