Fifth Third Bancorp Reduces Stock Holdings in Crocs, Inc. (NASDAQ:CROX)

Fifth Third Bancorp cut its position in shares of Crocs, Inc. (NASDAQ:CROX - Free Report) by 81.5% during the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 637 shares of the textile maker's stock after selling 2,804 shares during the quarter. Fifth Third Bancorp's holdings in Crocs were worth $68,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Allianz SE bought a new stake in Crocs in the fourth quarter worth $53,000. Ameriflex Group Inc. bought a new position in Crocs in the 4th quarter worth about $54,000. Parallel Advisors LLC grew its position in Crocs by 26.5% during the 1st quarter. Parallel Advisors LLC now owns 630 shares of the textile maker's stock valued at $67,000 after purchasing an additional 132 shares during the last quarter. UMB Bank n.a. increased its stake in Crocs by 43.6% during the 1st quarter. UMB Bank n.a. now owns 642 shares of the textile maker's stock valued at $68,000 after purchasing an additional 195 shares in the last quarter. Finally, NBC Securities Inc. purchased a new position in Crocs in the first quarter worth about $69,000. 93.44% of the stock is owned by hedge funds and other institutional investors.

Crocs Price Performance

Crocs stock traded up $1.75 during mid-day trading on Tuesday, hitting $99.12. The stock had a trading volume of 989,490 shares, compared to its average volume of 1,520,637. Crocs, Inc. has a one year low of $86.11 and a one year high of $154.83. The company has a current ratio of 1.52, a quick ratio of 0.97 and a debt-to-equity ratio of 0.75. The firm has a market capitalization of $5.56 billion, a P/E ratio of 6.07, a P/E/G ratio of 2.47 and a beta of 1.41. The firm's 50 day moving average is $102.72 and its 200 day moving average is $103.75.

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

Insider Activity at Crocs

In related news, Director Ian Bickley sold 3,044 shares of the company's stock in a transaction on 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 now owns 27,505 shares of the company's stock, valued at $3,187,554.45. This represents a 9.96% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 2.72% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

Several brokerages recently weighed in on CROX. Loop Capital raised their price target on shares of Crocs from $110.00 to $125.00 and gave the company a "buy" rating in a research report on Tuesday, April 1st. Piper Sandler decreased their price target on Crocs from $125.00 to $115.00 and set an "overweight" rating for the company in a research note on Friday, April 11th. Needham & Company LLC increased their price objective on Crocs from $118.00 to $129.00 and gave the company a "buy" rating in a research report on Thursday, May 8th. Stifel Nicolaus decreased their target price on Crocs from $138.00 to $127.00 and set a "buy" rating for the company in a research report on Thursday, April 10th. Finally, Barclays dropped their price target on shares of Crocs from $122.00 to $119.00 and set an "overweight" rating on the stock in a report on Friday, May 9th. Three research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. According to MarketBeat.com, Crocs presently has a consensus rating of "Moderate Buy" and a consensus target price of $139.79.

About Crocs

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.