Rheos Capital Works Inc. Buys New Stake in Skechers U.S.A., Inc. (NYSE:SKX)

Rheos Capital Works Inc. acquired a new stake in Skechers U.S.A., Inc. (NYSE:SKX - Free Report) during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 60,000 shares of the textile maker's stock, valued at approximately $4,034,000.

Other hedge funds have also recently made changes to their positions in the company. Sanctuary Advisors LLC lifted its holdings in Skechers U.S.A. by 88.1% in the 3rd quarter. Sanctuary Advisors LLC now owns 29,538 shares of the textile maker's stock worth $1,822,000 after purchasing an additional 13,836 shares in the last quarter. Victory Capital Management Inc. lifted its holdings in shares of Skechers U.S.A. by 22.3% in the third quarter. Victory Capital Management Inc. now owns 138,893 shares of the textile maker's stock worth $9,295,000 after buying an additional 25,289 shares in the last quarter. Transform Wealth LLC bought a new position in shares of Skechers U.S.A. during the third quarter worth $7,186,000. National Bank of Canada FI grew its stake in Skechers U.S.A. by 2,340.0% during the third quarter. National Bank of Canada FI now owns 70,710 shares of the textile maker's stock valued at $4,732,000 after acquiring an additional 67,812 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its stake in Skechers U.S.A. by 1.3% in 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 in the last quarter. Institutional investors own 79.96% of the company's stock.

Analyst Upgrades and Downgrades

A number of research analysts have recently weighed in on SKX shares. Bank of America cut their price objective on Skechers U.S.A. from $81.00 to $80.00 and set a "buy" rating for the company in a research report on Friday, October 25th. Evercore ISI raised their price target on Skechers U.S.A. from $72.00 to $85.00 and gave the company an "outperform" rating in a report on Tuesday, January 28th. TD Cowen upped their price objective on Skechers U.S.A. from $88.00 to $93.00 and gave the stock a "buy" rating in a report on Wednesday, January 8th. Deutsche Bank Aktiengesellschaft raised their target price on shares of Skechers U.S.A. from $83.00 to $84.00 and gave the company a "buy" rating in a report on Friday, October 25th. Finally, Morgan Stanley upped their price target on shares of Skechers U.S.A. from $81.00 to $84.00 and gave the company an "overweight" rating in a research note on Friday, October 25th. Two investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $81.60.

Skechers U.S.A. Stock Up 1.7 %

Shares of SKX traded up $1.28 during midday trading on Thursday, hitting $75.69. 4,593,124 shares of the company's stock traded hands, compared to its average volume of 1,948,947. The company has a current ratio of 1.96, a quick ratio of 1.25 and a debt-to-equity ratio of 0.01. The stock has a market capitalization of $11.43 billion, a price-to-earnings ratio of 18.64, a price-to-earnings-growth ratio of 0.92 and a beta of 1.19. Skechers U.S.A., Inc. has a 1 year low of $55.67 and a 1 year high of $78.85. The firm's fifty day moving average is $70.27 and its 200-day moving average is $66.39.

Skechers U.S.A. (NYSE:SKX - Get Free Report) last issued its quarterly 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 7.19% and a return on equity of 13.71%. As a group, sell-side analysts anticipate that Skechers U.S.A., Inc. will post 4.24 earnings per share for the current year.

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

In related news, President Michael Greenberg sold 10,274 shares of the company's stock in a transaction that occurred on Tuesday, December 31st. The stock was sold at an average price of $67.48, for a total value of $693,289.52. Following the sale, the president now owns 149,327 shares in the company, valued at $10,076,585.96. This represents a 6.44 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, COO David Weinberg sold 8,219 shares of the firm's stock in a transaction that occurred on Tuesday, December 31st. The stock was 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 of the company's stock, valued at $8,246,798.28. This represents a 6.30 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 24.75% of the company's stock.

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.