Federated Hermes Inc. Reduces Stock Position in Crocs, Inc. (NASDAQ:CROX)

Federated Hermes Inc. decreased its position in shares of Crocs, Inc. (NASDAQ:CROX) by 24.7% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 6,566 shares of the textile maker’s stock after selling 2,153 shares during the quarter. Federated Hermes Inc.’s holdings in Crocs were worth $958,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of CROX. Nordea Investment Management AB grew its holdings in Crocs by 17.0% in the first quarter. Nordea Investment Management AB now owns 51,189 shares of the textile maker’s stock valued at $7,292,000 after purchasing an additional 7,448 shares during the last quarter. Alaska Permanent Fund Corp increased its holdings in Crocs by 282.2% during the 1st quarter. Alaska Permanent Fund Corp now owns 15,478 shares of the textile maker’s stock valued at $2,226,000 after acquiring an additional 11,428 shares in the last quarter. Tyro Capital Management LLC acquired a new position in Crocs during the fourth quarter worth about $10,481,000. Boston Partners purchased a new stake in shares of Crocs in the first quarter valued at about $10,771,000. Finally, Artisan Partners Limited Partnership increased its stake in shares of Crocs by 25.7% during the 4th quarter. Artisan Partners Limited Partnership now owns 248,925 shares of the textile maker’s stock worth $23,252,000 after purchasing an additional 50,881 shares in the last quarter. 93.44% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several brokerages have recently issued reports on CROX. Piper Sandler restated an “overweight” rating and issued a $170.00 price objective on shares of Crocs in a research report on Friday, August 23rd. Barclays decreased their price target on shares of Crocs from $169.00 to $164.00 and set an “overweight” rating on the stock in a research note on Friday, August 2nd. Bank of America boosted their price objective on shares of Crocs from $160.00 to $187.00 and gave the company a “buy” rating in a research report on Thursday, June 20th. StockNews.com upgraded shares of Crocs from a “hold” rating to a “buy” rating in a research report on Friday, August 23rd. Finally, UBS Group cut their price target on Crocs from $148.00 to $146.00 and set a “neutral” rating for the company in a report on Tuesday, July 16th. Two analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $160.27.

Crocs Price Performance

CROX opened at $139.05 on Friday. Crocs, Inc. has a 52-week low of $74.00 and a 52-week high of $165.32. The company has a 50 day moving average of $134.34 and a two-hundred day moving average of $137.81. The company has a market cap of $8.44 billion, a P/E ratio of 10.76, a P/E/G ratio of 1.29 and a beta of 2.00. The company has a quick ratio of 0.95, a current ratio of 1.50 and a debt-to-equity ratio of 0.93.

Crocs (NASDAQ:CROX) last announced 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. The firm had revenue of $1.11 billion during the quarter, compared to the consensus estimate of $1.10 billion. Crocs had a return on equity of 53.20% and a net margin of 20.02%. The firm’s quarterly revenue was up 3.6% compared to the same quarter last year. During the same period in the prior year, the firm earned $3.59 EPS. On average, analysts expect that Crocs, Inc. will post 12.85 earnings per share for the current year.

Insider Buying and Selling

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