BlackRock Inc. Sells 906,030 Shares of Crocs, Inc. (NASDAQ:CROX)
by Kim Johansen · The Markets Daily
BlackRock Inc. trimmed its holdings in shares of Crocs, Inc. (NASDAQ:CROX – Free Report) by 12.8% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 6,158,917 shares of the textile maker’s stock after selling 906,030 shares during the period. BlackRock Inc. owned 9.99% of Crocs worth $692,509,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds have also modified their holdings of CROX. Skandinaviska Enskilda Banken AB publ acquired a new position in Crocs during the first quarter valued at approximately $253,000. LPL Financial LLC grew its holdings in Crocs by 6.4% during the first quarter. LPL Financial LLC now owns 47,498 shares of the textile maker’s stock valued at $6,006,000 after purchasing an additional 2,846 shares during the period. Tower Research Capital LLC TRC grew its holdings in Crocs by 24.5% during the first quarter. Tower Research Capital LLC TRC now owns 6,800 shares of the textile maker’s stock valued at $860,000 after purchasing an additional 1,338 shares during the period. Robeco Institutional Asset Management B.V. acquired a new position in Crocs during the first quarter valued at approximately $42,000. Finally, National Bank of Canada FI grew its holdings in Crocs by 32.0% during the second quarter. National Bank of Canada FI now owns 6,218 shares of the textile maker’s stock valued at $719,000 after purchasing an additional 1,509 shares during the period. 90.09% of the stock is owned by institutional investors.
Crocs Stock Performance
Shares of CROX opened at $102.20 on Wednesday. Crocs, Inc. has a 12 month low of $74.00 and a 12 month high of $151.32. The firm has a fifty day simple moving average of $88.71 and a 200 day simple moving average of $99.80. The stock has a market capitalization of $6.19 billion, a price-to-earnings ratio of 9.42 and a beta of 1.91. The company has a current ratio of 1.51, a quick ratio of 0.91 and a debt-to-equity ratio of 1.60.
Crocs (NASDAQ:CROX – Get Free Report) last announced its earnings results on Thursday, November 2nd. The textile maker reported $3.25 EPS for the quarter, topping the consensus estimate of $3.09 by $0.16. Crocs had a net margin of 17.14% and a return on equity of 72.21%. The business had revenue of $1.05 billion during the quarter, compared to analysts’ expectations of $1.03 billion. Research analysts forecast that Crocs, Inc. will post 11.66 EPS for the current fiscal year.
Wall Street Analysts Forecast Growth
Several research firms have recently weighed in on CROX. B. Riley cut shares of Crocs from a “buy” rating to a “neutral” rating and reduced their price target for the company from $125.00 to $101.00 in a report on Thursday, September 7th. StockNews.com began coverage on shares of Crocs in a report on Thursday, October 5th. They issued a “hold” rating for the company. Wedbush upped their price target on shares of Crocs from $96.00 to $120.00 and gave the company an “outperform” rating in a report on Friday, December 1st. Finally, Raymond James upgraded shares of Crocs from an “outperform” rating to a “strong-buy” rating and upped their price target for the company from $98.00 to $115.00 in a report on Tuesday, November 28th. Three research analysts have rated the stock with a hold rating, five have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $136.88.
Get Our Latest Analysis on Crocs
Crocs Company Profile
Crocs, Inc, together with its subsidiaries, designs, develops, manufactures, markets, and distributes casual lifestyle footwear and accessories for men, women, and children worldwide. It offers various footwear products, including clogs, sandals, slides, flips, wedges, platforms, socks, boots, shoe charms, and slippers under the Crocs brand name.
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