Texas Permanent School Fund lessened its stake in shares of Crocs, Inc. (NASDAQ:CROX) by 10.1% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 47,093 shares of the textile maker’s stock after selling 5,296 shares during the period. Texas Permanent School Fund owned 0.07% of Crocs worth $595,000 at the end of the most recent reporting period.
Several other institutional investors also recently added to or reduced their stakes in the stock. Teachers Advisors LLC increased its stake in Crocs by 17.5% during the 2nd quarter. Teachers Advisors LLC now owns 140,509 shares of the textile maker’s stock valued at $1,083,000 after purchasing an additional 20,896 shares in the last quarter. TIAA CREF Investment Management LLC grew its stake in shares of Crocs by 39.0% in the 2nd quarter. TIAA CREF Investment Management LLC now owns 278,804 shares of the textile maker’s stock worth $2,150,000 after acquiring an additional 78,188 shares in the last quarter. Nationwide Fund Advisors grew its stake in shares of Crocs by 18.7% in the 2nd quarter. Nationwide Fund Advisors now owns 50,548 shares of the textile maker’s stock worth $390,000 after acquiring an additional 7,979 shares in the last quarter. Thrivent Financial For Lutherans grew its stake in shares of Crocs by 7.6% in the 2nd quarter. Thrivent Financial For Lutherans now owns 44,470 shares of the textile maker’s stock worth $343,000 after acquiring an additional 3,160 shares in the last quarter. Finally, UBS Asset Management Americas Inc. grew its stake in shares of Crocs by 0.3% in the 2nd quarter. UBS Asset Management Americas Inc. now owns 30,036 shares of the textile maker’s stock worth $232,000 after acquiring an additional 98 shares in the last quarter. Institutional investors own 99.78% of the company’s stock.
Several equities analysts recently weighed in on CROX shares. BidaskClub lowered shares of Crocs from a “strong-buy” rating to a “buy” rating in a research report on Thursday, January 4th. Stifel Nicolaus raised shares of Crocs from a “hold” rating to a “buy” rating in a report on Friday, December 15th. Zacks Investment Research raised shares of Crocs from a “sell” rating to a “buy” rating and set a $15.00 price objective on the stock in a report on Tuesday, January 9th. Pivotal Research set a $13.00 price target on shares of Crocs and gave the stock a “hold” rating in a report on Monday, February 26th. Finally, Piper Jaffray Companies set a $12.00 target price on shares of Crocs and gave the company a “hold” rating in a research note on Monday, January 8th. Two research analysts have rated the stock with a sell rating, five have given a hold rating and three have given a buy rating to the stock. The stock currently has an average rating of “Hold” and an average price target of $11.00.
Crocs (NASDAQ:CROX) last posted its quarterly earnings results on Wednesday, February 28th. The textile maker reported ($0.41) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.37) by ($0.04). Crocs had a return on equity of 6.19% and a net margin of 1.00%. The company had revenue of $199.11 million during the quarter, compared to analysts’ expectations of $196.70 million. During the same period in the prior year, the firm earned ($0.58) EPS. Crocs’s revenue for the quarter was up 6.2% compared to the same quarter last year. analysts forecast that Crocs, Inc. will post 0.33 EPS for the current year.
Crocs announced that its board has initiated a share buyback plan on Wednesday, February 28th that permits the company to buyback $431.00 million in shares. This buyback authorization permits the textile maker to repurchase shares of its stock through open market purchases. Stock buyback plans are often an indication that the company’s leadership believes its stock is undervalued.
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Crocs, Inc is engaged in the design, development, manufacturing, marketing, distribution and sale of casual lifestyle footwear and accessories for men, women, and children. The Company’s segments include Americas, Asia Pacific and Europe. Its products include footwear and accessories that utilize its closed-cell resin, called Croslite, as well as casual lifestyle footwear that use a range of materials.
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