California Public Employees Retirement System Cuts Holdings in Crocs, Inc. (NASDAQ:CROX)

California Public Employees Retirement System lowered its stake in shares of Crocs, Inc. (NASDAQ:CROX) by 10.5% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 99,244 shares of the textile maker’s stock after selling 11,599 shares during the quarter. California Public Employees Retirement System owned 0.17% of Crocs worth $10,870,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in the stock. HighTower Advisors LLC lifted its stake in Crocs by 122.8% during the third quarter. HighTower Advisors LLC now owns 17,307 shares of the textile maker’s stock worth $2,507,000 after purchasing an additional 9,539 shares during the last quarter. Quarry LP purchased a new stake in Crocs in the third quarter worth approximately $104,000. Stifel Financial Corp grew its position in Crocs by 5.0% during the third quarter. Stifel Financial Corp now owns 10,994 shares of the textile maker’s stock valued at $1,592,000 after acquiring an additional 523 shares during the last quarter. State Street Corp raised its stake 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 acquiring an additional 13,467 shares in the last quarter. Finally, M&T Bank Corp lifted its holdings in shares of Crocs by 4.3% in the 3rd quarter. M&T Bank Corp now owns 5,601 shares of the textile maker’s stock worth $811,000 after acquiring an additional 233 shares during the last quarter. 93.44% of the stock is owned by institutional investors.

Crocs Price Performance

CROX stock opened at $100.65 on Monday. The firm has a 50-day moving average of $102.96 and a 200 day moving average of $111.78. The company has a debt-to-equity ratio of 0.74, a current ratio of 1.18 and a quick ratio of 0.70. The company has a market cap of $5.64 billion, a P/E ratio of 6.29, a PEG ratio of 1.80 and a beta of 1.62. Crocs, Inc. has a 1 year low of $88.25 and a 1 year high of $165.32.

Crocs (NASDAQ:CROX) last released its quarterly earnings results on Thursday, February 13th. The textile maker reported $2.52 earnings per share for the quarter, beating the consensus estimate of $2.27 by $0.25. Crocs had a return on equity of 46.27% and a net margin of 23.16%. On average, sell-side analysts forecast that Crocs, Inc. will post 13.2 EPS for the current year.

Analyst Ratings Changes

A number of equities analysts recently commented on the stock. Barclays decreased their target price on shares of Crocs from $125.00 to $122.00 and set an “overweight” rating on the stock in a research report on Friday, February 14th. Robert W. Baird lowered their target price on Crocs from $180.00 to $150.00 and set an “outperform” rating for the company in a research note on Monday, February 10th. StockNews.com cut Crocs from a “buy” rating to a “hold” rating in a report on Thursday, February 20th. Guggenheim lowered their price objective on Crocs from $155.00 to $150.00 and set a “buy” rating for the company in a research report on Monday, February 3rd. Finally, UBS Group raised their target price on shares of Crocs from $122.00 to $132.00 and gave the stock a “neutral” rating in a report on Wednesday, February 19th. Four research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. According to MarketBeat.com, Crocs presently has a consensus rating of “Moderate Buy” and an average price target of $144.53.

Insider Activity at Crocs

In other news, 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 of the company’s stock, valued at $9,529,870.87. The trade was a 14.38 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, EVP Shannon Sisler sold 4,659 shares of the company’s stock in a transaction that occurred on Friday, February 21st. The stock was sold at an average price of $109.75, for a total value of $511,325.25. Following the completion of the sale, the executive vice president now owns 29,299 shares in the company, valued at $3,215,565.25. The trade was a 13.72 % decrease in their position. The disclosure for this sale can be found here. 2.72% of the stock is currently owned by corporate insiders.

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.