Vanguard Personalized Indexing Management LLC Grows Stock Holdings in Skechers U.S.A., Inc. (NYSE:SKX)

Vanguard Personalized Indexing Management LLC increased its stake in shares of Skechers U.S.A., Inc. (NYSE:SKX) by 134.1% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 13,016 shares of the textile maker’s stock after purchasing an additional 7,457 shares during the period. Vanguard Personalized Indexing Management LLC’s holdings in Skechers U.S.A. were worth $811,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also recently made changes to their positions in the company. Raymond James & Associates increased its holdings in Skechers U.S.A. by 354.5% during the fourth quarter. Raymond James & Associates now owns 52,280 shares of the textile maker’s stock valued at $3,259,000 after buying an additional 40,778 shares during the last quarter. Lecap Asset Management Ltd. purchased a new stake in Skechers U.S.A. during the fourth quarter valued at approximately $1,798,000. Vaughan Nelson Investment Management L.P. increased its holdings in Skechers U.S.A. by 371.8% during the fourth quarter. Vaughan Nelson Investment Management L.P. now owns 758,469 shares of the textile maker’s stock valued at $47,282,000 after buying an additional 597,702 shares during the last quarter. International Assets Investment Management LLC increased its holdings in Skechers U.S.A. by 13,753.3% during the fourth quarter. International Assets Investment Management LLC now owns 12,468 shares of the textile maker’s stock valued at $777,000 after buying an additional 12,378 shares during the last quarter. Finally, Envestnet Asset Management Inc. increased its holdings in Skechers U.S.A. by 56.8% during the third quarter. Envestnet Asset Management Inc. now owns 96,433 shares of the textile maker’s stock valued at $4,720,000 after buying an additional 34,926 shares during the last quarter. 79.96% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of analysts have commented on the stock. Barclays assumed coverage on shares of Skechers U.S.A. in a report on Monday, April 1st. They set an “overweight” rating and a $71.00 target price for the company. Bank of America assumed coverage on shares of Skechers U.S.A. in a research report on Friday, March 8th. They issued a “neutral” rating and a $67.00 price target for the company. Stifel Nicolaus dropped their price target on shares of 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. TD Cowen upped their price target on shares of Skechers U.S.A. from $70.00 to $74.00 and gave the stock a “buy” rating in a research report on Wednesday, March 6th. Finally, Raymond James dropped their price target on shares of Skechers U.S.A. from $68.00 to $66.00 and set an “outperform” rating for the company in a research report on Monday, February 5th. Two analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $66.83.

Insider Buying and Selling at Skechers U.S.A.

In other Skechers U.S.A. news, President Michael Greenberg sold 25,282 shares of the stock in a transaction on Friday, March 15th. The shares were sold at an average price of $61.11, for a total transaction of $1,544,983.02. Following the completion of the transaction, the president now owns 123,441 shares in the company, valued at $7,543,479.51. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other news, President Michael Greenberg sold 25,282 shares of the stock in a transaction on Friday, March 15th. The shares were sold at an average price of $61.11, for a total value of $1,544,983.02. Following the sale, the president now owns 123,441 shares of the company’s stock, valued at $7,543,479.51. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, COO David Weinberg sold 20,226 shares of the stock in a transaction on Friday, March 15th. The shares were sold at an average price of $61.11, for a total transaction of $1,236,010.86. Following the completion of the sale, the chief operating officer now directly owns 99,655 shares in the company, valued at approximately $6,089,917.05. The disclosure for this sale can be found here. Insiders sold 81,914 shares of company stock worth $5,005,765 over the last 90 days. 24.75% of the stock is owned by insiders.

Skechers U.S.A. Price Performance

SKX stock opened at $68.40 on Wednesday. Skechers U.S.A., Inc. has a 52 week low of $45.58 and a 52 week high of $69.80. The company has a quick ratio of 1.56, a current ratio of 2.39 and a debt-to-equity ratio of 0.02. The company has a fifty day simple moving average of $62.10 and a two-hundred day simple moving average of $60.49. The firm has a market capitalization of $10.43 billion, a P/E ratio of 18.00, a price-to-earnings-growth ratio of 1.20 and a beta of 1.29.

Skechers U.S.A. (NYSE:SKX) last released its quarterly earnings data on Thursday, April 25th. The textile maker reported $1.33 EPS for the quarter, beating the consensus estimate of $1.10 by $0.23. Skechers U.S.A. had a net margin of 7.17% and a return on equity of 13.56%. The business had revenue of $2.25 billion during the quarter, compared to analyst estimates of $2.20 billion. During the same quarter last year, the business earned $1.02 earnings per share. Skechers U.S.A.’s quarterly revenue was up 12.5% compared to the same quarter last year. Analysts anticipate that Skechers U.S.A., Inc. will post 4.06 earnings per share for the current fiscal year.

Skechers U.S.A. Company 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.