Motley Fool Wealth Management LLC Buys 46,124 Shares of Crocs, Inc. (NASDAQ:CROX)

Key Points

• Motley Fool Wealth Management LLC increased its stake in Crocs, Inc. by 82.6%, owning approximately 0.18% of the company valued at $10.83 million.
• In the most recent quarter, Crocs reported $4.23 earnings per share, surpassing analysts' expectations, with a 3.4% year-over-year revenue growth to $1.15 billion.
• Wall Street analysts have lowered their price targets for Crocs, with estimates ranging from $85.00 to $99.00, and a consensus rating of "Moderate Buy".

Motley Fool Wealth Management LLC increased its stake in Crocs, Inc. (NASDAQ:CROX - Free Report) by 82.6% during the first quarter, according to its most recent filing with the SEC. The fund owned 101,978 shares of the textile maker's stock after buying an additional 46,124 shares during the quarter. Motley Fool Wealth Management LLC owned 0.18% of Crocs worth $10,830,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Costello Asset Management INC purchased a new position in shares of Crocs in the 1st quarter worth about $32,000. Larson Financial Group LLC boosted its holdings in shares of Crocs by 541.8% in the 1st quarter. Larson Financial Group LLC now owns 353 shares of the textile maker's stock worth $37,000 after buying an additional 298 shares during the last quarter. IMA Advisory Services Inc. purchased a new position in shares of Crocs in the 1st quarter worth about $40,000. Salem Investment Counselors Inc. purchased a new position in shares of Crocs in the 1st quarter worth about $53,000. Finally, Ameriflex Group Inc. purchased a new position in shares of Crocs in the 4th quarter worth about $54,000. 93.44% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Crocs

In related news, Director John B. Replogle purchased 3,261 shares of the firm's stock in a transaction dated Friday, August 8th. The shares were purchased at an average cost of $76.69 per share, for a total transaction of $250,086.09. Following the completion of the transaction, the director directly owned 15,417 shares in the company, valued at approximately $1,182,329.73. This represents a 26.83% increase in their position. The acquisition was disclosed in a filing with the SEC, which is available through this hyperlink. 3.00% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

CROX has been the topic of a number of research analyst reports. Stifel Nicolaus reissued a "hold" rating and issued a $85.00 price target (down from $127.00) on shares of Crocs in a report on Friday, August 8th. UBS Group cut their price target on shares of Crocs from $110.00 to $85.00 and set a "neutral" rating on the stock in a report on Monday. Bank of America cut their price target on shares of Crocs from $135.00 to $99.00 and set a "buy" rating on the stock in a report on Friday, August 8th. Needham & Company LLC lowered their price objective on Crocs from $129.00 to $89.00 and set a "buy" rating on the stock in a research note on Thursday, August 7th. Finally, Barclays restated an "equal weight" rating and issued a $81.00 price objective (down from $119.00) on shares of Crocs in a research note on Friday, August 8th. One investment analyst has rated the stock with a sell rating, five have given a hold rating and nine have issued a buy rating to the company's stock. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $108.92.

Crocs Stock Performance

Crocs stock traded up $0.63 during midday trading on Thursday, reaching $84.03. The stock had a trading volume of 3,081,911 shares, compared to its average volume of 1,796,170. The firm's 50-day moving average price is $100.52 and its 200 day moving average price is $101.72. Crocs, Inc. has a 12 month low of $73.76 and a 12 month high of $151.13. The firm has a market capitalization of $4.59 billion, a PE ratio of 22.53, a P/E/G ratio of 1.79 and a beta of 1.41. The company has a quick ratio of 0.97, a current ratio of 1.54 and a debt-to-equity ratio of 0.97.

Crocs (NASDAQ:CROX - Get Free Report) last announced its quarterly earnings results on Thursday, August 7th. The textile maker reported $4.23 earnings per share for the quarter, beating the consensus estimate of $4.01 by $0.22. Crocs had a return on equity of 44.15% and a net margin of 5.72%. The firm had revenue of $1.15 billion for the quarter, compared to analysts' expectations of $1.15 billion. During the same period in the prior year, the business posted $4.01 earnings per share. The company's revenue was up 3.4% on a year-over-year basis. As a group, research analysts predict that Crocs, Inc. will post 13.2 earnings per share for the current fiscal year.

Crocs Profile

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.