Pillsbury Lake Capital LLC Invests $9.12 Billion in Crocs, Inc. $CROX

Key Points

• Pillsbury Lake Capital initiated a Crocs position of 75,562 shares valued at approximately $9.12 billion, representing 0.16% of Crocs and 2.5% of the fund’s portfolio. Institutional investors and hedge funds collectively own 93.44% of the company.
• Analysts remain broadly positive, with Crocs receiving a “Moderate Buy” consensus rating and an average price target of $139.10. Recent targets range from $118 to $160.
• Crocs exceeded quarterly expectations, reporting adjusted earnings of $4.55 per share versus the $4.35 consensus and revenue of $1.18 billion. Shares opened at $123.64, while CEO Andrew Rees recently sold 19,072 shares for about $2.65 million.

Pillsbury Lake Capital LLC bought a new stake in Crocs, Inc. (NASDAQ:CROX - Free Report) in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 75,562 shares of the textile maker's stock, valued at approximately $9,115,800,000. Crocs accounts for 2.5% of Pillsbury Lake Capital LLC's portfolio, making the stock its 22nd biggest position. Pillsbury Lake Capital LLC owned 0.16% of Crocs as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of CROX. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its position in shares of Crocs by 159.9% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 746 shares of the textile maker's stock worth $79,000 after purchasing an additional 459 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its position in shares of Crocs by 4.1% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 211,305 shares of the textile maker's stock valued at $22,441,000 after buying an additional 8,331 shares in the last quarter. EverSource Wealth Advisors LLC raised its position in shares of Crocs by 278.1% in the second quarter. EverSource Wealth Advisors LLC now owns 862 shares of the textile maker's stock valued at $87,000 after buying an additional 634 shares in the last quarter. First Trust Advisors LP boosted its stake in shares of Crocs by 14.3% in the second quarter. First Trust Advisors LP now owns 112,217 shares of the textile maker's stock valued at $11,365,000 after buying an additional 14,067 shares during the period. Finally, Marshall Wace LLP bought a new stake in shares of Crocs in the second quarter valued at approximately $6,290,000. 93.44% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

CROX has been the topic of a number of recent research reports. UBS Group raised their price objective on Crocs from $107.00 to $120.00 and gave the stock a "neutral" rating in a research note on Friday, July 31st. Weiss Ratings raised Crocs from a "hold (c)" rating to a "hold (c+)" rating in a report on Thursday, August 13th. Monness Crespi & Hardt raised their price target on Crocs from $130.00 to $160.00 and gave the stock a "buy" rating in a research report on Friday, July 31st. Royal Bank Of Canada initiated coverage on Crocs in a research report on Monday, June 8th. They issued an "overweight" rating on the stock. Finally, Barclays upped their price objective on shares of Crocs from $110.00 to $118.00 and gave the stock an "equal weight" rating in a research report on Friday, July 31st. One equities research analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating, seven have issued a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of $139.10.

Crocs Stock Up 0.6%

Shares of CROX opened at $123.64 on Thursday. Crocs, Inc. has a one year low of $73.21 and a one year high of $141.28. The company has a market cap of $5.93 billion, a P/E ratio of 10.69, a P/E/G ratio of 1.03 and a beta of 1.53. The company has a debt-to-equity ratio of 0.94, a current ratio of 1.49 and a quick ratio of 0.96. The firm has a 50 day simple moving average of $129.34 and a two-hundred day simple moving average of $109.33.

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, topping the consensus estimate of $4.35 by $0.20. Crocs had a return on equity of 47.75% and a net margin of 14.64%.The firm had revenue of $1.18 billion during the quarter, compared to analysts' expectations of $1.15 billion. During the same period in the prior year, the company earned ($8.82) earnings per share. The company's quarterly revenue was up 2.6% on a year-over-year basis. Crocs has set its FY 2026 guidance at 13.700-14.000 EPS and its Q3 2026 guidance at 3.200-3.300 EPS. Research analysts forecast that Crocs, Inc. will post 13.95 EPS for the current fiscal year.

Insider Buying and Selling at Crocs

In related news, CEO Andrew Rees sold 19,072 shares of the firm's stock in a transaction dated 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 sale, the chief executive officer directly owned 713,293 shares of the company's stock, valued at $99,083,530.63. This trade represents a 2.60% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. In the last ninety days, insiders sold 62,688 shares of company stock worth $8,014,859. 3.10% of the stock is owned by corporate insiders.

Crocs Profile

Crocs, Inc is a global footwear designer, developer and distributor best known for its lightweight, proprietary Croslite™ foam-clog construction. The company's product portfolio encompasses a range of styles, including clogs, sandals, slides, boots and sneakers, all featuring the slip-resistant, odor-resistant and cushion-providing qualities of the Croslite material. Crocs distributes its products through an omnichannel network that includes e-commerce platforms, company-owned retail stores, authorized dealers and wholesale partners.

Founded in 2002 by Scott Seamans, Lyndon “Duke” Hanson and George Boedecker Jr., Crocs launched its first clog on the island of Vail, Colorado.

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