KBC Group NV Grows Stake in Crocs, Inc. (NASDAQ:CROX)

KBC Group NV boosted its position in shares of Crocs, Inc. (NASDAQ:CROX) by 11.9% in the third quarter, Holdings Channel reports. The fund owned 1,659 shares of the textile maker’s stock after purchasing an additional 177 shares during the quarter. KBC Group NV’s holdings in Crocs were worth $240,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently bought and sold shares of the company. Oppenheimer & Co. Inc. increased its position in shares of Crocs by 16.2% during the 3rd quarter. Oppenheimer & Co. Inc. now owns 12,374 shares of the textile maker’s stock valued at $1,792,000 after purchasing an additional 1,724 shares during the last quarter. Victory Capital Management Inc. grew its position in Crocs by 40.2% during the third quarter. Victory Capital Management Inc. now owns 20,907 shares of the textile maker’s stock valued at $3,028,000 after buying an additional 5,995 shares during the period. Aigen Investment Management LP purchased a new stake in Crocs during the third quarter valued at approximately $2,024,000. North Growth Management Ltd. raised its position in Crocs by 1.2% in the third quarter. North Growth Management Ltd. now owns 87,000 shares of the textile maker’s stock worth $12,543,000 after acquiring an additional 1,000 shares during the period. Finally, Entropy Technologies LP purchased a new position in shares of Crocs during the 3rd quarter worth $887,000. Institutional investors own 93.44% of the company’s stock.

Insider Activity at Crocs

In other news, CFO Susan L. Healy bought 1,000 shares of the stock in a transaction dated Wednesday, November 13th. The stock was purchased at an average price of $99.70 per share, for a total transaction of $99,700.00. Following the acquisition, the chief financial officer now owns 22,652 shares of the company’s stock, valued at $2,258,404.40. The trade was a 4.62 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director John B. Replogle purchased 2,240 shares of the company’s stock in a transaction that occurred on Wednesday, October 30th. The shares were purchased at an average cost of $112.60 per share, with a total value of $252,224.00. Following the completion of the purchase, the director now owns 9,304 shares in the company, valued at $1,047,630.40. This trade represents a 31.71 % increase in their position. The disclosure for this purchase can be found here. 2.72% of the stock is owned by insiders.

Analyst Ratings Changes

A number of equities analysts recently commented on the company. Williams Trading raised Crocs from a “hold” rating to a “buy” rating and raised their target price for the stock from $135.00 to $163.00 in a report on Thursday, August 22nd. StockNews.com cut Crocs from a “buy” rating to a “hold” rating in a research report on Wednesday, October 30th. KeyCorp reduced their target price on shares of Crocs from $155.00 to $150.00 and set an “overweight” rating for the company in a report on Wednesday, October 30th. Guggenheim reduced their price objective on shares of Crocs from $182.00 to $155.00 and set a “buy” rating for the company in a research note on Wednesday, October 30th. Finally, Barclays lowered their target price on shares of Crocs from $164.00 to $125.00 and set an “overweight” rating on the stock in a research note on Tuesday, October 29th. Five investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $151.14.

Crocs Stock Performance

NASDAQ:CROX opened at $97.98 on Wednesday. The company has a market cap of $5.71 billion, a price-to-earnings ratio of 7.11, a PEG ratio of 0.99 and a beta of 2.01. Crocs, Inc. has a 1 year low of $85.71 and a 1 year high of $165.32. The stock’s 50 day simple moving average is $126.68 and its two-hundred day simple moving average is $136.39. The company has a debt-to-equity ratio of 0.82, a current ratio of 1.43 and a quick ratio of 0.90.

Crocs (NASDAQ:CROX) last announced its quarterly earnings results on Tuesday, October 29th. The textile maker reported $3.60 earnings per share 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 company had revenue of $1.06 billion for the quarter, compared to analysts’ expectations of $1.05 billion. During the same quarter in the previous year, the business posted $3.25 earnings per share. Crocs’s quarterly revenue was up 1.6% on a year-over-year basis. As a group, equities analysts anticipate that Crocs, Inc. will post 12.93 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.