Skechers U.S.A., Inc. (NYSE:SKX) Shares Purchased by Geode Capital Management LLC

Geode Capital Management LLC raised its stake in shares of Skechers U.S.A., Inc. (NYSE:SKX - Free Report) by 3.5% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 2,294,976 shares of the textile maker's stock after purchasing an additional 78,071 shares during the period. Geode Capital Management LLC owned 1.52% of Skechers U.S.A. worth $154,361,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Norges Bank purchased a new stake in shares of Skechers U.S.A. during the 4th quarter valued at $105,741,000. Bank of New York Mellon Corp boosted its holdings in Skechers U.S.A. by 70.4% in the fourth 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 acquiring an additional 953,528 shares during the last quarter. Wellington Management Group LLP grew its position in Skechers U.S.A. by 39.0% during 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 acquiring an additional 287,939 shares during the period. Vaughan Nelson Investment Management L.P. increased its stake in Skechers U.S.A. by 68.3% during the fourth quarter. Vaughan Nelson Investment Management L.P. now owns 623,745 shares of the textile maker's stock worth $41,940,000 after acquiring an additional 253,045 shares during the last quarter. Finally, Raymond James Financial Inc. purchased a new position in shares of Skechers U.S.A. in the 4th quarter worth about $12,852,000. Institutional investors and hedge funds own 79.96% of the company's stock.

Skechers U.S.A. Stock Up 0.3 %

Shares of SKX traded up $0.12 during trading on Friday, reaching $49.47. The company's stock had a trading volume of 3,786,343 shares, compared to its average volume of 2,232,669. The company has a market cap of $7.39 billion, a price-to-earnings ratio of 11.92, a P/E/G ratio of 1.11 and a beta of 1.08. The company has a fifty day moving average of $58.55 and a two-hundred day moving average of $63.99. The company has a quick ratio of 1.12, a current ratio of 1.97 and a debt-to-equity ratio of 0.01. Skechers U.S.A., Inc. has a twelve month low of $44.50 and a twelve month high of $78.85.

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Skechers U.S.A. (NYSE:SKX - Get Free Report) last released its earnings results 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.

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

In other Skechers U.S.A. news, CEO Robert Greenberg sold 52,600 shares of the stock in a transaction on Wednesday, February 12th. The shares were sold at an average price of $62.72, for a total transaction of $3,299,072.00. Following the sale, the chief executive officer now directly owns 61,367 shares of the company's stock, valued at approximately $3,848,938.24. This represents a 46.15 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO John M. Vandemore sold 5,112 shares of the firm's stock in a transaction dated 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 owns 83,328 shares in the company, valued at approximately $5,063,009.28. The trade was a 5.78 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 218,245 shares of company stock worth $13,452,902 over the last quarter. 24.75% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on the company. UBS Group decreased their target price on Skechers U.S.A. from $92.00 to $90.00 and set a "buy" rating for the company in a report on Friday, February 7th. Barclays decreased their price objective on shares of Skechers U.S.A. from $80.00 to $77.00 and set an "overweight" rating for the company in a research note on Monday, February 10th. StockNews.com lowered shares of Skechers U.S.A. from a "buy" rating to a "hold" rating in a research report on Monday, February 10th. Needham & Company LLC restated a "hold" rating on shares of Skechers U.S.A. in a report on Friday, February 7th. Finally, TD Cowen increased their price target on Skechers U.S.A. from $88.00 to $93.00 and gave the company a "buy" rating in a report on Wednesday, January 8th. Three investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target 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.