Crown (NYSE:CCK) Reaches New 12-Month High - Still a Buy?

Crown Holdings, Inc. (NYSE:CCK - Get Free Report)'s stock price reached a new 52-week high on Monday . The stock traded as high as $108.79 and last traded at $108.36, with a volume of 17778 shares traded. The stock had previously closed at $107.90.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on CCK. UBS Group raised their price target on shares of Crown from $114.00 to $125.00 and gave the stock a "buy" rating in a research note on Wednesday. Wells Fargo & Company lifted their target price on shares of Crown from $89.00 to $101.00 and gave the stock an "equal weight" rating in a research note on Wednesday, April 30th. Truist Financial reduced their target price on shares of Crown from $107.00 to $97.00 and set a "hold" rating on the stock in a research note on Tuesday, April 22nd. Morgan Stanley lifted their target price on shares of Crown from $114.00 to $118.00 and gave the stock an "overweight" rating in a research note on Wednesday, June 25th. Finally, Mizuho lifted their target price 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. Two investment analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $115.73.

Crown Trading Down 0.1%

The firm has a market capitalization of $12.57 billion, a price-to-earnings ratio of 23.23, a PEG ratio of 1.86 and a beta of 0.76. The business's 50-day simple moving average is $100.73 and its two-hundred day simple moving average is $91.43. The company has a quick ratio of 0.56, a current ratio of 0.87 and a debt-to-equity ratio of 1.50.

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, beating analysts' consensus estimates of $1.22 by $0.45. The firm had revenue of $2.89 billion during the quarter, compared to analysts' expectations of $2.82 billion. Crown had a net margin of 4.62% and a return on equity of 26.98%. The business's quarterly revenue was up 3.7% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.02 earnings per share. Equities analysts forecast that Crown Holdings, Inc. will post 6.96 earnings per share for the current year.

Crown Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, May 29th. Investors of record on Thursday, May 15th were issued a $0.26 dividend. This represents a $1.04 dividend on an annualized basis and a dividend yield of 0.96%. The ex-dividend date was Thursday, May 15th. Crown's dividend payout ratio (DPR) is currently 22.37%.

Insider Buying and Selling

In related news, VP Christy L. Kalaus sold 2,130 shares of Crown stock in a transaction that occurred on Friday, May 16th. The shares were sold at an average price of $99.41, for a total value of $211,743.30. Following the completion of the transaction, the vice president owned 4,500 shares in the company, valued at approximately $447,345. The trade was a 32.13% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, COO Gerard H. Gifford sold 7,000 shares of Crown stock in a transaction that occurred on Friday, May 2nd. The stock was sold at an average price of $97.00, for a total transaction of $679,000.00. Following the completion of the transaction, 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 disclosure for this sale can be found here. Insiders own 0.90% of the company's stock.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in the company. Sivia Capital Partners LLC purchased a new position in Crown in the second quarter worth approximately $401,000. Pallas Capital Advisors LLC lifted its position in shares of Crown by 96.2% during the 2nd quarter. Pallas Capital Advisors LLC now owns 14,492 shares of the industrial products company's stock worth $1,492,000 after buying an additional 7,105 shares during the last quarter. OMNI 360 Wealth Inc. purchased a new stake in shares of Crown during the 2nd quarter worth approximately $258,000. Kera Capital Partners Inc. lifted its position in shares of Crown by 63.3% during the 2nd quarter. Kera Capital Partners Inc. now owns 5,397 shares of the industrial products company's stock worth $556,000 after buying an additional 2,093 shares during the last quarter. Finally, Swedbank AB lifted its position in shares of Crown by 114.7% during the 1st quarter. Swedbank AB now owns 1,476,566 shares of the industrial products company's stock worth $131,798,000 after buying an additional 788,818 shares during the last quarter. Hedge funds and other institutional investors 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.