LSV Asset Management Increases Stock Holdings in Crocs, Inc. (NASDAQ:CROX)

Key Points

• LSV Asset Management raised its position in Crocs, Inc. by 180.9% during the first quarter, owning approximately 1.57% of the company with a value of about $93 million after acquiring an additional 566,847 shares.
• Several other institutional investors, including Larson Financial Group LLC and IMA Advisory Services Inc., have also significantly increased their holdings in Crocs, resulting in 93.44% of the stock being owned by institutional investors.
• After recent analyst ratings adjustments, Crocs has a consensus rating of "Moderate Buy" with a price target of approximately $128.46, despite recent price target reductions from various firms.

LSV Asset Management lifted its position in Crocs, Inc. (NASDAQ:CROX - Free Report) by 180.9% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 880,260 shares of the textile maker's stock after buying an additional 566,847 shares during the quarter. LSV Asset Management owned approximately 1.57% of Crocs worth $93,484,000 at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. Larson Financial Group LLC increased its position in shares of Crocs by 541.8% in the first quarter. Larson Financial Group LLC now owns 353 shares of the textile maker's stock worth $37,000 after purchasing an additional 298 shares during the last quarter. IMA Advisory Services Inc. bought a new position in shares of Crocs in the first quarter worth approximately $40,000. Salem Investment Counselors Inc. bought a new position in Crocs during the first quarter valued at approximately $53,000. Ameriflex Group Inc. bought a new position in Crocs during the fourth quarter valued at approximately $54,000. Finally, Compagnie Lombard Odier SCmA bought a new position in Crocs during the first quarter valued at approximately $58,000. 93.44% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In related news, Director Ian Bickley sold 3,044 shares of the firm's stock in a transaction on Monday, May 12th. The stock was sold at an average price of $115.89, for a total value of $352,769.16. Following the completion of the sale, the director owned 27,505 shares of the company's stock, valued at $3,187,554.45. This trade represents a 9.96% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. 3.00% of the stock is owned by insiders.

Wall Street Analyst Weigh In

A number of research analysts have commented on the stock. Bank of America reduced their price target on shares of Crocs from $140.00 to $135.00 and set a "buy" rating on the stock in a research report on Monday, June 30th. Barclays reduced their price target on shares of Crocs from $122.00 to $119.00 and set an "overweight" rating on the stock in a research report on Friday, May 9th. The Goldman Sachs Group reduced their price target on shares of Crocs from $88.00 to $87.00 and set a "sell" rating on the stock in a research report on Tuesday, July 22nd. Piper Sandler reduced their price target on shares of Crocs from $125.00 to $115.00 and set an "overweight" rating on the stock in a research report on Friday, April 11th. Finally, Stifel Nicolaus reduced their price target on shares of Crocs from $138.00 to $127.00 and set a "buy" rating on the stock in a research report on Thursday, April 10th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and eleven have assigned a buy rating to the company's stock. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $128.46.

Crocs Stock Down 2.6%

Shares of Crocs stock opened at $97.13 on Friday. The company has a debt-to-equity ratio of 0.75, a quick ratio of 0.97 and a current ratio of 1.52. Crocs, Inc. has a 52-week low of $86.11 and a 52-week high of $151.13. The stock has a market capitalization of $5.45 billion, a price-to-earnings ratio of 5.95, a P/E/G ratio of 2.01 and a beta of 1.41. The company's 50 day moving average price is $103.28 and its 200-day moving average price is $102.58.

Crocs (NASDAQ:CROX - Get Free Report) last announced its quarterly earnings results on Thursday, May 8th. The textile maker reported $3.00 EPS for the quarter, topping analysts' consensus estimates of $2.51 by $0.49. Crocs had a return on equity of 43.07% and a net margin of 23.35%. The company had revenue of $937.33 million during the quarter, compared to analyst estimates of $907.07 million. During the same quarter last year, the firm posted $3.02 earnings per share. The firm's revenue was down .1% on a year-over-year basis. Equities research analysts forecast that Crocs, Inc. will post 13.2 EPS for the current 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.

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