191,137 Shares in Skechers U.S.A., Inc. (NYSE:SKX) Acquired by Raymond James Financial Inc.

Raymond James Financial Inc. acquired a new position in shares of Skechers U.S.A., Inc. (NYSE:SKX - Free Report) during the 4th quarter, according to its most recent Form 13F filing with the SEC. The firm acquired 191,137 shares of the textile maker's stock, valued at approximately $12,852,000. Raymond James Financial Inc. owned about 0.13% of Skechers U.S.A. as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently bought and sold shares of the business. Pacer Advisors Inc. grew its position in Skechers U.S.A. by 5,780.6% during the 3rd quarter. Pacer Advisors Inc. now owns 2,639,390 shares of the textile maker's stock worth $176,628,000 after purchasing an additional 2,594,507 shares during the last quarter. Bank of New York Mellon Corp grew its position in Skechers U.S.A. by 70.4% during the 4th quarter. Bank of New York Mellon Corp now owns 2,308,283 shares of the textile maker's stock worth $155,209,000 after purchasing an additional 953,528 shares during the last quarter. Geode Capital Management LLC grew its position in Skechers U.S.A. by 0.5% during the 3rd quarter. Geode Capital Management LLC now owns 2,216,905 shares of the textile maker's stock worth $148,395,000 after purchasing an additional 11,026 shares during the last quarter. Charles Schwab Investment Management Inc. grew its position in Skechers U.S.A. by 1.3% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,316,882 shares of the textile maker's stock worth $88,126,000 after purchasing an additional 17,429 shares during the last quarter. Finally, Wellington Management Group LLP grew its position in Skechers U.S.A. by 39.0% during the 3rd quarter. Wellington Management Group LLP now owns 1,025,556 shares of the textile maker's stock worth $68,630,000 after purchasing an additional 287,939 shares during the last quarter. 79.96% of the stock is owned by hedge funds and other institutional investors.

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Skechers U.S.A. Price Performance

SKX traded down $0.26 on Friday, hitting $56.11. 2,545,145 shares of the company were exchanged, compared to its average volume of 2,014,931. Skechers U.S.A., Inc. has a fifty-two week low of $53.79 and a fifty-two week high of $78.85. The firm has a market capitalization of $8.38 billion, a P/E ratio of 13.52, a price-to-earnings-growth ratio of 1.11 and a beta of 1.21. 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 fifty day moving average is $65.55 and its 200 day moving average is $65.52.

Skechers U.S.A. (NYSE:SKX - Get Free Report) last announced its quarterly 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%. As a group, sell-side analysts anticipate that Skechers U.S.A., Inc. will post 4.47 EPS for the current year.

Analysts Set New Price Targets

Several research analysts have issued reports on the stock. Barclays lowered their price objective on shares of Skechers U.S.A. from $80.00 to $77.00 and set an "overweight" rating on the stock in a research report on Monday, February 10th. Needham & Company LLC reaffirmed a "hold" rating on shares of Skechers U.S.A. in a report on Friday, February 7th. TD Cowen lifted their target price on shares of Skechers U.S.A. from $88.00 to $93.00 and gave the company a "buy" rating in a report on Wednesday, January 8th. Piper Sandler began coverage on shares of Skechers U.S.A. in a report on Tuesday, December 10th. They issued a "neutral" rating and a $65.00 target price on the stock. Finally, StockNews.com downgraded shares of Skechers U.S.A. from a "buy" rating to a "hold" rating in a report on Monday, February 10th. Three analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. Based on data from MarketBeat.com, Skechers U.S.A. presently has an average rating of "Moderate Buy" and an average target price of $81.25.

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

In related news, CFO John M. Vandemore sold 5,112 shares of the company's stock in a transaction that occurred on Monday, March 3rd. The shares were sold at an average price of $60.76, for a total transaction of $310,605.12. Following the transaction, the chief financial officer now owns 83,328 shares of the company's stock, valued at approximately $5,063,009.28. This represents a 5.78 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, COO David Weinberg sold 8,219 shares of the company's stock in a transaction that occurred on Tuesday, December 31st. The shares were sold at an average price of $67.48, for a total transaction of $554,618.12. Following the transaction, the chief operating officer now directly owns 122,211 shares in the company, valued at $8,246,798.28. The trade was a 6.30 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 236,738 shares of company stock valued at $14,700,809 over the last quarter. Corporate insiders own 24.75% of the company's stock.

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.