AQR Capital Management LLC Sells 536,065 Shares of Crocs, Inc. (NASDAQ:CROX)

AQR Capital Management LLC reduced its holdings in shares of Crocs, Inc. (NASDAQ:CROX) by 82.7% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 111,868 shares of the textile maker’s stock after selling 536,065 shares during the quarter. AQR Capital Management LLC owned approximately 0.18% of Crocs worth $16,163,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in the business. Vanguard Group Inc. boosted its position in Crocs by 1.4% during the first quarter. Vanguard Group Inc. now owns 5,572,643 shares of the textile maker’s stock worth $801,346,000 after purchasing an additional 76,460 shares during the period. Pacer Advisors Inc. boosted its holdings in shares of Crocs by 15.1% during the 2nd quarter. Pacer Advisors Inc. now owns 1,091,097 shares of the textile maker’s stock worth $159,235,000 after buying an additional 142,944 shares during the period. Coatue Management LLC grew its stake in Crocs by 836.7% in the 4th quarter. Coatue Management LLC now owns 1,029,765 shares of the textile maker’s stock valued at $96,190,000 after buying an additional 919,835 shares during the last quarter. Thrivent Financial for Lutherans raised its holdings in Crocs by 1.3% in the 2nd quarter. Thrivent Financial for Lutherans now owns 901,973 shares of the textile maker’s stock valued at $131,634,000 after acquiring an additional 11,986 shares during the period. Finally, Dimensional Fund Advisors LP lifted its position in Crocs by 12.8% during the second quarter. Dimensional Fund Advisors LP now owns 790,225 shares of the textile maker’s stock worth $115,322,000 after acquiring an additional 89,610 shares during the last quarter. 93.44% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities analysts have recently weighed in 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. StockNews.com raised Crocs from a “hold” rating to a “buy” rating in a report on Friday, August 23rd. KeyCorp upped their price target on shares of Crocs from $149.00 to $155.00 and gave the company an “overweight” rating in a research note on Thursday, September 26th. Williams Trading upgraded shares of Crocs from a “hold” rating to a “buy” rating and lifted their price objective for the stock from $135.00 to $163.00 in a research note on Thursday, August 22nd. Finally, Barclays decreased their target price on shares of Crocs from $169.00 to $164.00 and set an “overweight” rating on the stock in a research report on Friday, August 2nd. Two investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $160.82.

Crocs Stock Performance

Shares of NASDAQ:CROX opened at $141.63 on Wednesday. Crocs, Inc. has a 1 year low of $74.00 and a 1 year high of $165.32. The stock has a market capitalization of $8.60 billion, a price-to-earnings ratio of 10.96, a price-to-earnings-growth ratio of 1.44 and a beta of 2.00. The company has a debt-to-equity ratio of 0.93, a current ratio of 1.50 and a quick ratio of 0.95. The company’s 50 day simple moving average is $135.84 and its 200 day simple moving average is $138.81.

Crocs (NASDAQ:CROX) last issued its quarterly earnings results on Thursday, August 1st. The textile maker reported $4.01 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.59 by $0.42. Crocs had a return on equity of 53.20% and a net margin of 20.02%. The company had revenue of $1.11 billion for the quarter, compared to analyst estimates of $1.10 billion. During the same quarter last year, the company posted $3.59 EPS. The company’s revenue for the quarter was up 3.6% compared to the same quarter last year. As a group, research analysts predict that Crocs, Inc. will post 12.85 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, Director John B. Replogle purchased 1,996 shares of Crocs stock in a transaction dated Friday, August 2nd. The shares were bought at an average cost of $123.96 per share, for a total transaction of $247,424.16. Following the purchase, the director now owns 7,064 shares in the company, valued at approximately $875,653.44. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In other Crocs news, Director Douglas J. Treff sold 10,594 shares of the stock in a transaction dated Thursday, August 8th. The stock was sold at an average price of $132.38, for a total value of $1,402,433.72. Following the completion of the transaction, the director now directly owns 81,254 shares in the company, valued at $10,756,404.52. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director John B. Replogle purchased 1,996 shares of the business’s stock in a transaction dated Friday, August 2nd. The shares were purchased at an average cost of $123.96 per share, for a total transaction of $247,424.16. Following the completion of the purchase, the director now directly owns 7,064 shares of the company’s stock, valued at approximately $875,653.44. The disclosure for this purchase can be found here. Insiders own 2.72% of the company’s stock.

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.