State Street Corp Grows Position in Crocs, Inc. (NASDAQ:CROX)

State Street Corp grew its holdings in Crocs, Inc. (NASDAQ:CROX - Free Report) by 0.7% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,812,493 shares of the textile maker's stock after purchasing an additional 13,467 shares during the period. State Street Corp owned about 3.11% of Crocs worth $262,467,000 as of its most recent SEC filing.

Other hedge funds have also recently modified their holdings of the company. Financial Management Professionals Inc. boosted its position in Crocs by 11,200.0% in the third quarter. Financial Management Professionals Inc. now owns 226 shares of the textile maker's stock worth $33,000 after purchasing an additional 224 shares during the last quarter. GHP Investment Advisors Inc. lifted its stake in shares of Crocs by 375.0% in the 2nd quarter. GHP Investment Advisors Inc. now owns 228 shares of the textile maker's stock worth $33,000 after purchasing an additional 180 shares during the period. UMB Bank n.a. boosted its holdings in shares of Crocs by 64.9% in the third quarter. UMB Bank n.a. now owns 305 shares of the textile maker's stock worth $44,000 after buying an additional 120 shares during the last quarter. V Square Quantitative Management LLC increased its holdings in Crocs by 83.0% during the third quarter. V Square Quantitative Management LLC now owns 313 shares of the textile maker's stock valued at $45,000 after buying an additional 142 shares during the last quarter. Finally, Avior Wealth Management LLC boosted its stake in shares of Crocs by 109.5% during the 3rd quarter. Avior Wealth Management LLC now owns 398 shares of the textile maker's stock worth $58,000 after acquiring an additional 208 shares during the last quarter. Hedge funds and other institutional investors own 93.44% of the company's stock.

Crocs Trading Up 1.7 %

NASDAQ:CROX traded up $1.93 during mid-day trading on Wednesday, hitting $113.37. 1,443,655 shares of the stock traded hands, compared to its average volume of 1,350,604. Crocs, Inc. has a 52 week low of $85.71 and a 52 week high of $165.32. The firm's 50 day moving average is $117.21 and its two-hundred day moving average is $132.85. The stock has a market capitalization of $6.61 billion, a price-to-earnings ratio of 8.08, a PEG ratio of 1.11 and a beta of 1.98. The company has a quick ratio of 0.90, a current ratio of 1.43 and a debt-to-equity ratio of 0.82.

Crocs (NASDAQ:CROX - Get Free Report) last issued its quarterly earnings results on Tuesday, October 29th. The textile maker reported $3.60 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $3.10 by $0.50. The firm had revenue of $1.06 billion during the quarter, compared to analyst estimates of $1.05 billion. Crocs had a return on equity of 49.70% and a net margin of 20.50%. Crocs's quarterly revenue was up 1.6% compared to the same quarter last year. During the same period last year, the company earned $3.25 EPS. On average, equities research analysts predict that Crocs, Inc. will post 12.93 earnings per share for the current year.

Insider Activity at Crocs

In other news, CFO Susan L. Healy purchased 1,000 shares of the firm's stock in a transaction on Wednesday, November 13th. The stock was acquired at an average cost of $99.70 per share, with a total value of $99,700.00. Following the completion of the transaction, the chief financial officer now owns 22,652 shares in the company, valued at $2,258,404.40. This represents a 4.62 % increase in their position. The purchase was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director John B. Replogle acquired 2,240 shares of the business's stock in a transaction dated Wednesday, October 30th. The stock was purchased at an average cost of $112.60 per share, for a total transaction of $252,224.00. Following the transaction, the director now owns 9,304 shares in the company, valued at approximately $1,047,630.40. The trade was a 31.71 % 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 corporate insiders.

Analyst Upgrades and Downgrades

CROX has been the topic of several recent research reports. Robert W. Baird decreased their price objective on Crocs from $190.00 to $180.00 and set an "outperform" rating on the stock in a research note on Wednesday, October 30th. Guggenheim reaffirmed a "buy" rating and set a $155.00 price target on shares of Crocs in a report on Friday, December 6th. Loop Capital cut shares of Crocs from a "buy" rating to a "hold" rating and lowered their target price for the company from $150.00 to $110.00 in a research note on Thursday, November 7th. UBS Group cut their price target on Crocs from $146.00 to $122.00 and set a "neutral" rating for the company in a research note on Wednesday, October 30th. Finally, Piper Sandler reissued an "overweight" rating and issued a $170.00 price target on shares of Crocs in a report on Friday, August 23rd. Four analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. According to data from MarketBeat.com, Crocs presently has an average rating of "Moderate Buy" and an average price target of $148.80.

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.