Norges Bank Makes New $62.22 Million Investment in Crocs, Inc. (NASDAQ:CROX)

Norges Bank bought a new stake in Crocs, Inc. (NASDAQ:CROX - Free Report) in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm bought 568,072 shares of the textile maker's stock, valued at approximately $62,221,000. Norges Bank owned approximately 0.97% of Crocs at the end of the most recent quarter.

A number of other hedge funds have also made changes to their positions in the company. Vanguard Group Inc. boosted its position in Crocs by 0.9% during the fourth quarter. Vanguard Group Inc. now owns 5,477,574 shares of the textile maker's stock worth $599,959,000 after acquiring an additional 47,576 shares during the last quarter. Pacer Advisors Inc. boosted its position in shares of Crocs by 39.6% in the fourth quarter. Pacer Advisors Inc. now owns 2,037,121 shares of the textile maker's stock worth $223,126,000 after buying an additional 577,467 shares during the period. State Street Corp lifted its position in shares of Crocs by 0.7% during the third quarter. State Street Corp now owns 1,812,493 shares of the textile maker's stock worth $262,467,000 after purchasing an additional 13,467 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its holdings in Crocs by 1.1% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 715,422 shares of the textile maker's stock valued at $78,360,000 after purchasing an additional 8,014 shares during the last quarter. Finally, Rheos Capital Works Inc. raised its holdings in Crocs by 30.6% in the fourth quarter. Rheos Capital Works Inc. now owns 192,200 shares of the textile maker's stock valued at $21,052,000 after acquiring an additional 45,000 shares in the last quarter. Hedge funds and other institutional investors own 93.44% of the company's stock.

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Analyst Ratings Changes

A number of research firms have commented on CROX. Robert W. Baird decreased their price objective on shares of Crocs from $180.00 to $150.00 and set an "outperform" rating for the company in a report on Monday, February 10th. Bank of America lifted their price target on shares of Crocs from $144.00 to $153.00 and gave the company a "buy" rating in a report on Friday, February 14th. Guggenheim dropped their price objective on shares of Crocs from $155.00 to $150.00 and set a "buy" rating on the stock in a research note on Monday, February 3rd. Loop Capital lifted their target price on Crocs from $110.00 to $125.00 and gave the company a "buy" rating in a research note on Tuesday, April 1st. Finally, StockNews.com cut Crocs from a "buy" rating to a "hold" rating in a research report on Thursday, February 20th. Four investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. Based on data from MarketBeat, Crocs has a consensus rating of "Moderate Buy" and a consensus target price of $144.53.

Crocs Trading Down 3.5 %

Shares of NASDAQ:CROX traded down $3.57 during mid-day trading on Monday, hitting $97.08. The stock had a trading volume of 2,109,149 shares, compared to its average volume of 1,421,932. The company's 50 day moving average is $102.96 and its 200-day moving average is $111.78. The company has a market cap of $5.44 billion, a PE ratio of 6.08, a P/E/G ratio of 1.80 and a beta of 1.62. The company has a debt-to-equity ratio of 0.74, a quick ratio of 0.70 and a current ratio of 1.18. Crocs, Inc. has a 12-month low of $88.25 and a 12-month high of $165.32.

Crocs (NASDAQ:CROX - Get Free Report) last posted its quarterly earnings results on Thursday, February 13th. The textile maker reported $2.52 EPS for the quarter, beating the consensus estimate of $2.27 by $0.25. Crocs had a net margin of 23.16% and a return on equity of 46.27%. On average, sell-side analysts predict that Crocs, Inc. will post 13.2 EPS for the current year.

Insider Transactions at Crocs

In related news, EVP Shannon Sisler sold 4,659 shares of the stock in a transaction dated Friday, February 21st. The shares were sold at an average price of $109.75, for a total value of $511,325.25. Following the completion of the sale, the executive vice president now owns 29,299 shares in the company, valued at approximately $3,215,565.25. This trade represents a 13.72 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Adam Michaels sold 15,000 shares of the stock in a transaction on Tuesday, February 18th. The shares were sold at an average price of $106.69, for a total transaction of $1,600,350.00. Following the completion of the transaction, the executive vice president now owns 89,323 shares of the company's stock, valued at approximately $9,529,870.87. This represents a 14.38 % decrease in their position. The disclosure for this sale can be found here. 2.72% of the stock is currently owned by company insiders.

Crocs Company 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.