Skechers U.S.A., Inc. (NYSE:SKX) Stock Position Decreased by Canada Pension Plan Investment Board

Canada Pension Plan Investment Board reduced its position in shares of Skechers U.S.A., Inc. (NYSE:SKX - Free Report) by 32.0% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 136,800 shares of the textile maker's stock after selling 64,300 shares during the period. Canada Pension Plan Investment Board owned 0.09% of Skechers U.S.A. worth $9,198,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of SKX. NewEdge Advisors LLC grew its holdings in Skechers U.S.A. by 85.2% in the 4th quarter. NewEdge Advisors LLC now owns 413 shares of the textile maker's stock valued at $28,000 after buying an additional 190 shares during the period. TD Private Client Wealth LLC increased its position in Skechers U.S.A. by 534.3% during the fourth quarter. TD Private Client Wealth LLC now owns 425 shares of the textile maker's stock worth $29,000 after purchasing an additional 358 shares during the last quarter. UMB Bank n.a. raised its stake in Skechers U.S.A. by 53.1% during 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 during the period. IFP Advisors Inc boosted its holdings in shares of 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 purchasing an additional 317 shares during the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. purchased a new stake in shares of Skechers U.S.A. during the 4th quarter valued at $65,000. 79.96% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research firms have issued reports on SKX. Morgan Stanley lowered their price target on Skechers U.S.A. from $80.00 to $73.00 and set an "overweight" rating for the company in a research report on Friday. Stifel Nicolaus reduced their price target on shares of Skechers U.S.A. from $80.00 to $62.00 and set a "buy" rating on the stock in a research report on Thursday, April 10th. Bank of America dropped 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 research report on Monday, March 24th. Monness Crespi & Hardt decreased their price target on shares of Skechers U.S.A. from $85.00 to $70.00 and set a "buy" rating for the company in a research report on Friday. Finally, Barclays cut their price objective on Skechers U.S.A. from $77.00 to $53.00 and set an "overweight" rating on the stock in a research report on Friday. Three equities research analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. According to MarketBeat.com, Skechers U.S.A. has an average rating of "Moderate Buy" and a consensus price target of $71.62.

Skechers U.S.A. Stock Down 5.4 %

Shares of NYSE:SKX traded down $2.72 during trading on Friday, hitting $47.77. The company's stock had a trading volume of 6,381,644 shares, compared to its average volume of 2,301,571. Skechers U.S.A., Inc. has a fifty-two week low of $44.50 and a fifty-two week high of $78.85. The stock's 50-day moving average price is $55.20 and its two-hundred day moving average price is $62.83. 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 company has a market capitalization of $7.13 billion, a PE ratio of 11.51, a PEG ratio of 1.11 and a beta of 1.08.

Skechers U.S.A. (NYSE:SKX - Get Free Report) last announced its earnings results on Thursday, April 24th. The textile maker reported $1.34 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.17 by $0.17. Skechers U.S.A. had a return on equity of 13.73% and a net margin of 7.13%. The company had revenue of $2.41 billion for the quarter, compared to analyst estimates of $2.43 billion. As a group, sell-side analysts expect that Skechers U.S.A., Inc. will post 4.47 EPS for the current year.

Insider Transactions at Skechers U.S.A.

In related news, General Counsel Phillip Paccione sold 10,994 shares of Skechers U.S.A. stock in a transaction dated Monday, March 3rd. The stock was sold at an average price of $56.63, for a total value of $622,590.22. Following the completion of the transaction, the general counsel now directly owns 15,000 shares in the company, valued at approximately $849,450. This trade represents a 42.29 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, 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 value of $310,605.12. Following the completion of the sale, the chief financial officer now directly 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 disclosure for this sale can be found here. In the last 90 days, insiders sold 218,245 shares of company stock valued at $13,452,902. Insiders own 24.78% 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.