Vanguard Group Inc. Acquires 82,143 Shares of Skechers U.S.A., Inc. (NYSE:SKX)

Vanguard Group Inc. raised 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 filing with the Securities and Exchange Commission. The fund owned 12,544,233 shares of the textile maker's stock after purchasing an additional 82,143 shares during the period. Vanguard Group Inc. owned approximately 8.31% of Skechers U.S.A. worth $843,474,000 at the end of the most recent quarter.

A number of other hedge funds have also bought and sold shares of SKX. Bank of New York Mellon Corp raised its stake in shares of Skechers U.S.A. by 70.4% in the fourth quarter. Bank of New York Mellon Corp now owns 2,308,283 shares of the textile maker's stock worth $155,209,000 after buying an additional 953,528 shares during the period. Geode Capital Management LLC increased its stake 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 acquiring an additional 11,026 shares during the last quarter. Wellington Management Group LLP raised its holdings 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 buying an additional 287,939 shares during the period. Vaughan Nelson Investment Management L.P. grew its holdings in Skechers U.S.A. by 68.3% during 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 purchasing an additional 253,045 shares during the last quarter. Finally, Todd Asset Management LLC grew its position in 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 valued at $28,351,000 after acquiring an additional 6,821 shares during the last quarter. Hedge funds and other institutional investors own 79.96% of the company's stock.

Remove Ads

Insider Activity at Skechers U.S.A.

In other news, CEO Robert Greenberg sold 52,600 shares of the business's stock in a transaction dated Wednesday, February 12th. The stock was sold at an average price of $62.72, for a total transaction of $3,299,072.00. Following the completion of the transaction, the chief executive officer now directly owns 61,367 shares in the company, valued at approximately $3,848,938.24. The trade was a 46.15 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, COO David Weinberg sold 36,000 shares of the company's stock in a transaction on Wednesday, February 12th. The shares were sold at an average price of $62.72, for a total transaction of $2,257,920.00. Following the completion of the sale, the chief operating officer now owns 54,499 shares of the company's stock, valued at approximately $3,418,177.28. This represents a 39.78 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 218,245 shares of company stock worth $13,452,902 in the last 90 days. 24.75% of the stock is owned by company insiders.

Skechers U.S.A. Stock Performance

SKX stock traded up $0.69 on Tuesday, reaching $57.47. The company's stock had a trading volume of 2,033,943 shares, compared to its average volume of 2,407,562. The firm has a fifty day moving average of $64.01 and a two-hundred day moving average of $65.14. The company has a market capitalization of $8.58 billion, a P/E ratio of 13.85, a price-to-earnings-growth ratio of 1.11 and a beta of 1.21. The company has a debt-to-equity ratio of 0.01, a current ratio of 1.97 and a quick ratio of 1.12. Skechers U.S.A., Inc. has a 52 week low of $53.79 and a 52 week high of $78.85.

Skechers U.S.A. (NYSE:SKX - Get Free Report) last posted its quarterly earnings data on Thursday, February 6th. The textile maker reported $0.65 EPS 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%. As a group, analysts predict that Skechers U.S.A., Inc. will post 4.47 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on SKX shares. Evercore ISI boosted their price target on shares of Skechers U.S.A. from $72.00 to $85.00 and gave the company an "outperform" rating in a report on Tuesday, January 28th. StockNews.com lowered Skechers U.S.A. from a "buy" rating to a "hold" rating in a research note on Monday, February 10th. UBS Group dropped their price objective on shares of Skechers U.S.A. from $92.00 to $90.00 and set a "buy" rating on the stock in a report on Friday, February 7th. Barclays dropped their price objective on shares of Skechers U.S.A. from $80.00 to $77.00 and set an "overweight" rating on the stock in a research note on Monday, February 10th. Finally, Stifel Nicolaus lowered their price target on Skechers U.S.A. from $83.00 to $80.00 and set a "buy" rating on the stock in a research report on Friday, February 7th. Three equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. According to data from MarketBeat, Skechers U.S.A. has an average rating of "Moderate Buy" and a consensus target price of $80.42.

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.