Shares of the casual footwear maker Crocs (NASDAQ:CROX) closed 20.3% higher on Monday following the management’s impressive Q4 and 2023 sales guidance. Crocs expects its Q4 sales to grow over 1%, compared to its previous guidance of 1-4% decline. Meanwhile, 2023 revenue could grow over 11%, slightly higher than its earlier growth outlook of 10-11%. As CROX’s guidance gave a significant lift to its shares, it’s the right time to delve into its ownership structure.
Now, according to TipRanks’ ownership page, Crocs is mostly owned by mutual funds at 31.67%, followed by public companies and individual investors, other institutional investors, and insiders at 25.61%, 22.88%, and 19.83%, respectively.
Digging Deeper into CROX’s Ownership Structure
Looking closely at institutions (Mutual Funds and Other Institutional Investors), Vanguard owns the most significant stake in Crocs stock, which stands at 8.84%. This is followed by iShares, which holds an 8.51% stake in the company.
Among the institutions, the Hedge Fund Confidence Signal is Negative on CROX based on the activity of 17 hedge funds. Notably, Hedge Funds decreased their holdings by 147.1K shares in the last quarter.
While the hedge fund confidence signal is negative, individual investors have a Positive view of the company, given that in the last 30 days, the number of portfolios (tracked by TipRanks) holding the stock increased by 2.6%. Overall, among the 709,557 portfolios monitored by TipRanks, 0.3% have invested in Crocs stock.
Is Crocs a Good Stock to Buy?
While Crocs stock has mixed signals from hedge funds and individual investors, Wall Street remains optimistic about its prospects.
CROX stock has a Strong Buy consensus rating based on nine Buy and two Hold recommendations. Further, analysts’ average price target of $125.09 implies an upside potential of 20.24% over the next 12 months.
Conclusion
The Ownership tool from TipRanks offers valuable insights into CROX’s category-wise ownership structure, enabling investors to make informed investment decisions.
