KBC Group NV Purchases 19,865 Shares of Skechers U.S.A., Inc. (NYSE:SKX)

KBC Group NV lifted its position in Skechers U.S.A., Inc. (NYSE:SKX) by 11.3% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 195,503 shares of the textile maker’s stock after acquiring an additional 19,865 shares during the quarter. KBC Group NV owned 0.13% of Skechers U.S.A. worth $13,146,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in SKX. UMB Bank n.a. raised its holdings in shares of Skechers U.S.A. by 423.3% in the 3rd quarter. UMB Bank n.a. now owns 450 shares of the textile maker’s stock valued at $30,000 after purchasing an additional 364 shares in the last quarter. Venturi Wealth Management LLC increased its holdings in Skechers U.S.A. by 52.9% during the third 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 period. Blue Trust Inc. raised its stake in Skechers U.S.A. by 778.1% in the third quarter. Blue Trust Inc. now owns 1,001 shares of the textile maker’s stock worth $69,000 after buying an additional 887 shares in the last quarter. Brooklyn Investment Group purchased a new stake in Skechers U.S.A. during the third quarter worth $67,000. Finally, Quarry LP boosted its position in Skechers U.S.A. by 44.6% during the 2nd quarter. Quarry LP now owns 1,187 shares of the textile maker’s stock valued at $82,000 after acquiring an additional 366 shares in the last quarter. 79.96% of the stock is owned by hedge funds and other institutional investors.

Skechers U.S.A. Stock Down 0.0 %

Skechers U.S.A. stock opened at $76.78 on Thursday. The business’s 50-day simple moving average is $68.70 and its two-hundred day simple moving average is $65.98. The company has a debt-to-equity ratio of 0.01, a quick ratio of 1.25 and a current ratio of 1.96. The company has a market cap of $11.59 billion, a PE ratio of 18.91, a PEG ratio of 0.90 and a beta of 1.19. Skechers U.S.A., Inc. has a fifty-two week low of $55.67 and a fifty-two week high of $77.85.

Insider Activity at Skechers U.S.A.

In other news, President Michael Greenberg sold 10,274 shares of the business’s stock in a transaction dated Tuesday, December 31st. The stock was sold at an average price of $67.48, for a total value of $693,289.52. Following the completion of the transaction, the president now owns 149,327 shares of the company’s stock, valued at $10,076,585.96. The trade was a 6.44 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, COO David Weinberg sold 8,219 shares of the firm’s stock in a transaction dated Tuesday, December 31st. The stock was sold at an average price of $67.48, for a total value of $554,618.12. Following the sale, the chief operating officer now directly owns 122,211 shares in the company, valued at approximately $8,246,798.28. This trade represents a 6.30 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 24.75% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

SKX has been the subject of a number of analyst reports. Barclays upped their price objective on Skechers U.S.A. from $79.00 to $80.00 and gave the stock an “overweight” rating in a research note on Friday, October 25th. Needham & Company LLC reissued a “hold” rating on shares of Skechers U.S.A. in a research report on Wednesday. Morgan Stanley lifted their price objective on shares of Skechers U.S.A. from $81.00 to $84.00 and gave the stock an “overweight” rating in a research report on Friday, October 25th. Bank of America decreased their target price on shares of Skechers U.S.A. from $81.00 to $80.00 and set a “buy” rating for the company in a research report on Friday, October 25th. Finally, TD Cowen lifted their price target on shares of Skechers U.S.A. from $88.00 to $93.00 and gave the stock a “buy” rating in a report on Wednesday, January 8th. Two equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Skechers U.S.A. presently has a consensus rating of “Moderate Buy” and a consensus target price of $80.18.

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.