Ruffer LLP Acquires New Shares in Crocs, Inc. (NASDAQ:CROX)

Key Points

• Ruffer LLP acquired 26,406 shares of Crocs, Inc., valued at approximately $2.8 million, during the first quarter, contributing to the firm's significant institutional ownership of 93.44%.
• Analysts have mixed ratings on Crocs, with a consensus rating of "Moderate Buy" and an average price target of $128.46.
• Crocs reported quarterly earnings of $3.00 EPS, exceeding analyst estimates, although revenue was slightly down compared to the previous year.

Ruffer LLP acquired a new position in shares of Crocs, Inc. (NASDAQ:CROX - Free Report) in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor acquired 26,406 shares of the textile maker's stock, valued at approximately $2,804,000.

Several other hedge funds also recently modified their holdings of CROX. Pictet Asset Management Holding SA boosted its position in Crocs by 5.8% during the fourth quarter. Pictet Asset Management Holding SA now owns 8,297 shares of the textile maker's stock valued at $909,000 after purchasing an additional 455 shares during the last quarter. Geode Capital Management LLC boosted its holdings in shares of Crocs by 1.4% in the 4th quarter. Geode Capital Management LLC now owns 1,064,644 shares of the textile maker's stock valued at $116,644,000 after buying an additional 15,037 shares during the last quarter. Prudential PLC acquired a new stake in shares of Crocs in the 4th quarter valued at approximately $302,000. Wells Fargo & Company MN grew its stake in shares of Crocs by 35.6% in the fourth quarter. Wells Fargo & Company MN now owns 20,744 shares of the textile maker's stock valued at $2,272,000 after buying an additional 5,448 shares in the last quarter. Finally, Aviva PLC increased its holdings in Crocs by 23.0% during the fourth quarter. Aviva PLC now owns 5,822 shares of the textile maker's stock worth $638,000 after buying an additional 1,087 shares during the last quarter. Institutional investors own 93.44% of the company's stock.

Crocs Stock Performance

NASDAQ CROX traded up $1.64 during trading on Tuesday, reaching $102.00. The company's stock had a trading volume of 1,060,433 shares, compared to its average volume of 1,166,451. The firm has a 50 day moving average price of $102.96 and a 200 day moving average price of $102.57. Crocs, Inc. has a 12 month low of $86.11 and a 12 month high of $151.13. The firm has a market capitalization of $5.72 billion, a price-to-earnings ratio of 6.25, a price-to-earnings-growth ratio of 2.07 and a beta of 1.41. The company has a current ratio of 1.52, a quick ratio of 0.97 and a debt-to-equity ratio of 0.75.

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

Wall Street Analyst Weigh In

A number of research analysts have recently commented on the stock. Barclays decreased their price objective on shares of Crocs from $122.00 to $119.00 and set an "overweight" rating for the company in a research report on Friday, May 9th. Bank of America lowered their price target on Crocs from $140.00 to $135.00 and set a "buy" rating on the stock in a research report on Monday, June 30th. Stifel Nicolaus cut their price objective on Crocs from $138.00 to $127.00 and set a "buy" rating for the company in a research report on Thursday, April 10th. Piper Sandler decreased their target price on Crocs from $125.00 to $115.00 and set an "overweight" rating on the stock in a report on Friday, April 11th. Finally, Needham & Company LLC increased their price target on Crocs from $118.00 to $129.00 and gave the company a "buy" rating in a research note on Thursday, May 8th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and eleven have given a buy rating to the stock. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $128.46.

Insider Activity at Crocs

In related news, Director Ian Bickley sold 3,044 shares of the company's stock in a transaction dated Monday, May 12th. The shares were sold at an average price of $115.89, for a total transaction of $352,769.16. Following the completion of the sale, the director owned 27,505 shares of the company's stock, valued at $3,187,554.45. This represents a 9.96% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Insiders own 2.72% of the company's stock.

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.