Neuberger Berman Group LLC Cuts Position in Crocs, Inc. (NASDAQ:CROX)

Neuberger Berman Group LLC lowered its stake in shares of Crocs, Inc. (NASDAQ:CROX) by 2.7% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 4,318 shares of the textile maker’s stock after selling 120 shares during the period. Neuberger Berman Group LLC’s holdings in Crocs were worth $473,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Arrowstreet Capital Limited Partnership grew its holdings in Crocs by 1,516.1% in the fourth quarter. Arrowstreet Capital Limited Partnership now owns 1,326,564 shares of the textile maker’s stock valued at $145,299,000 after purchasing an additional 1,244,480 shares during the last quarter. Pacer Advisors Inc. boosted its position in shares of Crocs by 39.6% in the 4th 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. Norges Bank acquired a new stake in Crocs in the 4th quarter valued at about $62,221,000. Alliancebernstein L.P. increased its holdings in Crocs by 38.9% during the 4th quarter. Alliancebernstein L.P. now owns 966,769 shares of the textile maker’s stock valued at $105,890,000 after acquiring an additional 270,598 shares in the last quarter. Finally, Contrarius Group Holdings Ltd purchased a new stake in shares of Crocs in the fourth quarter valued at about $6,259,000. 93.44% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of brokerages have recently weighed in on CROX. StockNews.com cut shares of Crocs from a “buy” rating to a “hold” rating in a research note on Thursday, February 20th. Loop Capital boosted their price target on Crocs from $110.00 to $125.00 and gave the stock a “buy” rating in a report on Tuesday, April 1st. Robert W. Baird decreased their price objective on Crocs from $180.00 to $150.00 and set an “outperform” rating on the stock in a research note on Monday, February 10th. UBS Group lifted their price objective on Crocs from $122.00 to $132.00 and gave the stock a “neutral” rating in a research report on Wednesday, February 19th. Finally, Bank of America upped their target price on shares of Crocs from $144.00 to $153.00 and gave the company a “buy” rating in a report on Friday, February 14th. Three analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. According to MarketBeat, Crocs has a consensus rating of “Moderate Buy” and an average target price of $140.00.

Crocs Stock Performance

Shares of CROX stock opened at $92.56 on Friday. The company has a debt-to-equity ratio of 0.74, a quick ratio of 0.70 and a current ratio of 1.18. The firm has a market capitalization of $5.19 billion, a price-to-earnings ratio of 5.79, a price-to-earnings-growth ratio of 1.80 and a beta of 1.62. Crocs, Inc. has a one year low of $86.11 and a one year high of $165.32. The company has a 50 day moving average price of $101.91 and a 200 day moving average price of $109.90.

Crocs (NASDAQ:CROX) last released its quarterly earnings data on Thursday, February 13th. The textile maker reported $2.52 EPS for the quarter, topping 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%. Sell-side analysts anticipate that Crocs, Inc. will post 13.2 EPS for the current year.

Insider Transactions at Crocs

In related news, EVP Adam Michaels sold 15,000 shares of the 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 completion of the sale, the executive vice president now directly owns 89,323 shares in the company, valued at approximately $9,529,870.87. This represents a 14.38 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Shannon Sisler sold 4,659 shares of the business’s stock in a transaction dated Friday, February 21st. The stock was sold at an average price of $109.75, for a total value of $511,325.25. Following the transaction, the executive vice president now owns 29,299 shares in the company, valued at approximately $3,215,565.25. This represents a 13.72 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 2.72% of the company’s stock.

Crocs 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.