Townsend & Associates Inc Buys 21,468 Shares of Crocs, Inc. (NASDAQ:CROX)

Townsend & Associates Inc grew its stake in shares of Crocs, Inc. (NASDAQ:CROX - Free Report) by 16.1% in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 155,118 shares of the textile maker's stock after purchasing an additional 21,468 shares during the quarter. Crocs makes up approximately 1.7% of Townsend & Associates Inc's portfolio, making the stock its 22nd biggest position. Townsend & Associates Inc owned 0.28% of Crocs worth $16,474,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Vanguard Group Inc. grew its stake in shares of Crocs by 0.9% in the fourth 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 during the last quarter. Oppenheimer & Co. Inc. lifted its holdings in Crocs by 39.3% in the 4th quarter. Oppenheimer & Co. Inc. now owns 17,236 shares of the textile maker's stock worth $1,888,000 after buying an additional 4,862 shares during the period. Amica Mutual Insurance Co. bought a new stake in shares of Crocs in the 4th quarter worth approximately $333,000. Jefferies Financial Group Inc. purchased a new position in shares of Crocs during the fourth quarter valued at approximately $419,000. Finally, PFG Investments LLC bought a new position in shares of Crocs during the first quarter valued at approximately $1,297,000. Institutional investors own 93.44% of the company's stock.

Crocs Stock Performance

Shares of CROX opened at $103.02 on Monday. The company has a quick ratio of 0.97, a current ratio of 1.52 and a debt-to-equity ratio of 0.75. The stock has a market cap of $5.78 billion, a P/E ratio of 6.31, a P/E/G ratio of 2.58 and a beta of 1.41. The business's 50 day moving average price is $103.54 and its 200-day moving average price is $103.42. 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 announced its quarterly earnings data on Thursday, May 8th. The textile maker reported $3.00 earnings per share (EPS) for the quarter, beating 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 analysts' expectations of $907.07 million. During the same quarter in the previous year, the business earned $3.02 earnings per share. The firm's quarterly revenue was down .1% compared to the same quarter last year. Equities research analysts anticipate 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 firm's stock in a transaction that occurred on 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 now owns 27,505 shares of the company's stock, valued at $3,187,554.45. This trade represents a 9.96% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 2.72% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

Several research firms recently weighed in on CROX. Loop Capital lifted their price target on shares of Crocs from $110.00 to $125.00 and gave the company a "buy" rating in a report on Tuesday, April 1st. Piper Sandler cut their target price 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. Barclays reduced their price target on shares of Crocs from $122.00 to $119.00 and set an "overweight" rating on the stock in a research report on Friday, May 9th. Stifel Nicolaus lowered their price objective on shares of Crocs from $138.00 to $127.00 and set a "buy" rating for the company in a report on Thursday, April 10th. Finally, Needham & Company LLC upped their target price on Crocs from $118.00 to $129.00 and gave the stock a "buy" rating in a report on Thursday, May 8th. Three analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $139.79.

Crocs 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.

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