Crocs, Inc. $CROX Stock Sold by Retirement Systems of Alabama

Retirement Systems of Alabama trimmed its position in Crocs, Inc. (NASDAQ:CROX) by 19.9% in the third quarter, according to its most recent filing with the SEC. The fund owned 130,403 shares of the textile maker’s stock after selling 32,446 shares during the period. Retirement Systems of Alabama owned 0.29% of Crocs worth $15,298,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Root Financial Partners LLC acquired a new stake in Crocs in the third quarter valued at $28,000. Versant Capital Management Inc raised its holdings in Crocs by 95.9% during the 3rd quarter. Versant Capital Management Inc now owns 290 shares of the textile maker’s stock worth $34,000 after purchasing an additional 142 shares during the last quarter. Global Retirement Partners LLC acquired a new position in shares of Crocs in the 2nd quarter worth approximately $42,000. Heritage Family Offices LLP acquired a new stake in shares of Crocs during the third quarter worth $45,000. Finally, Allworth Financial LP bought a new position in Crocs during the second quarter worth $53,000. 93.44% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other Crocs news, Director Douglas Treff sold 14,802 shares of the stock in a transaction that occurred on Monday, November 2nd. The shares were sold at an average price of $152.20, for a total value of $2,252,864.40. Following the sale, the director directly owned 72,085 shares in the company, valued at $10,971,337. This represents a 17.04% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Ronald Frasch sold 15,000 shares of the business’s stock in a transaction 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 transaction, the director owned 61,180 shares of the company’s stock, valued at $9,391,741.80. This trade represents a 19.69% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 83,161 shares of company stock valued at $12,775,941 in the last three months. Insiders own 3.10% of the company’s stock.

Crocs Stock Down 1.9%

CROX opened at $156.88 on Friday. The company’s 50-day moving average price is $126.77 and its two-hundred day moving average price is $112.98. The company has a quick ratio of 0.86, a current ratio of 1.44 and a debt-to-equity ratio of 0.96. Crocs, Inc. has a twelve month low of $73.21 and a twelve month high of $161.88. The stock has a market cap of $7.17 billion, a price-to-earnings ratio of 11.72, a PEG ratio of 1.27 and a beta of 1.49.

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

Analyst Upgrades and Downgrades

Several brokerages have issued reports on CROX. Weiss Ratings raised Crocs from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Monday, October 26th. UBS Group upped their price target on Crocs from $120.00 to $145.00 and gave the stock a “neutral” rating in a research note on Friday, October 30th. Needham & Company LLC increased their target price on Crocs from $150.00 to $190.00 and gave the stock a “buy” rating in a report on Thursday, October 29th. Seaport Research Partners upped their price objective on shares of Crocs from $135.00 to $160.00 and gave the stock a “buy” rating in a report on Monday, July 20th. Finally, The Goldman Sachs Group reiterated a “sell” rating and set a $128.00 price target on shares of Crocs in a research note on Friday, October 30th. Two research analysts have rated the stock with a Strong Buy rating, twelve have given a Buy rating, four have given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $158.30.

Crocs Profile

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.