Coronation Fund Managers Ltd. Sells 243,280 Shares of Skechers U.S.A., Inc. (NYSE:SKX)

Coronation Fund Managers Ltd. lowered its stake in Skechers U.S.A., Inc. (NYSE:SKX - Free Report) by 48.8% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 255,557 shares of the textile maker's stock after selling 243,280 shares during the period. Skechers U.S.A. makes up 1.0% of Coronation Fund Managers Ltd.'s holdings, making the stock its 27th biggest holding. Coronation Fund Managers Ltd. owned 0.17% of Skechers U.S.A. worth $17,184,000 as of its most recent filing with the SEC.

Other large investors have also recently bought and sold shares of the company. Pacer Advisors Inc. increased its stake in shares of Skechers U.S.A. by 5,780.6% in the third quarter. Pacer Advisors Inc. now owns 2,639,390 shares of the textile maker's stock valued at $176,628,000 after buying an additional 2,594,507 shares during the period. Geode Capital Management LLC lifted its holdings in shares of Skechers U.S.A. by 0.5% during the third quarter. Geode Capital Management LLC now owns 2,216,905 shares of the textile maker's stock worth $148,395,000 after purchasing an additional 11,026 shares during the period. Charles Schwab Investment Management Inc. grew its stake in shares of Skechers U.S.A. by 1.3% in 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 during the last quarter. Wellington Management Group LLP increased its holdings in Skechers U.S.A. by 39.0% in the third quarter. Wellington Management Group LLP now owns 1,025,556 shares of the textile maker's stock valued at $68,630,000 after purchasing an additional 287,939 shares during the period. Finally, Loomis Sayles & Co. L P lifted its holdings in Skechers U.S.A. by 7.1% during the 3rd quarter. Loomis Sayles & Co. L P now owns 752,067 shares of the textile maker's stock worth $50,328,000 after buying an additional 49,734 shares during the period. 79.96% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research firms recently issued reports on SKX. Stifel Nicolaus dropped their target price on shares of Skechers U.S.A. from $83.00 to $80.00 and set a "buy" rating on the stock in a report on Friday. Deutsche Bank Aktiengesellschaft lifted their price target on shares of Skechers U.S.A. from $83.00 to $84.00 and gave the company a "buy" rating in a research note on Friday, October 25th. TD Cowen upped their price target on Skechers U.S.A. from $88.00 to $93.00 and gave the stock a "buy" rating in a research note on Wednesday, January 8th. Raymond James decreased their price objective on Skechers U.S.A. from $80.00 to $75.00 and set an "outperform" rating for the company in a report on Friday. Finally, Morgan Stanley lifted their price target on shares of Skechers U.S.A. from $81.00 to $84.00 and gave the company an "overweight" rating in a research report on Friday, October 25th. Three equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $81.25.

Insider Buying and Selling

In other Skechers U.S.A. news, COO David Weinberg sold 8,219 shares of the business's stock in a transaction on Tuesday, December 31st. The shares were sold at an average price of $67.48, for a total value of $554,618.12. Following the completion of the sale, the chief operating officer now directly owns 122,211 shares of the company's stock, valued at $8,246,798.28. The trade was a 6.30 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, President Michael Greenberg sold 10,274 shares of the firm's stock in a transaction dated Tuesday, December 31st. The shares were sold at an average price of $67.48, for a total value of $693,289.52. Following the transaction, the president now directly owns 149,327 shares in the company, valued at $10,076,585.96. This trade represents a 6.44 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 24.75% of the stock is owned by company insiders.

Skechers U.S.A. Price Performance

NYSE:SKX traded down $1.70 during trading hours on Tuesday, hitting $63.42. 1,813,250 shares of the company's stock traded hands, compared to its average volume of 2,414,624. Skechers U.S.A., Inc. has a 52 week low of $55.67 and a 52 week high of $78.85. The business's fifty day simple moving average is $70.54 and its two-hundred day simple moving average is $66.51. The company has a quick ratio of 1.25, a current ratio of 1.96 and a debt-to-equity ratio of 0.01. The firm has a market cap of $9.57 billion, a P/E ratio of 15.34, a P/E/G ratio of 0.95 and a beta of 1.19.

Skechers U.S.A. (NYSE:SKX - Get Free Report) last posted 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 13.81% and a net margin of 7.13%. On average, research analysts anticipate that Skechers U.S.A., Inc. will post 4.79 earnings per share for the current fiscal year.

Skechers U.S.A. 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.