Fulcrum Asset Management LLP Acquires New Stake in Crocs, Inc. $CROX

Fulcrum Asset Management LLP bought a new stake in shares of Crocs, Inc. (NASDAQ:CROX) during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The fund bought 12,646 shares of the textile maker’s stock, valued at approximately $1,551,000.

A number of other institutional investors and hedge funds have also modified their holdings of CROX. BlackRock Inc. acquired a new stake in Crocs during the 2nd quarter worth about $561,223,000. Patient Capital Management LLC acquired a new position in shares of Crocs in the 2nd quarter valued at about $96,443,000. Bank of New York Mellon Corp acquired a new position in shares of Crocs in the 2nd quarter valued at about $39,610,000. Bank of America Corp DE acquired a new position in shares of Crocs in the 2nd quarter valued at about $33,820,000. Finally, Baird Financial Group Inc. increased its holdings in shares of Crocs by 450.1% in the 2nd quarter. Baird Financial Group Inc. now owns 166,345 shares of the textile maker’s stock valued at $20,068,000 after purchasing an additional 136,106 shares during the period. Hedge funds and other institutional investors own 93.44% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have recently issued reports on CROX shares. Monness Crespi & Hardt increased their price target on shares of Crocs from $130.00 to $160.00 and gave the stock a “buy” rating in a research report on Friday, July 31st. Zacks Research upgraded Crocs from a “hold” rating to a “strong-buy” rating in a research note on Friday, October 30th. The Goldman Sachs Group reaffirmed a “sell” rating and issued a $128.00 target price on shares of Crocs in a research report on Friday, October 30th. Weiss Ratings raised Crocs from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Monday, October 26th. Finally, UBS Group raised their price target on Crocs from $120.00 to $145.00 and gave the stock a “neutral” rating in a research note on Friday, October 30th. Two investment analysts have rated the stock with a Strong Buy rating, twelve have issued a Buy rating, four have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $158.30.

Insiders Place Their Bets

In other news, Director Ronald Frasch sold 15,000 shares of Crocs stock in a transaction that occurred on Friday, October 30th. The shares were sold at an average price of $153.51, for a total value of $2,302,650.00. Following the completion of the transaction, the director owned 61,180 shares in the company, valued at approximately $9,391,741.80. The trade was a 19.69% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Andrew Rees sold 40,000 shares of the business’s stock in a transaction on Tuesday, November 3rd. The stock was sold at an average price of $152.89, for a total value of $6,115,600.00. Following the completion of the transaction, the chief executive officer directly owned 673,293 shares in the company, valued at approximately $102,939,766.77. This represents a 5.61% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 83,161 shares of company stock worth $12,775,941 in the last 90 days. 3.10% of the stock is owned by corporate insiders.

Crocs Stock Up 0.2%

Shares of CROX stock opened at $159.98 on Thursday. Crocs, Inc. has a 12 month low of $73.21 and a 12 month high of $161.88. The firm has a market cap of $7.32 billion, a PE ratio of 11.95, a price-to-earnings-growth ratio of 1.27 and a beta of 1.49. The stock has a 50 day moving average of $125.95 and a 200-day moving average of $112.61. The company has a quick ratio of 0.86, a current ratio of 1.44 and a debt-to-equity ratio of 0.96.

Crocs (NASDAQ:CROX) last announced its quarterly earnings data on Thursday, October 29th. The textile maker reported $3.69 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.31 by $0.38. The business had revenue of $1.04 billion for the quarter, compared to the consensus estimate of $1 billion. Crocs had a net margin of 16.20% and a return on equity of 49.35%. Crocs’s quarterly revenue was up 4.7% on a year-over-year basis. During the same quarter last year, the company posted $2.92 earnings per share. On average, equities analysts predict that Crocs, Inc. will post 14.62 EPS for the current year.

About Crocs

Crocs, Inc. designs, markets and distributes casual footwear and related accessories. Its products include clogs, sandals, shoes and boots, with customizable Jibbitz charms among its accessories. The company sells products under the Crocs and HEYDUDE brands. Founded in 2002, Crocs became known for its lightweight molded clogs. It expanded its portfolio with the acquisition of casual footwear brand HEYDUDE in 2022. Crocs serves consumers worldwide through wholesale partners, retail stores and e-commerce.