Royal Bank of Canada Purchases 12,538 Shares of Crocs, Inc. $CROX

Key Points

• Royal Bank of Canada increased its Crocs stake by 31.7% in the first quarter, adding 12,538 shares to own 52,072 shares valued at approximately $4.3 million. Institutional investors collectively hold 93.44% of Crocs stock.
• Analysts maintain a “Moderate Buy” consensus with an average price target of $139.10; several firms recently raised their targets to as high as $160.
• Crocs exceeded quarterly expectations, reporting $4.55 in EPS versus the $4.35 consensus and $1.18 billion in revenue. Shares opened at $132.56, near the company’s 12-month high of $141.28, while CEO Andrew Rees recently sold 19,072 shares.

Royal Bank of Canada grew its holdings in Crocs, Inc. (NASDAQ:CROX - Free Report) by 31.7% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 52,072 shares of the textile maker's stock after buying an additional 12,538 shares during the period. Royal Bank of Canada owned 0.10% of Crocs worth $4,324,000 at the end of the most recent quarter.

A number of other hedge funds also recently modified their holdings of CROX. Root Financial Partners LLC boosted its stake in Crocs by 96.3% in the 1st quarter. Root Financial Partners LLC now owns 320 shares of the textile maker's stock valued at $27,000 after purchasing an additional 157 shares during the period. Torren Management LLC acquired a new stake in shares of Crocs during the 4th quarter worth $39,000. Parallel Advisors LLC increased its position in shares of Crocs by 60.2% in the third quarter. Parallel Advisors LLC now owns 495 shares of the textile maker's stock worth $41,000 after purchasing an additional 186 shares during the period. National Bank of Canada FI increased its position in shares of Crocs by 597.3% in the third quarter. National Bank of Canada FI now owns 774 shares of the textile maker's stock worth $65,000 after purchasing an additional 663 shares during the period. Finally, Eurizon Capital SGR S.p.A. acquired a new position in Crocs in the fourth quarter valued at about $68,000. Institutional investors and hedge funds own 93.44% of the company's stock.

Analyst Ratings Changes

A number of equities research analysts have issued reports on the stock. Williams Trading set a $150.00 price objective on shares of Crocs in a research note on Tuesday, June 9th. UBS Group boosted their target price on shares of Crocs from $107.00 to $120.00 and gave the company a "neutral" rating in a research report on Friday, July 31st. Bank of America upped their price target on shares of Crocs from $145.00 to $160.00 and gave the stock a "buy" rating in a report on Thursday, July 23rd. Seaport Research Partners increased their price target on shares of Crocs from $135.00 to $160.00 and gave the stock a "buy" rating in a research report on Monday, July 20th. Finally, Needham & Company LLC lifted their price objective on shares of Crocs from $132.00 to $150.00 and gave the company a "buy" rating in a research note on Friday, July 24th. One analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating, seven have assigned a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of $139.10.

Insider Buying and Selling at Crocs

In other news, CEO Andrew Rees sold 19,072 shares of the company's stock in a transaction on Monday, August 10th. The shares were sold at an average price of $138.91, for a total transaction of $2,649,291.52. Following the completion of the transaction, the chief executive officer directly owned 713,293 shares in the company, valued at approximately $99,083,530.63. This represents a 2.60% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders have sold a total of 62,688 shares of company stock worth $8,014,859 over the last quarter. Insiders own 3.10% of the company's stock.

Crocs Stock Up 1.5%

CROX stock opened at $132.56 on Friday. The stock has a market capitalization of $6.35 billion, a P/E ratio of 11.46, a price-to-earnings-growth ratio of 1.09 and a beta of 1.53. The company has a current ratio of 1.49, a quick ratio of 0.96 and a debt-to-equity ratio of 0.94. Crocs, Inc. has a 12 month low of $73.21 and a 12 month high of $141.28. The firm has a 50-day moving average price of $129.03 and a 200-day moving average price of $106.71.

Crocs (NASDAQ:CROX - Get Free Report) last announced its quarterly earnings results on Thursday, July 30th. The textile maker reported $4.55 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.35 by $0.20. The company had revenue of $1.18 billion for the quarter, compared to analyst estimates of $1.15 billion. Crocs had a net margin of 14.64% and a return on equity of 47.75%. The firm's revenue was up 2.6% on a year-over-year basis. During the same period in the previous year, the firm posted ($8.82) EPS. Crocs has set its FY 2026 guidance at 13.700-14.000 EPS and its Q3 2026 guidance at 3.200-3.300 EPS. As a group, equities research analysts anticipate that Crocs, Inc. will post 13.95 EPS for the current fiscal year.

About Crocs

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source