Savoie Capital LLC Grows Stake in Crocs, Inc. (NASDAQ:CROX)

Savoie Capital LLC lifted its stake in Crocs, Inc. (NASDAQ:CROX - Free Report) by 142.9% during the 3rd quarter, according to the company in its most recent filing with the SEC. The fund owned 8,500 shares of the textile maker's stock after acquiring an additional 5,000 shares during the quarter. Savoie Capital LLC's holdings in Crocs were worth $1,231,000 at the end of the most recent reporting period.

Several other institutional investors have also recently added to or reduced their stakes in the stock. Davis Investment Partners LLC boosted its position in shares of Crocs by 0.8% during the third quarter. Davis Investment Partners LLC now owns 9,673 shares of the textile maker's stock worth $1,362,000 after buying an additional 77 shares during the period. Nisa Investment Advisors LLC boosted its holdings in Crocs by 8.9% during the 2nd quarter. Nisa Investment Advisors LLC now owns 1,041 shares of the textile maker's stock valued at $152,000 after acquiring an additional 85 shares during the period. Central Pacific Bank Trust Division grew its position in Crocs by 8.0% in the 3rd quarter. Central Pacific Bank Trust Division now owns 1,350 shares of the textile maker's stock valued at $195,000 after acquiring an additional 100 shares in the last quarter. 180 Wealth Advisors LLC increased its stake in Crocs by 1.6% during the second quarter. 180 Wealth Advisors LLC now owns 7,248 shares of the textile maker's stock worth $1,036,000 after purchasing an additional 111 shares during the period. Finally, Covestor Ltd lifted its position in shares of Crocs by 10.3% during the third quarter. Covestor Ltd now owns 1,225 shares of the textile maker's stock worth $178,000 after purchasing an additional 114 shares in the last quarter. Institutional investors and hedge funds own 93.44% of the company's stock.

Crocs Stock Performance

Shares of CROX traded up $1.17 during midday trading on Tuesday, reaching $111.76. 845,574 shares of the stock were exchanged, compared to its average volume of 1,348,633. Crocs, Inc. has a twelve month low of $85.71 and a twelve month high of $165.32. The company has a debt-to-equity ratio of 0.82, a current ratio of 1.43 and a quick ratio of 0.90. The company has a market capitalization of $6.51 billion, a price-to-earnings ratio of 8.05, a PEG ratio of 1.11 and a beta of 1.98. The business's 50-day moving average price is $117.81 and its 200 day moving average price is $133.11.

Crocs (NASDAQ:CROX - Get Free Report) last posted its quarterly earnings data on Tuesday, October 29th. The textile maker reported $3.60 earnings per share for the quarter, beating the consensus estimate of $3.10 by $0.50. The business had revenue of $1.06 billion during the quarter, compared to the consensus estimate of $1.05 billion. Crocs had a return on equity of 49.70% and a net margin of 20.50%. The company's revenue was up 1.6% compared to the same quarter last year. During the same period in the prior year, the company earned $3.25 earnings per share. On average, sell-side analysts expect that Crocs, Inc. will post 12.93 EPS for the current fiscal year.

Insider Buying and Selling at Crocs

In other news, Director John B. Replogle bought 2,240 shares of Crocs stock in a transaction dated Wednesday, October 30th. The stock was bought at an average price of $112.60 per share, for a total transaction of $252,224.00. Following the purchase, the director now owns 9,304 shares of the company's stock, valued at approximately $1,047,630.40. The trade was a 31.71 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CFO Susan L. Healy purchased 1,000 shares of the business's stock in a transaction that occurred on Wednesday, November 13th. The shares were purchased at an average cost of $99.70 per share, with a total value of $99,700.00. Following the completion of the acquisition, the chief financial officer now directly owns 22,652 shares of the company's stock, valued at $2,258,404.40. This represents a 4.62 % increase in their ownership of the stock. The disclosure for this purchase can be found here. 2.72% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on CROX shares. Loop Capital downgraded shares of Crocs from a "buy" rating to a "hold" rating and cut their target price for the stock from $150.00 to $110.00 in a research note on Thursday, November 7th. Piper Sandler reiterated an "overweight" rating and issued a $170.00 price objective on shares of Crocs in a research note on Friday, August 23rd. Barclays lowered their target price on Crocs from $164.00 to $125.00 and set an "overweight" rating for the company in a research note on Tuesday, October 29th. Williams Trading raised Crocs from a "hold" rating to a "buy" rating and increased their price target for the company from $135.00 to $163.00 in a research report on Thursday, August 22nd. Finally, KeyCorp lowered their price objective on Crocs from $155.00 to $150.00 and set an "overweight" rating for the company in a research report on Wednesday, October 30th. Four analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $148.80.

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.