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

Corebridge Financial Inc. decreased its position in shares of Crocs, Inc. (NASDAQ:CROX) by 6.1% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 66,057 shares of the textile maker’s stock after selling 4,295 shares during the period. Corebridge Financial Inc. owned 0.11% of Crocs worth $7,235,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors also recently bought and sold shares of the company. Vanguard Group Inc. increased its position in shares of Crocs by 0.9% during the fourth quarter. Vanguard Group Inc. now owns 5,477,574 shares of the textile maker’s stock worth $599,959,000 after purchasing an additional 47,576 shares in the last quarter. Pacer Advisors Inc. increased its position in Crocs by 39.6% during the 4th quarter. Pacer Advisors Inc. now owns 2,037,121 shares of the textile maker’s stock valued at $223,126,000 after buying an additional 577,467 shares in the last quarter. State Street Corp increased its position in Crocs by 0.7% during the 3rd 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 in the last quarter. Charles Schwab Investment Management Inc. boosted its holdings in 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 acquiring an additional 8,014 shares in the last quarter. Finally, Rheos Capital Works Inc. grew its stake in shares of 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. 93.44% of the stock is currently owned by institutional investors and hedge funds.

Crocs Stock Down 4.2 %

Shares of CROX stock opened at $105.99 on Friday. The company has a current ratio of 1.18, a quick ratio of 0.70 and a debt-to-equity ratio of 0.74. Crocs, Inc. has a twelve month low of $88.25 and a twelve month high of $165.32. The stock has a 50 day moving average of $102.78 and a 200 day moving average of $113.01. The stock has a market cap of $5.94 billion, a P/E ratio of 6.63, a P/E/G ratio of 1.80 and a beta of 1.84.

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

Wall Street Analysts Forecast Growth

Several brokerages recently commented on CROX. UBS Group increased their price objective on shares of Crocs from $122.00 to $132.00 and gave the company a “neutral” rating in a research report on Wednesday, February 19th. KeyCorp decreased their price target on shares of Crocs from $150.00 to $120.00 and set an “overweight” rating for the company in a report on Thursday, January 23rd. Barclays dropped their price objective on shares of Crocs from $125.00 to $122.00 and set an “overweight” rating on the stock in a report on Friday, February 14th. Robert W. Baird reduced their target price on Crocs from $180.00 to $150.00 and set an “outperform” rating for the company in a research note on Monday, February 10th. Finally, Bank of America boosted their price target on Crocs from $144.00 to $153.00 and gave the company a “buy” rating in a research note on Friday, February 14th. Four analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $143.53.

Insider Transactions at Crocs

In related news, EVP Shannon Sisler sold 4,659 shares of the company’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 completion of the transaction, the executive vice president now owns 29,299 shares of the company’s stock, valued at approximately $3,215,565.25. This represents a 13.72 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Adam Michaels sold 15,000 shares of the firm’s stock in a transaction that occurred 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 directly 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. Corporate insiders own 2.72% of the company’s stock.

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.