King Luther Capital Management Corp Buys 1,609 Shares of Crocs, Inc. (NASDAQ:CROX)

King Luther Capital Management Corp grew its stake in Crocs, Inc. (NASDAQ:CROX) by 4.8% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 35,143 shares of the textile maker’s stock after acquiring an additional 1,609 shares during the quarter. King Luther Capital Management Corp owned about 0.06% of Crocs worth $5,129,000 at the end of the most recent quarter.

Several other large investors have also recently made changes to their positions in CROX. Vanguard Group Inc. grew its stake in Crocs by 1.4% in the first quarter. Vanguard Group Inc. now owns 5,572,643 shares of the textile maker’s stock valued at $801,346,000 after purchasing an additional 76,460 shares during the last quarter. Coatue Management LLC raised its stake in shares of Crocs by 836.7% during the 4th quarter. Coatue Management LLC now owns 1,029,765 shares of the textile maker’s stock worth $96,190,000 after acquiring an additional 919,835 shares in the last quarter. Dimensional Fund Advisors LP lifted its position in Crocs by 12.8% during the second quarter. Dimensional Fund Advisors LP now owns 790,225 shares of the textile maker’s stock valued at $115,322,000 after acquiring an additional 89,610 shares during the last quarter. Norges Bank purchased a new stake in Crocs during the fourth quarter valued at approximately $72,211,000. Finally, Goldman Sachs Group Inc. boosted its stake in Crocs by 46.7% in the fourth quarter. Goldman Sachs Group Inc. now owns 770,281 shares of the textile maker’s stock valued at $71,952,000 after acquiring an additional 245,240 shares in the last quarter. 93.44% of the stock is owned by institutional investors.

Crocs Stock Performance

Shares of NASDAQ CROX opened at $139.05 on Friday. The company has a 50 day simple moving average of $134.34 and a two-hundred day simple moving average of $137.70. The stock has a market cap of $8.44 billion, a price-to-earnings ratio of 10.76, a PEG ratio of 1.29 and a beta of 2.00. The company has a current ratio of 1.50, a quick ratio of 0.95 and a debt-to-equity ratio of 0.93. Crocs, Inc. has a 12 month low of $74.00 and a 12 month high of $165.32.

Crocs (NASDAQ:CROX) last posted its earnings results on Thursday, August 1st. The textile maker reported $4.01 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.59 by $0.42. The company had revenue of $1.11 billion during the quarter, compared to the consensus estimate of $1.10 billion. Crocs had a net margin of 20.02% and a return on equity of 53.20%. The firm’s quarterly revenue was up 3.6% on a year-over-year basis. During the same period in the previous year, the firm posted $3.59 earnings per share. As a group, analysts predict that Crocs, Inc. will post 12.85 earnings per share for the current year.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on CROX. Bank of America upped their price target on Crocs from $160.00 to $187.00 and gave the stock a “buy” rating in a research report on Thursday, June 20th. Wedbush reiterated an “outperform” rating and issued a $170.00 price target on shares of Crocs in a research note on Monday, July 29th. Raymond James lowered Crocs from a “strong-buy” rating to an “outperform” rating and set a $164.00 price target on the stock. in a research note on Friday, August 2nd. Williams Trading raised shares of Crocs from a “hold” rating to a “buy” rating and increased their price objective for the company from $135.00 to $163.00 in a research report on Thursday, August 22nd. Finally, Barclays lowered their target price on shares of Crocs from $169.00 to $164.00 and set an “overweight” rating for the company in a research note on Friday, August 2nd. Two research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $160.27.

Insider Buying and Selling

In related news, Director Douglas J. Treff sold 10,594 shares of the firm’s stock in a transaction on Thursday, August 8th. The shares were sold at an average price of $132.38, for a total transaction of $1,402,433.72. Following the sale, the director now owns 81,254 shares in the company, valued at $10,756,404.52. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. In related news, Director Douglas J. Treff sold 10,594 shares of Crocs stock in a transaction on Thursday, August 8th. The shares were sold at an average price of $132.38, for a total value of $1,402,433.72. Following the sale, the director now owns 81,254 shares of the company’s stock, valued at approximately $10,756,404.52. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director John B. Replogle purchased 1,996 shares of Crocs stock in a transaction that occurred on Friday, August 2nd. The shares were bought at an average price of $123.96 per share, with a total value of $247,424.16. Following the transaction, the director now owns 7,064 shares in the company, valued at $875,653.44. The disclosure for this purchase can be found here. 2.72% of the stock is 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.