Mackenzie Financial Corp Trims Stock Position in Skechers U.S.A., Inc. (NYSE:SKX)

Mackenzie Financial Corp trimmed its stake in Skechers U.S.A., Inc. (NYSE:SKX) by 1.4% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 348,036 shares of the textile maker’s stock after selling 4,870 shares during the period. Mackenzie Financial Corp owned 0.23% of Skechers U.S.A. worth $21,697,000 as of its most recent SEC filing.

A number of other large investors have also recently modified their holdings of SKX. Advisors Asset Management Inc. purchased a new stake in Skechers U.S.A. in the first quarter worth $25,000. Fred Alger Management LLC purchased a new stake in shares of Skechers U.S.A. in the 1st quarter worth about $26,000. Huntington National Bank increased its stake in shares of Skechers U.S.A. by 861.7% in the 3rd quarter. Huntington National Bank now owns 577 shares of the textile maker’s stock worth $28,000 after acquiring an additional 517 shares in the last quarter. DekaBank Deutsche Girozentrale purchased a new position in Skechers U.S.A. during the 3rd quarter valued at about $31,000. Finally, Lazard Asset Management LLC boosted its stake in Skechers U.S.A. by 117.7% during the third quarter. Lazard Asset Management LLC now owns 651 shares of the textile maker’s stock worth $31,000 after acquiring an additional 352 shares in the last quarter. Institutional investors own 79.96% of the company’s stock.

Insider Activity

In related news, CEO Robert Greenberg sold 99,139 shares of the business’s stock in a transaction that occurred on Thursday, February 8th. The shares were sold at an average price of $57.87, for a total transaction of $5,737,173.93. Following the completion of the sale, the chief executive officer now directly owns 196,050 shares in the company, valued at $11,345,413.50. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In related news, CEO Robert Greenberg sold 99,139 shares of the firm’s stock in a transaction on Thursday, February 8th. The stock was sold at an average price of $57.87, for a total value of $5,737,173.93. Following the transaction, the chief executive officer now directly owns 196,050 shares of the company’s stock, valued at approximately $11,345,413.50. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, EVP Mark A. Nason sold 6,432 shares of the business’s stock in a transaction dated Friday, February 9th. The shares were sold at an average price of $58.83, for a total value of $378,394.56. Following the sale, the executive vice president now directly owns 34,023 shares of the company’s stock, valued at approximately $2,001,573.09. The disclosure for this sale can be found here. Insiders sold 254,875 shares of company stock valued at $15,021,192 in the last quarter. 24.79% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

SKX has been the subject of a number of analyst reports. Barclays initiated coverage on shares of Skechers U.S.A. in a research note on Monday, April 1st. They set an “overweight” rating and a $71.00 target price for the company. Raymond James cut their target price on Skechers U.S.A. from $68.00 to $66.00 and set an “outperform” rating on the stock in a research note on Monday, February 5th. Stifel Nicolaus lowered their price target on Skechers U.S.A. from $72.00 to $70.00 and set a “buy” rating for the company in a research report on Friday, February 2nd. Evercore ISI cut their price objective on shares of Skechers U.S.A. from $73.00 to $68.00 and set an “outperform” rating on the stock in a research report on Wednesday. Finally, TD Cowen lifted 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 report on Wednesday, March 6th. Two research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. According to MarketBeat.com, Skechers U.S.A. currently has a consensus rating of “Moderate Buy” and an average target price of $66.17.

Skechers U.S.A. Stock Up 0.6 %

Shares of Skechers U.S.A. stock opened at $56.86 on Friday. The company has a quick ratio of 1.46, a current ratio of 2.38 and a debt-to-equity ratio of 0.06. Skechers U.S.A., Inc. has a twelve month low of $45.58 and a twelve month high of $65.17. The company has a market cap of $8.72 billion, a price-to-earnings ratio of 16.29, a price-to-earnings-growth ratio of 1.02 and a beta of 1.32. The company’s 50 day moving average is $59.72 and its 200 day moving average is $57.57.

Skechers U.S.A. (NYSE:SKX) last released its quarterly earnings results on Thursday, February 1st. The textile maker reported $0.56 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.52 by $0.04. The firm had revenue of $1.96 billion for the quarter, compared to the consensus estimate of $2.03 billion. Skechers U.S.A. had a return on equity of 12.89% and a net margin of 6.82%. The company’s revenue for the quarter was up 4.4% on a year-over-year basis. During the same period last year, the business posted $0.48 EPS. Research analysts anticipate that Skechers U.S.A., Inc. will post 3.82 EPS for the current year.

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.