Crocs, Inc. (NASDAQ:CROX) Shares Sold by Teacher Retirement System of Texas

Teacher Retirement System of Texas trimmed its stake in Crocs, Inc. (NASDAQ:CROX) by 45.9% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 11,130 shares of the textile maker’s stock after selling 9,433 shares during the quarter. Teacher Retirement System of Texas’ holdings in Crocs were worth $1,040,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in the stock. WIT Partners Advisory Pte. Ltd. acquired a new position in Crocs in the 4th quarter valued at about $266,431,000. Assenagon Asset Management S.A. lifted its stake in shares of Crocs by 60.1% during the third quarter. Assenagon Asset Management S.A. now owns 1,024,452 shares of the textile maker’s stock valued at $90,387,000 after buying an additional 384,390 shares during the period. Pacer Advisors Inc. boosted its position in Crocs by 13.4% during the fourth quarter. Pacer Advisors Inc. now owns 771,305 shares of the textile maker’s stock worth $72,048,000 after acquiring an additional 91,318 shares during the last quarter. AQR Capital Management LLC grew its stake in Crocs by 141.1% in the 3rd quarter. AQR Capital Management LLC now owns 720,554 shares of the textile maker’s stock worth $63,574,000 after acquiring an additional 421,712 shares during the period. Finally, Charles Schwab Investment Management Inc. raised its holdings in Crocs by 4.9% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 705,383 shares of the textile maker’s stock valued at $65,890,000 after acquiring an additional 33,053 shares during the last quarter. 93.44% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of brokerages have recently commented on CROX. Monness Crespi & Hardt lifted their price objective on Crocs from $140.00 to $170.00 and gave the company a “buy” rating in a research report on Wednesday, May 8th. B. Riley increased 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. UBS Group boosted their target price on shares of Crocs from $124.00 to $148.00 and gave the company a “neutral” rating in a report on Wednesday, May 8th. Raymond James increased 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. Finally, Stifel Nicolaus boosted their price objective on shares of Crocs from $140.00 to $158.00 and gave the company a “buy” rating in a research note on Wednesday, May 8th. Four equities research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $151.75.

Insider Activity

In other Crocs news, Director Ian Bickley sold 3,215 shares of the company’s stock in a transaction that occurred on Friday, February 23rd. The stock was sold at an average price of $118.57, for a total value of $381,202.55. Following the transaction, the director now directly owns 28,600 shares of the company’s stock, valued at approximately $3,391,102. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. In other Crocs news, Director Ian Bickley sold 3,215 shares of the company’s stock in a transaction that occurred on Friday, February 23rd. The stock was sold at an average price of $118.57, for a total transaction of $381,202.55. Following the sale, the director now owns 28,600 shares in the company, valued at $3,391,102. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Director John B. Replogle bought 1,972 shares of Crocs stock in a transaction on Thursday, March 14th. The shares were purchased at an average cost of $126.75 per share, for a total transaction of $249,951.00. Following the acquisition, the director now owns 3,153 shares in the company, valued at $399,642.75. The disclosure for this purchase can be found here. Insiders sold 28,463 shares of company stock worth $3,627,767 over the last ninety days. Corporate insiders own 2.72% of the company’s stock.

Crocs Stock Performance

Crocs stock opened at $144.42 on Wednesday. The firm has a market capitalization of $8.77 billion, a PE ratio of 11.18, a price-to-earnings-growth ratio of 1.60 and a beta of 2.03. Crocs, Inc. has a one year low of $74.00 and a one year high of $148.16. The stock’s 50 day moving average price is $133.16 and its 200 day moving average price is $113.72. The company has a debt-to-equity ratio of 1.08, a quick ratio of 1.14 and a current ratio of 1.76.

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

About Crocs

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.