Franklin Resources Inc. Boosts Position in Skechers U.S.A., Inc. (NYSE:SKX)

Franklin Resources Inc. increased its stake in shares of Skechers U.S.A., Inc. (NYSE:SKX - Free Report) by 7.5% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 177,663 shares of the textile maker's stock after acquiring an additional 12,449 shares during the quarter. Franklin Resources Inc. owned approximately 0.12% of Skechers U.S.A. worth $11,946,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also bought and sold shares of the company. Vanguard Group Inc. grew its holdings in shares of Skechers U.S.A. by 0.7% in the fourth quarter. Vanguard Group Inc. now owns 12,544,233 shares of the textile maker's stock worth $843,474,000 after purchasing an additional 82,143 shares during the last quarter. Bank of New York Mellon Corp boosted its position in Skechers U.S.A. by 70.4% during the 4th quarter. Bank of New York Mellon Corp now owns 2,308,283 shares of the textile maker's stock valued at $155,209,000 after buying an additional 953,528 shares during the period. Geode Capital Management LLC grew its holdings in Skechers U.S.A. by 0.5% in the 3rd quarter. Geode Capital Management LLC now owns 2,216,905 shares of the textile maker's stock worth $148,395,000 after acquiring an additional 11,026 shares during the last quarter. Norges Bank purchased a new position in shares of Skechers U.S.A. in the fourth quarter valued at about $105,741,000. Finally, Wellington Management Group LLP raised its stake in shares of Skechers U.S.A. by 6.3% during the fourth quarter. Wellington Management Group LLP now owns 1,090,413 shares of the textile maker's stock valued at $73,319,000 after acquiring an additional 64,857 shares during the last quarter. 79.96% of the stock is owned by hedge funds and other institutional investors.

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Insider Activity at Skechers U.S.A.

In other Skechers U.S.A. news, CFO John M. Vandemore sold 5,112 shares of the business's stock in a transaction dated Monday, March 3rd. The stock was sold at an average price of $60.76, for a total value of $310,605.12. Following the completion of the transaction, the chief financial officer now owns 83,328 shares of the company's stock, valued at approximately $5,063,009.28. The trade was a 5.78 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, COO David Weinberg sold 36,000 shares of the firm's stock in a transaction dated Wednesday, February 12th. The shares were sold at an average price of $62.72, for a total transaction of $2,257,920.00. Following the sale, the chief operating officer now directly owns 54,499 shares in the company, valued at approximately $3,418,177.28. The trade was a 39.78 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 218,245 shares of company stock valued at $13,452,902 over the last 90 days. Corporate insiders own 24.75% of the company's stock.

Skechers U.S.A. Stock Up 0.3 %

NYSE:SKX traded up $0.12 during mid-day trading on Friday, hitting $49.47. 3,786,343 shares of the company's stock were exchanged, compared to its average volume of 2,232,669. The company has a market cap of $7.39 billion, a PE ratio of 11.92, a P/E/G ratio of 1.11 and a beta of 1.08. The company has a debt-to-equity ratio of 0.01, a current ratio of 1.97 and a quick ratio of 1.12. Skechers U.S.A., Inc. has a one year low of $44.50 and a one year high of $78.85. The business has a fifty day moving average price of $58.55 and a 200 day moving average price of $63.99.

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 (EPS) for the quarter, missing analysts' consensus estimates of $0.73 by ($0.08). Skechers U.S.A. had a net margin of 7.13% and a return on equity of 13.73%. Equities analysts predict that Skechers U.S.A., Inc. will post 4.47 EPS for the current year.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on SKX. Barclays cut their target price on Skechers U.S.A. from $80.00 to $77.00 and set an "overweight" rating on the stock in a research note on Monday, February 10th. TD Cowen lifted their price objective 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. Bank of America reduced their target price on Skechers U.S.A. from $76.00 to $70.00 and set a "buy" rating on the stock in a research note on Monday, March 24th. Evercore ISI raised their price target on Skechers U.S.A. from $72.00 to $85.00 and gave the stock an "outperform" rating in a research note on Tuesday, January 28th. Finally, Needham & Company LLC reissued a "hold" rating on shares of Skechers U.S.A. in a research report on Friday, February 7th. Three equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. According to MarketBeat.com, Skechers U.S.A. has a consensus rating of "Moderate Buy" and a consensus target price of $78.92.

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.