T. Rowe Price Investment Management Inc. Has $57.39 Million Stock Holdings in Skechers U.S.A., Inc. (NYSE:SKX)

T. Rowe Price Investment Management Inc. decreased its holdings in Skechers U.S.A., Inc. (NYSE:SKX - Free Report) by 12.0% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 853,524 shares of the textile maker's stock after selling 116,435 shares during the period. T. Rowe Price Investment Management Inc. owned 0.57% of Skechers U.S.A. worth $57,391,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of the stock. Dark Forest Capital Management LP purchased a new stake in shares of Skechers U.S.A. in the fourth quarter valued at approximately $291,000. Anomaly Capital Management LP boosted its position in Skechers U.S.A. by 51.2% in the fourth quarter. Anomaly Capital Management LP now owns 2,989,015 shares of the textile maker's stock valued at $200,981,000 after buying an additional 1,011,815 shares during the last quarter. Stifel Financial Corp grew its position in Skechers U.S.A. by 0.6% during the 4th quarter. Stifel Financial Corp now owns 73,257 shares of the textile maker's stock worth $4,926,000 after purchasing an additional 449 shares during the period. Tower Research Capital LLC TRC lifted its holdings in Skechers U.S.A. by 139.2% in the fourth quarter. Tower Research Capital LLC TRC now owns 11,459 shares of the textile maker's stock valued at $771,000 after acquiring an additional 6,668 shares during the period. Finally, MetLife Investment Management LLC increased its holdings in shares of Skechers U.S.A. by 8.2% during the 4th quarter. MetLife Investment Management LLC now owns 74,687 shares of the textile maker's stock valued at $5,022,000 after purchasing an additional 5,676 shares in the last quarter. Hedge funds and other institutional investors own 79.96% of the company's stock.

Skechers U.S.A. Stock Up 0.6 %

Shares of Skechers U.S.A. stock traded up $0.28 during trading on Monday, hitting $48.07. 3,901,690 shares of the stock traded hands, compared to its average volume of 2,285,140. The company has a fifty day moving average price of $54.45 and a two-hundred day moving average price of $62.51. Skechers U.S.A., Inc. has a twelve month low of $44.50 and a twelve month high of $78.85. The stock has a market cap of $7.18 billion, a P/E ratio of 11.58, a PEG ratio of 1.11 and a beta of 1.08. 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. (NYSE:SKX - Get Free Report) last posted its earnings results on Thursday, April 24th. The textile maker reported $1.34 EPS for the quarter, topping the consensus estimate of $1.17 by $0.17. The company had revenue of $2.41 billion during the quarter, compared to the consensus estimate of $2.43 billion. Skechers U.S.A. had a net margin of 7.13% and a return on equity of 13.73%. The company's revenue for the quarter was up 7.1% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.33 earnings per share. Equities research analysts predict that Skechers U.S.A., Inc. will post 4.47 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on SKX shares. UBS Group cut their target price on shares of Skechers U.S.A. from $65.00 to $64.00 and set a "buy" rating for the company in a research note on Monday, April 14th. TD Cowen raised their price objective 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. Barclays decreased their price objective on Skechers U.S.A. from $77.00 to $53.00 and set an "overweight" rating for the company in a research note on Friday. Evercore ISI reduced their target price on Skechers U.S.A. from $78.00 to $60.00 and set an "outperform" rating for the company in a report on Thursday, April 17th. Finally, Stifel Nicolaus lowered their price objective 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. Three research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company's stock. According to data from MarketBeat, Skechers U.S.A. presently has an average rating of "Moderate Buy" and a consensus price target of $71.62.

Insider Activity

In other Skechers U.S.A. news, CEO Robert Greenberg sold 52,600 shares of the firm's stock in a transaction that occurred on Wednesday, February 12th. The stock was 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 $3,848,938.24. This trade represents a 46.15 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, General Counsel Phillip Paccione sold 10,994 shares of the stock in a transaction that occurred on Monday, March 3rd. The shares were sold at an average price of $56.63, for a total value of $622,590.22. Following the completion of the sale, the general counsel now directly owns 15,000 shares of the company's stock, valued at $849,450. This represents a 42.29 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 218,245 shares of company stock valued at $13,452,902. Insiders own 24.78% of the company's stock.

About Skechers U.S.A.

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.