By otakuyassine3@gmail.com 
Crown Holdings, Inc. (NYSE:CCK – Get Free Report) was the target of a large increase in short interest during the month of November. As of November 30th, there was short interest totalling 3,680,000 shares, an increase of 34.3% from the November 15th total of 2,740,000 shares. Based on an average daily volume of 1,090,000 shares, the short-interest ratio is presently 3.4 days. Approximately 3.1% of the shares of the stock are short sold.
Insider Transactions at Crown
In related news, CEO Timothy J. Donahue sold 7,500 shares of the firm’s stock in a transaction dated Monday, October 7th. The stock was sold at an average price of $93.00, for a total transaction of $697,500.00. Following the completion of the sale, the chief executive officer now directly owns 571,178 shares of the company’s stock, valued at approximately $53,119,554. This trade represents a 1.30 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director James H. Miller sold 1,006 shares of Crown stock in a transaction that occurred on Monday, September 23rd. The shares were sold at an average price of $95.60, for a total transaction of $96,173.60. Following the completion of the sale, the director now owns 12,424 shares of the company’s stock, valued at $1,187,734.40. This trade represents a 7.49 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 26,006 shares of company stock worth $2,478,049 in the last ninety days. Insiders own 0.90% of the company’s stock.
Hedge Funds Weigh In On Crown
Several institutional investors have recently added to or reduced their stakes in CCK. Franklin Resources Inc. lifted its position in Crown by 3.6% during the 3rd quarter. Franklin Resources Inc. now owns 941,033 shares of the industrial products company’s stock worth $87,949,000 after acquiring an additional 32,909 shares during the period. Tidal Investments LLC raised its stake in shares of Crown by 121.3% during the third quarter. Tidal Investments LLC now owns 21,997 shares of the industrial products company’s stock worth $2,109,000 after purchasing an additional 12,058 shares during the last quarter. Wilmington Savings Fund Society FSB lifted its holdings in shares of Crown by 48.3% during the third quarter. Wilmington Savings Fund Society FSB now owns 16,575 shares of the industrial products company’s stock worth $1,589,000 after purchasing an additional 5,397 shares during the period. Sanctuary Advisors LLC grew its position in Crown by 57.5% in the 3rd quarter. Sanctuary Advisors LLC now owns 8,936 shares of the industrial products company’s stock valued at $829,000 after buying an additional 3,264 shares during the last quarter. Finally, Virtu Financial LLC acquired a new position in Crown in the 3rd quarter valued at $861,000. Institutional investors and hedge funds own 90.93% of the company’s stock.
Crown Stock Performance
Shares of NYSE CCK traded down $0.20 during trading hours on Friday, reaching $87.88. The stock had a trading volume of 1,088,326 shares, compared to its average volume of 1,137,063. The firm has a 50-day moving average of $92.45 and a 200-day moving average of $87.47. The firm has a market cap of $10.51 billion, a price-to-earnings ratio of 108.49, a PEG ratio of 1.95 and a beta of 0.83. The company has a current ratio of 1.21, a quick ratio of 0.84 and a debt-to-equity ratio of 2.19. Crown has a fifty-two week low of $69.61 and a fifty-two week high of $98.46.
Crown (NYSE:CCK – Get Free Report) last announced its earnings results on Thursday, October 17th. The industrial products company reported $1.99 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.81 by $0.18. Crown had a net margin of 0.83% and a return on equity of 24.57%. The business had revenue of $3.07 billion for the quarter, compared to analyst estimates of $3.07 billion. Equities research analysts predict that Crown will post 6.34 earnings per share for the current year.
Crown Dividend Announcement
The firm also recently announced a quarterly dividend, which was paid on Wednesday, November 27th. Stockholders of record on Thursday, November 14th were paid a dividend of $0.25 per share. The ex-dividend date of this dividend was Thursday, November 14th. This represents a $1.00 annualized dividend and a dividend yield of 1.14%. Crown’s dividend payout ratio (DPR) is 123.46%.
Wall Street Analysts Forecast Growth
CCK has been the subject of several analyst reports. Royal Bank of Canada boosted their target price on Crown from $105.00 to $113.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 23rd. Wells Fargo & Company upped their target price on shares of Crown from $97.00 to $105.00 and gave the stock an “equal weight” rating in a research note on Monday, October 21st. Citigroup lifted their price target on shares of Crown from $100.00 to $110.00 and gave the stock a “buy” rating in a research note on Wednesday, October 2nd. Morgan Stanley increased their price objective on shares of Crown from $105.00 to $109.00 and gave the company an “equal weight” rating in a research report on Monday, October 21st. Finally, StockNews.com upgraded shares of Crown from a “hold” rating to a “buy” rating in a research note on Saturday, October 26th. Three research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $106.62.
Read Our Latest Analysis on CCK
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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