Crown (NYSE:CCK) Reaches New 1-Year High - Here's Why

Crown Holdings, Inc. (NYSE:CCK - Get Free Report)'s share price hit a new 52-week high during trading on Tuesday . The company traded as high as $106.07 and last traded at $105.42, with a volume of 316741 shares trading hands. The stock had previously closed at $102.98.

Wall Street Analyst Weigh In

A number of analysts recently commented on CCK shares. Barclays raised their price target 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 boosted their price target on shares of Crown from $114.00 to $118.00 and gave the company an "overweight" rating in a research report on Wednesday, June 25th. Wall Street Zen raised Crown from a "buy" rating to a "strong-buy" rating in a research report on Saturday. Truist Financial decreased their target price on Crown from $107.00 to $97.00 and set a "hold" rating for the company in a research report on Tuesday, April 22nd. Finally, Royal Bank Of Canada lifted their price target on Crown from $115.00 to $120.00 and gave the company an "outperform" rating in a research report on Thursday, May 1st. Two research analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price of $111.64.

Crown Stock Performance

The company has a current ratio of 0.87, a quick ratio of 0.56 and a debt-to-equity ratio of 1.50. The firm has a market capitalization of $12.30 billion, a P/E ratio of 22.73, a price-to-earnings-growth ratio of 1.77 and a beta of 0.76. The business's 50 day simple moving average is $98.76 and its two-hundred day simple moving average is $90.49.

Crown (NYSE:CCK - Get Free Report) last announced its quarterly earnings data on Monday, April 28th. The industrial products company reported $1.67 earnings per share for the quarter, topping analysts' consensus estimates of $1.22 by $0.45. Crown had a net margin of 4.62% and a return on equity of 26.98%. The company had revenue of $2.89 billion during the quarter, compared to analyst estimates of $2.82 billion. During the same period in the previous year, the business earned $1.02 EPS. The firm's revenue for the quarter was up 3.7% on a year-over-year basis. Sell-side analysts anticipate that Crown Holdings, Inc. will post 6.96 EPS for the current fiscal year.

Crown Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, May 29th. Shareholders of record on Thursday, May 15th were given a $0.26 dividend. This represents a $1.04 dividend on an annualized basis and a yield of 0.98%. The ex-dividend date of this dividend was Thursday, May 15th. Crown's dividend payout ratio (DPR) is presently 22.37%.

Insider Buying and Selling at Crown

In other news, COO Gerard H. Gifford sold 7,000 shares of the company's stock in a transaction dated Friday, May 2nd. The shares were sold at an average price of $97.00, for a total transaction of $679,000.00. Following the completion of the sale, the chief operating officer owned 135,014 shares of the company's stock, valued at $13,096,358. This represents a 4.93% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, VP Christy L. Kalaus sold 2,130 shares of the firm's stock in a transaction that occurred on Friday, May 16th. The stock was sold at an average price of $99.41, for a total transaction of $211,743.30. Following the completion of the transaction, the vice president directly owned 4,500 shares in the company, valued at approximately $447,345. The trade was a 32.13% decrease in their position. The disclosure for this sale can be found here. 0.90% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Crown

A number of institutional investors have recently bought and sold shares of CCK. New York Life Investment Management LLC purchased a new position in shares of Crown during the 4th quarter valued at about $1,138,000. Proficio Capital Partners LLC bought a new stake in shares of Crown during the 4th quarter valued at $1,884,000. SVB Wealth LLC bought a new position in Crown in the 4th quarter worth $323,000. US Bancorp DE increased its stake in Crown by 41.5% in the 4th quarter. US Bancorp DE now owns 3,039 shares of the industrial products company's stock worth $251,000 after buying an additional 891 shares in the last quarter. Finally, Metis Global Partners LLC raised its holdings in Crown by 3.8% during the fourth quarter. Metis Global Partners LLC now owns 5,349 shares of the industrial products company's stock valued at $442,000 after acquiring an additional 194 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.