Posted by admin on Jul 9th, 2022

State of Alaska Department of Revenue lessened its holdings in shares of Crocs, Inc. (NASDAQ:CROX – Get Rating) by 2.7% during the first quarter, Holdings Channel.com reports. The institutional investor owned 8,289 shares of the textile maker’s stock after selling 230 shares during the quarter. State of Alaska Department of Revenue’s holdings in Crocs were worth $633,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Northwestern Mutual Wealth Management Co. acquired a new position in Crocs during the fourth quarter worth approximately $32,000. National Bank of Canada FI acquired a new position in Crocs during the fourth quarter worth approximately $36,000. Western Pacific Wealth Management LP acquired a new position in Crocs during the fourth quarter worth approximately $38,000. Sageworth Trust Co of South Dakota acquired a new position in Crocs during the fourth quarter worth approximately $44,000. Finally, Parallel Advisors LLC increased its position in Crocs by 1,545.5% during the fourth quarter. Parallel Advisors LLC now owns 362 shares of the textile maker’s stock worth $46,000 after buying an additional 340 shares during the last quarter. 90.14% of the stock is currently owned by hedge funds and other institutional investors.

CROX has been the subject of a number of research analyst reports. StockNews.com cut Crocs from a “buy” rating to a “hold” rating in a report on Saturday, May 14th. B. Riley reduced their price objective on Crocs from $153.00 to $128.00 in a report on Friday, May 6th. Stifel Nicolaus reduced their price objective on Crocs from $101.00 to $59.00 in a report on Friday, May 6th. Robert W. Baird reduced their price objective on Crocs from $200.00 to $120.00 in a report on Thursday, May 12th. Finally, Wedbush assumed coverage on Crocs in a report on Thursday, April 28th. They set an “outperform” rating and a $90.00 price objective for the company. Four investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $133.67.

Shares of CROX opened at $58.08 on Friday. Crocs, Inc. has a one year low of $46.08 and a one year high of $183.88. The company has a market cap of $3.58 billion, a P/E ratio of 5.23, a P/E/G ratio of 0.33 and a beta of 1.87. The company has a debt-to-equity ratio of 8.17, a current ratio of 1.96 and a quick ratio of 1.19. The firm has a 50 day simple moving average of $54.98 and a two-hundred day simple moving average of $79.41.

Crocs (NASDAQ:CROX – Get Rating) last announced its quarterly earnings data on Thursday, May 5th. The textile maker reported $2.05 EPS for the quarter, beating the consensus estimate of $1.56 by $0.49. Crocs had a net margin of 27.85% and a return on equity of 206.72%. The business had revenue of $660.15 million during the quarter, compared to the consensus estimate of $621.81 million. During the same period in the previous year, the business earned $1.49 earnings per share. The company’s revenue was up 43.5% on a year-over-year basis. On average, analysts expect that Crocs, Inc. will post 10.56 earnings per share for the current fiscal year.

In related news, Director Thomas J. Smach purchased 5,000 shares of the stock in a transaction dated Wednesday, May 25th. The stock was bought at an average cost of $49.99 per share, for a total transaction of $249,950.00. Following the completion of the acquisition, the director now owns 10,000 shares of the company’s stock, valued at $499,900. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CFO Anne Mehlman purchased 2,600 shares of the stock in a transaction dated Monday, May 9th. The shares were bought at an average price of $54.91 per share, with a total value of $142,766.00. Following the completion of the acquisition, the chief financial officer now directly owns 121,153 shares of the company’s stock, valued at approximately $6,652,511.23. The disclosure for this purchase can be found here. Over the last 90 days, insiders have acquired 17,600 shares of company stock valued at $947,066. Company insiders own 2.71% of the company’s stock.

Crocs, Inc, together with its subsidiaries, designs, develops, manufactures, markets, and distributes casual lifestyle footwear and accessories for men, women, and children. It offers various footwear products, including clogs, sandals, slides, flip-flops, boots, flats, wedges, platforms, socks, shoe charms, loafers, sneakers, and slippers under the Crocs brand name.

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