Evercore Wealth Management LLC Increases Position in Crocs, Inc. (NASDAQ:CROX)

Evercore Wealth Management LLC increased its position in shares of Crocs, Inc. (NASDAQ:CROX) by 9.0% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 739,109 shares of the textile maker’s stock after purchasing an additional 60,730 shares during the period. Crocs accounts for 1.2% of Evercore Wealth Management LLC’s portfolio, making the stock its 29th largest holding. Evercore Wealth Management LLC owned 1.27% of Crocs worth $80,955,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of the company. Arrowstreet Capital Limited Partnership raised its holdings in Crocs by 1,516.1% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 1,326,564 shares of the textile maker’s stock valued at $145,299,000 after acquiring an additional 1,244,480 shares during the period. Pacer Advisors Inc. raised its stake in Crocs by 39.6% during the 4th quarter. Pacer Advisors Inc. now owns 2,037,121 shares of the textile maker’s stock valued at $223,126,000 after purchasing an additional 577,467 shares during the period. Norges Bank bought a new stake in Crocs during the 4th quarter valued at approximately $62,221,000. Altshuler Shaham Ltd lifted its holdings in Crocs by 30,778.0% in the 4th quarter. Altshuler Shaham Ltd now owns 456,995 shares of the textile maker’s stock worth $50,055,000 after purchasing an additional 455,515 shares in the last quarter. Finally, Fuller & Thaler Asset Management Inc. boosted its stake in Crocs by 49.0% in the 4th quarter. Fuller & Thaler Asset Management Inc. now owns 1,308,402 shares of the textile maker’s stock worth $143,309,000 after purchasing an additional 429,994 shares during the period. Hedge funds and other institutional investors own 93.44% of the company’s stock.

Insider Buying and Selling at Crocs

In related news, EVP Adam Michaels sold 15,000 shares of the firm’s stock in a transaction that occurred on Tuesday, February 18th. The stock was sold at an average price of $106.69, for a total transaction of $1,600,350.00. Following the completion of the sale, the executive vice president now directly owns 89,323 shares of the company’s stock, valued at approximately $9,529,870.87. This trade represents a 14.38 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Shannon Sisler sold 4,659 shares of the company’s stock in a transaction on Friday, February 21st. The shares were sold at an average price of $109.75, for a total value of $511,325.25. Following the completion of the transaction, the executive vice president now directly owns 29,299 shares in the company, valued at $3,215,565.25. This trade represents a 13.72 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 2.72% of the company’s stock.

Wall Street Analyst Weigh In

CROX has been the topic of several research analyst reports. Piper Sandler lowered their target price on shares of Crocs from $125.00 to $115.00 and set an “overweight” rating on the stock in a report on Friday, April 11th. Barclays decreased their price target on shares of Crocs from $125.00 to $122.00 and set an “overweight” rating on the stock in a research note on Friday, February 14th. Loop Capital raised their price objective on Crocs from $110.00 to $125.00 and gave the company a “buy” rating in a research report on Tuesday, April 1st. Robert W. Baird decreased their target price on Crocs from $180.00 to $150.00 and set an “outperform” rating on the stock in a research report on Monday, February 10th. Finally, UBS Group raised their price target on Crocs from $122.00 to $132.00 and gave the company a “neutral” rating in a report on Wednesday, February 19th. Three research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $140.00.

Crocs Stock Performance

NASDAQ:CROX opened at $93.59 on Wednesday. The company has a debt-to-equity ratio of 0.74, a quick ratio of 0.70 and a current ratio of 1.18. The stock’s fifty day moving average is $101.30 and its 200 day moving average is $107.37. The firm has a market capitalization of $5.25 billion, a PE ratio of 5.85, a PEG ratio of 1.80 and a beta of 1.62. Crocs, Inc. has a fifty-two week low of $86.11 and a fifty-two week high of $165.32.

Crocs (NASDAQ:CROX) last announced its earnings results on Thursday, February 13th. The textile maker reported $2.52 earnings per share for the quarter, beating the consensus estimate of $2.27 by $0.25. Crocs had a net margin of 23.16% and a return on equity of 46.27%. On average, sell-side analysts anticipate that Crocs, Inc. will post 13.2 earnings per share for the current year.

About Crocs

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.