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

Corebridge Financial Inc. lessened its position in Crocs, Inc. (NASDAQ:CROX) by 6.1% during the 4th quarter, HoldingsChannel.com reports. The fund owned 66,057 shares of the textile maker’s stock after selling 4,295 shares during the quarter. Corebridge Financial Inc.’s holdings in Crocs were worth $7,235,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Vanguard Group Inc. raised its stake in Crocs by 0.9% in the 4th quarter. Vanguard Group Inc. now owns 5,477,574 shares of the textile maker’s stock valued at $599,959,000 after purchasing an additional 47,576 shares during the last quarter. Pacer Advisors Inc. grew its holdings in shares of Crocs by 39.6% during the fourth 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% in the third 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 during the last quarter. Charles Schwab Investment Management Inc. lifted its stake in shares of Crocs by 1.1% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 715,422 shares of the textile maker’s stock worth $78,360,000 after buying an additional 8,014 shares in the last quarter. Finally, Rheos Capital Works Inc. boosted its position 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.

Crocs Stock Down 4.2 %

NASDAQ:CROX opened at $105.99 on Friday. Crocs, Inc. has a 52 week low of $88.25 and a 52 week 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. The stock’s fifty day moving average is $102.78 and its two-hundred day moving average is $113.01. The stock has a market capitalization of $5.94 billion, a price-to-earnings ratio of 6.63, a price-to-earnings-growth ratio of 1.80 and a beta of 1.84.

Crocs (NASDAQ:CROX) last announced its earnings results on Thursday, February 13th. The textile maker reported $2.52 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%. Research analysts anticipate that Crocs, Inc. will post 13.2 EPS for the current year.

Insider Activity at Crocs

In other Crocs news, EVP Shannon Sisler sold 4,659 shares of the business’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 owns 29,299 shares in the company, valued at $3,215,565.25. The trade was a 13.72 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, EVP Adam Michaels sold 15,000 shares of the stock in a transaction on Tuesday, February 18th. The shares were sold at an average price of $106.69, for a total value 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 approximately $9,529,870.87. The trade was a 14.38 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 2.72% of the company’s stock.

Wall Street Analyst Weigh In

CROX has been the topic of a number of research reports. Barclays decreased their target price on shares of Crocs from $125.00 to $122.00 and set an “overweight” rating on the stock in a research note on Friday, February 14th. Bank of America lifted their price objective on Crocs from $144.00 to $153.00 and gave the stock a “buy” rating in a research report on Friday, February 14th. KeyCorp dropped their target price on Crocs from $150.00 to $120.00 and set an “overweight” rating for the company in a report on Thursday, January 23rd. Robert W. Baird reduced their price target on Crocs from $180.00 to $150.00 and set an “outperform” rating on the stock in a report on Monday, February 10th. Finally, StockNews.com lowered shares of Crocs from a “buy” rating to a “hold” rating in a report on Thursday, February 20th. Four equities research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. Based on data from MarketBeat.com, Crocs has an average rating of “Moderate Buy” and a consensus target price of $143.53.

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.