SG Americas Securities LLC trimmed its position in Crocs, Inc. (NASDAQ:CROX) by 76.1% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 21,642 shares of the textile maker’s stock after selling 68,920 shares during the quarter. SG Americas Securities LLC’s holdings in Crocs were worth $557,000 at the end of the most recent quarter.
Several other large investors also recently made changes to their positions in CROX. Bank of New York Mellon Corp raised its stake in Crocs by 0.8% during the third quarter. Bank of New York Mellon Corp now owns 840,984 shares of the textile maker’s stock valued at $17,905,000 after buying an additional 6,454 shares in the last quarter. Teachers Advisors LLC raised its stake in Crocs by 2.4% during the third quarter. Teachers Advisors LLC now owns 142,488 shares of the textile maker’s stock valued at $3,034,000 after buying an additional 3,319 shares in the last quarter. Federated Investors Inc. PA raised its stake in Crocs by 17.5% during the third quarter. Federated Investors Inc. PA now owns 193,137 shares of the textile maker’s stock valued at $4,112,000 after buying an additional 28,810 shares in the last quarter. Meeder Asset Management Inc. raised its stake in Crocs by 1,399.6% during the fourth quarter. Meeder Asset Management Inc. now owns 4,094 shares of the textile maker’s stock valued at $107,000 after buying an additional 3,821 shares in the last quarter. Finally, Bank of Montreal Can raised its stake in Crocs by 152.0% during the fourth quarter. Bank of Montreal Can now owns 5,091 shares of the textile maker’s stock valued at $133,000 after buying an additional 3,071 shares in the last quarter. Institutional investors and hedge funds own 97.21% of the company’s stock.
Several analysts have issued reports on the company. Piper Jaffray Companies set a $22.00 price objective on Crocs and gave the company a “neutral” rating in a research note on Friday. BidaskClub upgraded Crocs from a “sell” rating to a “hold” rating in a research note on Tuesday. ValuEngine cut Crocs from a “buy” rating to a “hold” rating in a research report on Friday, May 10th. Zacks Investment Research upgraded Crocs from a “hold” rating to a “strong-buy” rating and set a $28.00 price target on the stock in a research report on Thursday, May 9th. Finally, TheStreet lowered Crocs from a “b-” rating to a “c-” rating in a report on Wednesday, March 20th. Four equities research analysts have rated the stock with a hold rating, three have assigned a buy rating and one has given a strong buy rating to the company. The stock has an average rating of “Buy” and an average target price of $29.16.
Crocs (NASDAQ:CROX) last released its quarterly earnings data on Tuesday, May 7th. The textile maker reported $0.36 earnings per share for the quarter, topping the consensus estimate of $0.25 by $0.11. The business had revenue of $295.95 million during the quarter, compared to analyst estimates of $288.72 million. Crocs had a return on equity of 35.81% and a net margin of 4.97%. The company’s revenue was up 4.5% compared to the same quarter last year. During the same period last year, the company posted $0.15 EPS. On average, equities research analysts anticipate that Crocs, Inc. will post 1.25 EPS for the current fiscal year.
Crocs announced that its board has initiated a share buyback plan on Tuesday, May 7th that allows the company to repurchase $500.00 million in shares. This repurchase authorization allows the textile maker to buy up to 25.8% of its stock through open market purchases. Stock repurchase plans are usually a sign that the company’s leadership believes its shares are undervalued.
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Crocs, Inc, together with its subsidiaries, designs, develops, manufactures, markets, and distributes casual lifestyle footwear and accessories for men, women, and children worldwide. It offers various footwear products, including clogs, sandals, flips and slides, shoes, and boots under the Crocs brand name.
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