Citigroup Inc. Acquires 47,526 Shares of Crocs, Inc. $CROX

Key Points

• Citigroup Inc. increased its stake in Crocs, Inc. by 99.6% during the first quarter, owning approximately 95,257 shares valued at around $10.1 million.
• Recent analysts' reports have suggested decreased price targets for Crocs, with Bank of America lowering its target from $135 to $99 while maintaining a "buy" rating.
• Insider transactions indicate confidence in the company, with Director John B. Replogle and EVP Susan L. Healy both purchasing shares recently, increasing their ownership stakes.

Citigroup Inc. raised its holdings in shares of Crocs, Inc. (NASDAQ:CROX - Free Report) by 99.6% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 95,257 shares of the textile maker's stock after purchasing an additional 47,526 shares during the period. Citigroup Inc. owned approximately 0.17% of Crocs worth $10,116,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. Costello Asset Management INC purchased a new stake in Crocs during the 1st quarter valued at $32,000. Larson Financial Group LLC boosted its stake in Crocs by 541.8% during the 1st quarter. Larson Financial Group LLC now owns 353 shares of the textile maker's stock valued at $37,000 after purchasing an additional 298 shares during the last quarter. IMA Advisory Services Inc. purchased a new stake in Crocs during the 1st quarter valued at $40,000. Salem Investment Counselors Inc. purchased a new stake in Crocs during the 1st quarter valued at $53,000. Finally, Ameriflex Group Inc. purchased a new stake in Crocs during the 4th quarter valued at $54,000. 93.44% of the stock is currently owned by hedge funds and other institutional investors.

Crocs Stock Performance

NASDAQ CROX traded down $0.61 on Thursday, hitting $83.11. 152,021 shares of the company traded hands, compared to its average volume of 1,790,928. The company has a market capitalization of $4.54 billion, a price-to-earnings ratio of 22.29, a P/E/G ratio of 1.92 and a beta of 1.41. The company has a current ratio of 1.54, a quick ratio of 0.97 and a debt-to-equity ratio of 0.97. The business's 50 day moving average price is $98.63 and its 200-day moving average price is $101.02. Crocs, Inc. has a 52-week low of $73.76 and a 52-week high of $151.13.

Crocs (NASDAQ:CROX - Get Free Report) last released its earnings results on Thursday, August 7th. The textile maker reported $4.23 earnings per share for the quarter, beating the consensus estimate of $4.01 by $0.22. The company had revenue of $1.15 billion for the quarter, compared to the consensus estimate of $1.15 billion. Crocs had a return on equity of 44.15% and a net margin of 5.72%.Crocs's quarterly revenue was up 3.4% compared to the same quarter last year. During the same period in the previous year, the business earned $4.01 earnings per share. Crocs has set its Q3 2025 guidance at EPS. Equities analysts expect that Crocs, Inc. will post 13.2 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on CROX shares. Monness Crespi & Hardt dropped their price target on Crocs from $140.00 to $92.00 and set a "buy" rating on the stock in a research note on Friday, August 8th. The Goldman Sachs Group dropped their price target on Crocs from $88.00 to $87.00 and set a "sell" rating on the stock in a research note on Tuesday, July 22nd. KeyCorp dropped their price target on Crocs from $120.00 to $95.00 and set an "overweight" rating on the stock in a research note on Friday, August 8th. Bank of America dropped their price target on Crocs from $135.00 to $99.00 and set a "buy" rating on the stock in a research note on Friday, August 8th. Finally, Barclays restated an "equal weight" rating and issued a $81.00 price target (down from $119.00) on shares of Crocs in a research note on Friday, August 8th. Nine analysts have rated the stock with a Buy rating, four have given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $108.92.

Insider Transactions at Crocs

In other Crocs news, Director John B. Replogle purchased 3,261 shares of the firm's stock in a transaction on Friday, August 8th. The shares were acquired at an average cost of $76.69 per share, with a total value of $250,086.09. Following the completion of the acquisition, the director directly owned 15,417 shares in the company, valued at $1,182,329.73. The trade was a 26.83% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, EVP Susan L. Healy purchased 2,000 shares of the firm's stock in a transaction on Tuesday, August 12th. The shares were acquired at an average cost of $76.56 per share, for a total transaction of $153,120.00. Following the completion of the acquisition, the executive vice president owned 50,078 shares of the company's stock, valued at approximately $3,833,971.68. This trade represents a 4.16% increase in their ownership of the stock. The disclosure for this purchase can be found here. 3.00% of the stock is owned by company insiders.

Crocs Profile

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.