Crocs, Inc. $CROX Position Reduced by Retirement Systems of Alabama

Retirement Systems of Alabama lowered its stake in Crocs, Inc. (NASDAQ:CROX) by 19.9% during the 3rd quarter, Holdings Channel reports. The institutional investor owned 130,403 shares of the textile maker’s stock after selling 32,446 shares during the period. Retirement Systems of Alabama’s holdings in Crocs were worth $15,298,000 at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in the stock. Commonwealth Equity Services LLC grew its holdings in Crocs by 3.2% in the 3rd quarter. Commonwealth Equity Services LLC now owns 3,066 shares of the textile maker’s stock worth $360,000 after acquiring an additional 95 shares during the last quarter. Fifth Third Wealth Advisors LLC boosted its holdings in Crocs by 5.8% in the third quarter. Fifth Third Wealth Advisors LLC now owns 1,864 shares of the textile maker’s stock valued at $219,000 after acquiring an additional 103 shares in the last quarter. Versant Capital Management Inc increased its position in Crocs by 95.9% during the 3rd quarter. Versant Capital Management Inc now owns 290 shares of the textile maker’s stock valued at $34,000 after purchasing an additional 142 shares during the period. PNC Financial Services Group Inc. lifted its position in shares of Crocs by 4.1% in the 1st quarter. PNC Financial Services Group Inc. now owns 4,490 shares of the textile maker’s stock worth $373,000 after purchasing an additional 176 shares during the period. Finally, Root Financial Partners LLC bought a new stake in shares of Crocs during the 3rd quarter valued at about $28,000. Hedge funds and other institutional investors own 93.44% of the company’s stock.

Crocs Stock Down 1.9%

Crocs stock opened at $156.88 on Friday. The stock has a market cap of $7.17 billion, a PE ratio of 11.72, a price-to-earnings-growth ratio of 1.27 and a beta of 1.49. The company has a debt-to-equity ratio of 0.96, a quick ratio of 0.86 and a current ratio of 1.44. The stock has a fifty day moving average of $126.77 and a 200 day moving average of $112.98. Crocs, Inc. has a one year low of $73.21 and a one year high of $161.88.

Crocs (NASDAQ:CROX) last announced its earnings results on Thursday, October 29th. The textile maker reported $3.69 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.31 by $0.38. Crocs had a net margin of 16.20% and a return on equity of 49.35%. The company had revenue of $1.04 billion during the quarter, compared to analyst estimates of $1 billion. During the same period in the previous year, the business posted $2.92 earnings per share. The firm’s quarterly revenue was up 4.7% compared to the same quarter last year. As a group, sell-side analysts predict that Crocs, Inc. will post 14.62 EPS for the current year.

Insider Activity

In other news, Director Ronald Frasch sold 15,000 shares of Crocs stock in a transaction that occurred on Friday, October 30th. The shares were sold at an average price of $153.51, for a total transaction of $2,302,650.00. Following the sale, the director owned 61,180 shares in the company, valued at $9,391,741.80. This trade represents a 19.69% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Douglas J. Treff sold 10,714 shares of the firm’s stock in a transaction on Wednesday, November 4th. The shares were sold at an average price of $159.21, for a total transaction of $1,705,775.94. Following the transaction, the director directly owned 61,371 shares of the company’s stock, valued at $9,770,876.91. The trade was a 14.86% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders sold 83,161 shares of company stock worth $12,775,941. 3.10% of the stock is currently owned by insiders.

Analyst Ratings Changes

A number of research analysts have weighed in on the company. Barclays upped their target price on Crocs from $139.00 to $178.00 and gave the stock an “overweight” rating in a report on Friday, October 30th. Robert W. Baird set a $163.00 target price on shares of Crocs in a report on Friday, July 31st. Zacks Research raised Crocs from a “hold” rating to a “strong-buy” rating in a research report on Friday, October 30th. Seaport Research Partners raised their price target on Crocs from $135.00 to $160.00 and gave the company a “buy” rating in a report on Monday, July 20th. Finally, Weiss Ratings raised shares of Crocs from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Monday, October 26th. Two analysts have rated the stock with a Strong Buy rating, twelve have assigned a Buy rating, four have assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $158.30.

About Crocs

Crocs, Inc. designs, markets and distributes casual footwear and related accessories. Its products include clogs, sandals, shoes and boots, with customizable Jibbitz charms among its accessories. The company sells products under the Crocs and HEYDUDE brands. Founded in 2002, Crocs became known for its lightweight molded clogs. It expanded its portfolio with the acquisition of casual footwear brand HEYDUDE in 2022. Crocs serves consumers worldwide through wholesale partners, retail stores and e-commerce.