Crown Holdings Inc. (NYSE: CCK) stock jumped 1.85% on Thursday to $91.93 against a previous-day closing price of $90.26. With 1.06 million shares changed hands, the volume of the stock remained lighter than its average volume of 1.37 million shares. During the session, the Packaging & Containers company that operates in wider Consumer Cyclical sector, reached to the highest price of $92.36 whereas the lowest price it dropped to was $90.91. The 52-week range on CCK shows that it touched its highest point at $97.94 and its lowest point at $66.00 during that stretch. It currently has a 1-year price target of $107.75. With its current market cap of 10.97 billion, CCK has annualized dividend of $0.96 while the current yield stands at 1.04%. Beta for the stock currently stands at 1.11.
Price Performance and Earnings:
Stock performance is one of the indicators that investors use to determine whether they will profit from a stock. The price performance of CCK was up-trending over the past week, with a rise of 3.35%, but this was up by 4.29% over a month. Three-month performance surged to 7.75% while six-month performance rose 17.86%. The stock lost -5.59% in the past year, while it has gained 11.82% so far this year. A look at the trailing 12-month EPS for CCK yields 3.96 with Next year EPS estimates of 7.19. For the next quarter, that number is 1.73. This implies an EPS growth rate of 254.00% for this year and 15.78% for next year. EPS is expected to grow by 6.45% annually over the next five years; however, over the past five years, the company experienced an annual growth rate of 9.70%.
Float and Shares Shorts:
At present, 120.65 million CCK shares are outstanding with a float of 119.58 million shares on hand for trading. On Aug 30, 2023, short shares totaled 4.3 million, which was 3.56% higher than short shares on Jul 30, 2023. In addition to Mr. Timothy J. Donahue as the firm’s Chairman, Pres & CEO, Mr. Kevin Charles Clothier serves as its Sr. VP & CFO.
Through their ownership of 94.42% of CCK’s outstanding shares, institutional investors have majority control over the company. Other institutions hold 56.29% of CCK, in contrast to 42.64% held by mutual funds. Shares owned by individuals account for 3.42%. As the largest shareholder in CCK with 9.61% of the stake, The Vanguard Group, Inc. holds 11,545,514 shares worth 11,545,514. A second-largest stockholder of CCK, BlackRock Fund Advisors, holds 9,254,812 shares, controlling over 7.71% of the firm’s shares. Janus Henderson Investors US LLC is the third largest shareholder in CCK, holding 5,559,582 shares or 4.63% stake. With a 3.21% stake in CCK, the iShares Core S&P Mid Cap ETF is the largest stakeholder. A total of 3,855,390 shares are owned by the mutual fund manager. The Vanguard Total Stock Market ETF, which owns about 3.11% of CCK stock, is the second-largest Mutual Fund holder. It holds 3,736,010 shares valued at 346.55 million. Victory Sycamore Established Valu holds 2.55% of the stake in CCK, owning 3,065,000 shares worth 284.31 million.
An Overview of Recent Financials:
Understanding a company as a customer does not mean you will understand it as an investor. The wise investor uses quantitative research to analyze metrics such as revenue, net income, and earnings. In its fiscal quarter reported on Jun 29, 2023, CCK reported revenue of $3.51B and operating income of $397.00M. The EBITDA in the recently reported quarter was $516.00M and diluted EPS was $2.43.
Reading analyst opinions is an effective way to decide where to invest, and there are several opinions available for CCK since 0 analysts follow the stock currently. In the same way, a target price assigned to a stock can also reveal much about its potential. With CCK analysts setting a high price target of $128.00 and a low target of $86.00, the average target price over the next 12 months is $107.32. Based on these targets, CCK could surge 39.24% to reach the target high and fall by -6.45% to reach the target low. Reaching the average price target will result in a growth of 16.74% from current levels.
EPS: Estimates vs Actual
It is also common to use earnings estimates to evaluate a firm’s growth potential and to determine trading strategy.
Summary of Insider Activity:
Insiders traded CCK stock several times over the past three months with 13 Buys and 3 Sells. In these transactions, 10,236 shares were bought while 7,698 shares were sold. The number of buy transactions has increased to 61 while that of sell transactions has risen to 22 over the past year. The total number of shares bought during that period was 249,204 while 98,912 shares were sold.