State Street Corp Acquires 13,467 Shares of Crocs, Inc. (NASDAQ:CROX)

State Street Corp increased its holdings in shares of Crocs, Inc. (NASDAQ:CROX) by 0.7% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,812,493 shares of the textile maker’s stock after buying an additional 13,467 shares during the period. State Street Corp owned 3.11% of Crocs worth $262,467,000 at the end of the most recent quarter.

A number of other institutional investors have also recently bought and sold shares of CROX. FMR LLC grew its holdings in Crocs by 4.8% during the third quarter. FMR LLC now owns 8,907,591 shares of the textile maker’s stock valued at $1,289,908,000 after purchasing an additional 406,287 shares during the period. Pacer Advisors Inc. grew its holdings in Crocs by 33.8% during the third quarter. Pacer Advisors Inc. now owns 1,459,654 shares of the textile maker’s stock valued at $211,372,000 after purchasing an additional 368,557 shares during the period. National Bank of Canada FI grew its holdings in Crocs by 8,437.1% during the second quarter. National Bank of Canada FI now owns 182,695 shares of the textile maker’s stock valued at $26,993,000 after purchasing an additional 180,555 shares during the period. Marshall Wace LLP acquired a new position in Crocs during the second quarter valued at approximately $19,598,000. Finally, Caisse DE Depot ET Placement DU Quebec acquired a new position in Crocs during the third quarter valued at approximately $17,122,000. Institutional investors and hedge funds own 93.44% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts recently issued reports on the stock. Barclays decreased their price objective on shares of Crocs from $164.00 to $125.00 and set an “overweight” rating for the company in a report on Tuesday, October 29th. StockNews.com upgraded shares of Crocs from a “hold” rating to a “buy” rating in a report on Wednesday, December 4th. Piper Sandler reiterated an “overweight” rating and issued a $170.00 price target on shares of Crocs in a report on Friday, August 23rd. Needham & Company LLC began coverage on shares of Crocs in a report on Friday, November 22nd. They issued a “buy” rating and a $116.00 price target for the company. Finally, Loop Capital cut shares of Crocs from a “buy” rating to a “hold” rating and reduced their price target for the company from $150.00 to $110.00 in a report on Thursday, November 7th. Four research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. Based on data from MarketBeat.com, Crocs presently has a consensus rating of “Moderate Buy” and an average price target of $148.80.

Insiders Place Their Bets

In related news, CFO Susan L. Healy acquired 1,000 shares of the company’s stock in a transaction dated Wednesday, November 13th. The shares were bought at an average cost of $99.70 per share, with a total value of $99,700.00. Following the completion of the transaction, the chief financial officer now directly owns 22,652 shares of the company’s stock, valued at $2,258,404.40. This trade represents a 4.62 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director John B. Replogle acquired 2,240 shares of the company’s stock in a transaction dated Wednesday, October 30th. The stock was bought at an average cost of $112.60 per share, for a total transaction of $252,224.00. Following the completion of the transaction, the director now directly owns 9,304 shares of the company’s stock, valued at approximately $1,047,630.40. This trade represents a 31.71 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders own 2.72% of the company’s stock.

Crocs Stock Performance

NASDAQ CROX opened at $111.44 on Wednesday. The company has a current ratio of 1.43, a quick ratio of 0.90 and a debt-to-equity ratio of 0.82. The firm’s fifty day moving average price is $117.21 and its two-hundred day moving average price is $132.85. Crocs, Inc. has a 1 year low of $85.71 and a 1 year high of $165.32. The firm has a market capitalization of $6.49 billion, a P/E ratio of 8.08, a price-to-earnings-growth ratio of 1.11 and a beta of 1.98.

Crocs (NASDAQ:CROX) last posted its quarterly earnings results on Tuesday, October 29th. The textile maker reported $3.60 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.10 by $0.50. Crocs had a net margin of 20.50% and a return on equity of 49.70%. The firm had revenue of $1.06 billion for the quarter, compared to analyst estimates of $1.05 billion. During the same period in the prior year, the firm posted $3.25 earnings per share. The company’s quarterly revenue was up 1.6% compared to the same quarter last year. As a group, research analysts anticipate that Crocs, Inc. will post 12.93 EPS for the current 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.