Vanguard Group Inc. Has $548.95 Million Stake in Crocs, Inc. $CROX

Key Points

• Vanguard Group Inc. reduced its stake in Crocs, Inc. by 5.6%, selling 308,550 shares and now holds 5,169,024 shares valued at approximately $548.95 million.
• Various analysts have recently downgraded their price targets for Crocs, with Barclays setting a new price objective of $81.00, down from $119.00, reflecting concerns over the company’s performance.
• Despite recent market fluctuations, Crocs reported strong quarterly earnings, with $4.23 EPS, exceeding expectations and showing a 3.4% year-over-year revenue increase.

Vanguard Group Inc. lowered its stake in shares of Crocs, Inc. (NASDAQ:CROX - Free Report) by 5.6% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 5,169,024 shares of the textile maker's stock after selling 308,550 shares during the period. Vanguard Group Inc. owned approximately 9.22% of Crocs worth $548,950,000 at the end of the most recent reporting period.

Several other institutional investors also recently made changes to their positions in the stock. LSV Asset Management lifted its stake in shares of Crocs by 180.9% during the first quarter. LSV Asset Management now owns 880,260 shares of the textile maker's stock worth $93,484,000 after purchasing an additional 566,847 shares in the last quarter. Altshuler Shaham Ltd grew its holdings in Crocs by 30,778.0% during the 4th quarter. Altshuler Shaham Ltd now owns 456,995 shares of the textile maker's stock valued at $50,055,000 after purchasing an additional 455,515 shares in the last quarter. Fuller & Thaler Asset Management Inc. increased its stake in Crocs by 49.0% during the 4th quarter. Fuller & Thaler Asset Management Inc. now owns 1,308,402 shares of the textile maker's stock worth $143,309,000 after buying an additional 429,994 shares during the period. T. Rowe Price Investment Management Inc. boosted its position in Crocs by 167.5% in the 4th quarter. T. Rowe Price Investment Management Inc. now owns 490,544 shares of the textile maker's stock valued at $53,730,000 after buying an additional 307,185 shares during the last quarter. Finally, Caisse DE Depot ET Placement DU Quebec increased its position in shares of Crocs by 215.0% during the fourth quarter. Caisse DE Depot ET Placement DU Quebec now owns 372,450 shares of the textile maker's stock worth $40,794,000 after acquiring an additional 254,212 shares during the last quarter. 93.44% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

CROX has been the topic of several analyst reports. Bank of America dropped their price objective on Crocs from $135.00 to $99.00 and set a "buy" rating on the stock in a report on Friday, August 8th. Barclays reaffirmed an "equal weight" rating and issued a $81.00 price target (down from $119.00) on shares of Crocs in a report on Friday, August 8th. KeyCorp decreased their price objective on shares of Crocs from $120.00 to $95.00 and set an "overweight" rating for the company in a report on Friday, August 8th. Needham & Company LLC reduced their price target on shares of Crocs from $129.00 to $89.00 and set a "buy" rating on the stock in a research report on Thursday, August 7th. Finally, The Goldman Sachs Group decreased their price target on Crocs from $88.00 to $87.00 and set a "sell" rating for the company in a research note on Tuesday, July 22nd. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and nine have issued a buy rating to the company. Based on data from MarketBeat, the stock 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 acquired 3,261 shares of the stock in a transaction dated Friday, August 8th. The shares were bought at an average price of $76.69 per share, with a total value of $250,086.09. Following the purchase, the director directly owned 15,417 shares of the company's stock, valued at approximately $1,182,329.73. This trade represents a 26.83% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP Susan L. Healy bought 2,000 shares of the business's stock in a transaction that occurred on Tuesday, August 12th. The shares were acquired at an average cost of $76.56 per share, with a total value of $153,120.00. Following the completion of the purchase, the executive vice president owned 50,078 shares of the company's stock, valued at approximately $3,833,971.68. The trade was a 4.16% increase in their ownership of the stock. The disclosure for this purchase can be found here. 2.72% of the stock is owned by insiders.

Crocs Stock Performance

CROX traded down $1.02 during trading hours on Monday, hitting $83.68. The company's stock had a trading volume of 1,446,144 shares, compared to its average volume of 1,796,828. The company has a current ratio of 1.54, a quick ratio of 0.97 and a debt-to-equity ratio of 0.97. Crocs, Inc. has a fifty-two week low of $73.76 and a fifty-two week high of $151.13. The company has a 50-day simple moving average of $99.86 and a 200 day simple moving average of $101.40. The firm has a market capitalization of $4.57 billion, a PE ratio of 22.45, a PEG ratio of 1.95 and a beta of 1.41.

Crocs (NASDAQ:CROX - Get Free Report) last released its earnings results on Thursday, August 7th. The textile maker reported $4.23 EPS for the quarter, beating the consensus estimate of $4.01 by $0.22. Crocs had a net margin of 5.72% and a return on equity of 44.15%. The firm had revenue of $1.15 billion for the quarter, compared to analysts' expectations of $1.15 billion. During the same quarter last year, the company earned $4.01 EPS. Crocs's quarterly revenue was up 3.4% on a year-over-year basis. As a group, sell-side analysts expect that Crocs, Inc. will post 13.2 EPS for the current year.

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.