Fmr LLC Decreases Stake in Skechers U.S.A., Inc. (NYSE:SKX)

FMR LLC decreased its holdings in shares of Skechers U.S.A., Inc. (NYSE:SKX - Free Report) by 0.7% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 19,744,469 shares of the textile maker's stock after selling 136,903 shares during the quarter. FMR LLC owned about 13.08% of Skechers U.S.A. worth $1,327,618,000 as of its most recent SEC filing.

Other institutional investors have also bought and sold shares of the company. Sanctuary Advisors LLC raised its position in shares of Skechers U.S.A. by 88.1% during the 3rd quarter. Sanctuary Advisors LLC now owns 29,538 shares of the textile maker's stock valued at $1,822,000 after buying an additional 13,836 shares in the last quarter. Raymond James Financial Inc. purchased a new stake in Skechers U.S.A. during the fourth quarter valued at approximately $12,852,000. Schroder Investment Management Group lifted its stake in shares of Skechers U.S.A. by 11.3% in the 4th quarter. Schroder Investment Management Group now owns 177,343 shares of the textile maker's stock valued at $12,010,000 after purchasing an additional 18,024 shares during the last quarter. National Bank of Canada FI boosted its holdings in shares of Skechers U.S.A. by 2,340.0% in the 3rd quarter. National Bank of Canada FI now owns 70,710 shares of the textile maker's stock worth $4,732,000 after purchasing an additional 67,812 shares during the period. Finally, Assenagon Asset Management S.A. boosted its stake in Skechers U.S.A. by 15.2% during the fourth quarter. Assenagon Asset Management S.A. now owns 120,007 shares of the textile maker's stock worth $8,069,000 after buying an additional 15,874 shares during the period. Institutional investors own 79.96% of the company's stock.

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

In other Skechers U.S.A. news, EVP Mark A. Nason sold 12,046 shares of Skechers U.S.A. stock in a transaction on Tuesday, February 18th. The shares were sold at an average price of $66.08, for a total value of $795,999.68. Following the transaction, the executive vice president now directly owns 25,675 shares of the company's stock, valued at approximately $1,696,604. The trade was a 31.93 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Robert Greenberg sold 52,600 shares of the stock in a transaction on Wednesday, February 12th. The shares were sold at an average price of $62.72, for a total value of $3,299,072.00. Following the sale, the chief executive officer now owns 61,367 shares of the company's stock, valued at approximately $3,848,938.24. This represents a 46.15 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 218,245 shares of company stock worth $13,452,902 over the last quarter. Insiders own 24.75% of the company's stock.

Analysts Set New Price Targets

Several analysts have issued reports on SKX shares. Barclays decreased their price objective on shares of Skechers U.S.A. from $80.00 to $77.00 and set an "overweight" rating for the company in a research note on Monday, February 10th. Bank of America decreased their price target on Skechers U.S.A. from $76.00 to $70.00 and set a "buy" rating for the company in a research note on Monday, March 24th. Evercore ISI upped their price objective on Skechers U.S.A. from $72.00 to $85.00 and gave the company an "outperform" rating in a research report on Tuesday, January 28th. TD Cowen lifted their target price on Skechers U.S.A. from $88.00 to $93.00 and gave the stock a "buy" rating in a research report on Wednesday, January 8th. Finally, StockNews.com cut shares of Skechers U.S.A. from a "buy" rating to a "hold" rating in a report on Monday, February 10th. Three investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $78.92.

Skechers U.S.A. Stock Up 0.3 %

Shares of SKX traded up $0.12 during mid-day trading on Friday, hitting $49.47. The company's stock had a trading volume of 3,786,343 shares, compared to its average volume of 2,232,669. The firm has a market capitalization of $7.39 billion, a price-to-earnings ratio of 11.92, a PEG ratio of 1.11 and a beta of 1.08. Skechers U.S.A., Inc. has a 52-week low of $44.50 and a 52-week high of $78.85. The company has a current ratio of 1.97, a quick ratio of 1.12 and a debt-to-equity ratio of 0.01. The company's 50-day moving average is $58.55 and its 200-day moving average is $63.99.

Skechers U.S.A. (NYSE:SKX - Get Free Report) last announced 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%. On average, equities research analysts forecast that Skechers U.S.A., Inc. will post 4.47 EPS for the current fiscal year.

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.