Crocs, Inc. (NASDAQ:CROX) Shares Purchased by Ontario Teachers Pension Plan Board

Key Points

• The Ontario Teachers Pension Plan Board increased its stake in Crocs, Inc. by 48.8% during the first quarter, now owning 15,800 shares valued at approximately $1.68 million.
• Several institutional investors also boosted their stakes, with hedge funds and other entities owning 93.44% of Crocs' stock.
• Crocs reported earnings of $4.23 per share, surpassing analysts' expectations, and achieved a revenue of $1.15 billion for the quarter.

Ontario Teachers Pension Plan Board increased its stake in shares of Crocs, Inc. (NASDAQ:CROX - Free Report) by 48.8% during the first quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 15,800 shares of the textile maker's stock after buying an additional 5,181 shares during the quarter. Ontario Teachers Pension Plan Board's holdings in Crocs were worth $1,678,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in CROX. Costello Asset Management INC purchased a new stake in Crocs in the first quarter valued at $32,000. Larson Financial Group LLC grew its stake in Crocs by 541.8% during the 1st quarter. Larson Financial Group LLC now owns 353 shares of the textile maker's stock worth $37,000 after purchasing an additional 298 shares in the last quarter. IMA Advisory Services Inc. acquired a new position in Crocs during the 1st quarter worth $40,000. Salem Investment Counselors Inc. acquired a new position in Crocs during the 1st quarter worth $53,000. Finally, Ameriflex Group Inc. acquired a new position in shares of Crocs during the 4th quarter worth about $54,000. Hedge funds and other institutional investors own 93.44% of the company's stock.

Insider Activity

In other 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 transaction of $352,769.16. Following the sale, the director owned 27,505 shares in the company, valued at $3,187,554.45. This trade represents a 9.96% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 3.00% of the stock is owned by company insiders.

Crocs Trading Up 1.1%

Shares of CROX stock traded up $0.85 during mid-day trading on Friday, hitting $75.24. 6,461,768 shares of the company's stock were exchanged, compared to its average volume of 2,024,057. Crocs, Inc. has a fifty-two week low of $73.76 and a fifty-two week high of $151.13. The stock has a 50-day simple moving average of $101.82 and a two-hundred day simple moving average of $102.22. The company has a quick ratio of 0.97, a current ratio of 1.54 and a debt-to-equity ratio of 0.97. The stock has a market cap of $4.22 billion, a price-to-earnings ratio of 20.17, a PEG ratio of 1.56 and a beta of 1.41.

Crocs (NASDAQ:CROX - Get Free Report) last posted its quarterly earnings data on Thursday, August 7th. The textile maker reported $4.23 earnings per share (EPS) for the quarter, topping 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 business had revenue of $1.15 billion for the quarter, compared to analysts' expectations of $1.15 billion. During the same quarter last year, the firm earned $4.01 earnings per share. The business's revenue was up 3.4% on a year-over-year basis. Equities analysts expect that Crocs, Inc. will post 13.2 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on the company. UBS Group reaffirmed a "neutral" rating and set a $110.00 price objective (up from $105.00) on shares of Crocs in a research report on Monday, July 28th. Monness Crespi & Hardt reduced their price objective on Crocs from $140.00 to $92.00 and set a "buy" rating for the company in a research note on Friday. KeyCorp reissued an "overweight" rating and set a $95.00 target price (down from $120.00) on shares of Crocs in a research note on Friday. Needham & Company LLC cut their target price on Crocs from $129.00 to $89.00 and set a "buy" rating for the company in a research note on Thursday. Finally, Bank of America dropped their price objective on Crocs from $135.00 to $99.00 and set a "buy" rating for the company in a research note on Friday. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and nine have issued a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of $110.85.

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.