Bank of America Corp DE cut its stake in Crocs, Inc. (NASDAQ:CROX - Free Report) by 61.5% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 244,755 shares of the textile maker's stock after selling 390,186 shares during the period. Bank of America Corp DE owned about 0.42% of Crocs worth $26,808,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Vanguard Group Inc. boosted its holdings in Crocs by 0.9% in the fourth quarter. Vanguard Group Inc. now owns 5,477,574 shares of the textile maker's stock valued at $599,959,000 after purchasing an additional 47,576 shares during the period. Empowered Funds LLC raised its stake in Crocs by 42.0% in the fourth quarter. Empowered Funds LLC now owns 77,152 shares of the textile maker's stock valued at $8,450,000 after buying an additional 22,809 shares in the last quarter. State of Alaska Department of Revenue raised its stake in Crocs by 129.8% in the fourth quarter. State of Alaska Department of Revenue now owns 21,678 shares of the textile maker's stock valued at $2,373,000 after buying an additional 12,245 shares in the last quarter. Impax Asset Management Group plc acquired a new stake in Crocs in the fourth quarter valued at $684,000. Finally, Oppenheimer & Co. Inc. raised its stake in Crocs by 39.3% in the fourth quarter. Oppenheimer & Co. Inc. now owns 17,236 shares of the textile maker's stock valued at $1,888,000 after buying an additional 4,862 shares in the last quarter. 93.44% of the stock is currently owned by hedge funds and other institutional investors.
Crocs Price Performance
Shares of NASDAQ:CROX traded down $3.09 during trading on Friday, hitting $108.29. 1,608,274 shares of the stock were exchanged, compared to its average volume of 1,507,290. The company has a fifty day moving average price of $102.64 and a two-hundred day moving average price of $104.01. The company has a market cap of $6.07 billion, a PE ratio of 6.77, a P/E/G ratio of 1.80 and a beta of 1.46. The company has a current ratio of 1.18, a quick ratio of 0.70 and a debt-to-equity ratio of 0.74. Crocs, Inc. has a 12-month low of $86.11 and a 12-month high of $165.32.
Crocs (NASDAQ:CROX - Get Free Report) last announced its quarterly earnings results on Thursday, May 8th. The textile maker reported $3.00 EPS for the quarter, topping the consensus estimate of $2.51 by $0.49. The business had revenue of $937.33 million for the quarter, compared to analyst estimates of $907.07 million. Crocs had a return on equity of 46.27% and a net margin of 23.16%. The company's quarterly revenue was down .1% on a year-over-year basis. During the same quarter in the previous year, the company earned $3.02 EPS. On average, analysts forecast that Crocs, Inc. will post 13.2 EPS for the current year.
Insider Transactions at Crocs
In other news, Director Ian Bickley sold 3,044 shares of the business's stock in a transaction that occurred on Monday, May 12th. The stock was sold at an average price of $115.89, for a total transaction of $352,769.16. Following the sale, the director now owns 27,505 shares of the company's stock, valued at $3,187,554.45. The trade was a 9.96% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 3.00% of the company's stock.
Wall Street Analyst Weigh In
A number of research firms have weighed in on CROX. Barclays cut their price target on Crocs from $122.00 to $119.00 and set an "overweight" rating on the stock in a research note on Friday, May 9th. Guggenheim dropped their price target on Crocs from $155.00 to $150.00 and set a "buy" rating on the stock in a research report on Monday, February 3rd. UBS Group boosted their price target on Crocs from $122.00 to $132.00 and gave the company a "neutral" rating in a research report on Wednesday, February 19th. KeyCorp dropped their price target on Crocs from $150.00 to $120.00 and set an "overweight" rating on the stock in a research report on Thursday, January 23rd. Finally, Needham & Company LLC lifted their price objective on Crocs from $118.00 to $129.00 and gave the company a "buy" rating in a report on Thursday, May 8th. Three equities research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $139.79.
View Our Latest Stock Report on CROX
Crocs Company Profile
(
Free Report)
Crocs, Inc, together with its subsidiaries, designs, develops, manufactures, markets, distributes, and sells casual lifestyle footwear and accessories for men, women, and children under Crocs and HEYDUDE Brand in the United States and internationally. The company offers various footwear products, including clogs, sandals, slides, flips, wedges, platforms, socks, boots, charms, flip flops, sneakers, and slippers.
Further Reading
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