Norges Bank Acquires Shares of 773,057 Crocs, Inc. (NASDAQ:CROX)

Norges Bank acquired a new stake in shares of Crocs, Inc. (NASDAQ:CROXFree Report) during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 773,057 shares of the textile maker’s stock, valued at approximately $72,211,000. Norges Bank owned 1.28% of Crocs at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in CROX. WIT Partners Advisory Pte. Ltd. purchased a new stake in Crocs during the fourth quarter valued at approximately $266,431,000. AQR Capital Management LLC raised its holdings in shares of Crocs by 141.1% in the third quarter. AQR Capital Management LLC now owns 720,554 shares of the textile maker’s stock worth $63,574,000 after buying an additional 421,712 shares during the period. Fuller & Thaler Asset Management Inc. purchased a new stake in shares of Crocs in the third quarter worth approximately $34,823,000. Landscape Capital Management L.L.C. purchased a new stake in shares of Crocs in the third quarter worth approximately $11,216,000. Finally, Kettle Hill Capital Management LLC purchased a new stake in shares of Crocs in the third quarter worth approximately $9,915,000. 93.44% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on CROX. B. Riley increased their price target on Crocs from $95.00 to $122.00 and gave the stock a “neutral” rating in a report on Wednesday, April 10th. Barclays increased their price target on Crocs from $167.00 to $169.00 and gave the stock an “overweight” rating in a report on Wednesday, May 8th. Monness Crespi & Hardt increased their price objective on Crocs from $140.00 to $170.00 and gave the stock a “buy” rating in a research note on Wednesday, May 8th. Stifel Nicolaus increased their price objective on Crocs from $140.00 to $158.00 and gave the stock a “buy” rating in a research note on Wednesday, May 8th. Finally, Wedbush increased their price objective on Crocs from $156.00 to $170.00 and gave the stock an “outperform” rating in a research note on Monday, May 13th. Four research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $151.75.

Read Our Latest Research Report on Crocs

Crocs Stock Up 4.4 %

Shares of NASDAQ CROX opened at $148.92 on Monday. The company has a current ratio of 1.76, a quick ratio of 1.14 and a debt-to-equity ratio of 1.08. The stock has a market capitalization of $9.04 billion, a PE ratio of 11.53, a price-to-earnings-growth ratio of 1.69 and a beta of 2.03. The stock’s fifty day simple moving average is $134.15 and its two-hundred day simple moving average is $115.01. Crocs, Inc. has a 12-month low of $74.00 and a 12-month high of $150.71.

Crocs (NASDAQ:CROXGet Free Report) last announced its earnings results on Tuesday, May 7th. The textile maker reported $3.02 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.25 by $0.77. The business had revenue of $938.60 million for the quarter, compared to analysts’ expectations of $884.29 million. Crocs had a return on equity of 56.33% and a net margin of 19.80%. The business’s revenue for the quarter was up 6.2% on a year-over-year basis. During the same quarter last year, the firm earned $2.61 EPS. As a group, analysts expect that Crocs, Inc. will post 12.66 EPS for the current fiscal year.

Insider Transactions at Crocs

In other news, Director Thomas J. Smach sold 10,174 shares of the firm’s stock in a transaction on Friday, May 10th. The stock was sold at an average price of $140.32, for a total value of $1,427,615.68. Following the completion of the sale, the director now owns 115,339 shares of the company’s stock, valued at approximately $16,184,368.48. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, Director Thomas J. Smach sold 10,174 shares of the firm’s stock in a transaction on Friday, May 10th. The stock was sold at an average price of $140.32, for a total value of $1,427,615.68. Following the completion of the sale, the director now owns 115,339 shares of the company’s stock, valued at approximately $16,184,368.48. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, President Michelle Poole sold 5,074 shares of the firm’s stock in a transaction on Tuesday, March 12th. The stock was sold at an average price of $124.98, for a total value of $634,148.52. Following the completion of the transaction, the president now owns 52,966 shares of the company’s stock, valued at approximately $6,619,690.68. The disclosure for this sale can be found here. Insiders own 2.72% of the company’s stock.

Crocs Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Crocs (NASDAQ:CROX)

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