Skechers U.S.A., Inc. (NYSE:SKX) Stock Holdings Increased by Pictet Asset Management Holding SA

Pictet Asset Management Holding SA boosted its holdings in Skechers U.S.A., Inc. (NYSE:SKX - Free Report) by 11.2% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 105,929 shares of the textile maker's stock after purchasing an additional 10,668 shares during the period. Pictet Asset Management Holding SA owned about 0.07% of Skechers U.S.A. worth $7,123,000 at the end of the most recent reporting period.

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

Analyst Upgrades and Downgrades

SKX has been the topic of several research analyst reports. 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. Stifel Nicolaus reduced their target price on Skechers U.S.A. from $83.00 to $80.00 and set a "buy" rating on the stock in a report on Friday, February 7th. Barclays lowered their price target on 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. TD Cowen upped their price target on Skechers U.S.A. from $88.00 to $93.00 and gave the company a "buy" rating in a research report on Wednesday, January 8th. Finally, Bank of America decreased their price objective on shares of Skechers U.S.A. from $76.00 to $70.00 and set a "buy" rating for the company in a report on Monday, March 24th. Three equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to data from MarketBeat, Skechers U.S.A. has an average rating of "Moderate Buy" and a consensus target price of $80.42.

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Skechers U.S.A. Stock Performance

Shares of SKX traded up $1.33 during midday trading on Friday, hitting $50.29. 7,405,275 shares of the stock traded hands, compared to its average volume of 2,144,060. The company has a debt-to-equity ratio of 0.01, a quick ratio of 1.12 and a current ratio of 1.97. Skechers U.S.A., Inc. has a 1-year low of $45.69 and a 1-year high of $78.85. The business's 50 day moving average price is $62.35 and its two-hundred day moving average price is $64.77. The firm has a market capitalization of $7.51 billion, a PE ratio of 12.12, a price-to-earnings-growth ratio of 1.11 and a beta of 1.08.

Skechers U.S.A. (NYSE:SKX - Get Free Report) last posted its earnings results 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 research analysts predict that Skechers U.S.A., Inc. will post 4.47 EPS for the current fiscal year.

Insider Buying and Selling

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 shares were sold at an average price of $60.76, for a total transaction of $310,605.12. Following the sale, the chief financial officer now directly owns 83,328 shares in the company, valued at approximately $5,063,009.28. The trade was a 5.78 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Robert Greenberg sold 52,600 shares of the stock in a transaction that occurred 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 completion of the transaction, the chief executive officer now owns 61,367 shares of the company's stock, valued at $3,848,938.24. This trade represents a 46.15 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 218,245 shares of company stock valued at $13,452,902 in the last three months. 24.75% of the stock is currently owned by corporate insiders.

Skechers U.S.A. 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.