Baird Financial Group Inc. increased its holdings in Crocs, Inc. (NASDAQ:CROX – Free Report) by 450.1% in the 2nd quarter, HoldingsChannel reports. The fund owned 166,345 shares of the textile maker’s stock after purchasing an additional 136,106 shares during the quarter. Baird Financial Group Inc.’s holdings in Crocs were worth $20,068,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Himalaya Capital Management LLC purchased a new stake in shares of Crocs in the 4th quarter valued at approximately $53,720,000. Morningstar Investment Management LLC purchased a new position in shares of Crocs during the 1st quarter worth approximately $867,000. Oldfield Partners LLP purchased a new position in shares of Crocs during the 2nd quarter worth approximately $2,449,000. Landscape Capital Management L.L.C. acquired a new stake in Crocs in the 4th quarter valued at approximately $3,800,000. Finally, X Square Capital LLC acquired a new stake in Crocs in the 2nd quarter valued at approximately $2,931,000. Institutional investors and hedge funds own 93.44% of the company’s stock.
Insiders Place Their Bets
In other Crocs news, CEO Andrew Rees sold 19,072 shares of the stock in a transaction dated Monday, August 10th. The stock was sold at an average price of $138.91, for a total value of $2,649,291.52. Following the sale, the chief executive officer owned 713,293 shares of the company’s stock, valued at $99,083,530.63. This trade represents a 2.60% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 3.10% of the stock is currently owned by company insiders.
Crocs Stock Performance
Crocs (NASDAQ:CROX – Get Free Report) last announced its quarterly earnings data on Thursday, July 30th. The textile maker reported $4.55 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.35 by $0.20. The business had revenue of $1.18 billion for the quarter, compared to analysts’ expectations of $1.15 billion. Crocs had a return on equity of 47.75% and a net margin of 14.64%.The company’s revenue for the quarter was up 2.6% compared to the same quarter last year. During the same period last year, the firm earned ($8.82) earnings per share. Crocs has set its FY 2026 guidance at 13.700-14.000 EPS and its Q3 2026 guidance at 3.200-3.300 EPS. As a group, equities analysts anticipate that Crocs, Inc. will post 13.95 earnings per share for the current fiscal year.
Wall Street Analysts Forecast Growth
A number of analysts have issued reports on the company. Weiss Ratings lowered Crocs from a “hold (c+)” rating to a “hold (c)” rating in a research report on Tuesday. Robert W. Baird set a $163.00 price objective on Crocs in a research note on Friday, July 31st. Wedbush initiated coverage on Crocs in a report on Monday, June 8th. They issued an “outperform” rating on the stock. Barclays boosted their price target on shares of Crocs from $110.00 to $118.00 and gave the stock an “equal weight” rating in a research note on Friday, July 31st. Finally, UBS Group increased their price target on shares of Crocs from $107.00 to $120.00 and gave the stock a “neutral” rating in a research report on Friday, July 31st. One equities research analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating, seven have given a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat, Crocs presently has an average rating of “Moderate Buy” and an average target price of $139.10.
Check Out Our Latest Stock Report on CROX
Crocs Company Profile
Crocs, Inc is a global footwear company best known for its lightweight, molded clogs made from proprietary Croslite material. The company designs, manufactures, markets and distributes casual footwear, sandals, boots, slippers and accessories under the Crocs brand, including customizable Jibbitz charms.
Founded in 2002, Crocs has expanded its product range beyond its original clog design to offer footwear for women, men and children. In 2022, the company acquired HEYDUDE, a casual footwear brand known for lightweight shoes, loafers and slip-ons.
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