Rhumbline Advisers grew its stake in shares of Crocs, Inc. (NASDAQ:CROX) by 14.1% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 169,978 shares of the textile maker’s stock after purchasing an additional 21,004 shares during the period. Rhumbline Advisers’ holdings in Crocs were worth $2,149,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Arizona State Retirement System lifted its holdings in shares of Crocs by 214.8% during the fourth quarter. Arizona State Retirement System now owns 117,083 shares of the textile maker’s stock valued at $1,480,000 after purchasing an additional 79,895 shares during the last quarter. Capital Fund Management S.A. purchased a new stake in shares of Crocs during the fourth quarter valued at $277,000. Pinebridge Investments L.P. lifted its holdings in shares of Crocs by 24.6% during the fourth quarter. Pinebridge Investments L.P. now owns 160,901 shares of the textile maker’s stock valued at $2,034,000 after purchasing an additional 31,767 shares during the last quarter. Wells Fargo & Company MN lifted its holdings in shares of Crocs by 30.0% during the fourth quarter. Wells Fargo & Company MN now owns 104,803 shares of the textile maker’s stock valued at $1,325,000 after purchasing an additional 24,199 shares during the last quarter. Finally, Teacher Retirement System of Texas purchased a new stake in shares of Crocs during the fourth quarter valued at $315,000. 99.78% of the stock is owned by institutional investors and hedge funds.
CROX stock opened at $15.34 on Wednesday. Crocs, Inc. has a 52-week low of $5.93 and a 52-week high of $15.49. The firm has a market capitalization of $1,033.15, a PE ratio of -95.88, a price-to-earnings-growth ratio of 3.20 and a beta of 0.55.
Crocs (NASDAQ:CROX) last issued its earnings results on Wednesday, February 28th. The textile maker reported ($0.41) earnings per share for the quarter, missing the consensus estimate of ($0.37) by ($0.04). Crocs had a return on equity of 6.19% and a net margin of 1.00%. The firm had revenue of $199.11 million during the quarter, compared to analyst estimates of $196.70 million. During the same period in the previous year, the company earned ($0.58) earnings per share. The business’s revenue for the quarter was up 6.2% on a year-over-year basis. equities research analysts predict that Crocs, Inc. will post 0.31 EPS for the current year.
Crocs declared that its Board of Directors has authorized a stock repurchase program on Wednesday, February 28th that permits the company to repurchase $431.00 million in outstanding shares. This repurchase authorization permits the textile maker to repurchase shares of its stock through open market purchases. Shares repurchase programs are often an indication that the company’s board of directors believes its stock is undervalued.
Several equities research analysts have recently commented on the company. Zacks Investment Research raised Crocs from a “sell” rating to a “buy” rating and set a $15.00 target price for the company in a report on Tuesday, January 9th. Stifel Nicolaus raised Crocs from a “hold” rating to a “buy” rating in a report on Friday, December 15th. Pivotal Research reaffirmed a “hold” rating and set a $13.00 target price (up from $10.00) on shares of Crocs in a report on Wednesday, January 10th. BidaskClub downgraded Crocs from a “buy” rating to a “hold” rating in a report on Friday, January 26th. Finally, Buckingham Research increased their price objective on Crocs from $7.00 to $9.00 and gave the stock an “underweight” rating in a research note on Thursday, March 1st. Two investment analysts have rated the stock with a sell rating, four have given a hold rating and four have assigned a buy rating to the stock. The stock currently has an average rating of “Hold” and a consensus price target of $11.00.
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Crocs Company Profile
Crocs, Inc is engaged in the design, development, manufacturing, marketing, distribution and sale of casual lifestyle footwear and accessories for men, women, and children. The Company’s segments include Americas, Asia Pacific and Europe. Its products include footwear and accessories that utilize its closed-cell resin, called Croslite, as well as casual lifestyle footwear that use a range of materials.
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