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

Crown Holdings, Inc. (NYSE:CCK) was the recipient of a large increase in short interest in 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. Currently, 3.1% of the shares of the company are short sold. Based on an average daily volume of 1,090,000 shares, the days-to-cover ratio is currently 3.4 days.

Analyst Ratings Changes

A number of equities research analysts have weighed in on the company. Royal Bank of Canada lifted their price objective on Crown from $105.00 to $113.00 and gave the company an “outperform” rating in a report on Wednesday, October 23rd. Truist Financial boosted their price objective on shares of Crown from $95.00 to $103.00 and gave the stock a “hold” rating in a report on Tuesday, October 15th. Citigroup boosted their price target on Crown from $100.00 to $110.00 and gave the stock a “buy” rating in a research note on Wednesday, October 2nd. Mizuho set a $110.00 price target on Crown in a report on Friday, October 18th. Finally, Robert W. Baird lifted their price objective on Crown from $100.00 to $110.00 and gave the stock an “outperform” rating in a report on Monday, October 21st. Three research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. According to data from MarketBeat.com, Crown has an average rating of “Moderate Buy” and a consensus price target of $106.62.

Insider Activity at Crown

In other news, Director James H. Miller sold 1,006 shares of the company’s stock in a transaction dated Monday, September 23rd. The shares were sold at an average price of $95.60, for a total value of $96,173.60. Following the completion of the sale, the director now directly owns 12,424 shares of the company’s stock, valued at approximately $1,187,734.40. This represents a 7.49 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, 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 value of $697,500.00. Following the transaction, the chief executive officer now directly owns 571,178 shares in the company, valued at approximately $53,119,554. This represents a 1.30 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 26,006 shares of company stock valued at $2,478,049 in the last three months. 0.90% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the company. Sumitomo Mitsui Trust Group Inc. raised its holdings in shares of Crown by 4.3% in the 3rd quarter. Sumitomo Mitsui Trust Group Inc. now owns 249,041 shares of the industrial products company’s stock worth $23,878,000 after purchasing an additional 10,295 shares during the period. Sei Investments Co. increased its position in Crown by 139.2% during the 2nd quarter. Sei Investments Co. now owns 122,380 shares of the industrial products company’s stock worth $9,104,000 after purchasing an additional 71,227 shares in the last quarter. Jensen Investment Management Inc. raised its holdings in Crown by 7.8% in the third quarter. Jensen Investment Management Inc. now owns 100,918 shares of the industrial products company’s stock valued at $9,676,000 after buying an additional 7,280 shares during the period. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp lifted its position in Crown by 62.0% during the second quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 23,142 shares of the industrial products company’s stock valued at $1,722,000 after buying an additional 8,857 shares in the last quarter. Finally, Victory Capital Management Inc. grew its stake in Crown by 7.8% during the third quarter. Victory Capital Management Inc. now owns 5,676,902 shares of the industrial products company’s stock worth $544,301,000 after buying an additional 412,973 shares during the period. 90.93% of the stock is owned by hedge funds and other institutional investors.

Crown Trading Down 0.2 %

Shares of CCK stock traded down $0.20 during mid-day trading on Friday, hitting $87.88. 673,406 shares of the company’s stock were exchanged, compared to its average volume of 1,137,063. The stock 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 stock has a 50-day simple moving average of $92.45 and a two-hundred day simple moving average of $87.44. Crown has a fifty-two week low of $69.61 and a fifty-two week high of $98.46. The company has a quick ratio of 0.84, a current ratio of 1.21 and a debt-to-equity ratio of 2.19.

Crown (NYSE:CCK) last posted its quarterly earnings data on Thursday, October 17th. The industrial products company reported $1.99 EPS for the quarter, beating 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 company had revenue of $3.07 billion during the quarter, compared to the consensus estimate of $3.07 billion. Equities analysts expect that Crown will post 6.34 EPS for the current fiscal year.

Crown Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, November 27th. Stockholders of record on Thursday, November 14th were issued a dividend of $0.25 per share. The ex-dividend date of this dividend was Thursday, November 14th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.14%. Crown’s payout ratio is 123.46%.

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.