State of Michigan Retirement System Decreases Stake in Crocs, Inc. (NASDAQ:CROX)

State of Michigan Retirement System cut its holdings in shares of Crocs, Inc. (NASDAQ:CROX) by 2.1% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 13,838 shares of the textile maker’s stock after selling 300 shares during the period. State of Michigan Retirement System’s holdings in Crocs were worth $1,516,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. FMR LLC increased its position in Crocs by 4.8% during the third quarter. FMR LLC now owns 8,907,591 shares of the textile maker’s stock valued at $1,289,908,000 after acquiring an additional 406,287 shares during the last quarter. Pacer Advisors Inc. grew its stake in shares of Crocs by 39.6% during the 4th quarter. Pacer Advisors Inc. now owns 2,037,121 shares of the textile maker’s stock valued at $223,126,000 after purchasing an additional 577,467 shares during the period. State Street Corp increased its position in shares of Crocs by 0.7% during the 3rd quarter. State Street Corp now owns 1,812,493 shares of the textile maker’s stock valued at $262,467,000 after purchasing an additional 13,467 shares during the last quarter. Rheos Capital Works Inc. lifted its stake in shares of Crocs by 30.6% in the 4th quarter. Rheos Capital Works Inc. now owns 192,200 shares of the textile maker’s stock worth $21,052,000 after purchasing an additional 45,000 shares during the period. Finally, Fort Washington Investment Advisors Inc. OH boosted its holdings in shares of Crocs by 34.0% in the fourth quarter. Fort Washington Investment Advisors Inc. OH now owns 184,670 shares of the textile maker’s stock worth $20,227,000 after buying an additional 46,890 shares during the last quarter. 93.44% of the stock is currently owned by institutional investors.

Crocs Trading Down 1.0 %

Shares of Crocs stock opened at $99.84 on Friday. The company has a quick ratio of 0.70, a current ratio of 1.18 and a debt-to-equity ratio of 0.74. The firm has a market cap of $5.60 billion, a price-to-earnings ratio of 6.24, a PEG ratio of 1.80 and a beta of 1.84. Crocs, Inc. has a twelve month low of $88.25 and a twelve month high of $165.32. The business has a 50-day moving average price of $103.67 and a 200-day moving average price of $116.51.

Crocs (NASDAQ:CROX) last released its quarterly earnings data on Thursday, February 13th. The textile maker reported $2.52 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.27 by $0.25. Crocs had a return on equity of 46.27% and a net margin of 23.16%. Equities research analysts anticipate that Crocs, Inc. will post 13.2 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several research analysts have weighed in on the stock. StockNews.com downgraded shares of Crocs from a “buy” rating to a “hold” rating in a research report on Thursday, February 20th. Needham & Company LLC reiterated a “buy” rating and set a $129.00 target price on shares of Crocs in a research report on Thursday, February 13th. Robert W. Baird reduced their price target on Crocs from $180.00 to $150.00 and set an “outperform” rating for the company in a research report on Monday, February 10th. KeyCorp cut their price objective on Crocs from $150.00 to $120.00 and set an “overweight” rating for the company in a research note on Thursday, January 23rd. Finally, Guggenheim decreased their target price 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. Five analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $143.53.

Insider Activity 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 transaction, the executive vice president now owns 29,299 shares of the company’s stock, valued at approximately $3,215,565.25. This trade represents a 13.72 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Adam Michaels sold 15,000 shares of the business’s stock in a transaction that occurred on Tuesday, February 18th. The stock was sold at an average price of $106.69, for a total value of $1,600,350.00. Following the sale, the executive vice president now directly owns 89,323 shares in the company, valued at $9,529,870.87. The trade was a 14.38 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 2.72% of the stock is owned by insiders.

Crocs 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.