Crown Holdings, Inc. (NYSE:CCK) Short Interest Update

Crown Holdings, Inc. (NYSE:CCK) was the recipient of a large growth in short interest in the month of June. As of June 15th, there was short interest totalling 2,720,000 shares, a growth of 7.9% from the May 31st total of 2,520,000 shares. Based on an average trading volume of 967,900 shares, the short-interest ratio is currently 2.8 days. Currently, 2.3% of the company’s stock are sold short.

Analysts Set New Price Targets

CCK has been the topic of a number of analyst reports. Robert W. Baird boosted their price target on Crown from $90.00 to $100.00 and gave the stock an “outperform” rating in a research report on Wednesday, May 1st. Wells Fargo & Company boosted their price target on Crown from $76.00 to $84.00 and gave the stock an “equal weight” rating in a research report on Wednesday, May 1st. Loop Capital upped their price objective on Crown from $101.00 to $106.00 and gave the company a “buy” rating in a research report on Wednesday, May 1st. Morgan Stanley started coverage on Crown in a research report on Monday, March 18th. They issued an “equal weight” rating and a $87.00 price objective on the stock. Finally, Truist Financial reaffirmed a “hold” rating and issued a $88.00 price objective (down from $100.00) on shares of Crown in a research report on Wednesday, March 27th. Four analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $99.29.

Insiders Place Their Bets

In other Crown news, CEO Timothy J. Donahue sold 22,500 shares of the company’s stock in a transaction that occurred on Tuesday, April 30th. The stock was sold at an average price of $85.18, for a total transaction of $1,916,550.00. Following the transaction, the chief executive officer now owns 616,178 shares in the company, valued at approximately $52,486,042.04. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Crown news, CEO Timothy J. Donahue sold 22,500 shares of the company’s stock in a transaction that occurred on Tuesday, April 30th. The stock was sold at an average price of $85.18, for a total transaction of $1,916,550.00. Following the transaction, the chief executive officer now owns 616,178 shares in the company, valued at approximately $52,486,042.04. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director James H. Miller sold 9,000 shares of the company’s stock in a transaction that occurred on Tuesday, June 4th. The stock was sold at an average price of $82.93, for a total value of $746,370.00. Following the transaction, the director now owns 12,884 shares in the company, valued at approximately $1,068,470.12. The disclosure for this sale can be found here. In the last quarter, insiders have sold 39,000 shares of company stock worth $3,300,420. Company insiders own 0.90% of the company’s stock.

Institutional Investors Weigh In On Crown

Institutional investors have recently bought and sold shares of the business. 1832 Asset Management L.P. bought a new position in shares of Crown during the 1st quarter valued at about $119,167,000. Norges Bank bought a new position in shares of Crown during the 4th quarter valued at about $109,826,000. Clearbridge Investments LLC boosted its holdings in shares of Crown by 474.8% during the 4th quarter. Clearbridge Investments LLC now owns 1,214,618 shares of the industrial products company’s stock valued at $111,854,000 after purchasing an additional 1,003,312 shares during the last quarter. Boston Partners bought a new position in shares of Crown during the 4th quarter valued at about $84,960,000. Finally, Jacobs Levy Equity Management Inc. bought a new position in shares of Crown during the 1st quarter valued at about $29,981,000. Hedge funds and other institutional investors own 90.93% of the company’s stock.

Crown Stock Performance

Shares of NYSE:CCK traded down $0.62 during midday trading on Wednesday, hitting $72.60. The company had a trading volume of 414,700 shares, compared to its average volume of 1,116,001. The company has a debt-to-equity ratio of 2.26, a current ratio of 1.19 and a quick ratio of 0.77. The company has a market cap of $8.77 billion, a price-to-earnings ratio of 21.10, a PEG ratio of 1.97 and a beta of 0.85. Crown has a 12-month low of $69.61 and a 12-month high of $96.35. The company has a fifty day moving average of $81.25 and a two-hundred day moving average of $81.96.

Crown (NYSE:CCK) last posted its quarterly earnings data on Monday, April 29th. The industrial products company reported $1.02 EPS for the quarter, topping the consensus estimate of $0.96 by $0.06. Crown had a return on equity of 23.95% and a net margin of 3.51%. The firm had revenue of $2.78 billion during the quarter, compared to analyst estimates of $2.93 billion. During the same period in the prior year, the business posted $1.20 EPS. Crown’s revenue was down 6.4% on a year-over-year basis. On average, equities research analysts expect that Crown will post 5.93 EPS for the current fiscal year.

Crown Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, June 27th. Shareholders of record on Thursday, June 13th were paid a $0.25 dividend. The ex-dividend date was Thursday, June 13th. This represents a $1.00 dividend on an annualized basis and a yield of 1.38%. Crown’s payout ratio is presently 28.82%.

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.