Crown Sees Unusually High Options Volume (NYSE:CCK)

Crown Holdings, Inc. (NYSE:CCK - Get Free Report) saw unusually large options trading activity on Tuesday. Investors bought 4,616 call options on the stock. This represents an increase of 268% compared to the average daily volume of 1,254 call options.

Analysts Set New Price Targets

A number of analysts recently issued reports on CCK shares. Morgan Stanley lifted their target price on Crown from $89.00 to $92.00 and gave the company an "equal weight" rating in a research report on Wednesday, July 24th. Truist Financial raised their price objective on Crown from $88.00 to $95.00 and gave the stock a "hold" rating in a research note on Wednesday, July 24th. JPMorgan Chase & Co. increased their price target on shares of Crown from $85.00 to $90.00 and gave the stock an "overweight" rating in a research report on Wednesday, May 1st. Royal Bank of Canada increased their target price on shares of Crown from $96.00 to $105.00 and gave the stock an "outperform" rating in a report on Friday, July 26th. Finally, UBS Group lowered their target price on Crown from $112.00 to $91.00 and set a "buy" rating for the company in a report on Wednesday, July 17th. Four investment 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, the company currently has an average rating of "Moderate Buy" and an average target price of $100.21.

Insiders Place Their Bets

In other Crown news, Director James H. Miller sold 9,000 shares of Crown stock in a transaction that occurred on Tuesday, June 4th. The shares were sold at an average price of $82.93, for a total value of $746,370.00. Following the completion of the sale, the director now directly owns 12,884 shares in the company, valued at $1,068,470.12. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other Crown news, CEO Timothy J. Donahue sold 15,000 shares of the firm's stock in a transaction that occurred on Tuesday, July 23rd. The shares were sold at an average price of $85.03, for a total value of $1,275,450.00. Following the transaction, the chief executive officer now directly owns 593,678 shares of the company's stock, valued at $50,480,440.34. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director James H. Miller sold 9,000 shares of the firm's stock in a transaction dated 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. Insiders sold a total of 31,500 shares of company stock worth $2,665,695 over the last ninety days. 0.90% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the business. International Assets Investment Management LLC bought a new stake in shares of Crown in the 4th quarter valued at approximately $1,925,000. Strs Ohio acquired a new position in Crown in the fourth quarter valued at about $1,143,000. Mackenzie Financial Corp acquired a new position in Crown in the fourth quarter valued at about $253,000. Zurcher Kantonalbank Zurich Cantonalbank boosted its position in shares of Crown by 245.5% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 62,808 shares of the industrial products company's stock worth $5,784,000 after buying an additional 44,630 shares during the period. Finally, Daiwa Securities Group Inc. lifted its position in Crown by 4.2% during the 4th quarter. Daiwa Securities Group Inc. now owns 7,472 shares of the industrial products company's stock worth $688,000 after buying an additional 300 shares in the last quarter. 90.93% of the stock is owned by institutional investors and hedge funds.

Crown Price Performance

CCK stock traded down $1.32 during mid-day trading on Tuesday, reaching $87.81. The company's stock had a trading volume of 638,336 shares, compared to its average volume of 1,144,695. Crown has a fifty-two week low of $69.61 and a fifty-two week high of $94.49. The company's 50 day moving average is $80.47 and its two-hundred day moving average is $79.71. The stock has a market cap of $10.60 billion, a PE ratio of 25.31, a P/E/G ratio of 2.09 and a beta of 0.85. The company has a current ratio of 1.05, a quick ratio of 0.73 and a debt-to-equity ratio of 2.00.

Crown (NYSE:CCK - Get Free Report) last posted its quarterly earnings data on Monday, July 22nd. The industrial products company reported $1.81 earnings per share for the quarter, beating analysts' consensus estimates of $1.59 by $0.22. The firm had revenue of $3.04 billion for the quarter, compared to analyst estimates of $3.06 billion. Crown had a net margin of 3.68% and a return on equity of 23.96%. Crown's quarterly revenue was down 2.2% on a year-over-year basis. During the same period last year, the firm posted $1.68 EPS. Equities research analysts expect that Crown will post 6.15 EPS for the current year.

Crown Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, August 29th. Stockholders of record on Thursday, August 15th will be given a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.14%. The ex-dividend date of this dividend is Thursday, August 15th. Crown's payout ratio is 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.