Retirement Systems of Alabama Buys 40,588 Shares of Crocs, Inc. (NASDAQ:CROX)

Retirement Systems of Alabama raised its stake in Crocs, Inc. (NASDAQ:CROX) by 35.3% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 155,657 shares of the textile maker’s stock after purchasing an additional 40,588 shares during the quarter. Retirement Systems of Alabama owned approximately 0.26% of Crocs worth $14,540,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently bought and sold shares of CROX. SG Americas Securities LLC lifted its position in shares of Crocs by 824.6% in the third quarter. SG Americas Securities LLC now owns 10,707 shares of the textile maker’s stock valued at $945,000 after buying an additional 9,549 shares during the last quarter. Commonwealth Equity Services LLC lifted its position in shares of Crocs by 6.0% in the third quarter. Commonwealth Equity Services LLC now owns 22,023 shares of the textile maker’s stock valued at $1,943,000 after buying an additional 1,241 shares during the last quarter. Cambridge Investment Research Advisors Inc. lifted its position in shares of Crocs by 512.0% in the third quarter. Cambridge Investment Research Advisors Inc. now owns 27,020 shares of the textile maker’s stock valued at $2,384,000 after buying an additional 22,605 shares during the last quarter. Pinnacle Associates Ltd. acquired a new stake in shares of Crocs in the third quarter valued at approximately $4,635,000. Finally, Raymond James Financial Services Advisors Inc. lifted its position in shares of Crocs by 37.7% in the third quarter. Raymond James Financial Services Advisors Inc. now owns 19,987 shares of the textile maker’s stock valued at $1,763,000 after buying an additional 5,470 shares during the last quarter. 93.44% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on the company. Bank of America raised their price objective on Crocs from $140.00 to $150.00 and gave the company a “buy” rating in a research report on Wednesday, March 20th. Williams Trading reissued a “hold” rating and set a $125.00 price target (down from $135.00) on shares of Crocs in a report on Tuesday, April 16th. OTR Global raised Crocs from a “mixed” rating to a “positive” rating in a report on Thursday, April 11th. Piper Sandler lifted their price target on Crocs from $135.00 to $140.00 and gave the stock an “overweight” rating in a report on Friday, February 16th. Finally, Stifel Nicolaus lifted their price target on Crocs from $132.00 to $140.00 and gave the stock a “buy” rating in a report on Friday, February 16th. Four investment analysts have rated the stock with a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $141.55.

Insider Activity

In other news, Director Ian Bickley sold 16,785 shares of Crocs stock in a transaction on Friday, February 16th. The stock was sold at an average price of $120.05, for a total value of $2,015,039.25. Following the transaction, the director now owns 31,815 shares in the company, valued at approximately $3,819,390.75. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In related news, EVP Daniel P. Hart sold 10,000 shares of the business’s stock in a transaction on Friday, February 23rd. The stock was sold at an average price of $118.48, for a total transaction of $1,184,800.00. Following the sale, the executive vice president now owns 219,293 shares in the company, valued at approximately $25,981,834.64. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Ian Bickley sold 16,785 shares of the business’s stock in a transaction on Friday, February 16th. The stock was sold at an average price of $120.05, for a total value of $2,015,039.25. Following the sale, the director now owns 31,815 shares in the company, valued at approximately $3,819,390.75. The disclosure for this sale can be found here. In the last quarter, insiders have sold 39,867 shares of company stock worth $4,786,276. Insiders own 2.69% of the company’s stock.

Crocs Price Performance

Crocs stock opened at $123.55 on Thursday. The stock’s fifty day moving average price is $128.66 and its two-hundred day moving average price is $108.35. Crocs, Inc. has a one year low of $74.00 and a one year high of $146.79. The company has a debt-to-equity ratio of 1.13, a current ratio of 1.30 and a quick ratio of 0.75. The firm has a market cap of $7.50 billion, a PE ratio of 9.64, a price-to-earnings-growth ratio of 1.61 and a beta of 2.01.

Crocs (NASDAQ:CROX) last posted its quarterly earnings data on Thursday, February 15th. The textile maker reported $2.58 EPS for the quarter, topping analysts’ consensus estimates of $2.38 by $0.20. Crocs had a return on equity of 61.97% and a net margin of 20.00%. The firm had revenue of $960.10 million for the quarter, compared to analyst estimates of $958.39 million. During the same quarter last year, the company earned $2.65 EPS. The company’s revenue was up 1.6% on a year-over-year basis. As a group, research analysts expect that Crocs, Inc. will post 12.45 EPS 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.