Raiffeisen Bank International AG Takes $16.07 Million Position in Crocs, Inc. (NASDAQ:CROX)

Raiffeisen Bank International AG bought a new position in Crocs, Inc. (NASDAQ:CROX) during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor bought 146,755 shares of the textile maker’s stock, valued at approximately $16,074,000. Raiffeisen Bank International AG owned about 0.25% of Crocs at the end of the most recent reporting period.

Several other large investors have also added to or reduced their stakes in CROX. Empirical Asset Management LLC bought a new position in shares of Crocs in the fourth quarter valued at approximately $359,000. Merit Financial Group LLC lifted its stake in Crocs by 7.1% during the 4th quarter. Merit Financial Group LLC now owns 38,037 shares of the textile maker’s stock valued at $4,166,000 after acquiring an additional 2,517 shares in the last quarter. UMB Bank n.a. lifted its stake in Crocs by 46.6% during the 4th quarter. UMB Bank n.a. now owns 447 shares of the textile maker’s stock valued at $49,000 after acquiring an additional 142 shares in the last quarter. Crossmark Global Holdings Inc. boosted its holdings in Crocs by 14.2% during the 4th quarter. Crossmark Global Holdings Inc. now owns 45,919 shares of the textile maker’s stock worth $5,030,000 after acquiring an additional 5,727 shares during the last quarter. Finally, Clear Harbor Asset Management LLC grew its stake in shares of Crocs by 3.3% in the 4th quarter. Clear Harbor Asset Management LLC now owns 3,114 shares of the textile maker’s stock worth $341,000 after acquiring an additional 100 shares in the last quarter. Institutional investors own 93.44% of the company’s stock.

Analyst Upgrades and Downgrades

CROX has been the subject of a number of recent analyst reports. Loop Capital upped their price objective on Crocs from $110.00 to $125.00 and gave the company a “buy” rating in a research note on Tuesday, April 1st. Needham & Company LLC increased their price target on shares of Crocs from $118.00 to $129.00 and gave the company a “buy” rating in a research report on Thursday, May 8th. Piper Sandler lowered their price objective on shares of Crocs from $125.00 to $115.00 and set an “overweight” rating on the stock in a research report on Friday, April 11th. UBS Group increased their price objective on Crocs from $122.00 to $132.00 and gave the company a “neutral” rating in a report on Wednesday, February 19th. Finally, Bank of America increased their target price on shares of Crocs from $144.00 to $153.00 and gave the stock a “buy” rating in a research report on Friday, February 14th. Three analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $139.79.

Insider Activity

In related news, Director Ian Bickley sold 3,044 shares of the company’s stock in a transaction on Monday, May 12th. The stock was sold at an average price of $115.89, for a total value of $352,769.16. Following the sale, the director now directly owns 27,505 shares of the company’s stock, valued at $3,187,554.45. This represents a 9.96% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Shannon Sisler sold 4,659 shares of the business’s stock in a transaction on Friday, February 21st. The stock was sold at an average price of $109.75, for a total value of $511,325.25. Following the completion of the sale, the executive vice president now directly owns 29,299 shares in the company, valued at $3,215,565.25. This trade represents a 13.72% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 22,703 shares of company stock valued at $2,464,444. Corporate insiders own 2.72% of the company’s stock.

Crocs Stock Down 1.7%

CROX opened at $118.26 on Thursday. Crocs, Inc. has a one year low of $86.11 and a one year high of $165.32. The company has a fifty day moving average price of $100.89 and a 200-day moving average price of $103.93. The company has a debt-to-equity ratio of 0.74, a current ratio of 1.18 and a quick ratio of 0.70. The firm has a market capitalization of $6.63 billion, a P/E ratio of 7.40, a price-to-earnings-growth ratio of 1.80 and a beta of 1.46.

Crocs (NASDAQ:CROX) last posted its quarterly earnings data on Thursday, May 8th. The textile maker reported $3.00 earnings per share for the quarter, beating the consensus estimate of $2.51 by $0.49. The firm had revenue of $937.33 million for the quarter, compared to analysts’ expectations of $907.07 million. Crocs had a net margin of 23.16% and a return on equity of 46.27%. The business’s quarterly revenue was down .1% on a year-over-year basis. During the same quarter last year, the company posted $3.02 EPS. Equities research analysts expect 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.