State Board of Administration of Florida Retirement System cut its stake in Crocs, Inc. (NASDAQ:CROX – Free Report) by 9.2% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 17,157 shares of the textile maker’s stock after selling 1,740 shares during the period. State Board of Administration of Florida Retirement System’s holdings in Crocs were worth $2,169,000 at the end of the most recent reporting period.
Other institutional investors have also modified their holdings of the company. Two Sigma Investments LP raised its holdings in Crocs by 412.4% during the first quarter. Two Sigma Investments LP now owns 1,122,217 shares of the textile maker’s stock worth $141,893,000 after purchasing an additional 903,214 shares during the last quarter. Morgan Stanley raised its stake in shares of Crocs by 97.9% during the 4th quarter. Morgan Stanley now owns 1,300,768 shares of the textile maker’s stock worth $141,042,000 after buying an additional 643,578 shares during the last quarter. Two Sigma Advisers LP boosted its position in shares of Crocs by 278.9% in the 1st quarter. Two Sigma Advisers LP now owns 849,600 shares of the textile maker’s stock worth $107,423,000 after buying an additional 625,400 shares in the last quarter. Arrowstreet Capital Limited Partnership acquired a new stake in Crocs in the 1st quarter valued at about $64,644,000. Finally, Fullerton Fund Management Co Ltd. purchased a new position in Crocs during the 4th quarter valued at about $46,029,000. Hedge funds and other institutional investors own 90.09% of the company’s stock.
Analyst Ratings Changes
Several analysts have recently commented on CROX shares. Wedbush reiterated an “outperform” rating and issued a $133.00 price target on shares of Crocs in a research report on Tuesday. B. Riley downgraded Crocs from a “buy” rating to a “neutral” rating and dropped their price target for the stock from $125.00 to $101.00 in a research report on Thursday, September 7th. Stifel Nicolaus upgraded Crocs from a “hold” rating to a “buy” rating and reduced their price objective for the company from $140.00 to $130.00 in a research report on Thursday, July 27th. Raymond James initiated coverage on Crocs in a research report on Tuesday, June 13th. They set a “market perform” rating for the company. Finally, Loop Capital reduced their target price on shares of Crocs from $185.00 to $175.00 in a report on Friday, July 28th. Six research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Hold” and an average price target of $141.86.
Crocs Trading Up 2.4 %
Shares of CROX stock opened at $89.68 on Wednesday. Crocs, Inc. has a 1-year low of $65.17 and a 1-year high of $151.32. The firm’s 50-day simple moving average is $103.84 and its 200-day simple moving average is $113.56. The firm has a market cap of $5.53 billion, a P/E ratio of 8.38 and a beta of 1.90. The company has a debt-to-equity ratio of 1.69, a current ratio of 1.65 and a quick ratio of 1.00.
Crocs (NASDAQ:CROX – Get Free Report) last announced its quarterly earnings results on Thursday, July 27th. The textile maker reported $3.59 earnings per share for the quarter, beating analysts’ consensus estimates of $2.98 by $0.61. The company had revenue of $1.07 billion for the quarter, compared to analyst estimates of $1.04 billion. Crocs had a net margin of 17.21% and a return on equity of 81.96%. Crocs’s revenue for the quarter was up 11.2% on a year-over-year basis. During the same quarter last year, the business earned $3.24 EPS. As a group, equities analysts forecast that Crocs, Inc. will post 12.1 EPS for the current year.
Insiders Place Their Bets
In other news, CFO Anne Mehlman acquired 1,950 shares of Crocs stock in a transaction dated Friday, August 11th. The shares were acquired at an average cost of $101.62 per share, with a total value of $198,159.00. Following the purchase, the chief financial officer now directly owns 103,057 shares of the company’s stock, valued at approximately $10,472,652.34. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this link. In other Crocs news, CFO Anne Mehlman acquired 1,950 shares of the company’s stock in a transaction dated Friday, August 11th. The stock was bought at an average price of $101.62 per share, with a total value of $198,159.00. Following the completion of the transaction, the chief financial officer now directly owns 103,057 shares of the company’s stock, valued at $10,472,652.34. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Douglas J. Treff bought 2,114 shares of Crocs stock in a transaction that occurred on Friday, August 18th. The shares were acquired at an average price of $94.61 per share, for a total transaction of $200,005.54. Following the acquisition, the director now directly owns 99,770 shares in the company, valued at approximately $9,439,239.70. The disclosure for this purchase can be found here. Insiders bought 6,468 shares of company stock worth $648,318 over the last three months. 2.69% of the stock is owned by insiders.
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, slides, flips, wedges, platforms, socks, boots, shoe charms, and slippers under the Crocs brand name.
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