Federated Hermes Inc. Lowers Holdings in Skechers U.S.A., Inc. (NYSE:SKX)

Federated Hermes Inc. reduced its position in shares of Skechers U.S.A., Inc. (NYSE:SKX) by 10.6% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 15,199 shares of the textile maker’s stock after selling 1,803 shares during the quarter. Federated Hermes Inc.’s holdings in Skechers U.S.A. were worth $948,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also bought and sold shares of the company. Janney Capital Management LLC increased its stake in shares of Skechers U.S.A. by 2.8% during the third quarter. Janney Capital Management LLC now owns 8,646 shares of the textile maker’s stock valued at $423,000 after buying an additional 233 shares during the period. Inspire Investing LLC increased its position in Skechers U.S.A. by 4.5% during the 3rd quarter. Inspire Investing LLC now owns 6,230 shares of the textile maker’s stock valued at $305,000 after purchasing an additional 268 shares during the period. SageView Advisory Group LLC raised its holdings in shares of Skechers U.S.A. by 3.0% in the 3rd quarter. SageView Advisory Group LLC now owns 9,428 shares of the textile maker’s stock valued at $462,000 after purchasing an additional 276 shares in the last quarter. Teacher Retirement System of Texas lifted its position in shares of Skechers U.S.A. by 0.7% in the 3rd quarter. Teacher Retirement System of Texas now owns 48,476 shares of the textile maker’s stock worth $2,373,000 after purchasing an additional 326 shares during the period. Finally, Cascade Investment Advisors Inc. boosted its stake in shares of Skechers U.S.A. by 1.9% during the fourth quarter. Cascade Investment Advisors Inc. now owns 19,895 shares of the textile maker’s stock valued at $1,240,000 after purchasing an additional 370 shares in the last quarter. 79.96% of the stock is owned by institutional investors.

Skechers U.S.A. Trading Down 0.9 %

NYSE SKX opened at $65.48 on Thursday. Skechers U.S.A., Inc. has a 12-month low of $45.58 and a 12-month high of $69.07. The company has a fifty day simple moving average of $60.15 and a two-hundred day simple moving average of $58.47. The company has a current ratio of 2.39, a quick ratio of 1.56 and a debt-to-equity ratio of 0.02. The stock has a market cap of $10.04 billion, a P/E ratio of 17.23, a P/E/G ratio of 1.16 and a beta of 1.32.

Skechers U.S.A. (NYSE:SKX) last issued its earnings results on Thursday, April 25th. The textile maker reported $1.33 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.10 by $0.23. The company had revenue of $2.25 billion during the quarter, compared to analyst estimates of $2.20 billion. Skechers U.S.A. had a return on equity of 13.56% and a net margin of 7.17%. The firm’s quarterly revenue was up 12.5% on a year-over-year basis. During the same quarter last year, the business posted $1.02 EPS. On average, analysts forecast that Skechers U.S.A., Inc. will post 4.07 earnings per share for the current year.

Insider Buying and Selling

In related news, CEO Robert Greenberg sold 30,339 shares of the stock in a transaction that occurred on Friday, March 15th. The shares were sold at an average price of $61.11, for a total value of $1,854,016.29. Following the transaction, the chief executive officer now owns 132,783 shares in the company, valued at approximately $8,114,369.13. The sale was disclosed in a filing with the SEC, which is available through this link. In other Skechers U.S.A. news, CEO Robert Greenberg sold 30,339 shares of the company’s stock in a transaction on Friday, March 15th. The shares were sold at an average price of $61.11, for a total value of $1,854,016.29. Following the sale, the chief executive officer now directly owns 132,783 shares of the company’s stock, valued at $8,114,369.13. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, President Michael Greenberg sold 25,282 shares of Skechers U.S.A. stock in a transaction dated Friday, March 15th. The shares were sold at an average price of $61.11, for a total value of $1,544,983.02. Following the transaction, the president now owns 123,441 shares of the company’s stock, valued at approximately $7,543,479.51. The disclosure for this sale can be found here. Insiders sold 254,875 shares of company stock valued at $15,021,192 over the last quarter. 24.75% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on SKX shares. Bank of America assumed coverage on shares of Skechers U.S.A. in a research note on Friday, March 8th. They issued a “neutral” rating and a $67.00 price objective for the company. Barclays started coverage on Skechers U.S.A. in a research report on Monday, April 1st. They set an “overweight” rating and a $71.00 price objective on the stock. Monness Crespi & Hardt boosted their target price on shares of Skechers U.S.A. from $60.00 to $72.00 and gave the stock a “buy” rating in a report on Thursday, January 18th. Evercore ISI lowered their price target on shares of Skechers U.S.A. from $73.00 to $68.00 and set an “outperform” rating on the stock in a report on Wednesday, April 17th. Finally, Raymond James cut their price objective on shares of Skechers U.S.A. from $68.00 to $66.00 and set an “outperform” rating on the stock in a research report on Monday, February 5th. Two analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. According to data from MarketBeat.com, Skechers U.S.A. presently has an average rating of “Moderate Buy” and a consensus price target of $66.83.

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.