Crown Holdings, Inc. (NYSE:CCK) Short Interest Up 15.1% in November

by · The Markets Daily

Crown Holdings, Inc. (NYSE:CCK – Get Free Report) saw a significant increase in short interest during the month of November. As of November 15th, there was short interest totalling 2,740,000 shares, an increase of 15.1% from the October 31st total of 2,380,000 shares. Based on an average daily trading volume, of 1,100,000 shares, the short-interest ratio is currently 2.5 days. Currently, 2.3% of the shares of the company are short sold.

Crown Trading Down 0.4 %

Shares of Crown stock traded down $0.38 during trading on Tuesday, hitting $92.03. The company’s stock had a trading volume of 853,958 shares, compared to its average volume of 1,076,995. The stock has a market cap of $11.01 billion, a price-to-earnings ratio of 113.61, a price-to-earnings-growth ratio of 2.05 and a beta of 0.84. The company has a debt-to-equity ratio of 2.19, a current ratio of 1.21 and a quick ratio of 0.84. Crown has a 52 week low of $69.61 and a 52 week high of $98.46. The stock has a 50-day moving average price of $93.40 and a two-hundred day moving average price of $87.24.

Crown (NYSE:CCK – Get Free Report) last issued its quarterly earnings results on Thursday, October 17th. The industrial products company reported $1.99 earnings per share for the quarter, beating the consensus estimate of $1.81 by $0.18. The company had revenue of $3.07 billion during the quarter, compared to analysts’ expectations of $3.07 billion. Crown had a return on equity of 24.57% and a net margin of 0.83%. Equities research analysts anticipate that Crown will post 6.34 EPS for the current fiscal year.

Crown Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, November 27th. Stockholders of record on Thursday, November 14th were given a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 1.09%. The ex-dividend date was Thursday, November 14th. Crown’s dividend payout ratio (DPR) is presently 123.46%.

Insider Activity

In other news, CEO Timothy J. Donahue sold 7,500 shares of the firm’s stock in a transaction that occurred on Friday, September 6th. The shares were sold at an average price of $90.58, for a total transaction of $679,350.00. Following the transaction, the chief executive officer now directly owns 578,678 shares of the company’s stock, valued at approximately $52,416,653.24. This trade represents a 1.28 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, COO Gerard H. Gifford sold 10,000 shares of Crown stock in a transaction on Wednesday, October 23rd. The shares were sold at an average price of $95.89, for a total value of $958,900.00. Following the completion of the transaction, the chief operating officer now directly owns 114,402 shares of the company’s stock, valued at $10,970,007.78. This represents a 8.04 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 33,506 shares of company stock valued at $3,157,399 over the last three months. Insiders own 0.90% of the company’s stock.

Hedge Funds Weigh In On Crown

Hedge funds and other institutional investors have recently bought and sold shares of the company. GAMMA Investing LLC boosted its holdings in shares of Crown by 110.9% during the 3rd quarter. GAMMA Investing LLC now owns 310 shares of the industrial products company’s stock worth $30,000 after buying an additional 163 shares in the last quarter. Covestor Ltd grew its holdings in Crown by 156.5% in the third quarter. Covestor Ltd now owns 454 shares of the industrial products company’s stock worth $44,000 after purchasing an additional 277 shares during the period. Brooklyn Investment Group bought a new stake in Crown in the third quarter valued at $44,000. Catalyst Capital Advisors LLC acquired a new position in shares of Crown during the third quarter valued at about $48,000. Finally, Mirae Asset Global Investments Co. Ltd. bought a new position in shares of Crown during the 3rd quarter worth about $55,000. Institutional investors and hedge funds own 90.93% of the company’s stock.

Analysts Set New Price Targets

CCK has been the topic of a number of recent analyst reports. Robert W. Baird lifted their price objective on shares of Crown from $100.00 to $110.00 and gave the company an “outperform” rating in a research note on Monday, October 21st. Loop Capital upped their price objective on Crown from $120.00 to $129.00 and gave the stock a “buy” rating in a research report on Monday, October 21st. Citigroup lifted their target price on Crown from $100.00 to $110.00 and gave the company a “buy” rating in a research report on Wednesday, October 2nd. Truist Financial increased their target price on shares of Crown from $95.00 to $103.00 and gave the stock a “hold” rating in a report on Tuesday, October 15th. Finally, Mizuho set a $110.00 price target on shares of Crown in a report on Friday, October 18th. Three analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. According to data from MarketBeat, Crown has a consensus rating of “Moderate Buy” and a consensus price target of $106.62.

Read Our Latest Stock Report on CCK

About Crown

(Get Free Report)

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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