Blue Trust Inc. Has $81,000 Stock Holdings in Skechers U.S.A., Inc. (NYSE:SKX)

Blue Trust Inc. increased its position in shares of Skechers U.S.A., Inc. (NYSE:SKX) by 20.7% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,208 shares of the textile maker’s stock after buying an additional 207 shares during the quarter. Blue Trust Inc.’s holdings in Skechers U.S.A. were worth $81,000 at the end of the most recent quarter.

A number of other institutional investors have also added to or reduced their stakes in SKX. Raymond James & Associates raised its stake in shares of Skechers U.S.A. by 192.7% in the third quarter. Raymond James & Associates now owns 52,570 shares of the textile maker’s stock valued at $3,518,000 after acquiring an additional 34,612 shares during the last quarter. Allspring Global Investments Holdings LLC raised its stake in shares of Skechers U.S.A. by 22.7% in the third quarter. Allspring Global Investments Holdings LLC now owns 46,288 shares of the textile maker’s stock valued at $3,098,000 after acquiring an additional 8,564 shares during the last quarter. Private Advisor Group LLC bought a new position in shares of Skechers U.S.A. in the third quarter valued at approximately $289,000. Tectonic Advisors LLC raised its stake in shares of Skechers U.S.A. by 9.2% in the third quarter. Tectonic Advisors LLC now owns 5,494 shares of the textile maker’s stock valued at $368,000 after acquiring an additional 463 shares during the last quarter. Finally, State of Alaska Department of Revenue raised its stake in shares of Skechers U.S.A. by 165.9% in the third quarter. State of Alaska Department of Revenue now owns 38,535 shares of the textile maker’s stock valued at $2,578,000 after acquiring an additional 24,040 shares during the last quarter. 79.96% of the stock is owned by institutional investors and hedge funds.

Skechers U.S.A. Stock Down 4.0 %

SKX opened at $63.01 on Monday. The company has a quick ratio of 1.12, a current ratio of 1.97 and a debt-to-equity ratio of 0.01. The stock has a market cap of $9.51 billion, a price-to-earnings ratio of 15.18, a PEG ratio of 1.11 and a beta of 1.19. Skechers U.S.A., Inc. has a twelve month low of $55.67 and a twelve month high of $78.85. The company’s 50-day moving average price is $69.46 and its two-hundred day moving average price is $66.65.

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 13.73%. As a group, equities analysts expect that Skechers U.S.A., Inc. will post 4.47 earnings per share for the current year.

Insiders Place Their Bets

In related news, CEO Robert Greenberg sold 52,600 shares of the company’s stock in a transaction on Wednesday, February 12th. The stock was sold at an average price of $62.72, for a total value of $3,299,072.00. Following the sale, the chief executive officer now directly owns 61,367 shares of the company’s stock, valued at $3,848,938.24. This represents a 46.15 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, COO David Weinberg sold 8,219 shares of the stock in a transaction on Tuesday, December 31st. The stock was 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 directly owns 122,211 shares in the company, valued at approximately $8,246,798.28. This represents a 6.30 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 119,139 shares of company stock valued at $7,600,899 over the last three months. Insiders own 24.75% of the company’s stock.

Analyst Ratings Changes

SKX has been the subject of several research analyst reports. TD Cowen boosted their price objective 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. Barclays dropped their price objective on shares of Skechers U.S.A. from $80.00 to $77.00 and set an “overweight” rating for the company in a research report on Monday, February 10th. StockNews.com cut shares of Skechers U.S.A. from a “buy” rating to a “hold” rating in a research report on Monday, February 10th. Needham & Company LLC restated a “hold” rating on shares of Skechers U.S.A. in a research report on Friday, February 7th. Finally, Evercore ISI boosted their price objective on shares of Skechers U.S.A. from $72.00 to $85.00 and gave the stock an “outperform” rating in a research report on Tuesday, January 28th. Three equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $81.25.

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.