Crocs, Inc. $CROX Shares Sold by Thrivent Financial for Lutherans

Thrivent Financial for Lutherans lowered its holdings in Crocs, Inc. (NASDAQ:CROX) by 45.6% in the third quarter, according to the company in its most recent disclosure with the SEC. The firm owned 417,824 shares of the textile maker’s stock after selling 350,480 shares during the quarter. Thrivent Financial for Lutherans owned 0.77% of Crocs worth $34,909,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also made changes to their positions in CROX. Arizona State Retirement System lifted its stake in shares of Crocs by 1.5% in the third quarter. Arizona State Retirement System now owns 16,580 shares of the textile maker’s stock valued at $1,385,000 after purchasing an additional 248 shares during the period. Great Lakes Advisors LLC acquired a new stake in shares of Crocs during the 3rd quarter valued at approximately $227,000. TD Waterhouse Canada Inc. purchased a new stake in shares of Crocs during the 3rd quarter worth approximately $3,206,000. Federated Hermes Inc. boosted its stake in shares of Crocs by 5.7% during the 3rd quarter. Federated Hermes Inc. now owns 7,390 shares of the textile maker’s stock worth $617,000 after acquiring an additional 396 shares in the last quarter. Finally, Belpointe Asset Management LLC grew its holdings in shares of Crocs by 4.7% in the 3rd quarter. Belpointe Asset Management LLC now owns 4,796 shares of the textile maker’s stock worth $401,000 after acquiring an additional 216 shares during the period. 93.44% of the stock is owned by institutional investors and hedge funds.

Crocs Price Performance

Crocs stock opened at $86.88 on Tuesday. The stock has a market capitalization of $4.51 billion, a P/E ratio of 28.30 and a beta of 1.54. Crocs, Inc. has a 12-month low of $73.21 and a 12-month high of $122.84. The company has a debt-to-equity ratio of 0.97, a current ratio of 1.40 and a quick ratio of 0.83. The firm’s 50-day moving average is $86.60 and its two-hundred day moving average is $85.57.

Analyst Ratings Changes

Several equities analysts recently issued reports on CROX shares. Barclays lifted their price objective on Crocs from $81.00 to $86.00 and gave the stock an “equal weight” rating in a report on Friday, October 31st. Citigroup downgraded Crocs to a “negative” rating in a research note on Tuesday, October 7th. Weiss Ratings cut shares of Crocs from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Monday, January 26th. Monness Crespi & Hardt raised their target price on shares of Crocs from $92.00 to $100.00 and gave the company a “buy” rating in a report on Friday, October 31st. Finally, Robert W. Baird restated a “neutral” rating and set a $100.00 target price on shares of Crocs in a research report on Wednesday, January 7th. Four analysts have rated the stock with a Buy rating, seven have given a Hold rating and three have assigned a Sell rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $94.64.

Insiders Place Their Bets

In other Crocs news, Director John B. Replogle purchased 3,000 shares of the firm’s stock in a transaction on Tuesday, November 11th. The shares were purchased at an average cost of $74.50 per share, with a total value of $223,500.00. Following the purchase, the director owned 18,417 shares in the company, valued at approximately $1,372,066.50. This represents a 19.46% increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Company insiders own 3.00% of the company’s stock.

About Crocs

Crocs, Inc is a global footwear designer, developer and distributor best known for its lightweight, proprietary Croslite™ foam-clog construction. The company’s product portfolio encompasses a range of styles, including clogs, sandals, slides, boots and sneakers, all featuring the slip-resistant, odor-resistant and cushion-providing qualities of the Croslite material. Crocs distributes its products through an omnichannel network that includes e-commerce platforms, company-owned retail stores, authorized dealers and wholesale partners.

Founded in 2002 by Scott Seamans, Lyndon “Duke” Hanson and George Boedecker Jr., Crocs launched its first clog on the island of Vail, Colorado.