Townsend & Associates Inc Increases Position in Crocs, Inc. (NASDAQ:CROX)

Townsend & Associates Inc grew its holdings in shares of Crocs, Inc. (NASDAQ:CROX) by 135.5% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 126,383 shares of the textile maker’s stock after purchasing an additional 72,724 shares during the period. Townsend & Associates Inc owned approximately 0.21% of Crocs worth $12,664,000 as of its most recent SEC filing.

A number of other hedge funds have also recently made changes to their positions in CROX. Byrne Asset Management LLC boosted its holdings in Crocs by 60.0% in the fourth quarter. Byrne Asset Management LLC now owns 320 shares of the textile maker’s stock worth $30,000 after acquiring an additional 120 shares in the last quarter. Blue Trust Inc. raised its holdings in Crocs by 185.0% in the fourth quarter. Blue Trust Inc. now owns 342 shares of the textile maker’s stock worth $32,000 after buying an additional 222 shares during the last quarter. Harvest Fund Management Co. Ltd bought a new position in shares of Crocs in the fourth quarter worth approximately $56,000. Mendota Financial Group LLC grew its holdings in shares of Crocs by 50.6% during the fourth quarter. Mendota Financial Group LLC now owns 810 shares of the textile maker’s stock valued at $76,000 after buying an additional 272 shares during the last quarter. Finally, GAMMA Investing LLC bought a new stake in shares of Crocs during the fourth quarter valued at approximately $78,000. 93.44% of the stock is owned by institutional investors.

Crocs Stock Performance

Crocs stock traded up $4.30 during trading on Thursday, reaching $139.72. The company had a trading volume of 631,459 shares, compared to its average volume of 1,413,659. The firm has a market capitalization of $8.48 billion, a price-to-earnings ratio of 10.57, a price-to-earnings-growth ratio of 1.56 and a beta of 2.03. The company has a current ratio of 1.30, a quick ratio of 0.75 and a debt-to-equity ratio of 1.13. The firm’s 50-day simple moving average is $129.81 and its 200 day simple moving average is $110.00. Crocs, Inc. has a 52 week low of $74.00 and a 52 week high of $146.79.

Crocs (NASDAQ:CROX) last posted its quarterly earnings data on Tuesday, May 7th. The textile maker reported $3.02 EPS for the quarter, topping the consensus estimate of $2.25 by $0.77. The firm had revenue of $938.60 million for the quarter, compared to the consensus estimate of $884.29 million. Crocs had a return on equity of 61.97% and a net margin of 20.00%. The business’s revenue for the quarter was up 6.2% compared to the same quarter last year. During the same quarter last year, the company earned $2.61 earnings per share. Sell-side analysts forecast that Crocs, Inc. will post 12.44 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several brokerages have commented on CROX. UBS Group increased their target price on Crocs from $124.00 to $148.00 and gave the company a “neutral” rating in a research note on Wednesday. KeyCorp lifted their price objective on Crocs from $130.00 to $149.00 and gave the stock an “overweight” rating in a report on Thursday, March 21st. Raymond James upped their target price on shares of Crocs from $120.00 to $145.00 and gave the company a “strong-buy” rating in a research note on Friday, February 16th. OTR Global upgraded shares of Crocs from a “mixed” rating to a “positive” rating in a research note on Thursday, April 11th. Finally, Bank of America raised their target price on shares of Crocs from $140.00 to $150.00 and gave the stock a “buy” rating in a report on Wednesday, March 20th. Four equities research analysts have rated the stock with a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $150.42.

Insider Buying and Selling at Crocs

In other news, Director Ian Bickley sold 16,785 shares of the stock in a transaction on Friday, February 16th. The shares were sold at an average price of $120.05, for a total value of $2,015,039.25. Following the completion of the sale, the director now directly owns 31,815 shares of the company’s stock, valued at $3,819,390.75. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. In related news, Director John B. Replogle acquired 1,972 shares of the business’s stock in a transaction on Thursday, March 14th. The stock was acquired at an average cost of $126.75 per share, with a total value of $249,951.00. Following the acquisition, the director now directly owns 3,153 shares in the company, valued at approximately $399,642.75. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Ian Bickley sold 16,785 shares of the business’s stock in a transaction on Friday, February 16th. The stock was sold at an average price of $120.05, for a total transaction of $2,015,039.25. Following the completion of the transaction, the director now directly owns 31,815 shares in the company, valued at approximately $3,819,390.75. The disclosure for this sale can be found here. Insiders have sold 39,867 shares of company stock valued at $4,786,276 over the last 90 days. 2.72% of the stock is currently owned by corporate 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.