Charles Schwab Investment Management Inc. Reduces Holdings in Crocs, Inc. (NASDAQ:CROX)

Charles Schwab Investment Management Inc. trimmed its holdings in shares of Crocs, Inc. (NASDAQ:CROX) by 2.9% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 707,408 shares of the textile maker’s stock after selling 21,113 shares during the period. Charles Schwab Investment Management Inc. owned about 1.21% of Crocs worth $102,440,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of the business. Banco Santander S.A. purchased a new position in shares of Crocs during the 3rd quarter worth approximately $639,000. Pacer Advisors Inc. boosted its position in Crocs by 33.8% during the third quarter. Pacer Advisors Inc. now owns 1,459,654 shares of the textile maker’s stock worth $211,372,000 after acquiring an additional 368,557 shares during the last quarter. King Luther Capital Management Corp boosted its position in Crocs by 1.2% during the third quarter. King Luther Capital Management Corp now owns 35,569 shares of the textile maker’s stock worth $5,151,000 after acquiring an additional 426 shares during the last quarter. Moran Wealth Management LLC acquired a new stake in Crocs during the third quarter worth approximately $845,000. Finally, Commerce Bank acquired a new stake in Crocs during the third quarter worth approximately $3,124,000. 93.44% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on the stock. StockNews.com lowered shares of Crocs from a “buy” rating to a “hold” rating in a research report on Wednesday, October 30th. Needham & Company LLC started coverage on shares of Crocs in a research report on Friday, November 22nd. They set a “buy” rating and a $116.00 target price on the stock. Guggenheim decreased their price target on shares of Crocs from $182.00 to $155.00 and set a “buy” rating on the stock in a report on Wednesday, October 30th. Monness Crespi & Hardt decreased their price target on shares of Crocs from $170.00 to $140.00 and set a “buy” rating on the stock in a report on Wednesday, October 30th. Finally, KeyCorp decreased their price target on shares of Crocs from $155.00 to $150.00 and set an “overweight” rating on the stock in a report on Wednesday, October 30th. Five analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $148.80.

Insider Buying and Selling

In other news, CFO Susan L. Healy purchased 1,000 shares of the company’s stock in a transaction that occurred on Wednesday, November 13th. The shares were purchased at an average price of $99.70 per share, with a total value of $99,700.00. Following the purchase, the chief financial officer now directly owns 22,652 shares of the company’s stock, valued at approximately $2,258,404.40. This represents a 4.62 % increase in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director John B. Replogle purchased 2,240 shares of the company’s stock in a transaction that occurred on Wednesday, October 30th. The shares were purchased at an average cost of $112.60 per share, for a total transaction of $252,224.00. Following the purchase, the director now directly owns 9,304 shares in the company, valued at $1,047,630.40. This trade represents a 31.71 % increase in their ownership of the stock. The disclosure for this purchase can be found here. 2.72% of the stock is currently owned by insiders.

Crocs Stock Performance

NASDAQ:CROX opened at $104.06 on Wednesday. The company has a current ratio of 1.43, a quick ratio of 0.90 and a debt-to-equity ratio of 0.82. The firm has a market capitalization of $6.06 billion, a price-to-earnings ratio of 7.55, a PEG ratio of 1.07 and a beta of 2.01. The firm’s fifty day simple moving average is $124.58 and its 200 day simple moving average is $135.52. Crocs, Inc. has a twelve month low of $85.71 and a twelve month high of $165.32.

Crocs (NASDAQ:CROX) last released its quarterly earnings results on Tuesday, October 29th. The textile maker reported $3.60 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.10 by $0.50. Crocs had a net margin of 20.50% and a return on equity of 49.70%. The firm had revenue of $1.06 billion for the quarter, compared to the consensus estimate of $1.05 billion. During the same quarter in the previous year, the firm posted $3.25 EPS. The firm’s quarterly revenue was up 1.6% on a year-over-year basis. As a group, equities research analysts expect that Crocs, Inc. will post 12.93 earnings per share for the current fiscal year.

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.