Paragon Capital Management Inc. Makes New $1.58 Million Investment in Crocs, Inc. (NASDAQ:CROX)

Paragon Capital Management Inc. bought a new position in Crocs, Inc. (NASDAQ:CROX - Free Report) in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 14,884 shares of the textile maker's stock, valued at approximately $1,581,000. Crocs comprises about 1.3% of Paragon Capital Management Inc.'s portfolio, making the stock its 23rd largest position.

A number of other large investors also recently modified their holdings of CROX. Vanguard Group Inc. raised its position in Crocs by 0.9% in the 4th quarter. Vanguard Group Inc. now owns 5,477,574 shares of the textile maker's stock worth $599,959,000 after purchasing an additional 47,576 shares during the last quarter. Oppenheimer & Co. Inc. raised its position in shares of Crocs by 39.3% during the fourth quarter. Oppenheimer & Co. Inc. now owns 17,236 shares of the textile maker's stock worth $1,888,000 after acquiring an additional 4,862 shares during the last quarter. Amica Mutual Insurance Co. acquired a new position in shares of Crocs during the fourth quarter valued at $333,000. Jefferies Financial Group Inc. acquired a new position in shares of Crocs during the fourth quarter valued at $419,000. Finally, PFG Investments LLC bought a new position in Crocs in the first quarter valued at about $1,297,000. 93.44% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on the stock. Loop Capital upped their target price on shares of Crocs from $110.00 to $125.00 and gave the company a "buy" rating in a research report on Tuesday, April 1st. Needham & Company LLC increased their price objective on shares of Crocs from $118.00 to $129.00 and gave the company a "buy" rating in a report on Thursday, May 8th. Stifel Nicolaus lowered their target price on shares of Crocs from $138.00 to $127.00 and set a "buy" rating for the company in a report on Thursday, April 10th. Piper Sandler cut their price target on Crocs from $125.00 to $115.00 and set an "overweight" rating on the stock in a research note on Friday, April 11th. Finally, Barclays decreased their price objective on Crocs from $122.00 to $119.00 and set an "overweight" rating for the company in a research note on Friday, May 9th. Three equities research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $139.79.

Crocs Price Performance

Shares of CROX opened at $100.05 on Friday. The stock has a 50 day simple moving average of $103.29 and a 200 day simple moving average of $103.61. Crocs, Inc. has a 52-week low of $86.11 and a 52-week high of $151.13. The company has a debt-to-equity ratio of 0.75, a quick ratio of 0.97 and a current ratio of 1.52. The firm has a market capitalization of $5.61 billion, a PE ratio of 6.13, a P/E/G ratio of 2.47 and a beta of 1.41.

Crocs (NASDAQ:CROX - Get Free Report) last released its quarterly earnings results on Thursday, May 8th. The textile maker reported $3.00 earnings per share for the quarter, beating the consensus estimate of $2.51 by $0.49. Crocs had a net margin of 23.35% and a return on equity of 43.07%. The company had revenue of $937.33 million during the quarter, compared to analysts' expectations of $907.07 million. During the same quarter in the prior year, the company earned $3.02 earnings per share. The business's quarterly revenue was down .1% compared to the same quarter last year. Sell-side analysts predict that Crocs, Inc. will post 13.2 EPS for the current fiscal year.

Insider Buying and Selling

In other Crocs news, Director Ian Bickley sold 3,044 shares of Crocs stock in a transaction on Monday, May 12th. The shares were sold at an average price of $115.89, for a total value of $352,769.16. Following the sale, the director now directly owns 27,505 shares in the company, valued at approximately $3,187,554.45. The trade was a 9.96% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 3.00% of the stock is owned by corporate insiders.

Crocs Company 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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