Crocs, Inc. (NASDAQ:CROX) Position Lessened by State of New Jersey Common Pension Fund D

State of New Jersey Common Pension Fund D lowered its holdings in shares of Crocs, Inc. (NASDAQ:CROX) by 37.8% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 22,169 shares of the textile maker’s stock after selling 13,479 shares during the period. State of New Jersey Common Pension Fund D’s holdings in Crocs were worth $3,235,000 as of its most recent SEC filing.

Several other hedge funds have also recently added to or reduced their stakes in CROX. Coatue Management LLC grew its holdings in shares of Crocs by 836.7% in the 4th quarter. Coatue Management LLC now owns 1,029,765 shares of the textile maker’s stock worth $96,190,000 after acquiring an additional 919,835 shares during the last quarter. Norges Bank acquired a new position in shares of Crocs in the 4th quarter worth $72,211,000. Patient Capital Management LLC acquired a new position in shares of Crocs in the 4th quarter worth $39,420,000. Goldman Sachs Group Inc. grew its holdings in shares of Crocs by 46.7% in the 4th quarter. Goldman Sachs Group Inc. now owns 770,281 shares of the textile maker’s stock worth $71,952,000 after acquiring an additional 245,240 shares during the last quarter. Finally, National Bank of Canada FI grew its holdings in shares of Crocs by 8,437.1% in the 2nd quarter. National Bank of Canada FI now owns 182,695 shares of the textile maker’s stock worth $26,993,000 after acquiring an additional 180,555 shares during the last quarter. Institutional investors own 93.44% of the company’s stock.

Insiders Place Their Bets

In other Crocs news, Director Douglas J. Treff sold 10,594 shares of the business’s stock in a transaction dated Thursday, August 8th. The stock was sold at an average price of $132.38, for a total value of $1,402,433.72. Following the completion of the sale, the director now owns 81,254 shares of the company’s stock, valued at $10,756,404.52. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In related news, Director John B. Replogle purchased 1,996 shares of Crocs stock in a transaction on Friday, August 2nd. The stock was bought at an average price of $123.96 per share, with a total value of $247,424.16. Following the completion of the transaction, the director now directly owns 7,064 shares of the company’s stock, valued at $875,653.44. The acquisition was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Douglas J. Treff sold 10,594 shares of the stock in a transaction that occurred on Thursday, August 8th. The shares were sold at an average price of $132.38, for a total value of $1,402,433.72. Following the sale, the director now owns 81,254 shares of the company’s stock, valued at approximately $10,756,404.52. The disclosure for this sale can be found here. Insiders own 2.72% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have recently weighed in on CROX shares. StockNews.com upgraded Crocs from a “hold” rating to a “buy” rating in a report on Friday, August 23rd. UBS Group lowered their price target on Crocs from $148.00 to $146.00 and set a “neutral” rating on the stock in a report on Tuesday, July 16th. Raymond James downgraded Crocs from a “strong-buy” rating to an “outperform” rating and set a $164.00 price target on the stock. in a report on Friday, August 2nd. Wedbush reiterated an “outperform” rating and set a $170.00 price target on shares of Crocs in a report on Monday, July 29th. Finally, Williams Trading upgraded Crocs from a “hold” rating to a “buy” rating and lifted their price target for the company from $135.00 to $163.00 in a report on Thursday, August 22nd. Two investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. Based on data from MarketBeat, Crocs has an average rating of “Moderate Buy” and an average target price of $160.27.

Crocs Price Performance

CROX opened at $138.43 on Wednesday. The stock has a market cap of $8.40 billion, a price-to-earnings ratio of 10.71, a PEG ratio of 1.29 and a beta of 2.00. Crocs, Inc. has a 1 year low of $74.00 and a 1 year high of $165.32. The company has a current ratio of 1.50, a quick ratio of 0.95 and a debt-to-equity ratio of 0.93. The stock has a fifty day moving average price of $134.55 and a 200 day moving average price of $137.49.

Crocs (NASDAQ:CROX) last announced its quarterly earnings results on Thursday, August 1st. The textile maker reported $4.01 earnings per share for the quarter, topping analysts’ consensus estimates of $3.59 by $0.42. Crocs had a return on equity of 53.20% and a net margin of 20.02%. The company had revenue of $1.11 billion during the quarter, compared to analysts’ expectations of $1.10 billion. During the same quarter in the previous year, the firm earned $3.59 earnings per share. The business’s quarterly revenue was up 3.6% compared to the same quarter last year. Analysts forecast that Crocs, Inc. will post 12.85 EPS for the current fiscal year.

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.