Bank of New York Mellon Corp Cuts Position in Crocs, Inc. (NASDAQ:CROX)

Bank of New York Mellon Corp trimmed its position in Crocs, Inc. (NASDAQ:CROX) by 3.7% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 467,966 shares of the textile maker’s stock after selling 17,742 shares during the quarter. Bank of New York Mellon Corp owned 0.80% of Crocs worth $51,256,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of the company. Janney Montgomery Scott LLC grew its stake in shares of Crocs by 23.6% in the third quarter. Janney Montgomery Scott LLC now owns 21,189 shares of the textile maker’s stock valued at $3,068,000 after buying an additional 4,051 shares in the last quarter. Van ECK Associates Corp grew its stake in shares of Crocs by 40.0% in the third quarter. Van ECK Associates Corp now owns 36,618 shares of the textile maker’s stock valued at $5,303,000 after buying an additional 10,463 shares in the last quarter. QRG Capital Management Inc. grew its stake in shares of Crocs by 15.9% in the third quarter. QRG Capital Management Inc. now owns 2,213 shares of the textile maker’s stock valued at $320,000 after buying an additional 303 shares in the last quarter. Catalyst Capital Advisors LLC grew its stake in shares of Crocs by 2,775.6% in the third quarter. Catalyst Capital Advisors LLC now owns 7,908 shares of the textile maker’s stock valued at $1,145,000 after buying an additional 7,633 shares in the last quarter. Finally, Townsend & Associates Inc grew its stake in shares of Crocs by 1.5% in the third quarter. Townsend & Associates Inc now owns 129,423 shares of the textile maker’s stock valued at $18,742,000 after buying an additional 1,975 shares in the last quarter. 93.44% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on CROX shares. Bank of America increased 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. Guggenheim lowered their target price on Crocs from $155.00 to $150.00 and set a “buy” rating for the company in a research note on Monday, February 3rd. Needham & Company LLC restated a “buy” rating and set a $129.00 price objective on shares of Crocs in a research note on Thursday, February 13th. Loop Capital lowered Crocs from a “buy” rating to a “hold” rating and lowered their price objective for the company from $150.00 to $110.00 in a research note on Thursday, November 7th. Finally, KeyCorp lowered their price objective on Crocs from $150.00 to $120.00 and set an “overweight” rating for the company in a research note on Thursday, January 23rd. Five equities research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $143.53.

Crocs Price Performance

Shares of NASDAQ CROX opened at $103.85 on Thursday. Crocs, Inc. has a twelve month low of $88.25 and a twelve month high of $165.32. The company has a current ratio of 1.18, a quick ratio of 0.70 and a debt-to-equity ratio of 0.74. The company has a market capitalization of $5.82 billion, a price-to-earnings ratio of 6.49, a price-to-earnings-growth ratio of 1.80 and a beta of 1.84. The business has a 50 day simple moving average of $104.30 and a 200-day simple moving average of $117.11.

Crocs (NASDAQ:CROX) last released its quarterly earnings data on Thursday, February 13th. The textile maker reported $2.52 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.27 by $0.25. Crocs had a return on equity of 46.27% and a net margin of 23.16%. As a group, equities research analysts expect that Crocs, Inc. will post 13.2 earnings per share for the current year.

Insiders Place Their Bets

In other news, EVP Adam Michaels sold 15,000 shares of the business’s stock in a transaction on Tuesday, February 18th. The stock was sold at an average price of $106.69, for a total value of $1,600,350.00. Following the sale, the executive vice president now owns 89,323 shares of the company’s stock, valued at approximately $9,529,870.87. The trade was a 14.38 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Shannon Sisler sold 4,659 shares of the business’s stock in a transaction on Friday, February 21st. The stock was sold at an average price of $109.75, for a total value of $511,325.25. Following the sale, the executive vice president now directly owns 29,299 shares in the company, valued at $3,215,565.25. This trade 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 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.