Teacher Retirement System of Texas Grows Stake in Crocs, Inc. (NASDAQ:CROX)

Posted by Defense World Staff on Oct 5th, 2023

Teacher Retirement System of Texas grew its holdings in Crocs, Inc. (NASDAQ:CROX – Free Report) by 5.7% during the second quarter, according to the company in its most recent filing with the SEC. The fund owned 19,032 shares of the textile maker’s stock after acquiring an additional 1,026 shares during the quarter. Teacher Retirement System of Texas’ holdings in Crocs were worth $2,140,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. Trivant Custom Portfolio Group LLC acquired a new stake in Crocs during the 1st quarter worth approximately $25,000. Harbour Investments Inc. lifted its position in Crocs by 440.0% during the 1st quarter. Harbour Investments Inc. now owns 270 shares of the textile maker’s stock worth $34,000 after acquiring an additional 220 shares during the period. Robeco Institutional Asset Management B.V. acquired a new stake in Crocs during the 1st quarter worth approximately $42,000. Atlas Capital Advisors LLC acquired a new stake in Crocs during the 1st quarter worth approximately $44,000. Finally, Assetmark Inc. acquired a new stake in Crocs during the 1st quarter worth approximately $46,000. 90.09% of the stock is owned by institutional investors and hedge funds.

Crocs Stock Down 0.5 %

Shares of NASDAQ CROX opened at $85.49 on Thursday. Crocs, Inc. has a 1 year low of $66.60 and a 1 year high of $151.32. The firm has a market cap of $5.27 billion, a price-to-earnings ratio of 7.99 and a beta of 1.90. The company has a debt-to-equity ratio of 1.69, a quick ratio of 1.00 and a current ratio of 1.65. The stock’s 50-day simple moving average is $95.42 and its 200-day simple moving average is $111.05.

Crocs (NASDAQ:CROX – Get Free Report) last announced its earnings results on Thursday, July 27th. The textile maker reported $3.59 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.98 by $0.61. Crocs had a return on equity of 81.96% and a net margin of 17.21%. The business had revenue of $1.07 billion for the quarter, compared to analyst estimates of $1.04 billion. During the same period in the previous year, the company earned $3.24 earnings per share. The company’s revenue for the quarter was up 11.2% compared to the same quarter last year. As a group, equities analysts anticipate that Crocs, Inc. will post 12.1 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on CROX. B. Riley cut Crocs from a “buy” rating to a “neutral” rating and decreased their price objective for the stock from $125.00 to $101.00 in a research report on Thursday, September 7th. Wedbush reissued an “outperform” rating and set a $133.00 target price on shares of Crocs in a research note on Tuesday, September 19th. Loop Capital cut their target price on Crocs from $185.00 to $175.00 in a research note on Friday, July 28th. Stifel Nicolaus raised Crocs from a “hold” rating to a “buy” rating and cut their target price for the stock from $140.00 to $130.00 in a research note on Thursday, July 27th. Finally, StockNews.com assumed coverage on Crocs in a research note on Thursday, August 17th. They set a “hold” rating for the company. Four research analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to data from MarketBeat, Crocs presently has an average rating of “Moderate Buy” and a consensus price target of $141.86.

Read Our Latest Research Report on CROX

Insider Transactions at Crocs

In other Crocs news, Director Thomas J. Smach bought 478 shares of the company’s stock in a transaction dated Friday, July 28th. The shares were acquired at an average cost of $104.53 per share, with a total value of $49,965.34. Following the completion of the transaction, the director now owns 203,362 shares in the company, valued at $21,257,429.86. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In related news, President Michelle Poole sold 5,102 shares of the business’s stock in a transaction dated Tuesday, August 15th. The stock was sold at an average price of $98.39, for a total value of $501,985.78. Following the completion of the sale, the president now directly owns 97,141 shares of the company’s stock, valued at $9,557,702.99. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Thomas J. Smach acquired 478 shares of the stock in a transaction that occurred on Friday, July 28th. The stock was purchased at an average cost of $104.53 per share, with a total value of $49,965.34. Following the completion of the acquisition, the director now owns 203,362 shares of the company’s stock, valued at $21,257,429.86. The disclosure for this purchase can be found here. Over the last ninety days, insiders have acquired 6,468 shares of company stock valued at $648,318. 2.69% of the stock is currently owned by insiders.

About Crocs

(Free Report)

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.