Crown Target of Unusually Large Options Trading (NYSE:CCK)

Crown Holdings, Inc. (NYSE:CCK) was the target of some unusual options trading activity on Friday. Traders bought 11,835 put options on the stock. This is an increase of approximately 665% compared to the average daily volume of 1,548 put options.

Crown Stock Performance

Shares of NYSE CCK traded up $0.32 during mid-day trading on Friday, hitting $90.38. 422,318 shares of the company were exchanged, compared to its average volume of 1,117,751. The company has a quick ratio of 0.84, a current ratio of 1.21 and a debt-to-equity ratio of 2.19. The firm has a market cap of $10.81 billion, a price-to-earnings ratio of 111.14, a price-to-earnings-growth ratio of 2.05 and a beta of 0.85. The stock has a 50 day simple moving average of $93.61 and a 200-day simple moving average of $86.44. Crown has a 1-year low of $69.61 and a 1-year high of $98.46.

Crown (NYSE:CCK) last issued its 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 business had revenue of $3.07 billion for the quarter, compared to the consensus estimate of $3.07 billion. Crown had a net margin of 0.83% and a return on equity of 24.57%. On average, sell-side analysts forecast that Crown will post 6.34 EPS for the current fiscal year.

Crown Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, November 27th. Stockholders of record on Thursday, November 14th will be issued a $0.25 dividend. The ex-dividend date of this dividend is Thursday, November 14th. This represents a $1.00 annualized dividend and a dividend yield of 1.11%. Crown’s dividend payout ratio is currently 123.46%.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on the company. Barclays upped their price objective on Crown from $100.00 to $112.00 and gave the stock an “overweight” rating in a research report on Monday, October 21st. Bank of America increased their price target on shares of Crown from $98.00 to $102.00 and gave the company a “buy” rating in a research note on Wednesday, July 24th. StockNews.com upgraded shares of Crown from a “hold” rating to a “buy” rating in a report on Saturday, October 26th. Loop Capital lifted their price target on shares of Crown from $120.00 to $129.00 and gave the stock a “buy” rating in a research note on Monday, October 21st. Finally, Robert W. Baird upped 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. Three investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $106.62.

Insider Activity

In related news, Director James H. Miller sold 1,006 shares of the company’s 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 sale, the director now directly owns 12,424 shares in the company, valued at approximately $1,187,734.40. This represents a 7.49 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, 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 completion of the sale, the chief executive officer now directly owns 578,678 shares in the company, valued at approximately $52,416,653.24. This trade represents a 1.28 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 33,506 shares of company stock valued at $3,157,399. 0.90% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the business. CANADA LIFE ASSURANCE Co grew its stake in Crown by 16.4% in the 1st quarter. CANADA LIFE ASSURANCE Co now owns 103,013 shares of the industrial products company’s stock valued at $8,163,000 after acquiring an additional 14,501 shares during the last quarter. Sei Investments Co. increased its stake in shares of 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. State Board of Administration of Florida Retirement System lifted its stake in Crown by 16.0% in the 1st quarter. State Board of Administration of Florida Retirement System now owns 131,635 shares of the industrial products company’s stock valued at $10,888,000 after buying an additional 18,165 shares in the last quarter. Jensen Investment Management Inc. grew its holdings in Crown by 7.8% during the 3rd 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 last quarter. Finally, Price T Rowe Associates Inc. MD raised its holdings in shares of Crown by 22.8% in the first quarter. Price T Rowe Associates Inc. MD now owns 198,984 shares of the industrial products company’s stock worth $15,772,000 after acquiring an additional 36,895 shares during the last quarter. Institutional investors and hedge funds own 90.93% of the company’s stock.

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.