Empowered Funds LLC Purchases 7,657 Shares of Skechers U.S.A., Inc. (NYSE:SKX)

Empowered Funds LLC lifted its holdings in shares of Skechers U.S.A., Inc. (NYSE:SKX - Free Report) by 7.0% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 116,738 shares of the textile maker's stock after purchasing an additional 7,657 shares during the period. Empowered Funds LLC owned about 0.08% of Skechers U.S.A. worth $7,849,000 as of its most recent filing with the SEC.

A number of other large investors also recently added to or reduced their stakes in the business. Pacer Advisors Inc. lifted its holdings in Skechers U.S.A. by 5,780.6% in the 3rd quarter. Pacer Advisors Inc. now owns 2,639,390 shares of the textile maker's stock worth $176,628,000 after buying an additional 2,594,507 shares during the period. Geode Capital Management LLC increased its position in Skechers U.S.A. by 0.5% during the 3rd quarter. Geode Capital Management LLC now owns 2,216,905 shares of the textile maker's stock valued at $148,395,000 after purchasing an additional 11,026 shares during the period. Charles Schwab Investment Management Inc. raised its holdings in Skechers U.S.A. by 1.3% in the 3rd 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. Wellington Management Group LLP raised its holdings in Skechers U.S.A. by 39.0% in the 3rd quarter. Wellington Management Group LLP now owns 1,025,556 shares of the textile maker's stock worth $68,630,000 after purchasing an additional 287,939 shares in the last quarter. Finally, Loomis Sayles & Co. L P lifted its holdings in Skechers U.S.A. by 7.1% in the third 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. Hedge funds and other institutional investors own 79.96% of the company's stock.

Skechers U.S.A. Stock Performance

NYSE SKX traded down $1.14 during trading hours on Tuesday, hitting $63.97. The company's stock had a trading volume of 4,311,103 shares, compared to its average volume of 2,509,809. Skechers U.S.A., Inc. has a 12 month low of $55.67 and a 12 month high of $78.85. The company's 50 day simple moving average is $70.54 and its two-hundred day simple moving average is $66.51. The company has a debt-to-equity ratio of 0.01, a current ratio of 1.96 and a quick ratio of 1.25. The company has a market cap of $9.66 billion, a P/E ratio of 15.41, a price-to-earnings-growth ratio of 0.95 and a beta of 1.19.

Skechers U.S.A. (NYSE:SKX - Get Free Report) last announced its quarterly earnings results on Thursday, February 6th. The textile maker reported $0.65 EPS for the quarter, missing analysts' consensus estimates 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%. As a group, sell-side analysts expect that Skechers U.S.A., Inc. will post 4.79 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on SKX. Stifel Nicolaus dropped their price target on Skechers U.S.A. from $83.00 to $80.00 and set a "buy" rating on the stock in a research report on Friday. Raymond James cut their price objective on shares of Skechers U.S.A. from $80.00 to $75.00 and set an "outperform" rating on the stock in a report on Friday. Morgan Stanley raised their target price on shares of Skechers U.S.A. from $81.00 to $84.00 and gave the company an "overweight" rating in a research note on Friday, October 25th. TD Cowen boosted their price target on Skechers U.S.A. from $88.00 to $93.00 and gave the stock a "buy" rating in a research report on Wednesday, January 8th. Finally, Piper Sandler began coverage on Skechers U.S.A. in a research report on Tuesday, December 10th. They set a "neutral" rating and a $65.00 price objective for the company. Three investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company's stock. According to MarketBeat.com, Skechers U.S.A. currently has an average rating of "Moderate Buy" and an average price target of $81.25.

Insiders Place Their Bets

In related news, COO David Weinberg sold 8,219 shares of the firm's stock in a transaction that occurred 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 transaction, the chief operating officer now owns 122,211 shares of the company's stock, valued at approximately $8,246,798.28. This trade represents a 6.30 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, President Michael Greenberg sold 10,274 shares of the company's stock in a transaction that occurred on 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 of the company's stock, valued at approximately $10,076,585.96. This 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 currently owned by insiders.

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.