KBC Group NV Buys 19,865 Shares of Skechers U.S.A., Inc. (NYSE:SKX)

KBC Group NV increased its holdings in shares of Skechers U.S.A., Inc. (NYSE:SKX - Free Report) by 11.3% in the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 195,503 shares of the textile maker's stock after purchasing an additional 19,865 shares during the quarter. KBC Group NV owned 0.13% of Skechers U.S.A. worth $13,146,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of SKX. Sei Investments Co. raised its holdings in shares of Skechers U.S.A. by 343.3% during the 2nd quarter. Sei Investments Co. now owns 69,463 shares of the textile maker's stock valued at $4,801,000 after buying an additional 53,794 shares during the period. Creative Planning boosted its stake in shares of Skechers U.S.A. by 15.7% in the second quarter. Creative Planning now owns 9,504 shares of the textile maker's stock valued at $657,000 after purchasing an additional 1,292 shares during the period. Quarry LP grew its stake in shares of Skechers U.S.A. by 44.6% during the second quarter. Quarry LP now owns 1,187 shares of the textile maker's stock valued at $82,000 after acquiring an additional 366 shares in the last quarter. Truist Financial Corp grew its stake in Skechers U.S.A. by 40.8% during the 2nd quarter. Truist Financial Corp now owns 24,172 shares of the textile maker's stock valued at $1,671,000 after purchasing an additional 7,004 shares in the last quarter. Finally, Cetera Investment Advisers increased its holdings in Skechers U.S.A. by 32.9% during the 2nd quarter. Cetera Investment Advisers now owns 25,016 shares of the textile maker's stock worth $1,729,000 after purchasing an additional 6,193 shares during the last quarter. 79.96% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, President Michael Greenberg sold 10,274 shares of Skechers U.S.A. stock in a transaction dated Tuesday, December 31st. The stock was sold at an average price of $67.48, for a total transaction of $693,289.52. Following the completion of the sale, the president now directly owns 149,327 shares in the company, valued at $10,076,585.96. The trade was a 6.44 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, COO David Weinberg sold 8,219 shares of the business's stock in a transaction dated Tuesday, December 31st. The stock was 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. This represents a 6.30 % decrease in their position. The disclosure for this sale can be found here. 24.75% of the stock is currently owned by insiders.

Skechers U.S.A. Price Performance

NYSE SKX traded up $1.25 on Thursday, reaching $77.98. 1,065,326 shares of the stock traded hands, compared to its average volume of 1,677,266. Skechers U.S.A., Inc. has a 12 month low of $55.67 and a 12 month high of $78.82. 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's fifty day simple moving average is $69.03 and its 200 day simple moving average is $66.06. The company has a market cap of $11.77 billion, a price-to-earnings ratio of 19.26, a P/E/G ratio of 0.90 and a beta of 1.19.

Wall Street Analysts Forecast Growth

A number of research firms have commented on SKX. Bank of America reduced their price objective on shares of Skechers U.S.A. from $81.00 to $80.00 and set a "buy" rating on the stock in a research note on Friday, October 25th. Evercore ISI upped their price target on Skechers U.S.A. from $72.00 to $85.00 and gave the company an "outperform" rating in a research report on Tuesday. Barclays boosted their target price on shares of Skechers U.S.A. from $79.00 to $80.00 and gave the company an "overweight" rating in a research note on Friday, October 25th. TD Cowen increased their price objective on shares of 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. Finally, Morgan Stanley increased their price target on Skechers U.S.A. from $81.00 to $84.00 and gave the stock an "overweight" rating in a research report on Friday, October 25th. Two investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company's stock. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $80.18.

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.