Townsend & Associates Inc Grows Position in Crocs, Inc. (NASDAQ:CROX)

Townsend & Associates Inc lifted its stake in Crocs, Inc. (NASDAQ:CROX - Free Report) by 16.1% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 155,118 shares of the textile maker's stock after purchasing an additional 21,468 shares during the period. Crocs accounts for 1.7% of Townsend & Associates Inc's portfolio, making the stock its 22nd largest position. Townsend & Associates Inc owned 0.28% of Crocs worth $16,474,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also recently bought and sold shares of the company. Vanguard Group Inc. increased its stake in Crocs by 0.9% during the 4th quarter. Vanguard Group Inc. now owns 5,477,574 shares of the textile maker's stock worth $599,959,000 after purchasing an additional 47,576 shares in the last quarter. Arrowstreet Capital Limited Partnership grew its stake in shares of Crocs by 1,516.1% in the fourth quarter. Arrowstreet Capital Limited Partnership now owns 1,326,564 shares of the textile maker's stock valued at $145,299,000 after buying an additional 1,244,480 shares in the last quarter. Fuller & Thaler Asset Management Inc. lifted its stake in Crocs by 49.0% in the 4th quarter. Fuller & Thaler Asset Management Inc. now owns 1,308,402 shares of the textile maker's stock valued at $143,309,000 after purchasing an additional 429,994 shares during the last quarter. Geode Capital Management LLC increased its holdings in shares of Crocs by 1.4% during the 4th quarter. Geode Capital Management LLC now owns 1,064,644 shares of the textile maker's stock worth $116,644,000 after acquiring an additional 15,037 shares during the last quarter. Finally, Dimensional Fund Advisors LP raised its position in shares of Crocs by 9.4% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,046,600 shares of the textile maker's stock valued at $114,632,000 after purchasing an additional 89,647 shares during the period. 93.44% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

CROX has been the topic of several research reports. Loop Capital upped their price target on shares of Crocs from $110.00 to $125.00 and gave the company a "buy" rating in a research note on Tuesday, April 1st. Piper Sandler decreased their price objective on shares of Crocs from $125.00 to $115.00 and set an "overweight" rating on the stock in a research note on Friday, April 11th. The Goldman Sachs Group assumed coverage on Crocs in a research note on Wednesday. They issued a "sell" rating and a $88.00 price objective on the stock. Needham & Company LLC increased their price objective on shares of Crocs from $118.00 to $129.00 and gave the company a "buy" rating in a research note on Thursday, May 8th. Finally, Stifel Nicolaus decreased their target price on shares of Crocs from $138.00 to $127.00 and set a "buy" rating on the stock in a research note on Thursday, April 10th. One analyst has rated the stock with a sell rating, three have issued a hold rating and twelve have issued a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $135.13.

Crocs Trading Up 0.7%

CROX stock traded up $0.76 during midday trading on Thursday, hitting $107.50. The stock had a trading volume of 560,190 shares, compared to its average volume of 1,518,789. The firm has a market cap of $6.03 billion, a P/E ratio of 6.59, a price-to-earnings-growth ratio of 2.22 and a beta of 1.38. The company has a current ratio of 1.52, a quick ratio of 0.97 and a debt-to-equity ratio of 0.75. The business has a fifty day moving average price of $104.26 and a two-hundred day moving average price of $103.39. Crocs, Inc. has a 1-year low of $86.11 and a 1-year 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 for the quarter, topping analysts' consensus estimates of $2.51 by $0.49. Crocs had a return on equity of 43.07% and a net margin of 23.35%. The business had revenue of $937.33 million during the quarter, compared to the consensus estimate of $907.07 million. During the same period in the previous year, the company posted $3.02 earnings per share. The firm's revenue for the quarter was down .1% on a year-over-year basis. On average, sell-side analysts predict that Crocs, Inc. will post 13.2 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, Director Ian Bickley sold 3,044 shares of the stock in a transaction on Monday, May 12th. The stock was sold at an average price of $115.89, for a total value of $352,769.16. Following the transaction, the director directly owned 27,505 shares in the company, valued at $3,187,554.45. This trade represents a 9.96% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 3.00% of the stock is owned by insiders.

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.