Montag & Caldwell LLC Buys New Position in Skechers U.S.A., Inc. (NYSE:SKX)

Montag & Caldwell LLC bought a new position in Skechers U.S.A., Inc. (NYSE:SKX - Free Report) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 5,683 shares of the textile maker's stock, valued at approximately $382,000.

A number of other institutional investors have also modified their holdings of SKX. TD Private Client Wealth LLC boosted its stake in Skechers U.S.A. by 534.3% in the fourth quarter. TD Private Client Wealth LLC now owns 425 shares of the textile maker's stock valued at $29,000 after acquiring an additional 358 shares during the period. UMB Bank n.a. grew its stake in shares of Skechers U.S.A. by 53.1% in the fourth quarter. UMB Bank n.a. now owns 689 shares of the textile maker's stock worth $46,000 after purchasing an additional 239 shares in the last quarter. IFP Advisors Inc grew its position in Skechers U.S.A. by 62.4% in the 4th quarter. IFP Advisors Inc now owns 825 shares of the textile maker's stock valued at $55,000 after buying an additional 317 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. acquired a new position in Skechers U.S.A. during the 4th quarter valued at about $65,000. Finally, Blue Trust Inc. raised its position in shares of Skechers U.S.A. by 20.7% during the 4th quarter. Blue Trust Inc. now owns 1,208 shares of the textile maker's stock worth $81,000 after buying an additional 207 shares in the last quarter. Institutional investors and hedge funds own 79.96% of the company's stock.

Wall Street Analyst Weigh In

SKX has been the subject of several research reports. TD Cowen raised their target price on Skechers U.S.A. from $88.00 to $93.00 and gave the company a "buy" rating in a research note on Wednesday, January 8th. Stifel Nicolaus cut their price objective on Skechers U.S.A. from $80.00 to $62.00 and set a "buy" rating on the stock in a report on Thursday, April 10th. StockNews.com lowered shares of Skechers U.S.A. from a "buy" rating to a "hold" rating in a report on Monday, February 10th. UBS Group dropped their price objective on shares of Skechers U.S.A. from $65.00 to $64.00 and set a "buy" rating on the stock in a research note on Monday, April 14th. 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 issued a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $74.67.

Skechers U.S.A. Stock Up 1.7 %

NYSE SKX traded up $0.82 during trading hours on Friday, hitting $47.53. 3,579,888 shares of the company traded hands, compared to its average volume of 2,250,101. Skechers U.S.A., Inc. has a twelve month low of $44.50 and a twelve month high of $78.85. The company has a debt-to-equity ratio of 0.01, a quick ratio of 1.12 and a current ratio of 1.97. The business's 50-day moving average is $56.42 and its 200-day moving average is $63.30. The stock has a market capitalization of $7.10 billion, a price-to-earnings ratio of 11.45, a P/E/G ratio of 1.11 and a beta of 1.08.

Skechers U.S.A. (NYSE:SKX - Get Free Report) last issued its earnings results on Thursday, February 6th. The textile maker reported $0.65 earnings per share (EPS) for the quarter, missing the consensus estimate 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%. Sell-side analysts anticipate that Skechers U.S.A., Inc. will post 4.47 earnings per share for the current year.

Insider Activity

In related news, COO David Weinberg sold 36,000 shares of the firm's stock in a transaction on Wednesday, February 12th. The stock was sold at an average price of $62.72, for a total value of $2,257,920.00. Following the transaction, the chief operating officer now owns 54,499 shares in the company, valued at approximately $3,418,177.28. This trade represents a 39.78 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Mark A. Nason sold 12,046 shares of the stock in a transaction that occurred on Tuesday, February 18th. The stock was sold at an average price of $66.08, for a total transaction of $795,999.68. Following the sale, the executive vice president now owns 25,675 shares in the company, valued at $1,696,604. This represents a 31.93 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 218,245 shares of company stock valued at $13,452,902. 24.75% of the stock is owned by insiders.

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.