Blue Trust Inc. Grows Position in Skechers U.S.A., Inc. (NYSE:SKX)

Blue Trust Inc. grew its stake in Skechers U.S.A., Inc. (NYSE:SKX) by 30.4% during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,305 shares of the textile maker’s stock after acquiring an additional 304 shares during the quarter. Blue Trust Inc.’s holdings in Skechers U.S.A. were worth $87,000 at the end of the most recent quarter.

A number of other large investors have also made changes to their positions in the stock. Pacer Advisors Inc. boosted its position in Skechers U.S.A. by 5,780.6% during the third quarter. Pacer Advisors Inc. now owns 2,639,390 shares of the textile maker’s stock worth $176,628,000 after acquiring an additional 2,594,507 shares during the last quarter. Commerce Bank lifted its stake in shares of Skechers U.S.A. by 949.5% during the 3rd quarter. Commerce Bank now owns 467,774 shares of the textile maker’s stock worth $31,303,000 after purchasing an additional 423,204 shares during the period. Coronation Fund Managers Ltd. boosted its holdings in shares of Skechers U.S.A. by 378.6% during the third quarter. Coronation Fund Managers Ltd. now owns 498,837 shares of the textile maker’s stock worth $33,382,000 after purchasing an additional 394,618 shares during the last quarter. Wellington Management Group LLP grew its position in shares of Skechers U.S.A. by 39.0% in the third quarter. Wellington Management Group LLP now owns 1,025,556 shares of the textile maker’s stock valued at $68,630,000 after purchasing an additional 287,939 shares during the period. Finally, Adams Diversified Equity Fund Inc. acquired a new position in Skechers U.S.A. in the third quarter valued at $16,790,000. Institutional investors and hedge funds own 79.96% of the company’s stock.

Insider Transactions at Skechers U.S.A.

In related news, President Michael Greenberg sold 10,274 shares of Skechers U.S.A. stock in a transaction on Tuesday, December 31st. The shares were sold at an average price of $67.48, for a total transaction of $693,289.52. Following the sale, the president now owns 149,327 shares of the company’s stock, valued at $10,076,585.96. The trade was a 6.44 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, COO David Weinberg sold 8,219 shares of the company’s stock in a transaction dated Tuesday, December 31st. The shares were sold at an average price of $67.48, for a total transaction of $554,618.12. Following the completion of the transaction, the chief operating officer now directly owns 122,211 shares of the company’s stock, valued at approximately $8,246,798.28. The trade was a 6.30 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 24.75% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have issued reports on the company. Bank of America decreased their price target on Skechers U.S.A. from $81.00 to $80.00 and set a “buy” rating on the stock in a research note on Friday, October 25th. TD Cowen raised their target price on shares of 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. Deutsche Bank Aktiengesellschaft upped their price target on shares of Skechers U.S.A. from $83.00 to $84.00 and gave the stock a “buy” rating in a research report on Friday, October 25th. Piper Sandler started coverage on shares of Skechers U.S.A. in a report on Tuesday, December 10th. They issued a “neutral” rating and a $65.00 price target on the stock. Finally, Needham & Company LLC restated a “hold” rating on shares of Skechers U.S.A. in a report on Friday. Two equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $81.50.

Skechers U.S.A. Trading Down 12.6 %

NYSE:SKX opened at $66.06 on Friday. Skechers U.S.A., Inc. has a 12 month low of $55.67 and a 12 month high of $78.85. The business’s 50-day moving average is $70.51 and its two-hundred day moving average is $66.46. The company has a debt-to-equity ratio of 0.01, a current ratio of 1.96 and a quick ratio of 1.25. The firm has a market capitalization of $9.97 billion, a PE ratio of 16.27, a price-to-earnings-growth ratio of 0.92 and a beta of 1.19.

Skechers U.S.A. (NYSE:SKX) last announced its earnings results on Thursday, February 6th. The textile maker reported $0.65 EPS for the quarter, missing the consensus estimate of $0.73 by ($0.08). Skechers U.S.A. had a net margin of 7.19% and a return on equity of 13.71%. Research analysts predict that Skechers U.S.A., Inc. will post 4.24 earnings per share for the current fiscal 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.