National Bank of Canada FI boosted its holdings in shares of Skechers U.S.A., Inc. (NYSE:SKX – Free Report) by 7.1% during the 4th quarter, Holdings Channel reports. The institutional investor owned 3,035 shares of the textile maker’s stock after buying an additional 200 shares during the period. National Bank of Canada FI’s holdings in Skechers U.S.A. were worth $188,000 as of its most recent SEC filing.
Other hedge funds have also recently bought and sold shares of the company. Natixis Advisors L.P. grew its holdings in shares of Skechers U.S.A. by 8.6% during the 4th quarter. Natixis Advisors L.P. now owns 97,052 shares of the textile maker’s stock valued at $6,048,000 after acquiring an additional 7,685 shares in the last quarter. Victory Capital Management Inc. grew its stake in Skechers U.S.A. by 1.7% in the fourth quarter. Victory Capital Management Inc. now owns 42,490 shares of the textile maker’s stock valued at $2,649,000 after purchasing an additional 720 shares in the last quarter. Thompson Davis & CO. Inc. purchased a new position in Skechers U.S.A. in the fourth quarter valued at about $271,000. Jackson Creek Investment Advisors LLC raised its stake in shares of Skechers U.S.A. by 58.8% during the 4th quarter. Jackson Creek Investment Advisors LLC now owns 15,836 shares of the textile maker’s stock worth $987,000 after purchasing an additional 5,866 shares in the last quarter. Finally, Intact Investment Management Inc. lifted its holdings in shares of Skechers U.S.A. by 50.0% during the 4th quarter. Intact Investment Management Inc. now owns 5,400 shares of the textile maker’s stock valued at $337,000 after buying an additional 1,800 shares during the last quarter. 79.96% of the stock is owned by hedge funds and other institutional investors.
Skechers U.S.A. Trading Up 0.2 %
Shares of SKX stock opened at $68.41 on Friday. The firm has a market capitalization of $10.43 billion, a P/E ratio of 18.00, a price-to-earnings-growth ratio of 1.20 and a beta of 1.29. Skechers U.S.A., Inc. has a 1 year low of $45.58 and a 1 year high of $69.80. The firm’s fifty day simple moving average is $61.80 and its 200 day simple moving average is $60.01. The company has a current ratio of 2.39, a quick ratio of 1.56 and a debt-to-equity ratio of 0.02.
Skechers U.S.A. (NYSE:SKX – Get Free Report) last posted its quarterly earnings results on Thursday, April 25th. The textile maker reported $1.33 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.10 by $0.23. The company had revenue of $2.25 billion for the quarter, compared to analyst estimates of $2.20 billion. Skechers U.S.A. had a net margin of 7.17% and a return on equity of 13.56%. The business’s quarterly revenue was up 12.5% on a year-over-year basis. During the same period last year, the business posted $1.02 EPS. As a group, sell-side analysts predict that Skechers U.S.A., Inc. will post 4.06 EPS for the current year.
Analyst Upgrades and Downgrades
A number of analysts have issued reports on the stock. Stifel Nicolaus reduced their target price on shares of Skechers U.S.A. from $72.00 to $70.00 and set a “buy” rating for the company in a research note on Friday, February 2nd. TD Cowen increased their target price on shares of Skechers U.S.A. from $70.00 to $74.00 and gave the stock a “buy” rating in a research report on Wednesday, March 6th. Raymond James reduced their price target on Skechers U.S.A. from $68.00 to $66.00 and set an “outperform” rating for the company in a research report on Monday, February 5th. 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 on the stock. Finally, Evercore ISI reduced their target price 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. Two analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $66.83.
Check Out Our Latest Report on Skechers U.S.A.
Insider Buying and Selling at Skechers U.S.A.
In other news, COO David Weinberg sold 20,226 shares of Skechers U.S.A. stock in a transaction that occurred on Friday, March 15th. The stock was sold at an average price of $61.11, for a total transaction of $1,236,010.86. Following the sale, the chief operating officer now owns 99,655 shares of the company’s stock, valued at approximately $6,089,917.05. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other Skechers U.S.A. news, President Michael Greenberg sold 25,282 shares of the firm’s stock in a transaction dated Friday, March 15th. The shares were sold at an average price of $61.11, for a total transaction of $1,544,983.02. Following the completion of the transaction, the president now owns 123,441 shares in the company, valued at $7,543,479.51. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, COO David Weinberg sold 20,226 shares of the company’s stock in a transaction that occurred on Friday, March 15th. The shares were sold at an average price of $61.11, for a total value of $1,236,010.86. Following the completion of the sale, the chief operating officer now owns 99,655 shares in the company, valued at $6,089,917.05. The disclosure for this sale can be found here. Insiders sold a total of 81,914 shares of company stock valued at $5,005,765 in the last quarter. Corporate insiders own 24.75% of the company’s stock.
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.
Further Reading
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