Swiss National Bank Sells 3,800 Shares of Crocs, Inc. $CROX

Key Points

• The Swiss National Bank reduced its stake in Crocs, Inc. by 3.3%, selling 3,800 shares during the first quarter, while still holding 113,000 shares worth approximately $12 million.
• Crocs reported a quarterly earnings per share (EPS) of $4.23, exceeding analysts' expectations, with revenue of $1.15 billion, marking a 3.4% increase compared to the previous year.
• Wall Street analysts are generally optimistic, with a consensus rating of "Moderate Buy" and a price target averaging $108.92, despite some firms lowering their price objectives recently.

Swiss National Bank decreased its position in shares of Crocs, Inc. (NASDAQ:CROX - Free Report) by 3.3% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 113,000 shares of the textile maker's stock after selling 3,800 shares during the quarter. Swiss National Bank owned approximately 0.20% of Crocs worth $12,001,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of CROX. Costello Asset Management INC acquired a new stake in shares of Crocs during the 1st quarter valued at $32,000. Larson Financial Group LLC lifted its holdings in Crocs by 541.8% during the 1st quarter. Larson Financial Group LLC now owns 353 shares of the textile maker's stock worth $37,000 after buying an additional 298 shares during the period. IMA Advisory Services Inc. acquired a new position in Crocs during the 1st quarter worth about $40,000. Salem Investment Counselors Inc. acquired a new position in Crocs during the 1st quarter worth about $53,000. Finally, Ameriflex Group Inc. acquired a new position in Crocs during the 4th quarter worth about $54,000. Institutional investors and hedge funds own 93.44% of the company's stock.

Analysts Set New Price Targets

CROX has been the topic of several recent research reports. Barclays reaffirmed an "equal weight" rating and set a $81.00 target price (down from $119.00) on shares of Crocs in a report on Friday, August 8th. The Goldman Sachs Group cut their target price on Crocs from $88.00 to $87.00 and set a "sell" rating on the stock in a report on Tuesday, July 22nd. UBS Group dropped their price objective on Crocs from $110.00 to $85.00 and set a "neutral" rating on the stock in a research note on Monday, August 11th. Needham & Company LLC dropped their price objective on Crocs from $129.00 to $89.00 and set a "buy" rating on the stock in a research note on Thursday, August 7th. Finally, Monness Crespi & Hardt dropped their price objective on Crocs from $140.00 to $92.00 and set a "buy" rating on the stock in a research note on Friday, August 8th. One analyst has rated the stock with a sell rating, five have assigned a hold rating and nine have given a buy rating to the company's stock. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target of $108.92.

Crocs Stock Down 1.3%

CROX traded down $1.11 during midday trading on Monday, reaching $83.59. 1,489,463 shares of the company were exchanged, compared to its average volume of 1,797,086. The company has a debt-to-equity ratio of 0.97, a quick ratio of 0.97 and a current ratio of 1.54. The company's fifty day moving average price is $99.86 and its 200 day moving average price is $101.40. The company has a market cap of $4.57 billion, a price-to-earnings ratio of 22.42, a price-to-earnings-growth ratio of 1.95 and a beta of 1.41. Crocs, Inc. has a one year low of $73.76 and a one year high of $151.13.

Crocs (NASDAQ:CROX - Get Free Report) last issued its quarterly earnings data on Thursday, August 7th. The textile maker reported $4.23 EPS for the quarter, topping analysts' consensus estimates of $4.01 by $0.22. The firm had revenue of $1.15 billion during the quarter, compared to analyst estimates of $1.15 billion. Crocs had a return on equity of 44.15% and a net margin of 5.72%. The company's revenue for the quarter was up 3.4% on a year-over-year basis. During the same period in the previous year, the company posted $4.01 EPS. As a group, analysts expect that Crocs, Inc. will post 13.2 EPS for the current year.

Insider Buying and Selling

In related news, Director John B. Replogle acquired 3,261 shares of the firm's stock in a transaction on Friday, August 8th. The stock was purchased at an average cost of $76.69 per share, with a total value of $250,086.09. Following the acquisition, the director owned 15,417 shares of the company's stock, valued at approximately $1,182,329.73. This trade represents a 26.83% increase in their position. The purchase was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, EVP Susan L. Healy acquired 2,000 shares of the firm's stock in a transaction on Tuesday, August 12th. The shares were bought at an average cost of $76.56 per share, with a total value of $153,120.00. Following the completion of the acquisition, the executive vice president directly owned 50,078 shares in the company, valued at approximately $3,833,971.68. This represents a 4.16% increase in their position. The disclosure for this purchase can be found here. 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.