Crown (NYSE:CCK) Sets New 12-Month High - What's Next?

Crown Holdings, Inc. (NYSE:CCK - Get Free Report) hit a new 52-week high during trading on Monday . The company traded as high as $100.24 and last traded at $100.13, with a volume of 1117686 shares trading hands. The stock had previously closed at $99.45.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on CCK. Wells Fargo & Company upped their target price on Crown from $89.00 to $101.00 and gave the company an "equal weight" rating in a research note on Wednesday, April 30th. Barclays upped their target price on Crown from $109.00 to $117.00 and gave the company an "overweight" rating in a research note on Wednesday, April 30th. UBS Group upped their target price on Crown from $109.00 to $114.00 and gave the company a "buy" rating in a research note on Tuesday, April 29th. StockNews.com upgraded Crown from a "hold" rating to a "buy" rating in a research note on Friday, February 7th. Finally, Mizuho upped their target price on Crown from $105.00 to $110.00 and gave the company an "outperform" rating in a research note on Tuesday, April 29th. Two equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the company's stock. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $110.45.

Crown Stock Up 0.7%

The business has a 50-day simple moving average of $89.98 and a two-hundred day simple moving average of $88.48. The stock has a market capitalization of $11.65 billion, a P/E ratio of 28.13, a PEG ratio of 1.56 and a beta of 0.76. The company has a quick ratio of 0.80, a current ratio of 1.22 and a debt-to-equity ratio of 1.88.

Crown (NYSE:CCK - Get Free Report) last announced its quarterly earnings results 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. Crown had a return on equity of 25.12% and a net margin of 3.59%. The firm had revenue of $2.89 billion for the quarter, compared to analysts' expectations of $2.82 billion. During the same period in the prior year, the business posted $1.02 earnings per share. The business's revenue was up 3.7% compared to the same quarter last year. Equities research analysts forecast that Crown Holdings, Inc. will post 6.96 earnings per share for the current fiscal year.

Crown Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, May 29th. Stockholders of record on Thursday, May 15th will be issued a dividend of $0.26 per share. This represents a $1.04 annualized dividend and a dividend yield of 1.04%. The ex-dividend date of this dividend is Thursday, May 15th. Crown's payout ratio is presently 22.37%.

Insider Transactions at Crown

In other news, VP Christy L. Kalaus sold 2,130 shares of the stock in a transaction 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 sale, the vice president now owns 4,500 shares in the company, valued at approximately $447,345. This represents a 32.13% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, COO Gerard H. Gifford sold 7,000 shares of the stock in a transaction 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. The trade was a 4.93% decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.90% of the company's stock.

Institutional Trading of Crown

Several large investors have recently made changes to their positions in the business. Bayforest Capital Ltd grew its holdings in shares of Crown by 82.8% during the first quarter. Bayforest Capital Ltd now owns 4,423 shares of the industrial products company's stock worth $395,000 after purchasing an additional 2,003 shares during the last quarter. Woodline Partners LP bought a new position in Crown in the first quarter valued at about $6,307,000. Empowered Funds LLC boosted its holdings in Crown by 1.1% in the first quarter. Empowered Funds LLC now owns 88,213 shares of the industrial products company's stock valued at $7,874,000 after acquiring an additional 957 shares during the last quarter. United Services Automobile Association bought a new position in Crown in the first quarter valued at about $693,000. Finally, Great Lakes Advisors LLC bought a new position in Crown in the first quarter valued at about $9,778,000. Institutional investors own 90.93% of the company's stock.

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.

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