Raiffeisen Bank International AG Acquires 63,140 Shares of Crocs, Inc. (NASDAQ:CROX)

Key Points

• Raiffeisen Bank International AG increased its stake in Crocs, Inc. by 43.0%, acquiring an additional 63,140 shares to own a total of 209,895 shares, valued at $22.29 million.
• In the latest quarterly earnings, Crocs reported an EPS of $3.00, surpassing the consensus estimate of $2.51, and the company had a revenue of $937.33 million.
• Analyst reports suggest a consensus target price of $128.46 for Crocs, with ratings ranging from sell to buy, indicating a mixed outlook on the stock.

Raiffeisen Bank International AG raised its stake in Crocs, Inc. (NASDAQ:CROX - Free Report) by 43.0% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 209,895 shares of the textile maker's stock after buying an additional 63,140 shares during the period. Raiffeisen Bank International AG owned about 0.37% of Crocs worth $22,291,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. LSV Asset Management grew its stake in Crocs by 180.9% during the first quarter. LSV Asset Management now owns 880,260 shares of the textile maker's stock worth $93,484,000 after purchasing an additional 566,847 shares during the period. Altshuler Shaham Ltd grew its stake in Crocs by 30,778.0% during the fourth quarter. Altshuler Shaham Ltd now owns 456,995 shares of the textile maker's stock worth $50,055,000 after purchasing an additional 455,515 shares during the period. Fuller & Thaler Asset Management Inc. grew its stake in Crocs by 49.0% during the fourth quarter. Fuller & Thaler Asset Management Inc. now owns 1,308,402 shares of the textile maker's stock worth $143,309,000 after purchasing an additional 429,994 shares during the period. T. Rowe Price Investment Management Inc. grew its stake in Crocs by 167.5% during the fourth quarter. T. Rowe Price Investment Management Inc. now owns 490,544 shares of the textile maker's stock worth $53,730,000 after purchasing an additional 307,185 shares during the period. Finally, Caisse DE Depot ET Placement DU Quebec boosted its holdings in Crocs by 215.0% in the fourth quarter. Caisse DE Depot ET Placement DU Quebec now owns 372,450 shares of the textile maker's stock worth $40,794,000 after acquiring an additional 254,212 shares in the last quarter. Institutional investors own 93.44% of the company's stock.

Insider Activity

In related news, Director Ian Bickley sold 3,044 shares of the business'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 directly owned 27,505 shares in the company, valued at approximately $3,187,554.45. The trade was a 9.96% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders own 2.72% of the company's stock.

Crocs Stock Performance

Shares of CROX traded up $0.51 during mid-day trading on Tuesday, hitting $100.87. The stock had a trading volume of 186,591 shares, compared to its average volume of 1,613,513. The firm has a market cap of $5.65 billion, a P/E ratio of 6.18, a PEG ratio of 2.01 and a beta of 1.41. The business has a fifty day moving average price of $103.12 and a 200-day moving average price of $102.58. The company has a debt-to-equity ratio of 0.75, a current ratio of 1.52 and a quick ratio of 0.97. Crocs, Inc. has a 52 week low of $86.11 and a 52 week high of $151.13.

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

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on the company. Barclays reduced 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. The Goldman Sachs Group reduced their price objective on Crocs from $88.00 to $87.00 and set a "sell" rating for the company in a research note on Tuesday, July 22nd. Bank of America reduced their price objective on Crocs from $140.00 to $135.00 and set a "buy" rating for the company in a research note on Monday, June 30th. Stifel Nicolaus reduced their price objective on Crocs from $138.00 to $127.00 and set a "buy" rating for the company in a research note on Thursday, April 10th. Finally, Needham & Company LLC lifted their target price on Crocs from $118.00 to $129.00 and gave the company a "buy" rating in a research report on Thursday, May 8th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and eleven have given a buy rating to the stock. According to MarketBeat, Crocs has a consensus rating of "Moderate Buy" and a consensus target price of $128.46.

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.