Invesco Ltd. Sells 8,684 Shares of Crocs, Inc. (NASDAQ:CROX)

Key Points

• Invesco Ltd. has reduced its stake in Crocs, Inc. by 1.1%, selling 8,684 shares and now holding 805,769 shares worth approximately $85.57 million.
• Several institutional investors, including Wells Fargo and Russell Investments Group, increased their stakes in Crocs during the 4th quarter, highlighting continued interest in the company.
• Analysts have issued mixed ratings for Crocs, with price targets being lowered; the average target is now $108.92, reflecting a consensus rating of "Moderate Buy."

Invesco Ltd. lowered its position in Crocs, Inc. (NASDAQ:CROX - Free Report) by 1.1% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 805,769 shares of the textile maker's stock after selling 8,684 shares during the period. Invesco Ltd. owned 1.44% of Crocs worth $85,573,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Wells Fargo & Company MN lifted its position in Crocs by 35.6% during the 4th quarter. Wells Fargo & Company MN now owns 20,744 shares of the textile maker's stock worth $2,272,000 after buying an additional 5,448 shares in the last quarter. Russell Investments Group Ltd. lifted its position in Crocs by 57.7% during the 4th quarter. Russell Investments Group Ltd. now owns 27,172 shares of the textile maker's stock worth $2,976,000 after buying an additional 9,942 shares in the last quarter. Bank of Montreal Can lifted its position in Crocs by 12.0% during the 4th quarter. Bank of Montreal Can now owns 13,393 shares of the textile maker's stock worth $1,467,000 after buying an additional 1,439 shares in the last quarter. Advisory Services Network LLC acquired a new position in Crocs during the 4th quarter worth about $248,000. Finally, Townsquare Capital LLC acquired a new position in Crocs during the 4th quarter worth about $238,000. Institutional investors and hedge funds own 93.44% of the company's stock.

Insider Activity

In other Crocs news, EVP Susan L. Healy purchased 2,000 shares of the stock in a transaction on Tuesday, August 12th. The stock was bought 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 directly owned 50,078 shares of the company's stock, valued at $3,833,971.68. The trade was a 4.16% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director John B. Replogle purchased 3,261 shares of the stock in a transaction on Friday, August 8th. The stock was acquired at an average price 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 of the company's stock, valued at approximately $1,182,329.73. This represents a 26.83% increase in their ownership of the stock. The disclosure for this purchase can be found here. 3.00% of the stock is owned by corporate insiders.

Analyst Ratings Changes

Several research analysts recently issued reports on the stock. KeyCorp reduced their price target on shares of Crocs from $120.00 to $95.00 and set an "overweight" rating on the stock in a research report on Friday, August 8th. Monness Crespi & Hardt reduced their price target on shares of Crocs from $140.00 to $92.00 and set a "buy" rating on the stock in a research report on Friday, August 8th. Barclays reaffirmed an "equal weight" rating and set a $81.00 price target (down previously from $119.00) on shares of Crocs in a research note on Friday, August 8th. Needham & Company LLC cut their price target on Crocs from $129.00 to $89.00 and set a "buy" rating on the stock in a research note on Thursday, August 7th. Finally, Stifel Nicolaus reaffirmed a "hold" rating and set a $85.00 price target (down previously from $127.00) on shares of Crocs in a research note on Friday, August 8th. One research analyst has rated the stock with a sell rating, five have issued a hold rating and nine have assigned a buy rating to the stock. According to MarketBeat, Crocs presently has an average rating of "Moderate Buy" and a consensus target price of $108.92.

Crocs Trading Up 0.8%

NASDAQ:CROX opened at $84.70 on Friday. Crocs, Inc. has a 1-year low of $73.76 and a 1-year high of $151.13. The business's 50-day moving average price is $99.86 and its two-hundred day moving average price is $101.46. 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 firm has a market capitalization of $4.63 billion, a price-to-earnings ratio of 22.71, a PEG ratio of 1.93 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 earnings per share for the quarter, beating the consensus estimate of $4.01 by $0.22. Crocs had a return on equity of 44.15% and a net margin of 5.72%. The firm had revenue of $1.15 billion for the quarter, compared to analyst estimates of $1.15 billion. During the same quarter in the prior year, the firm posted $4.01 earnings per share. The company's quarterly revenue was up 3.4% on a year-over-year basis. On average, equities analysts expect that Crocs, Inc. will post 13.2 earnings per share for the current year.

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.

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