Bank of America Corp DE Has $26.81 Million Stock Holdings in Crocs, Inc. (NASDAQ:CROX)

Bank of America Corp DE lessened its position in Crocs, Inc. (NASDAQ:CROX) by 61.5% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 244,755 shares of the textile maker’s stock after selling 390,186 shares during the quarter. Bank of America Corp DE owned approximately 0.42% of Crocs worth $26,808,000 as of its most recent filing with the SEC.

A number of other hedge funds have also recently bought and sold shares of the stock. Ameriprise Financial Inc. grew its stake in Crocs by 4.3% in the fourth quarter. Ameriprise Financial Inc. now owns 168,730 shares of the textile maker’s stock valued at $18,483,000 after purchasing an additional 6,970 shares in the last quarter. Caisse DE Depot ET Placement DU Quebec grew its stake in Crocs by 215.0% in the fourth quarter. Caisse DE Depot ET Placement DU Quebec now owns 372,450 shares of the textile maker’s stock valued at $40,794,000 after purchasing an additional 254,212 shares in the last quarter. Schonfeld Strategic Advisors LLC grew its stake in Crocs by 51.5% in the fourth quarter. Schonfeld Strategic Advisors LLC now owns 222,409 shares of the textile maker’s stock valued at $24,360,000 after purchasing an additional 75,582 shares in the last quarter. Lido Advisors LLC grew its stake in Crocs by 13.2% in the fourth quarter. Lido Advisors LLC now owns 5,297 shares of the textile maker’s stock valued at $580,000 after purchasing an additional 618 shares in the last quarter. Finally, Northern Trust Corp grew its stake in Crocs by 34.0% in the fourth quarter. Northern Trust Corp now owns 603,734 shares of the textile maker’s stock valued at $66,127,000 after purchasing an additional 153,215 shares in the last quarter. 93.44% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on CROX. StockNews.com lowered Crocs from a “buy” rating to a “hold” rating in a report on Thursday, February 20th. Needham & Company LLC boosted their target price on Crocs from $118.00 to $129.00 and gave the stock a “buy” rating in a report on Thursday, May 8th. Bank of America boosted their target price on Crocs from $144.00 to $153.00 and gave the stock a “buy” rating in a report on Friday, February 14th. UBS Group boosted their target price on Crocs from $122.00 to $132.00 and gave the stock a “neutral” rating in a report on Wednesday, February 19th. Finally, Barclays decreased their target price on Crocs from $122.00 to $119.00 and set an “overweight” rating on the stock in a report on Friday, May 9th. Three analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $139.79.

Crocs Price Performance

Crocs stock opened at $117.55 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. Crocs, Inc. has a 52 week low of $86.11 and a 52 week high of $165.32. The stock has a market capitalization of $6.59 billion, a P/E ratio of 7.35, a price-to-earnings-growth ratio of 1.80 and a beta of 1.46. The stock has a fifty day moving average of $101.60 and a 200-day moving average of $103.79.

Crocs (NASDAQ:CROX) last issued its earnings results on Thursday, May 8th. The textile maker reported $3.00 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.51 by $0.49. Crocs had a return on equity of 46.27% and a net margin of 23.16%. The business had revenue of $937.33 million during the quarter, compared to analysts’ expectations of $907.07 million. During the same quarter in the prior year, the firm earned $3.02 EPS. The business’s revenue for the quarter was down .1% compared to the same quarter last year. On average, sell-side analysts expect that Crocs, Inc. will post 13.2 earnings per share for the current fiscal year.

Insider Activity

In other news, EVP Adam Michaels sold 15,000 shares of the stock in a transaction dated 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 owns 89,323 shares of the company’s stock, valued at approximately $9,529,870.87. This represents a 14.38% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Ian Bickley sold 3,044 shares of the stock in a transaction dated Monday, May 12th. The shares were sold at an average price of $115.89, for a total value of $352,769.16. Following the completion of the sale, the director now directly owns 27,505 shares of the company’s stock, valued at approximately $3,187,554.45. The trade was a 9.96% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 22,703 shares of company stock valued at $2,464,444. 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.