KLP Kapitalforvaltning AS Takes Position in Skechers U.S.A., Inc. (NYSE:SKX)

KLP Kapitalforvaltning AS purchased a new stake in Skechers U.S.A., Inc. (NYSE:SKX - Free Report) in the 4th quarter, according to its most recent Form 13F filing with the SEC. The firm purchased 27,300 shares of the textile maker's stock, valued at approximately $1,836,000.

Several other institutional investors also recently made changes to their positions in the stock. Charles Schwab Investment Management Inc. boosted its position in Skechers U.S.A. by 1.3% during the third quarter. Charles Schwab Investment Management Inc. now owns 1,316,882 shares of the textile maker's stock worth $88,126,000 after purchasing an additional 17,429 shares in the last quarter. Brooklyn Investment Group purchased a new stake in Skechers U.S.A. in the 3rd quarter worth approximately $67,000. Cynosure Group LLC raised its holdings in Skechers U.S.A. by 11.0% in the 3rd quarter. Cynosure Group LLC now owns 5,744 shares of the textile maker's stock valued at $384,000 after acquiring an additional 568 shares during the last quarter. Bridgewater Associates LP lifted its stake in shares of Skechers U.S.A. by 39.9% during the 3rd quarter. Bridgewater Associates LP now owns 4,166 shares of the textile maker's stock worth $279,000 after purchasing an additional 1,188 shares during the period. Finally, Glenmede Trust Co. NA boosted its holdings in shares of Skechers U.S.A. by 3.0% during the third quarter. Glenmede Trust Co. NA now owns 144,971 shares of the textile maker's stock worth $9,701,000 after purchasing an additional 4,265 shares during the last quarter. 79.96% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Skechers U.S.A.

In other Skechers U.S.A. news, President Michael Greenberg sold 10,274 shares of the business's stock in a transaction dated Tuesday, December 31st. The shares were sold at an average price of $67.48, for a total transaction of $693,289.52. Following the sale, the president now directly owns 149,327 shares in the company, valued at approximately $10,076,585.96. The trade was a 6.44 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO John M. Vandemore sold 5,112 shares of Skechers U.S.A. stock in a transaction that occurred on Monday, March 3rd. The stock was sold at an average price of $60.76, for a total transaction of $310,605.12. Following the completion of the transaction, the chief financial officer now directly owns 83,328 shares in the company, valued at $5,063,009.28. This represents a 5.78 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 236,738 shares of company stock worth $14,700,809 over the last quarter. 24.75% of the stock is owned by corporate insiders.

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Analyst Ratings Changes

SKX has been the subject of several analyst reports. Evercore ISI upped their target price on Skechers U.S.A. from $72.00 to $85.00 and gave the company an "outperform" rating in a research note on Tuesday, January 28th. TD Cowen increased their price objective on shares of Skechers U.S.A. from $88.00 to $93.00 and gave the stock a "buy" rating in a report on Wednesday, January 8th. Raymond James cut their price target on shares of Skechers U.S.A. from $80.00 to $75.00 and set an "outperform" rating on the stock in a research note on Friday, February 7th. Stifel Nicolaus lowered their price objective on shares of Skechers U.S.A. from $83.00 to $80.00 and set a "buy" rating for the company in a research note on Friday, February 7th. Finally, Piper Sandler began coverage on Skechers U.S.A. in a research report on Tuesday, December 10th. They issued a "neutral" rating and a $65.00 target price on the stock. Three analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average target price of $80.42.

Skechers U.S.A. Stock Down 1.5 %

Shares of SKX traded down $0.85 during trading on Monday, reaching $56.16. The company's stock had a trading volume of 700,994 shares, compared to its average volume of 2,070,333. Skechers U.S.A., Inc. has a twelve month low of $53.79 and a twelve month high of $78.85. The company has a quick ratio of 1.12, a current ratio of 1.97 and a debt-to-equity ratio of 0.01. The company has a market cap of $8.39 billion, a price-to-earnings ratio of 13.52, a P/E/G ratio of 1.11 and a beta of 1.21. The company has a fifty day moving average of $64.28 and a two-hundred day moving average of $65.21.

Skechers U.S.A. (NYSE:SKX - Get Free Report) last announced its quarterly earnings data on Thursday, February 6th. The textile maker reported $0.65 earnings per share for the quarter, missing the consensus estimate of $0.73 by ($0.08). Skechers U.S.A. had a return on equity of 13.73% and a net margin of 7.13%. On average, sell-side analysts predict that Skechers U.S.A., Inc. will post 4.47 EPS for the current fiscal year.

Skechers U.S.A. Company Profile

Skechers U.SA, Inc designs, develops, markets, and distributes footwear for men, women, and children worldwide. The company operates through Wholesale and Direct-to-Consumer segments. It offers footwear under Skechers Hands Free Slip-ins, Skechers Arch Fit, and Skechers Air-Cooled Memory Foam brands.