Norges Bank purchased a new position in shares of Skechers U.S.A., Inc. (NYSE:SKX – Free Report) during the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor purchased 1,206,185 shares of the textile maker’s stock, valued at approximately $75,194,000. Norges Bank owned 0.78% of Skechers U.S.A. as of its most recent filing with the SEC.
Other institutional investors have also added to or reduced their stakes in the company. Raymond James & Associates raised its stake in Skechers U.S.A. by 354.5% during the 4th quarter. Raymond James & Associates now owns 52,280 shares of the textile maker’s stock worth $3,259,000 after buying an additional 40,778 shares during the period. Lecap Asset Management Ltd. bought a new stake in Skechers U.S.A. during the 4th quarter worth approximately $1,798,000. Vaughan Nelson Investment Management L.P. increased its holdings in Skechers U.S.A. by 371.8% during the 4th quarter. Vaughan Nelson Investment Management L.P. now owns 758,469 shares of the textile maker’s stock worth $47,282,000 after purchasing an additional 597,702 shares in the last quarter. International Assets Investment Management LLC increased its holdings in Skechers U.S.A. by 13,753.3% during the 4th quarter. International Assets Investment Management LLC now owns 12,468 shares of the textile maker’s stock worth $777,000 after purchasing an additional 12,378 shares in the last quarter. Finally, Quadrant Capital Group LLC increased its holdings in Skechers U.S.A. by 29.0% during the 4th quarter. Quadrant Capital Group LLC now owns 2,683 shares of the textile maker’s stock worth $167,000 after purchasing an additional 603 shares in the last quarter. 79.96% of the stock is owned by institutional investors and hedge funds.
Wall Street Analysts Forecast Growth
A number of analysts have commented on the company. Bank of America assumed coverage on Skechers U.S.A. in a report on Friday, March 8th. They set a “neutral” rating and a $67.00 price objective for the company. Evercore ISI decreased their price objective on Skechers U.S.A. from $73.00 to $68.00 and set an “outperform” rating for the company in a report on Wednesday, April 17th. Wedbush reaffirmed an “outperform” rating and set a $76.00 price target on shares of Skechers U.S.A. in a research report on Friday, May 17th. TD Cowen increased their price target on Skechers U.S.A. from $70.00 to $74.00 and gave the company a “buy” rating in a research report on Wednesday, March 6th. Finally, Barclays began coverage on Skechers U.S.A. in a research report on Monday, April 1st. They set an “overweight” rating and a $71.00 price target for the company. Two analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $66.83.
Read Our Latest Analysis on Skechers U.S.A.
Insider Transactions at Skechers U.S.A.
In other news, COO David Weinberg sold 20,226 shares of the firm’s stock in a transaction on Friday, March 15th. The stock was sold at an average price of $61.11, for a total value of $1,236,010.86. Following the completion of the transaction, the chief operating officer now directly owns 99,655 shares of the company’s stock, valued at $6,089,917.05. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, CEO Robert Greenberg sold 30,339 shares of the firm’s stock in a transaction on Friday, March 15th. The stock was sold at an average price of $61.11, for a total value of $1,854,016.29. Following the completion of the transaction, the chief executive officer now directly owns 132,783 shares of the company’s stock, valued at $8,114,369.13. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, COO David Weinberg sold 20,226 shares of the firm’s stock in a transaction on Friday, March 15th. The stock was sold at an average price of $61.11, for a total value of $1,236,010.86. Following the completion of the transaction, the chief operating officer now directly owns 99,655 shares of the company’s stock, valued at $6,089,917.05. The disclosure for this sale can be found here. Insiders sold 81,914 shares of company stock valued at $5,005,765 over the last three months. Company insiders own 24.75% of the company’s stock.
Skechers U.S.A. Stock Performance
NYSE:SKX opened at $68.29 on Monday. The company has a debt-to-equity ratio of 0.02, a current ratio of 2.39 and a quick ratio of 1.56. The business has a fifty day simple moving average of $62.48 and a two-hundred day simple moving average of $60.87. Skechers U.S.A., Inc. has a 1 year low of $45.58 and a 1 year high of $69.80. The company has a market capitalization of $10.42 billion, a P/E ratio of 17.97, a P/E/G ratio of 1.20 and a beta of 1.29.
Skechers U.S.A. (NYSE:SKX – Get Free Report) last released its earnings results on Thursday, April 25th. The textile maker reported $1.33 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.10 by $0.23. Skechers U.S.A. had a return on equity of 13.56% and a net margin of 7.17%. The business had revenue of $2.25 billion during the quarter, compared to the consensus estimate of $2.20 billion. During the same period last year, the business posted $1.02 earnings per share. The business’s revenue for the quarter was up 12.5% on a year-over-year basis. On average, analysts expect that Skechers U.S.A., Inc. will post 4.06 earnings per share for the current 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.
See Also
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