NJ State Employees Deferred Compensation Plan Continues to Hold Stake in Crocs, Inc. (CROX)
NJ State Employees Deferred Compensation Plan continued to hold its position in Crocs, Inc. (NASDAQ:CROX) during the second quarter, Holdings Channel reports. The firm owned 30,000 shares of the textile maker’s stock at the end of the second quarter. NJ State Employees Deferred Compensation Plan’s holdings in Crocs were worth $231,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in CROX. Renaissance Technologies LLC raised its position in Crocs by 53.1% in the first quarter. Renaissance Technologies LLC now owns 2,127,636 shares of the textile maker’s stock worth $15,042,000 after buying an additional 737,636 shares in the last quarter. Morgan Stanley raised its position in Crocs by 37.6% in the first quarter. Morgan Stanley now owns 1,327,853 shares of the textile maker’s stock worth $9,388,000 after buying an additional 362,712 shares in the last quarter. Norges Bank acquired a new position in shares of Crocs during the fourth quarter worth about $2,463,000. Vanguard Group Inc. raised its position in shares of Crocs by 4.1% in the first quarter. Vanguard Group Inc. now owns 6,437,469 shares of the textile maker’s stock worth $45,513,000 after buying an additional 253,305 shares during the period. Finally, Dimensional Fund Advisors LP raised its position in shares of Crocs by 9.3% in the first quarter. Dimensional Fund Advisors LP now owns 2,594,913 shares of the textile maker’s stock worth $18,346,000 after buying an additional 220,190 shares during the period. Institutional investors and hedge funds own 90.18% of the company’s stock.
Crocs, Inc. (NASDAQ:CROX) opened at 8.90 on Friday. The firm’s market cap is $659.35 million. The firm’s 50-day moving average price is $7.77 and its 200-day moving average price is $7.00. Crocs, Inc. has a 12 month low of $5.93 and a 12 month high of $9.16.
Crocs (NASDAQ:CROX) last released its quarterly earnings results on Wednesday, August 9th. The textile maker reported $0.27 EPS for the quarter, topping the Zacks’ consensus estimate of $0.15 by $0.12. The business had revenue of $313.20 million for the quarter, compared to analyst estimates of $311.33 million. Crocs had a negative return on equity of 3.36% and a negative net margin of 0.91%. Crocs’s revenue for the quarter was down 3.3% on a year-over-year basis. During the same period in the prior year, the company earned $0.16 EPS. Equities research analysts predict that Crocs, Inc. will post ($0.04) earnings per share for the current year.
CROX has been the subject of a number of analyst reports. Zacks Investment Research lowered Crocs from a “hold” rating to a “strong sell” rating in a research report on Tuesday, May 9th. Susquehanna Bancshares Inc reiterated a “neutral” rating and set a $7.00 price target (up previously from $6.00) on shares of Crocs in a research report on Friday, May 12th. TheStreet upgraded Crocs from a “d” rating to a “c-” rating in a research report on Wednesday, June 21st. Stifel Nicolaus reiterated a “hold” rating and set a $8.00 price target (up previously from $7.00) on shares of Crocs in a research report on Saturday, July 22nd. Finally, Piper Jaffray Companies reiterated a “hold” rating and set a $7.00 price target on shares of Crocs in a research report on Friday, July 14th. One research analyst has rated the stock with a sell rating, six have given a hold rating and one has issued a buy rating to the company’s stock. Crocs has a consensus rating of “Hold” and an average target price of $8.25.
Crocs Company Profile
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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