California State Teachers Retirement System Has $849.14 Million Stock Position in Crocs, Inc. $CROX

Key Points

• California State Teachers Retirement System increased its Crocs stake by 11,618.1% in the second quarter, acquiring nearly 7 million additional shares. Its 7.04 million shares are valued at approximately $849.1 million, representing a 14.68% ownership stake.
• Analysts maintain a generally positive outlook, with Crocs receiving a “Moderate Buy” consensus rating and an average price target of $139.10. Recent targets range from $120 to $160.
• Crocs exceeded quarterly expectations, reporting $4.55 in adjusted earnings per share versus the $4.35 estimate and $1.18 billion in revenue. CEO Andrew Rees subsequently sold shares worth approximately $2.65 million, while institutional investors collectively own 93.44% of the company.

California State Teachers Retirement System lifted its position in Crocs, Inc. (NASDAQ:CROX - Free Report) by 11,618.1% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 7,038,620 shares of the textile maker's stock after buying an additional 6,978,554 shares during the quarter. California State Teachers Retirement System owned about 14.68% of Crocs worth $849,139,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in the company. Root Financial Partners LLC raised its position in shares of Crocs by 96.3% in the first quarter. Root Financial Partners LLC now owns 320 shares of the textile maker's stock valued at $27,000 after purchasing an additional 157 shares during the period. Parallel Advisors LLC grew its stake in Crocs by 60.2% in the 3rd quarter. Parallel Advisors LLC now owns 495 shares of the textile maker's stock valued at $41,000 after buying an additional 186 shares during the last quarter. Global Retirement Partners LLC bought a new position in Crocs in the 2nd quarter valued at about $42,000. Allworth Financial LP bought a new position in Crocs in the 2nd quarter valued at about $53,000. Finally, Persistent Asset Partners Ltd acquired a new stake in Crocs during the second quarter worth approximately $55,000. 93.44% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities analysts recently commented on the stock. Deutsche Bank Aktiengesellschaft began coverage on shares of Crocs in a research report on Monday, June 8th. They set a "buy" rating on the stock. UBS Group upped their target price on Crocs from $107.00 to $120.00 and gave the company a "neutral" rating in a report on Friday, July 31st. Stifel Nicolaus boosted their target price on shares of Crocs from $105.00 to $125.00 and gave the company a "hold" rating in a research report on Monday, June 15th. Bank of America lifted their price objective on shares of Crocs from $145.00 to $160.00 and gave the company a "buy" rating in a report on Thursday, July 23rd. Finally, Williams Trading set a $150.00 target price on shares of Crocs in a research report on Tuesday, June 9th. One analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating, seven have assigned a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of $139.10.

Insider Activity

In other news, CEO Andrew Rees sold 19,072 shares of the firm's stock in a transaction that occurred on Monday, August 10th. The stock was sold at an average price of $138.91, for a total value of $2,649,291.52. Following the completion of the transaction, the chief executive officer owned 713,293 shares in the company, valued at $99,083,530.63. This trade represents a 2.60% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Corporate insiders own 3.10% of the company's stock.

Crocs Stock Performance

NASDAQ:CROX opened at $112.48 on Monday. The business has a 50 day moving average of $127.55 and a 200 day moving average of $111.26. The company has a debt-to-equity ratio of 0.94, a current ratio of 1.49 and a quick ratio of 0.96. Crocs, Inc. has a 1-year low of $73.21 and a 1-year high of $141.28. The company has a market capitalization of $5.39 billion, a price-to-earnings ratio of 9.72, a PEG ratio of 0.94 and a beta of 1.52.

Crocs (NASDAQ:CROX - Get Free Report) last released its earnings results on Thursday, July 30th. The textile maker reported $4.55 earnings per share for the quarter, beating analysts' consensus estimates of $4.35 by $0.20. The company had revenue of $1.18 billion during the quarter, compared to analyst estimates of $1.15 billion. Crocs had a return on equity of 47.75% and a net margin of 14.64%.Crocs's revenue for the quarter was up 2.6% on a year-over-year basis. During the same quarter in the previous year, the company posted ($8.82) EPS. Crocs has set its FY 2026 guidance at 13.700-14.000 EPS and its Q3 2026 guidance at 3.200-3.300 EPS. On average, sell-side analysts predict that Crocs, Inc. will post 13.95 earnings per share for the current fiscal year.

Crocs Profile

Crocs, Inc is a global footwear company best known for its lightweight, molded clogs made from proprietary Croslite material. The company designs, manufactures, markets and distributes casual footwear, sandals, boots, slippers and accessories under the Crocs brand, including customizable Jibbitz charms.

Founded in 2002, Crocs has expanded its product range beyond its original clog design to offer footwear for women, men and children. In 2022, the company acquired HEYDUDE, a casual footwear brand known for lightweight shoes, loafers and slip-ons.

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