Kestra Private Wealth Services LLC Purchases 2,405 Shares of Skechers U.S.A., Inc. (NYSE:SKX)

Kestra Private Wealth Services LLC raised its position in Skechers U.S.A., Inc. (NYSE:SKX) by 58.7% during the fourth quarter, according to its most recent filing with the SEC. The firm owned 6,501 shares of the textile maker’s stock after purchasing an additional 2,405 shares during the period. Kestra Private Wealth Services LLC’s holdings in Skechers U.S.A. were worth $437,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. Pacer Advisors Inc. lifted its position in shares of Skechers U.S.A. by 5,780.6% in the 3rd quarter. Pacer Advisors Inc. now owns 2,639,390 shares of the textile maker’s stock worth $176,628,000 after purchasing an additional 2,594,507 shares during the period. Geode Capital Management LLC lifted its position in shares of Skechers U.S.A. by 0.5% in the 3rd quarter. Geode Capital Management LLC now owns 2,216,905 shares of the textile maker’s stock worth $148,395,000 after purchasing an additional 11,026 shares during the period. Charles Schwab Investment Management Inc. lifted its position in shares of Skechers U.S.A. by 1.3% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,316,882 shares of the textile maker’s stock worth $88,126,000 after purchasing an additional 17,429 shares during the period. Wellington Management Group LLP lifted its position in shares of Skechers U.S.A. by 39.0% in the 3rd quarter. Wellington Management Group LLP now owns 1,025,556 shares of the textile maker’s stock worth $68,630,000 after purchasing an additional 287,939 shares during the period. Finally, Loomis Sayles & Co. L P lifted its position in shares of Skechers U.S.A. by 7.1% in the 3rd quarter. Loomis Sayles & Co. L P now owns 752,067 shares of the textile maker’s stock worth $50,328,000 after purchasing an additional 49,734 shares during the period. Institutional investors and hedge funds own 79.96% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on SKX. Stifel Nicolaus dropped 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 research report on Friday, February 7th. TD Cowen boosted their target price on shares of Skechers U.S.A. from $88.00 to $93.00 and gave the company a “buy” rating in a research report on Wednesday, January 8th. Morgan Stanley boosted their target price on shares of Skechers U.S.A. from $81.00 to $84.00 and gave the company an “overweight” rating in a research report on Friday, October 25th. Bank of America dropped their target price on shares of Skechers U.S.A. from $81.00 to $80.00 and set a “buy” rating on the stock in a research report on Friday, October 25th. Finally, Needham & Company LLC reiterated a “hold” rating on shares of Skechers U.S.A. in a research report on Friday, February 7th. Three analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $81.25.

Skechers U.S.A. Stock Performance

Shares of SKX stock opened at $63.99 on Monday. The firm has a market capitalization of $9.66 billion, a PE ratio of 15.42, a price-to-earnings-growth ratio of 0.95 and a beta of 1.19. The firm has a fifty day simple moving average of $70.02 and a two-hundred day simple moving average of $66.47. The company has a current ratio of 1.96, a quick ratio of 1.25 and a debt-to-equity ratio of 0.01. Skechers U.S.A., Inc. has a 12 month low of $55.67 and a 12 month high of $78.85.

Skechers U.S.A. (NYSE:SKX) last announced its quarterly earnings results 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 13.81%. Analysts forecast that Skechers U.S.A., Inc. will post 4.79 EPS for the current fiscal year.

Insider Transactions at Skechers U.S.A.

In other news, COO David Weinberg sold 8,219 shares of the company’s stock in a transaction on Tuesday, December 31st. The shares were sold at an average price of $67.48, for a total value of $554,618.12. Following the completion of the sale, the chief operating officer now owns 122,211 shares in the company, valued at $8,246,798.28. This represents a 6.30 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CEO Robert Greenberg sold 52,600 shares of the stock in a transaction dated Wednesday, February 12th. The shares were sold at an average price of $62.72, for a total transaction of $3,299,072.00. Following the transaction, the chief executive officer now owns 61,367 shares of the company’s stock, valued at approximately $3,848,938.24. The trade was a 46.15 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 107,093 shares of company stock worth $6,804,900 in the last quarter. 24.75% of the stock is currently owned by corporate insiders.

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.