Barrow Hanley Mewhinney & Strauss LLC reduced its position in shares of Crocs, Inc. (NASDAQ:CROX) by 5.8% in the first quarter, Holdings Channel reports. The fund owned 378,779 shares of the textile maker’s stock after selling 23,262 shares during the quarter. Barrow Hanley Mewhinney & Strauss LLC’s holdings in Crocs were worth $6,155,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also recently bought and sold shares of the company. SG Americas Securities LLC bought a new position in shares of Crocs during the 1st quarter valued at approximately $184,000. Guggenheim Capital LLC bought a new position in shares of Crocs during the 1st quarter valued at approximately $229,000. LPL Financial LLC bought a new position in shares of Crocs during the 1st quarter valued at approximately $232,000. Element Capital Management LLC bought a new position in shares of Crocs during the 1st quarter valued at approximately $247,000. Finally, Investors Research Corp bought a new position in shares of Crocs during the 4th quarter valued at approximately $265,000. Hedge funds and other institutional investors own 97.19% of the company’s stock.
Shares of CROX opened at $19.12 on Thursday. The firm has a market capitalization of $1.30 billion, a P/E ratio of -956.00, a P/E/G ratio of 4.82 and a beta of 0.30. Crocs, Inc. has a 52-week low of $7.15 and a 52-week high of $19.54.
Crocs (NASDAQ:CROX) last issued its quarterly earnings results on Tuesday, May 8th. The textile maker reported $0.15 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.13 by $0.02. The company had revenue of $283.15 million during the quarter, compared to the consensus estimate of $272.21 million. Crocs had a return on equity of 8.10% and a net margin of 1.51%. Crocs’s revenue was up 5.7% on a year-over-year basis. During the same period last year, the company earned $0.08 earnings per share. analysts anticipate that Crocs, Inc. will post 0.26 EPS for the current year.
Crocs announced that its board has authorized a share repurchase program on Wednesday, February 28th that allows the company to repurchase $431.00 million in outstanding shares. This repurchase authorization allows the textile maker to buy shares of its stock through open market purchases. Stock repurchase programs are typically an indication that the company’s leadership believes its stock is undervalued.
A number of brokerages recently issued reports on CROX. Piper Jaffray Companies set a $20.00 price target on Crocs and gave the stock a “buy” rating in a research report on Friday, June 1st. BidaskClub upgraded Crocs from a “hold” rating to a “buy” rating in a research report on Friday, June 1st. Zacks Investment Research upgraded Crocs from a “strong sell” rating to a “hold” rating in a research report on Wednesday, May 9th. Stifel Nicolaus downgraded Crocs from a “buy” rating to a “hold” rating and raised their price target for the stock from $16.00 to $17.00 in a research report on Wednesday, May 9th. Finally, Pivotal Research set a $15.00 price target on Crocs and gave the stock a “hold” rating in a research report on Tuesday, May 8th. Two equities research analysts have rated the stock with a sell rating, five have given a hold rating, two have given a buy rating and one has issued a strong buy rating to the company’s stock. The stock has an average rating of “Hold” and a consensus price target of $14.43.
Crocs Company Profile
Crocs, Inc, together with its subsidiaries, designs, develops, manufactures, markets, and distributes casual lifestyle footwear and accessories for men, women, and children worldwide. It offers various footwear products, including clogs, sandals, flips and slides, shoes, and boots under the Crocs brand name.
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