Legal & General Group Plc Trims Stake in Crocs, Inc. (NASDAQ:CROX)

Legal & General Group Plc lessened its holdings in Crocs, Inc. (NASDAQ:CROX) by 12.4% during the fourth quarter, HoldingsChannel reports. The institutional investor owned 91,926 shares of the textile maker’s stock after selling 13,062 shares during the quarter. Legal & General Group Plc’s holdings in Crocs were worth $10,069,000 at the end of the most recent reporting period.

Several other large investors also recently added to or reduced their stakes in CROX. Bank of Montreal Can raised its holdings in shares of Crocs by 12.0% in the 4th quarter. Bank of Montreal Can now owns 13,393 shares of the textile maker’s stock valued at $1,467,000 after acquiring an additional 1,439 shares in the last quarter. Federated Hermes Inc. raised its stake in Crocs by 4.7% in the fourth quarter. Federated Hermes Inc. now owns 7,484 shares of the textile maker’s stock valued at $820,000 after purchasing an additional 336 shares in the last quarter. Russell Investments Group Ltd. lifted its position in Crocs by 57.7% during the fourth quarter. Russell Investments Group Ltd. now owns 27,172 shares of the textile maker’s stock valued at $2,976,000 after purchasing an additional 9,942 shares during the last quarter. Envestnet Asset Management Inc. grew its stake in Crocs by 5.7% in the 4th quarter. Envestnet Asset Management Inc. now owns 198,533 shares of the textile maker’s stock worth $21,745,000 after buying an additional 10,792 shares in the last quarter. Finally, Grantham Mayo Van Otterloo & Co. LLC raised its position in shares of Crocs by 5.0% during the 4th quarter. Grantham Mayo Van Otterloo & Co. LLC now owns 66,503 shares of the textile maker’s stock valued at $7,284,000 after buying an additional 3,155 shares in the last quarter. Institutional investors own 93.44% of the company’s stock.

Insider Activity at Crocs

In other Crocs news, EVP Adam Michaels sold 15,000 shares of the company’s stock in a transaction on Tuesday, February 18th. The shares were sold at an average price of $106.69, for a total value of $1,600,350.00. Following the completion of the transaction, the executive vice president now directly owns 89,323 shares in the company, valued at approximately $9,529,870.87. This represents a 14.38 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Shannon Sisler sold 4,659 shares of the firm’s stock in a transaction dated Friday, February 21st. The stock was sold at an average price of $109.75, for a total transaction of $511,325.25. Following the completion of the sale, the executive vice president now directly owns 29,299 shares of the company’s stock, valued at approximately $3,215,565.25. This represents a 13.72 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 2.72% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on CROX shares. Bank of America upped their target price on shares of Crocs from $144.00 to $153.00 and gave the stock a “buy” rating in a research report on Friday, February 14th. Piper Sandler reduced their price objective on Crocs from $125.00 to $115.00 and set an “overweight” rating on the stock in a research report on Friday, April 11th. Robert W. Baird dropped their target price on Crocs from $180.00 to $150.00 and set an “outperform” rating for the company in a research report on Monday, February 10th. Barclays reduced their price target on shares of Crocs from $125.00 to $122.00 and set an “overweight” rating on the stock in a research report on Friday, February 14th. Finally, Needham & Company LLC restated a “buy” rating and issued a $129.00 price objective on shares of Crocs in a report on Thursday, February 13th. Three research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $140.00.

Crocs Trading Up 2.3 %

Shares of CROX opened at $90.72 on Friday. The firm has a fifty day simple moving average of $101.58 and a two-hundred day simple moving average of $108.62. Crocs, Inc. has a twelve month low of $86.11 and a twelve month high of $165.32. The stock has a market capitalization of $5.09 billion, a P/E ratio of 5.67, a PEG ratio of 1.80 and a beta of 1.62. The company has a quick ratio of 0.70, a current ratio of 1.18 and a debt-to-equity ratio of 0.74.

Crocs (NASDAQ:CROX) last posted its earnings results on Thursday, February 13th. The textile maker reported $2.52 earnings per share for the quarter, topping analysts’ consensus estimates of $2.27 by $0.25. Crocs had a net margin of 23.16% and a return on equity of 46.27%. On average, research analysts anticipate 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.