Crocs, Inc. $CROX Shares Sold by Maryland State Retirement & Pension System

Maryland State Retirement & Pension System lowered its position in Crocs, Inc. (NASDAQ:CROX) by 21.3% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,668 shares of the textile maker’s stock after selling 723 shares during the period. Maryland State Retirement & Pension System’s holdings in Crocs were worth $283,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. Victory Capital Management Inc. grew its holdings in shares of Crocs by 29.6% in the 1st quarter. Victory Capital Management Inc. now owns 36,563 shares of the textile maker’s stock worth $3,883,000 after acquiring an additional 8,353 shares during the period. Walter Public Investments Inc. grew its holdings in shares of Crocs by 5.6% in the 1st quarter. Walter Public Investments Inc. now owns 70,475 shares of the textile maker’s stock worth $7,484,000 after acquiring an additional 3,736 shares during the period. D.A. Davidson & CO. grew its holdings in shares of Crocs by 184.3% in the 1st quarter. D.A. Davidson & CO. now owns 7,083 shares of the textile maker’s stock worth $752,000 after acquiring an additional 4,592 shares during the period. Jefferies Financial Group Inc. acquired a new stake in shares of Crocs in the 4th quarter worth approximately $419,000. Finally, PFG Investments LLC acquired a new stake in shares of Crocs in the 1st quarter worth approximately $1,297,000. Institutional investors and hedge funds own 93.44% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on CROX shares. Stifel Nicolaus restated a “hold” rating and issued a $85.00 price target (down previously from $127.00) on shares of Crocs in a report on Friday, August 8th. Monness Crespi & Hardt reduced their target price on Crocs from $140.00 to $92.00 and set a “buy” rating on the stock in a research note on Friday, August 8th. UBS Group reduced their target price on Crocs from $110.00 to $85.00 and set a “neutral” rating on the stock in a research note on Monday, August 11th. The Goldman Sachs Group reduced their target price on Crocs from $88.00 to $87.00 and set a “sell” rating on the stock in a research note on Tuesday, July 22nd. Finally, Needham & Company LLC reduced their target price on Crocs from $129.00 to $89.00 and set a “buy” rating on the stock in a research note on Thursday, August 7th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and nine have given a buy rating to the company. According to data from MarketBeat, Crocs has a consensus rating of “Moderate Buy” and an average price target of $108.92.

Crocs Trading Down 2.1%

Shares of Crocs stock opened at $82.88 on Tuesday. Crocs, Inc. has a fifty-two week low of $73.76 and a fifty-two week high of $151.13. The firm has a market cap of $4.53 billion, a PE ratio of 22.22, a P/E/G ratio of 1.95 and a beta of 1.41. The business’s fifty day moving average is $99.48 and its two-hundred day moving average is $101.26. The company has a quick ratio of 0.97, a current ratio of 1.54 and a debt-to-equity ratio of 0.97.

Crocs (NASDAQ:CROX) last issued its quarterly earnings results on Thursday, August 7th. The textile maker reported $4.23 earnings per share for the quarter, topping analysts’ consensus estimates of $4.01 by $0.22. Crocs had a return on equity of 44.15% and a net margin of 5.72%. The company had revenue of $1.15 billion for the quarter, compared to analyst estimates of $1.15 billion. During the same quarter in the prior year, the company posted $4.01 EPS. The business’s revenue for the quarter was up 3.4% compared to the same quarter last year. Analysts anticipate that Crocs, Inc. will post 13.2 earnings per share for the current year.

Insiders Place Their Bets

In other news, Director John B. Replogle acquired 3,261 shares of the company’s stock in a transaction dated Friday, August 8th. The stock was acquired at an average cost of $76.69 per share, for a total transaction of $250,086.09. Following the acquisition, the director directly owned 15,417 shares in the company, valued at approximately $1,182,329.73. This represents a 26.83% increase in their position. The purchase was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP Susan L. Healy acquired 2,000 shares of the company’s stock in a transaction dated Tuesday, August 12th. The shares were purchased at an average price of $76.56 per share, with a total value of $153,120.00. Following the completion of the acquisition, the executive vice president owned 50,078 shares in the company, valued at approximately $3,833,971.68. The trade was a 4.16% increase in their ownership of the stock. The disclosure for this purchase can be found here. Corporate insiders own 2.72% of the company’s stock.

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.