Marshall Wace LLP recently announced the acquisition of new stake in Crocs Inc (NASDAQ:CROX). The institutional investor has increased its shareholding in the Consumer Cyclical company by 33.35% to 2.8 million shares with purchase of 0.7 million shares. This fresh investment now brings its stake to 4.63% valued currently at $295.86 million. In addition, Samlyn Capital LLC raised its holdings by 83962.0 to 1.36 million shares. And Thrivent Asset Management LLC has lifted its position by 69.37% or 0.52 million shares – to 1.28 million shares.
With over 7.25 million Crocs Inc (CROX) shares trading Monday and a closing price of $104.03 on the day, the dollar volume was approximately $754.17 million. The shares have shown a negative half year performance of -11.37% and its price on 01/08/24 gained nearly 20.33%. Currently, there are 61.75M common shares owned by the public and among those 58.38M shares have been available to trade.
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An analysis of what Wall Street brokers have to say about the expected price targets for this stock gives us this picture: 14 analysts who have offered their price forecasts for CROX have a consensus price objective of $123.50. The analysts have set the share’s price value over the next 12 months at a high of $160.00 and a low of $79.00. The average price target is 16.5% above its recent price level and a downside to the estimated low will see the stock lose -31.68% over that period. But an upside of 34.98% will see the stock hit the forecast high price target while median target price for the stock is $130.00.
Insiders at the company have transacted a total of 94 times over the past 12 months, according to data filed with the U.S. Securities and Exchange Commission (SEC). 27 of these insider trades were purchases, accounting for 213,134 shares. Insider sales of the common stock occurred on 67 occasions, with total insider shares sold totaling 368,866 shares.
The top 3 mutual fund holders in Crocs Inc are iShares Core S&P Mid Cap ETF, Vanguard Total Stock Market ETF, and Vanguard Small Cap Index Fund. iShares Core S&P Mid Cap ETF owns 1.9 million shares of the company’s stock, all valued at over $200.82 million. The company bought an additional 337.0 shares recently to bring their total holdings to about 3.14% of the shares outstanding. Vanguard Total Stock Market ETF bought 2294.0 shares to see its total holdings expand to 1.83 million shares valued at over $193.41 million and representing 3.02% of the shares outstanding. Vanguard Small Cap Index Fund bought 6402.0 shares to bring its total holdings to over 1.52 million shares at a value of $160.19 million. Vanguard Small Cap Index Fund now owns shares totaling to 2.50% of the shares outstanding.
Shares of Crocs Inc (NASDAQ: CROX) opened at $98.50, up $12.04 from a prior closing price of $86.46. However, the script later moved the day high at 104.69, up 20.33%. The company’s stock has a 5-day price change of 11.37% and 22.65% over the past three months. CROX shares are trading 11.37% year to date (YTD), with the 12-month market performance down to -5.38% lower. It has a 12-month low price of $74.00 and touched a high of $151.32 over the same period. CROX has an average intraday trading volume of 1.50 million shares. The stock is trading above its simple moving averages at the SMA20, SMA50, and SMA200, as the current price level is off by 4.66%, 10.25%, and -0.92% respectively.
Institutional ownership of Crocs Inc (NASDAQ: CROX) shares accounts for 92.08% of the company’s 61.75M shares outstanding. Mutual fund holders own 43.27%, while other institutional holders and individual stakeholders account for 49.09% and 26.86% respectively.
It has a market capitalization of $6.30B and a beta (3y monthly) value of 1.96. The stock’s trailing 12-month PE ratio is 9.58, while the earnings-per-share (ttm) stands at $10.86. The company has a PEG of 0.96 and a Quick Ratio of 0.91 with the debt-to-equity ratio at 1.91. Price movements for the stock have been influenced by the stock’s volatility, which stands at 5.08% over the week and 3.32% over the month.
Analysts forecast that Crocs Inc (CROX) will achieve an EPS of $2.2 for the current quarter, $2.33 for the next quarter and $12.2 for 2024. The lowest estimate earnings-per-share for the quarter is $2 while analysts give the company a high EPS estimate of $2.35. Comparatively, EPS for the current quarter was $2.65 a year ago. Earnings per share for the fiscal year are expected to increase by 7.21%, and 4.28% over the next financial year.
If you are looking to buy this stock, then you may note that the average analyst recommendation by 14 brokerage firm advisors rate Crocs Inc (CROX) as a “Strong Buy” at a consensus score of 1.64. Specifically, 9 Wall Street analysts polled rate the stock as a buy, while 4 of the 14 advise that investors “hold,” and 0 rated it as a “Sell.”
Looking at the support for the CROX, a number of firms have released research notes about the stock. BofA Securities stated their Buy rating for the stock in a research note on December 12, 2023, with the firm’s price target at $128.
