Bank of New York Mellon Corp Sells 29,657 Shares of Crocs, Inc. (NASDAQ:CROX)

Bank of New York Mellon Corp reduced its holdings in Crocs, Inc. (NASDAQ:CROX) by 6.3% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The fund owned 438,309 shares of the textile maker’s stock after selling 29,657 shares during the quarter. Bank of New York Mellon Corp owned about 0.78% of Crocs worth $46,548,000 as of its most recent filing with the SEC.

A number of other institutional investors have also made changes to their positions in CROX. Allianz SE acquired a new stake in Crocs in the 4th quarter valued at approximately $53,000. Salem Investment Counselors Inc. acquired a new stake in shares of Crocs in the first quarter worth $53,000. Ameriflex Group Inc. bought a new position in Crocs during the fourth quarter worth $54,000. Compagnie Lombard Odier SCmA acquired a new position in Crocs during the 1st quarter valued at $58,000. Finally, Parallel Advisors LLC raised its stake in Crocs by 26.5% during the 1st quarter. Parallel Advisors LLC now owns 630 shares of the textile maker’s stock valued at $67,000 after purchasing an additional 132 shares during the last quarter. 93.44% of the stock is currently owned by institutional investors.

Crocs Trading Down 2.0%

Shares of CROX stock opened at $103.75 on Monday. The company has a market capitalization of $5.82 billion, a P/E ratio of 6.36, a P/E/G ratio of 2.16 and a beta of 1.38. Crocs, Inc. has a 12-month low of $86.11 and a 12-month high of $151.13. The company has a quick ratio of 0.97, a current ratio of 1.52 and a debt-to-equity ratio of 0.75. The firm has a 50-day moving average price of $105.56 and a 200 day moving average price of $103.07.

Crocs (NASDAQ:CROX) last posted its earnings results on Thursday, May 8th. The textile maker reported $3.00 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.51 by $0.49. The company had revenue of $937.33 million during the quarter, compared to analysts’ expectations of $907.07 million. Crocs had a net margin of 23.35% and a return on equity of 43.07%. Crocs’s quarterly revenue was down .1% compared to the same quarter last year. During the same quarter in the previous year, the company posted $3.02 earnings per share. Research analysts forecast that Crocs, Inc. will post 13.2 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Crocs news, Director Ian Bickley sold 3,044 shares of the business’s 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 transaction, the director directly owned 27,505 shares of the company’s stock, valued at approximately $3,187,554.45. The trade was a 9.96% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 2.72% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

Several research analysts have recently issued reports on the stock. Stifel Nicolaus dropped their price objective on shares of Crocs from $138.00 to $127.00 and set a “buy” rating on the stock in a report on Thursday, April 10th. Bank of America lowered their price target on Crocs from $140.00 to $135.00 and set a “buy” rating on the stock in a research note on Monday, June 30th. Needham & Company LLC raised their price objective on Crocs from $118.00 to $129.00 and gave the stock a “buy” rating in a research report on Thursday, May 8th. Piper Sandler decreased their price objective on Crocs from $125.00 to $115.00 and set an “overweight” rating on the stock in a report on Friday, April 11th. Finally, The Goldman Sachs Group started coverage on Crocs in a research report on Wednesday, July 2nd. They set a “sell” rating and a $88.00 price objective on the stock. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and twelve have issued a buy rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $135.13.

Crocs Company 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.