Vanguard Group Inc. Grows Holdings in Skechers U.S.A., Inc. (NYSE:SKX)

Vanguard Group Inc. boosted its holdings in shares of Skechers U.S.A., Inc. (NYSE:SKX - Free Report) by 0.7% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 12,544,233 shares of the textile maker's stock after acquiring an additional 82,143 shares during the period. Vanguard Group Inc. owned about 8.31% of Skechers U.S.A. worth $843,474,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also added to or reduced their stakes in the company. Bank of New York Mellon Corp boosted its stake in shares of Skechers U.S.A. by 70.4% during the fourth quarter. Bank of New York Mellon Corp now owns 2,308,283 shares of the textile maker's stock valued at $155,209,000 after purchasing an additional 953,528 shares in the last quarter. Geode Capital Management LLC lifted its holdings in Skechers U.S.A. by 0.5% during the third quarter. Geode Capital Management LLC now owns 2,216,905 shares of the textile maker's stock worth $148,395,000 after buying an additional 11,026 shares during the period. Wellington Management Group LLP boosted 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 valued at $68,630,000 after acquiring an additional 287,939 shares in the last quarter. Vaughan Nelson Investment Management L.P. increased its holdings in shares of Skechers U.S.A. by 68.3% in the 4th quarter. Vaughan Nelson Investment Management L.P. now owns 623,745 shares of the textile maker's stock valued at $41,940,000 after acquiring an additional 253,045 shares during the period. Finally, Todd Asset Management LLC raised its position in shares of Skechers U.S.A. by 1.6% in the 4th quarter. Todd Asset Management LLC now owns 421,632 shares of the textile maker's stock worth $28,351,000 after acquiring an additional 6,821 shares in the last quarter. Hedge funds and other institutional investors own 79.96% of the company's stock.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on the company. Barclays dropped their price objective on 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. Stifel Nicolaus lowered their price target on shares of Skechers U.S.A. from $83.00 to $80.00 and set a "buy" rating on the stock in a report on Friday, February 7th. Raymond James reduced their price objective on shares of Skechers U.S.A. from $80.00 to $75.00 and set an "outperform" rating for the company in a research note on Friday, February 7th. Needham & Company LLC restated a "hold" rating on shares of Skechers U.S.A. in a research note on Friday, February 7th. Finally, Evercore ISI upped their price target on Skechers U.S.A. from $72.00 to $85.00 and gave the stock an "outperform" rating in a research report on Tuesday, January 28th. Three research analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $80.42.

Insiders Place Their Bets

In other Skechers U.S.A. news, CFO John M. Vandemore sold 5,112 shares of Skechers U.S.A. stock in a transaction dated Monday, March 3rd. The stock was sold at an average price of $60.76, for a total transaction of $310,605.12. Following the completion of the transaction, the chief financial officer now owns 83,328 shares in the company, valued at approximately $5,063,009.28. This trade represents a 5.78 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, COO David Weinberg sold 26,913 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 $1,635,233.88. Following the completion of the transaction, the chief operating officer now directly owns 44,637 shares of the company's stock, valued at approximately $2,712,144.12. This trade represents a 37.61 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 218,245 shares of company stock valued at $13,452,902. 24.75% of the stock is owned by insiders.

Skechers U.S.A. Stock Performance

Shares of NYSE SKX traded down $10.07 during mid-day trading on Thursday, hitting $48.96. The stock had a trading volume of 10,487,296 shares, compared to its average volume of 2,114,692. The firm has a market cap of $7.31 billion, a PE ratio of 11.80, a PEG 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 company has a 50 day moving average of $62.86 and a two-hundred day moving average of $64.92. Skechers U.S.A., Inc. has a twelve month low of $45.88 and a twelve month high of $78.85.

Skechers U.S.A. (NYSE:SKX - Get Free Report) last announced its quarterly earnings data on Thursday, February 6th. The textile maker reported $0.65 earnings per share for the quarter, missing analysts' consensus estimates 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%. Research analysts predict that Skechers U.S.A., Inc. will post 4.47 EPS for the current fiscal year.

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.