Distillate Capital Partners LLC Makes New $13.48 Million Investment in Crocs, Inc. (NASDAQ:CROX)

Distillate Capital Partners LLC acquired a new stake in Crocs, Inc. (NASDAQ:CROX) in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor acquired 92,384 shares of the textile maker’s stock, valued at approximately $13,483,000. Distillate Capital Partners LLC owned 0.15% of Crocs at the end of the most recent quarter.

Other institutional investors and hedge funds have also bought and sold shares of the company. Coatue Management LLC boosted its holdings in Crocs by 836.7% in the 4th quarter. Coatue Management LLC now owns 1,029,765 shares of the textile maker’s stock valued at $96,190,000 after purchasing an additional 919,835 shares during the period. Norges Bank bought a new stake in shares of Crocs in the fourth quarter valued at about $72,211,000. Patient Capital Management LLC bought a new position in Crocs during the fourth quarter valued at about $39,420,000. Goldman Sachs Group Inc. raised its holdings in Crocs by 46.7% in the 4th 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. Finally, National Bank of Canada FI lifted its position in shares of Crocs by 8,437.1% in the 2nd quarter. National Bank of Canada FI now owns 182,695 shares of the textile maker’s stock worth $26,993,000 after acquiring an additional 180,555 shares during the period. Institutional investors own 93.44% of the company’s stock.

Insider Activity at Crocs

In other Crocs news, Director Douglas J. Treff sold 10,594 shares of the business’s stock in a transaction dated Thursday, August 8th. The stock was sold at an average price of $132.38, for a total value of $1,402,433.72. Following the completion of the transaction, the director now directly owns 81,254 shares of the company’s stock, valued at $10,756,404.52. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other news, Director Douglas J. Treff sold 10,594 shares of Crocs stock in a transaction dated Thursday, August 8th. The stock was sold at an average price of $132.38, for a total transaction of $1,402,433.72. Following the transaction, the director now owns 81,254 shares in the company, valued at approximately $10,756,404.52. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director John B. Replogle purchased 1,996 shares of the firm’s stock in a transaction dated Friday, August 2nd. The shares were acquired at an average cost of $123.96 per share, with a total value of $247,424.16. Following the completion of the purchase, the director now directly 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 Trading Up 3.4 %

CROX opened at $143.75 on Tuesday. The firm has a 50 day simple moving average of $134.50 and a 200 day simple moving average of $138.07. Crocs, Inc. has a fifty-two week low of $74.00 and a fifty-two week high of $165.32. The company has a market cap of $8.73 billion, a price-to-earnings ratio of 11.13, a price-to-earnings-growth ratio of 1.29 and a beta of 2.00. The company has a debt-to-equity ratio of 0.93, a current ratio of 1.50 and a quick ratio of 0.95.

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

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on the stock. Piper Sandler restated an “overweight” rating and issued a $170.00 price objective on shares of Crocs in a research note on Friday, August 23rd. Barclays cut their price objective on Crocs from $169.00 to $164.00 and set an “overweight” rating for the company in a report on Friday, August 2nd. Bank of America upped their target price on shares of Crocs from $160.00 to $187.00 and gave the stock a “buy” rating in a report on Thursday, June 20th. Raymond James downgraded shares of Crocs from a “strong-buy” rating to an “outperform” rating and set a $164.00 price target for the company. in a report on Friday, August 2nd. Finally, Williams Trading upgraded shares of Crocs from a “hold” rating to a “buy” rating and boosted their price target for the company from $135.00 to $163.00 in a research report on Thursday, August 22nd. Two research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. Based on data from MarketBeat, Crocs presently has a consensus rating of “Moderate Buy” and an average price target of $160.27.

Crocs Company 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.