New York Life Investment Management LLC Raises Position in Crocs, Inc. (NASDAQ:CROX)

New York Life Investment Management LLC increased its position in Crocs, Inc. (NASDAQ:CROX) by 6.7% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 6,912 shares of the textile maker’s stock after buying an additional 435 shares during the quarter. New York Life Investment Management LLC’s holdings in Crocs were worth $646,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also recently made changes to their positions in CROX. WIT Partners Advisory Pte. Ltd. purchased a new position in Crocs in the 4th quarter worth approximately $266,431,000. Chase Investment Counsel Corp raised its stake in shares of Crocs by 27.9% in the fourth quarter. Chase Investment Counsel Corp now owns 11,000 shares of the textile maker’s stock worth $1,027,000 after purchasing an additional 2,400 shares during the last quarter. Retirement Systems of Alabama lifted its holdings in shares of Crocs by 35.3% during the fourth quarter. Retirement Systems of Alabama now owns 155,657 shares of the textile maker’s stock valued at $14,540,000 after purchasing an additional 40,588 shares in the last quarter. Truist Financial Corp boosted its position in shares of Crocs by 46.9% during the fourth quarter. Truist Financial Corp now owns 12,330 shares of the textile maker’s stock valued at $1,152,000 after buying an additional 3,939 shares during the last quarter. Finally, Meritage Portfolio Management increased its holdings in Crocs by 48.9% in the 4th quarter. Meritage Portfolio Management now owns 6,994 shares of the textile maker’s stock worth $653,000 after buying an additional 2,297 shares in the last quarter. 93.44% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of analysts have recently issued reports on CROX shares. UBS Group raised their price target on shares of Crocs from $124.00 to $148.00 and gave the company a “neutral” rating in a report on Wednesday. Piper Sandler lifted their target price on shares of Crocs from $135.00 to $140.00 and gave the stock an “overweight” rating in a research report on Friday, February 16th. Barclays boosted their target price on shares of Crocs from $167.00 to $169.00 and gave the company an “overweight” rating in a research note on Wednesday. Monness Crespi & Hardt raised their price target on Crocs from $140.00 to $170.00 and gave the stock a “buy” rating in a research note on Wednesday. Finally, OTR Global upgraded Crocs from a “mixed” rating to a “positive” rating in a research report on Thursday, April 11th. Four 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 company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $150.42.

Insider Buying and Selling

In other news, EVP Daniel P. Hart sold 10,000 shares of the business’s stock in a transaction dated Friday, February 23rd. The stock was sold at an average price of $118.48, for a total value of $1,184,800.00. Following the transaction, the executive vice president now directly owns 219,293 shares in the company, valued at $25,981,834.64. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In other news, Director Ian Bickley sold 16,785 shares of the business’s stock in a transaction on Friday, February 16th. The shares were sold at an average price of $120.05, for a total value of $2,015,039.25. Following the transaction, the director now owns 31,815 shares of the company’s stock, valued at $3,819,390.75. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, EVP Daniel P. Hart sold 10,000 shares of the firm’s stock in a transaction on Friday, February 23rd. The shares were sold at an average price of $118.48, for a total transaction of $1,184,800.00. Following the transaction, the executive vice president now directly owns 219,293 shares of the company’s stock, valued at $25,981,834.64. The disclosure for this sale can be found here. In the last quarter, insiders sold 39,867 shares of company stock valued at $4,786,276. Company insiders own 2.72% of the company’s stock.

Crocs Stock Performance

Shares of CROX opened at $135.42 on Thursday. The business has a 50-day simple moving average of $129.81 and a two-hundred day simple moving average of $110.00. The company has a quick ratio of 0.75, a current ratio of 1.30 and a debt-to-equity ratio of 1.13. Crocs, Inc. has a 52 week low of $74.00 and a 52 week high of $146.79. The stock has a market cap of $8.22 billion, a price-to-earnings ratio of 10.57, a PEG ratio of 1.56 and a beta of 2.03.

Crocs (NASDAQ:CROX) last released its earnings results on Tuesday, May 7th. The textile maker reported $3.02 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.25 by $0.77. Crocs had a net margin of 20.00% and a return on equity of 61.97%. The company had revenue of $938.60 million during the quarter, compared to analyst estimates of $884.29 million. During the same period in the prior year, the firm posted $2.61 EPS. The firm’s quarterly revenue was up 6.2% compared to the same quarter last year. On average, analysts expect that Crocs, Inc. will post 12.44 EPS for the current year.

Crocs Company 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.