HM Payson & Co. Takes Position in Skechers U.S.A., Inc. (NYSE:SKX)

HM Payson & Co. bought a new position in Skechers U.S.A., Inc. (NYSE:SKX - Free Report) in the fourth quarter, according to the company in its most recent filing with the SEC. The fund bought 6,200 shares of the textile maker's stock, valued at approximately $417,000.

Several other large investors have also recently modified their holdings of the stock. Edgestream Partners L.P. boosted its stake in shares of Skechers U.S.A. by 816.1% during the 4th quarter. Edgestream Partners L.P. now owns 80,273 shares of the textile maker's stock worth $5,398,000 after purchasing an additional 71,511 shares during the period. Jackson Creek Investment Advisors LLC lifted its stake in Skechers U.S.A. by 11.0% in the fourth quarter. Jackson Creek Investment Advisors LLC now owns 5,536 shares of the textile maker's stock worth $372,000 after purchasing an additional 548 shares during the last quarter. Inceptionr LLC purchased a new position in shares of Skechers U.S.A. during the fourth quarter valued at approximately $705,000. Raymond James Financial Inc. bought a new position in shares of Skechers U.S.A. during the fourth quarter valued at approximately $12,852,000. Finally, Arizona State Retirement System raised its holdings in shares of Skechers U.S.A. by 1.2% in the fourth quarter. Arizona State Retirement System now owns 38,589 shares of the textile maker's stock worth $2,595,000 after buying an additional 466 shares during the period. Institutional investors own 79.96% of the company's stock.

Insider Buying and Selling

In related news, CFO John M. Vandemore sold 5,112 shares of the company'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 transaction, the chief financial officer now directly owns 83,328 shares of the company's stock, valued at $5,063,009.28. This represents a 5.78 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, CEO Robert Greenberg sold 52,600 shares of the company's stock in a transaction dated Wednesday, February 12th. The shares were sold at an average price of $62.72, for a total value of $3,299,072.00. Following the transaction, the chief executive officer now directly owns 61,367 shares in the company, valued at $3,848,938.24. This represents a 46.15 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 236,738 shares of company stock worth $14,700,809 in the last three months. 24.75% of the stock is owned by insiders.

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Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on the company. Raymond James dropped 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, February 7th. Needham & Company LLC reissued a "hold" rating on shares of Skechers U.S.A. in a research note on Friday, February 7th. Evercore ISI upped their price target on shares of Skechers U.S.A. from $72.00 to $85.00 and gave the stock an "outperform" rating in a report on Tuesday, January 28th. 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 report on Monday, February 10th. Finally, StockNews.com cut shares of Skechers U.S.A. from a "buy" rating to a "hold" rating in a research report on Monday, February 10th. Three equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company's stock. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $81.25.

Skechers U.S.A. Stock Up 1.3 %

Shares of NYSE SKX traded up $0.75 during mid-day trading on Wednesday, reaching $56.41. 2,364,441 shares of the company were exchanged, compared to its average volume of 1,995,177. 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 stock has a market cap of $8.52 billion, a price-to-earnings ratio of 13.59, a P/E/G ratio of 1.11 and a beta of 1.21. Skechers U.S.A., Inc. has a 1 year low of $53.79 and a 1 year high of $78.85. The firm has a 50-day moving average of $67.31 and a 200 day moving average of $66.11.

Skechers U.S.A. (NYSE:SKX - Get Free Report) last issued its quarterly earnings data on Thursday, February 6th. The textile maker reported $0.65 earnings per share for the quarter, missing analysts' consensus estimates 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, research analysts expect that Skechers U.S.A., Inc. will post 4.47 earnings per share for the current year.

About Skechers U.S.A.

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.