Crocs, Inc. (NASDAQ:CROX) Stake Reduced by Principal Financial Group Inc.

Principal Financial Group Inc. decreased its position in Crocs, Inc. (NASDAQ:CROX - Free Report) by 3.5% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 129,223 shares of the textile maker's stock after selling 4,713 shares during the quarter. Principal Financial Group Inc. owned 0.23% of Crocs worth $13,723,000 at the end of the most recent quarter.

Several other large investors also recently bought and sold shares of the company. Teacher Retirement System of Texas grew its position in Crocs by 85.6% in the first quarter. Teacher Retirement System of Texas now owns 30,601 shares of the textile maker's stock valued at $3,250,000 after acquiring an additional 14,110 shares in the last quarter. Vontobel Holding Ltd. boosted its stake in shares of Crocs by 6.3% during the 1st quarter. Vontobel Holding Ltd. now owns 7,090 shares of the textile maker's stock valued at $753,000 after buying an additional 421 shares during the last quarter. Townsend & Associates Inc boosted its stake in shares of Crocs by 16.1% during the 1st quarter. Townsend & Associates Inc now owns 155,118 shares of the textile maker's stock valued at $16,474,000 after buying an additional 21,468 shares during the last quarter. KBC Group NV boosted its stake in shares of Crocs by 15.0% during the 1st quarter. KBC Group NV now owns 2,596 shares of the textile maker's stock valued at $276,000 after buying an additional 339 shares during the last quarter. Finally, K.J. Harrison & Partners Inc purchased a new position in shares of Crocs during the 1st quarter valued at approximately $1,062,000. Institutional investors and hedge funds own 93.44% of the company's stock.

Insider Buying and Selling at Crocs

In related news, Director Ian Bickley sold 3,044 shares of Crocs 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 sale, the director directly owned 27,505 shares in the company, valued at $3,187,554.45. The trade was 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 the SEC website. 3.00% of the stock is currently owned by corporate insiders.

Crocs Stock Performance

CROX stock traded down $2.10 during mid-day trading on Friday, reaching $103.75. The company had a trading volume of 748,783 shares, compared to its average volume of 1,520,582. The company has a quick ratio of 0.97, a current ratio of 1.52 and a debt-to-equity ratio of 0.75. The stock has a market capitalization of $5.82 billion, a P/E ratio of 6.36, a P/E/G ratio of 2.16 and a beta of 1.38. Crocs, Inc. has a one year low of $86.11 and a one year high of $151.13. The stock's 50-day simple moving average is $105.56 and its two-hundred day simple moving average is $103.14.

Crocs (NASDAQ:CROX - Get Free Report) last posted its earnings results on Thursday, May 8th. The textile maker reported $3.00 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.51 by $0.49. The company had revenue of $937.33 million for the quarter, compared to analysts' expectations of $907.07 million. Crocs had a return on equity of 43.07% and a net margin of 23.35%. The firm's quarterly revenue was down .1% compared to the same quarter last year. During the same period last year, the business posted $3.02 earnings per share. Research analysts anticipate that Crocs, Inc. will post 13.2 EPS for the current year.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on the company. Needham & Company LLC increased their target price 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 increased their target price on Crocs from $110.00 to $125.00 and gave the company a "buy" rating in a research note on Tuesday, April 1st. Barclays reduced their target price on Crocs from $122.00 to $119.00 and set an "overweight" rating for the company in a research note on Friday, May 9th. Piper Sandler reduced their target price on Crocs from $125.00 to $115.00 and set an "overweight" rating for the company in a research note on Friday, April 11th. Finally, The Goldman Sachs Group assumed coverage on Crocs in a research note on Wednesday, July 2nd. They set a "sell" rating and a $88.00 price objective on the stock. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and twelve have given a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $135.13.

Crocs Company 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.