Crocs, Inc. (NASDAQ:CROX) Stock Position Raised by Clearbridge Investments LLC

Clearbridge Investments LLC lifted its holdings in Crocs, Inc. (NASDAQ:CROX) by 17.2% in the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 618,400 shares of the textile maker’s stock after acquiring an additional 90,956 shares during the quarter. Clearbridge Investments LLC’s holdings in Crocs were worth $57,765,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also modified their holdings of the business. BI Asset Management Fondsmaeglerselskab A S purchased a new stake in shares of Crocs during the fourth quarter worth $387,000. Dynamic Technology Lab Private Ltd raised its position in Crocs by 234.5% during the fourth quarter. Dynamic Technology Lab Private Ltd now owns 21,339 shares of the textile maker’s stock valued at $1,993,000 after acquiring an additional 14,959 shares in the last quarter. Norges Bank acquired a new stake in Crocs in the fourth quarter valued at approximately $72,211,000. Manchester Capital Management LLC grew its position in Crocs by 1,673.5% in the fourth quarter. Manchester Capital Management LLC now owns 603 shares of the textile maker’s stock worth $56,000 after acquiring an additional 569 shares in the last quarter. Finally, Sheaff Brock Investment Advisors LLC increased its stake in shares of Crocs by 5.1% during the 4th quarter. Sheaff Brock Investment Advisors LLC now owns 15,418 shares of the textile maker’s stock worth $1,440,000 after purchasing an additional 751 shares during the last quarter. Hedge funds and other institutional investors own 93.44% of the company’s stock.

Crocs Stock Down 2.0 %

NASDAQ CROX opened at $141.54 on Thursday. The stock’s 50 day simple moving average is $133.40 and its 200 day simple moving average is $113.91. Crocs, Inc. has a one year low of $74.00 and a one year high of $148.16. The firm has a market cap of $8.59 billion, a PE ratio of 10.96, a price-to-earnings-growth ratio of 1.63 and a beta of 2.03. The company has a debt-to-equity ratio of 1.08, a current ratio of 1.76 and a quick ratio of 1.14.

Crocs (NASDAQ:CROX) last announced its earnings results on Tuesday, May 7th. The textile maker reported $3.02 EPS for the quarter, topping the consensus estimate of $2.25 by $0.77. Crocs had a return on equity of 56.33% and a net margin of 19.80%. The company had revenue of $938.60 million for the quarter, compared to analysts’ expectations of $884.29 million. During the same quarter in the prior year, the business earned $2.61 earnings per share. The business’s revenue for the quarter was up 6.2% on a year-over-year basis. As a group, sell-side analysts forecast that Crocs, Inc. will post 12.66 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on the company. Piper Sandler raised their price objective on Crocs from $135.00 to $140.00 and gave the company an “overweight” rating in a research note on Friday, February 16th. Monness Crespi & Hardt raised their price target on Crocs from $140.00 to $170.00 and gave the company a “buy” rating in a research report on Wednesday, May 8th. Raymond James lifted their price target on shares of Crocs from $120.00 to $145.00 and gave the stock a “strong-buy” rating in a research note on Friday, February 16th. B. Riley raised their price objective on shares of Crocs from $95.00 to $122.00 and gave the stock a “neutral” rating in a report on Wednesday, April 10th. Finally, UBS Group upped their target price on shares of Crocs from $124.00 to $148.00 and gave the company a “neutral” rating in a research note on Wednesday, May 8th. Four research analysts have rated the stock with a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, Crocs currently has an average rating of “Moderate Buy” and a consensus target price of $151.75.

Insiders Place Their Bets

In related news, Director John B. Replogle bought 1,972 shares of the company’s stock in a transaction on Thursday, March 14th. The stock was bought at an average cost of $126.75 per share, with a total value of $249,951.00. Following the completion of the purchase, the director now owns 3,153 shares in the company, valued at approximately $399,642.75. The acquisition was disclosed in a legal filing with the SEC, which is available at this hyperlink. In related news, Director Thomas J. Smach sold 10,174 shares of Crocs stock in a transaction dated Friday, May 10th. The stock was sold at an average price of $140.32, for a total value of $1,427,615.68. Following the completion of the sale, the director now directly owns 115,339 shares in the company, valued at $16,184,368.48. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director John B. Replogle acquired 1,972 shares of the business’s stock in a transaction that occurred on Thursday, March 14th. The stock was acquired at an average price of $126.75 per share, for a total transaction of $249,951.00. Following the completion of the acquisition, the director now directly owns 3,153 shares of the company’s stock, valued at $399,642.75. The disclosure for this purchase can be found here. Insiders have sold a total of 28,463 shares of company stock valued at $3,627,767 in the last 90 days. 2.72% of the stock is currently owned by insiders.

Crocs Profile

Crocs, Inc, together with its subsidiaries, designs, develops, manufactures, markets, distributes, and sells casual lifestyle footwear and accessories for men, women, and children under Crocs and HEYDUDE Brand in the United States and internationally. The company offers various footwear products, including clogs, sandals, slides, flips, wedges, platforms, socks, boots, charms, flip flops, sneakers, and slippers.