Price T Rowe Associates Inc. MD Increases Stake in Crocs, Inc. (NASDAQ:CROX)

Price T Rowe Associates Inc. MD raised its stake in shares of Crocs, Inc. (NASDAQ:CROX) by 25.8% in the fourth quarter, HoldingsChannel reports. The institutional investor owned 262,741 shares of the textile maker’s stock after acquiring an additional 53,945 shares during the period. Price T Rowe Associates Inc. MD’s holdings in Crocs were worth $28,779,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in CROX. UMB Bank n.a. grew its holdings in shares of Crocs by 46.6% in the fourth quarter. UMB Bank n.a. now owns 447 shares of the textile maker’s stock valued at $49,000 after purchasing an additional 142 shares in the last quarter. Allianz SE bought a new position in Crocs during the 4th quarter valued at about $53,000. Wilmington Savings Fund Society FSB bought a new position in Crocs during the 3rd quarter valued at about $73,000. TD Waterhouse Canada Inc. grew its holdings in Crocs by 425.6% during the 4th quarter. TD Waterhouse Canada Inc. now owns 678 shares of the textile maker’s stock valued at $74,000 after purchasing an additional 549 shares during the last quarter. Finally, Jones Financial Companies Lllp grew its holdings in Crocs by 38.3% during the 4th quarter. Jones Financial Companies Lllp now owns 744 shares of the textile maker’s stock valued at $81,000 after purchasing an additional 206 shares during the last quarter. 93.44% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on CROX shares. StockNews.com downgraded shares of Crocs from a “buy” rating to a “hold” rating in a research note on Thursday, February 20th. Piper Sandler dropped their target price on shares of Crocs from $125.00 to $115.00 and set an “overweight” rating on the stock in a research note on Friday, April 11th. Loop Capital upped their target price on shares of Crocs from $110.00 to $125.00 and gave the stock a “buy” rating in a research note on Tuesday, April 1st. Stifel Nicolaus dropped their target price on shares of Crocs from $138.00 to $127.00 and set a “buy” rating on the stock in a research note on Thursday, April 10th. Finally, Bank of America upped their target price on shares of Crocs from $144.00 to $153.00 and gave the stock a “buy” rating in a research note on Friday, February 14th. Three analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $140.00.

Insider Activity at Crocs

In other Crocs news, EVP Adam Michaels sold 15,000 shares of the firm’s stock in a transaction on Tuesday, February 18th. The shares were sold at an average price of $106.69, for a total value of $1,600,350.00. Following the completion of the transaction, the executive vice president now owns 89,323 shares of the company’s stock, valued at approximately $9,529,870.87. This trade represents a 14.38 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, EVP Shannon Sisler sold 4,659 shares of the firm’s stock in a transaction on Friday, February 21st. The stock was sold at an average price of $109.75, for a total transaction of $511,325.25. Following the completion of the transaction, the executive vice president now directly owns 29,299 shares of the company’s stock, valued at approximately $3,215,565.25. This represents a 13.72 % decrease in their position. The disclosure for this sale can be found here. 2.72% of the stock is currently owned by corporate insiders.

Crocs Trading Up 0.3 %

NASDAQ:CROX opened at $96.42 on Thursday. Crocs, Inc. has a 52 week low of $86.11 and a 52 week high of $165.32. The firm has a 50 day moving average of $99.89 and a 200 day moving average of $105.92. The company has a quick ratio of 0.70, a current ratio of 1.18 and a debt-to-equity ratio of 0.74. The stock has a market capitalization of $5.40 billion, a price-to-earnings ratio of 6.03, a PEG ratio of 1.80 and a beta of 1.62.

Crocs (NASDAQ:CROX) last posted its earnings results on Thursday, February 13th. The textile maker reported $2.52 EPS for the quarter, beating analysts’ consensus estimates of $2.27 by $0.25. Crocs had a net margin of 23.16% and a return on equity of 46.27%. As a group, sell-side analysts anticipate that Crocs, Inc. will post 13.2 earnings per share for the current fiscal year.

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.