Arrowstreet Capital Limited Partnership has significantly reduced its holdings in Crocs, Inc. (NASDAQ:CROX), divesting 639,970 shares during the second quarter of 2023. According to the latest Form 13F filing with the Securities and Exchange Commission, this move decreased Arrowstreet’s stake by 48.7%, leaving it with 673,686 shares valued at approximately $68.2 million.
Institutional investors have been active in Crocs as well, with several firms adjusting their positions. For instance, Costello Asset Management INC acquired a new stake in Crocs worth about $32,000 during the first quarter. Similarly, Brooklyn Investment Group entered into a new investment in the same quarter, valued at $40,000. Allworth Financial LP notably increased its stake by 120.7% in the second quarter, now owning 448 shares worth $45,000 after purchasing an additional 245 shares. Ameritas Advisory Services LLC and the Employees Retirement System of Texas also bought new positions in Crocs during this period, valued at $48,000 and $49,000 respectively. Hedge funds and other institutional investors now collectively hold 93.44% of Crocs’ stock.
Analysts have recently provided varied assessments of Crocs, with several notable changes in ratings. Monness Crespi & Hardt raised its target price from $92.00 to $100.00, maintaining a “buy” rating. Zacks Research upgraded Crocs from a “hold” to a “strong-buy” rating. Conversely, Bank of America slightly decreased its price target from $99.00 to $98.00 while still endorsing a “buy” rating. KeyCorp adjusted its target down from $120.00 to $95.00, and Stifel Nicolaus raised its target from $85.00 to $90.00, rating the stock as a “hold.” Overall, the stock receives an average rating of “Hold” with a consensus target price of $103.42 from analysts, according to MarketBeat.com.
In related news, on November 11, 2023, Crocs Director John B. Replogle purchased 3,000 shares at an average price of $74.50 each, totaling $223,500. Following this transaction, Replogle holds 18,417 shares of the company, representing a significant increase of 19.46% in his position. This acquisition was disclosed in a filing with the SEC, which is accessible to the public.
Crocs’ stock performance has been noteworthy. As of the latest trading day, it opened at $88.24. The company currently shows a fifty-day moving average of $81.79 and a two-hundred-day moving average of $90.88. Crocs has a market capitalization of $4.58 billion and a price-to-earnings ratio of 28.74, with a beta of 1.54. The stock reached a fifty-two-week low of $73.21 and a high of $122.84.
On October 30, 2023, Crocs reported its latest earnings, revealing earnings per share (EPS) of $2.92, surpassing analyst expectations of $2.36 by $0.56. The company generated revenue of $996.3 million, exceeding the consensus estimate of $960.14 million. However, this revenue reflects a 6.2% decrease compared to the same quarter the previous year, when the company reported an EPS of $3.60. For the fourth quarter of 2025, Crocs has provided guidance of $1.820 to $1.92 EPS. Analysts project an annual EPS of 13.2 for Crocs, indicating a focus on recovery in the upcoming quarters.
Crocs, Inc. designs, manufactures, and markets casual lifestyle footwear and accessories for a diverse demographic under its own brand and the HEYDUDE brand. The company offers a wide range of products, including clogs, sandals, and various other footwear options, catering to both domestic and international markets.
