Principal Financial Group Inc. Reduces Stock Position in Crocs, Inc. (NASDAQ:CROX)

Principal Financial Group Inc. lowered its stake in Crocs, Inc. (NASDAQ:CROX - Free Report) by 31.9% during the third quarter, according to the company in its most recent filing with the SEC. The fund owned 137,723 shares of the textile maker's stock after selling 64,467 shares during the period. Principal Financial Group Inc. owned approximately 0.23% of Crocs worth $19,944,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently modified their holdings of the business. Financial Management Professionals Inc. boosted its position in Crocs by 11,200.0% in the third quarter. Financial Management Professionals Inc. now owns 226 shares of the textile maker's stock valued at $33,000 after buying an additional 224 shares in the last quarter. GHP Investment Advisors Inc. boosted its holdings in Crocs by 375.0% in the second quarter. GHP Investment Advisors Inc. now owns 228 shares of the textile maker's stock worth $33,000 after acquiring an additional 180 shares in the last quarter. UMB Bank n.a. lifted its position in shares of Crocs by 64.9% during the 3rd quarter. UMB Bank n.a. now owns 305 shares of the textile maker's stock worth $44,000 after buying an additional 120 shares in the last quarter. V Square Quantitative Management LLC boosted its stake in shares of Crocs by 83.0% in the 3rd quarter. V Square Quantitative Management LLC now owns 313 shares of the textile maker's stock worth $45,000 after buying an additional 142 shares during the last quarter. Finally, Blue Trust Inc. grew its stake in Crocs by 19.3% in the 2nd quarter. Blue Trust Inc. now owns 1,001 shares of the textile maker's stock valued at $144,000 after purchasing an additional 162 shares during the period. Institutional investors own 93.44% of the company's stock.

Crocs Price Performance

Shares of NASDAQ CROX traded up $0.90 during mid-day trading on Thursday, reaching $99.86. 1,774,411 shares of the company were exchanged, compared to its average volume of 1,347,484. Crocs, Inc. has a 52 week low of $85.71 and a 52 week high of $165.32. The company's 50 day moving average price is $129.17 and its 200 day moving average price is $137.07. The stock has a market capitalization of $5.82 billion, a PE ratio of 7.18, a PEG ratio of 1.03 and a beta of 2.01. The company has a quick ratio of 0.90, a current ratio of 1.43 and a debt-to-equity ratio of 0.82.

Crocs (NASDAQ:CROX - Get Free Report) last released its quarterly earnings results on Tuesday, October 29th. The textile maker reported $3.60 earnings per share for the quarter, beating analysts' consensus estimates of $3.10 by $0.50. Crocs had a return on equity of 49.70% and a net margin of 20.50%. The business had revenue of $1.06 billion for the quarter, compared to the consensus estimate of $1.05 billion. During the same quarter last year, the business posted $3.25 earnings per share. The company's revenue for the quarter was up 1.6% on a year-over-year basis. Sell-side analysts forecast that Crocs, Inc. will post 12.93 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of equities research analysts have recently commented on the company. Piper Sandler reiterated an "overweight" rating and set a $170.00 target price on shares of Crocs in a research note on Friday, August 23rd. Loop Capital downgraded shares of Crocs from a "buy" rating to a "hold" rating and reduced their target price for the company from $150.00 to $110.00 in a research report on Thursday, November 7th. UBS Group lowered their price target on shares of Crocs from $146.00 to $122.00 and set a "neutral" rating on the stock in a report on Wednesday, October 30th. Robert W. Baird decreased their price target on Crocs from $190.00 to $180.00 and set an "outperform" rating on the stock in a research report on Wednesday, October 30th. Finally, Guggenheim cut their price objective on shares of Crocs from $182.00 to $155.00 and set a "buy" rating for the company in a research report on Wednesday, October 30th. Five analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of $151.14.

Insider Activity at Crocs

In other news, Director John B. Replogle bought 2,240 shares of the business's stock in a transaction on Wednesday, October 30th. The stock was acquired at an average price of $112.60 per share, with a total value of $252,224.00. Following the completion of the purchase, the director now directly owns 9,304 shares in the company, valued at $1,047,630.40. This represents a 31.71 % increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. 2.72% of the stock is currently owned by insiders.

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.