Principal Financial Group Inc. Sells 5,112 Shares of Skechers U.S.A., Inc. (NYSE:SKX)

Principal Financial Group Inc. decreased its position in Skechers U.S.A., Inc. (NYSE:SKX) by 1.7% during the 4th quarter, according to its most recent filing with the SEC. The institutional investor owned 302,131 shares of the textile maker’s stock after selling 5,112 shares during the period. Principal Financial Group Inc. owned about 0.20% of Skechers U.S.A. worth $20,315,000 as of its most recent filing with the SEC.

Other large investors have also recently bought and sold shares of the company. UMB Bank n.a. raised its holdings in shares of Skechers U.S.A. by 53.1% in the fourth quarter. UMB Bank n.a. now owns 689 shares of the textile maker’s stock valued at $46,000 after purchasing an additional 239 shares during the last quarter. Venturi Wealth Management LLC increased its stake in Skechers U.S.A. by 52.9% in the 3rd quarter. Venturi Wealth Management LLC now owns 864 shares of the textile maker’s stock valued at $58,000 after buying an additional 299 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. bought a new stake in Skechers U.S.A. during the 4th quarter worth about $65,000. Brooklyn Investment Group acquired a new position in shares of Skechers U.S.A. during the 3rd quarter worth about $67,000. Finally, Blue Trust Inc. grew its holdings in shares of Skechers U.S.A. by 778.1% in the 3rd quarter. Blue Trust Inc. now owns 1,001 shares of the textile maker’s stock valued at $69,000 after acquiring an additional 887 shares in the last quarter. Institutional investors and hedge funds own 79.96% of the company’s stock.

Analyst Upgrades and Downgrades

SKX has been the topic of several analyst reports. StockNews.com lowered Skechers U.S.A. from a “buy” rating to a “hold” rating in a report on Monday, February 10th. Evercore ISI upped their price objective on Skechers U.S.A. from $72.00 to $85.00 and gave the stock an “outperform” rating in a research note on Tuesday, January 28th. Raymond James cut their price objective on Skechers U.S.A. from $80.00 to $75.00 and set an “outperform” rating for the company in a report on Friday, February 7th. Piper Sandler assumed coverage on shares of Skechers U.S.A. in a report on Tuesday, December 10th. They set a “neutral” rating and a $65.00 target price on the stock. Finally, Stifel Nicolaus cut their price target on shares of Skechers U.S.A. from $83.00 to $80.00 and set a “buy” rating for the company in a research note on Friday, February 7th. Three research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. According to MarketBeat, Skechers U.S.A. presently has an average rating of “Moderate Buy” and a consensus target price of $81.25.

Skechers U.S.A. Stock Performance

NYSE SKX opened at $61.76 on Tuesday. Skechers U.S.A., Inc. has a 52-week low of $55.67 and a 52-week high of $78.85. The stock has a market cap of $9.32 billion, a PE ratio of 14.88, a P/E/G ratio of 1.11 and a beta of 1.19. The firm has a 50-day moving average of $69.33 and a 200-day moving average of $66.64. The company has a debt-to-equity ratio of 0.01, a quick ratio of 1.12 and a current ratio of 1.97.

Skechers U.S.A. (NYSE:SKX) last issued its quarterly earnings data on Thursday, February 6th. The textile maker reported $0.65 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.73 by ($0.08). Skechers U.S.A. had a return on equity of 13.73% and a net margin of 7.13%. On average, sell-side analysts anticipate that Skechers U.S.A., Inc. will post 4.47 EPS for the current year.

Insider Activity at Skechers U.S.A.

In other Skechers U.S.A. news, CEO Robert Greenberg sold 52,600 shares of Skechers U.S.A. stock in a transaction dated Wednesday, February 12th. The shares were sold at an average price of $62.72, for a total value of $3,299,072.00. Following the completion of the sale, the chief executive officer now owns 61,367 shares in the company, valued at $3,848,938.24. The trade was a 46.15 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, President Michael Greenberg sold 10,274 shares of the stock in a transaction that occurred on Tuesday, December 31st. The stock was sold at an average price of $67.48, for a total transaction of $693,289.52. Following the transaction, the president now owns 149,327 shares in the company, valued at approximately $10,076,585.96. The trade was a 6.44 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 119,139 shares of company stock worth $7,600,899 in the last ninety days. 24.75% of the stock is owned by company insiders.

About Skechers U.S.A.

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.