Bank of New York Mellon Corp lowered its stake in shares of Crocs, Inc. (NASDAQ:CROX - Free Report) by 6.3% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 438,309 shares of the textile maker's stock after selling 29,657 shares during the period. Bank of New York Mellon Corp owned approximately 0.78% of Crocs worth $46,548,000 as of its most recent filing with the Securities and Exchange Commission.
Other institutional investors have also recently made changes to their positions in the company. Allianz SE bought a new stake in Crocs during the 4th quarter valued at $53,000. Salem Investment Counselors Inc. acquired a new position in shares of Crocs during the first quarter valued at about $53,000. Ameriflex Group Inc. acquired a new position in shares of Crocs during the fourth quarter valued at about $54,000. Compagnie Lombard Odier SCmA bought a new stake in shares of Crocs during the first quarter worth about $58,000. Finally, Parallel Advisors LLC increased its position in shares of Crocs by 26.5% during the first quarter. Parallel Advisors LLC now owns 630 shares of the textile maker's stock worth $67,000 after acquiring an additional 132 shares in the last quarter. Institutional investors and hedge funds own 93.44% of the company's stock.
Wall Street Analysts Forecast Growth
A number of equities analysts have issued reports on CROX shares. Needham & Company LLC lifted their price target on Crocs from $118.00 to $129.00 and gave the company a "buy" rating in a research note on Thursday, May 8th. Loop Capital raised their target price on Crocs from $110.00 to $125.00 and gave the company a "buy" rating in a report on Tuesday, April 1st. The Goldman Sachs Group initiated coverage on Crocs in a research report on Wednesday, July 2nd. They set a "sell" rating and a $88.00 target price on the stock. Barclays lowered their price target on Crocs from $122.00 to $119.00 and set an "overweight" rating for the company in a research report on Friday, May 9th. Finally, Bank of America dropped their price objective on Crocs from $140.00 to $135.00 and set a "buy" rating on the stock in a research note on Monday, June 30th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and twelve have assigned a buy rating to the company's stock. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $135.13.
Read Our Latest Analysis on Crocs
Insiders Place Their Bets
In other Crocs news, Director Ian Bickley sold 3,044 shares of the stock in a transaction dated Monday, May 12th. The shares were sold at an average price of $115.89, for a total transaction of $352,769.16. Following the completion of the transaction, the director owned 27,505 shares in the company, valued at $3,187,554.45. This trade represents a 9.96% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Company insiders own 2.72% of the company's stock.
Crocs Stock Performance
NASDAQ CROX traded down $1.74 during trading hours on Monday, reaching $102.01. 862,753 shares of the company were exchanged, compared to its average volume of 1,668,932. The stock has a market capitalization of $5.72 billion, a P/E ratio of 6.25, a P/E/G ratio of 2.16 and a beta of 1.38. The company has a quick ratio of 0.97, a current ratio of 1.52 and a debt-to-equity ratio of 0.75. Crocs, Inc. has a 1 year low of $86.11 and a 1 year high of $151.13. The business's 50 day simple moving average is $105.56 and its 200-day simple moving average is $103.07.
Crocs (NASDAQ:CROX - Get Free Report) last issued its quarterly earnings results on Thursday, May 8th. The textile maker reported $3.00 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.51 by $0.49. The company had revenue of $937.33 million during the quarter, compared to analyst estimates of $907.07 million. Crocs had a net margin of 23.35% and a return on equity of 43.07%. Crocs's quarterly revenue was down .1% compared to the same quarter last year. During the same quarter last year, the business posted $3.02 EPS. On average, equities research analysts expect that Crocs, Inc. will post 13.2 earnings per share for the current year.
About Crocs
(
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.
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