Corebridge Financial Inc. Decreases Stock Holdings in Crocs, Inc. (NASDAQ:CROX)

Corebridge Financial Inc. lessened its stake in Crocs, Inc. (NASDAQ:CROX - Free Report) by 6.1% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 66,057 shares of the textile maker's stock after selling 4,295 shares during the period. Corebridge Financial Inc. owned approximately 0.11% of Crocs worth $7,235,000 at the end of the most recent quarter.

A number of other hedge funds also recently bought and sold shares of CROX. Vanguard Group Inc. boosted its position in shares of Crocs by 0.9% in the fourth quarter. Vanguard Group Inc. now owns 5,477,574 shares of the textile maker's stock worth $599,959,000 after purchasing an additional 47,576 shares during the period. Pacer Advisors Inc. grew its stake in shares of Crocs by 39.6% in the 4th quarter. Pacer Advisors Inc. now owns 2,037,121 shares of the textile maker's stock worth $223,126,000 after buying an additional 577,467 shares in the last quarter. State Street Corp raised its position in shares of Crocs by 0.7% during the 3rd quarter. State Street Corp now owns 1,812,493 shares of the textile maker's stock valued at $262,467,000 after buying an additional 13,467 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its holdings in shares of Crocs by 1.1% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 715,422 shares of the textile maker's stock valued at $78,360,000 after acquiring an additional 8,014 shares during the last quarter. Finally, Rheos Capital Works Inc. increased its stake in Crocs by 30.6% during the fourth quarter. Rheos Capital Works Inc. now owns 192,200 shares of the textile maker's stock worth $21,052,000 after acquiring an additional 45,000 shares during the last quarter. Hedge funds and other institutional investors own 93.44% of the company's stock.

Remove Ads

Insider Activity

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

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on the company. Barclays cut their target price on Crocs from $125.00 to $122.00 and set an "overweight" rating on the stock in a research report on Friday, February 14th. Robert W. Baird lowered their target price on shares of Crocs from $180.00 to $150.00 and set an "outperform" rating for the company in a report on Monday, February 10th. Guggenheim cut their price target on shares of Crocs from $155.00 to $150.00 and set a "buy" rating on the stock in a report on Monday, February 3rd. Bank of America upped their target price on Crocs from $144.00 to $153.00 and gave the company a "buy" rating in a research note on Friday, February 14th. Finally, KeyCorp dropped their price objective on Crocs from $150.00 to $120.00 and set an "overweight" rating for the company in a report on Thursday, January 23rd. Four investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $143.53.

Crocs Stock Performance

Shares of NASDAQ:CROX traded up $0.21 during trading on Monday, hitting $106.20. The stock had a trading volume of 1,728,168 shares, compared to its average volume of 1,384,782. The stock has a 50-day simple moving average of $102.78 and a two-hundred day simple moving average of $112.81. The stock has a market capitalization of $5.95 billion, a price-to-earnings ratio of 6.64, a price-to-earnings-growth ratio of 1.80 and a beta of 1.84. Crocs, Inc. has a 12-month low of $88.25 and a 12-month high of $165.32. 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 - Get Free Report) last posted its earnings results on Thursday, February 13th. The textile maker reported $2.52 earnings per share for the quarter, beating the consensus estimate of $2.27 by $0.25. Crocs had a net margin of 23.16% and a return on equity of 46.27%. On average, equities research analysts expect that Crocs, Inc. will post 13.2 earnings per share for the current fiscal year.

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.