New York State Teachers Retirement System Trims Holdings in Crocs, Inc. (NASDAQ:CROX)

New York State Teachers Retirement System decreased its stake in shares of Crocs, Inc. (NASDAQ:CROX) by 11.4% during the first quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 64,676 shares of the textile maker’s stock after selling 8,333 shares during the quarter. New York State Teachers Retirement System owned about 0.12% of Crocs worth $6,869,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. Arrowstreet Capital Limited Partnership raised its position in Crocs by 1,516.1% in the fourth quarter. Arrowstreet Capital Limited Partnership now owns 1,326,564 shares of the textile maker’s stock valued at $145,299,000 after purchasing an additional 1,244,480 shares during the period. Norges Bank purchased a new stake in Crocs in the fourth quarter valued at $62,221,000. Altshuler Shaham Ltd raised its position in Crocs by 30,778.0% in the fourth quarter. Altshuler Shaham Ltd now owns 456,995 shares of the textile maker’s stock valued at $50,055,000 after purchasing an additional 455,515 shares during the period. Fuller & Thaler Asset Management Inc. raised its position in Crocs by 49.0% in the fourth quarter. Fuller & Thaler Asset Management Inc. now owns 1,308,402 shares of the textile maker’s stock valued at $143,309,000 after purchasing an additional 429,994 shares during the period. Finally, T. Rowe Price Investment Management Inc. raised its position in Crocs by 167.5% in the fourth quarter. T. Rowe Price Investment Management Inc. now owns 490,544 shares of the textile maker’s stock valued at $53,730,000 after purchasing an additional 307,185 shares during the period. Hedge funds and other institutional investors own 93.44% of the company’s stock.

Insider Activity

In other news, Director Ian Bickley sold 3,044 shares of the business’s stock in a transaction dated Monday, May 12th. The stock was sold at an average price of $115.89, for a total value of $352,769.16. Following the completion of the sale, the director directly owned 27,505 shares of the company’s stock, valued at approximately $3,187,554.45. The trade was a 9.96% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 3.00% of the company’s stock.

Crocs Trading Up 0.7%

NASDAQ:CROX opened at $107.50 on Friday. The stock has a 50-day simple moving average of $104.64 and a 200-day simple moving average of $103.33. The stock has a market cap of $6.03 billion, a P/E ratio of 6.59, a P/E/G ratio of 2.23 and a beta of 1.38. Crocs, Inc. has a 1 year low of $86.11 and a 1 year high of $151.13. The company has a debt-to-equity ratio of 0.75, a quick ratio of 0.97 and a current ratio of 1.52.

Crocs (NASDAQ:CROX) last released its quarterly earnings data on Thursday, May 8th. The textile maker reported $3.00 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.51 by $0.49. The business had revenue of $937.33 million during the quarter, compared to analysts’ expectations of $907.07 million. Crocs had a return on equity of 43.07% and a net margin of 23.35%. The business’s quarterly revenue was down .1% compared to the same quarter last year. During the same period in the prior year, the firm posted $3.02 EPS. As a group, analysts anticipate that Crocs, Inc. will post 13.2 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of research firms have commented on CROX. Barclays reduced their target price on Crocs from $122.00 to $119.00 and set an “overweight” rating on the stock in a research report on Friday, May 9th. Piper Sandler reduced their target price on Crocs from $125.00 to $115.00 and set an “overweight” rating on the stock in a research report on Friday, April 11th. Bank of America reduced their target price on Crocs from $140.00 to $135.00 and set a “buy” rating on the stock in a research report on Monday, June 30th. Stifel Nicolaus reduced their target price on Crocs from $138.00 to $127.00 and set a “buy” rating on the stock in a research report on Thursday, April 10th. Finally, Needham & Company LLC lifted their price objective on Crocs from $118.00 to $129.00 and gave the company a “buy” rating in a research note on Thursday, May 8th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and twelve have issued a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $135.13.

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.