Savoie Capital LLC Boosts Position in Crocs, Inc. (NASDAQ:CROX)

Savoie Capital LLC raised its stake in Crocs, Inc. (NASDAQ:CROX) by 142.9% during the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 8,500 shares of the textile maker’s stock after purchasing an additional 5,000 shares during the period. Savoie Capital LLC’s holdings in Crocs were worth $1,231,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. ABS Direct Equity Fund LLC raised its stake in Crocs by 66.7% during the 3rd quarter. ABS Direct Equity Fund LLC now owns 12,500 shares of the textile maker’s stock worth $1,810,000 after acquiring an additional 5,000 shares in the last quarter. M&T Bank Corp boosted its stake in Crocs by 4.3% in the third quarter. M&T Bank Corp now owns 5,601 shares of the textile maker’s stock valued at $811,000 after acquiring an additional 233 shares in the last quarter. Kovitz Investment Group Partners LLC grew its holdings in shares of Crocs by 47.5% during the third quarter. Kovitz Investment Group Partners LLC now owns 82,123 shares of the textile maker’s stock worth $11,856,000 after purchasing an additional 26,453 shares during the last quarter. State Street Corp increased 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. Finally, Stifel Financial Corp lifted its holdings in shares of Crocs by 5.0% in the 3rd quarter. Stifel Financial Corp now owns 10,994 shares of the textile maker’s stock valued at $1,592,000 after purchasing an additional 523 shares during the last quarter. Institutional investors and hedge funds own 93.44% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have recently commented on CROX shares. Piper Sandler reaffirmed an “overweight” rating and issued a $170.00 target price on shares of Crocs in a report on Friday, August 23rd. Barclays lowered their price target on Crocs from $164.00 to $125.00 and set an “overweight” rating on the stock in a report on Tuesday, October 29th. Monness Crespi & Hardt decreased their price objective on Crocs from $170.00 to $140.00 and set a “buy” rating for the company in a research report on Wednesday, October 30th. Williams Trading upgraded Crocs from a “hold” rating to a “buy” rating and boosted their target price for the stock from $135.00 to $163.00 in a research report on Thursday, August 22nd. Finally, Robert W. Baird reduced their price target on Crocs from $190.00 to $180.00 and set an “outperform” rating for the company in a report on Wednesday, October 30th. Four research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $148.80.

Crocs Price Performance

Crocs stock opened at $110.59 on Tuesday. The firm’s 50-day moving average is $117.81 and its two-hundred day moving average is $133.11. 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 stock has a market capitalization of $6.45 billion, a P/E ratio of 8.02, a P/E/G ratio of 1.11 and a beta of 1.98. Crocs, Inc. has a 12-month low of $85.71 and a 12-month high of $165.32.

Crocs (NASDAQ:CROX) last released its earnings results on Tuesday, October 29th. The textile maker reported $3.60 EPS for the quarter, topping the consensus estimate of $3.10 by $0.50. Crocs had a net margin of 20.50% and a return on equity of 49.70%. The firm had revenue of $1.06 billion during the quarter, compared to analysts’ expectations of $1.05 billion. During the same period in the previous year, the company earned $3.25 EPS. Crocs’s revenue for the quarter was up 1.6% on a year-over-year basis. Equities analysts predict that Crocs, Inc. will post 12.93 earnings per share for the current year.

Insider Buying and Selling

In related news, Director John B. Replogle purchased 2,240 shares of the company’s stock in a transaction that occurred on Wednesday, October 30th. The stock was purchased at an average price of $112.60 per share, with a total value of $252,224.00. Following the completion of the transaction, the director now owns 9,304 shares of the company’s stock, valued at approximately $1,047,630.40. This trade represents a 31.71 % increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Susan L. Healy purchased 1,000 shares of the firm’s stock in a transaction on Wednesday, November 13th. The stock was bought at an average price of $99.70 per share, for a total transaction of $99,700.00. Following the acquisition, the chief financial officer now owns 22,652 shares in the company, valued at $2,258,404.40. The trade was 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.

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.