Skechers U.S.A., Inc. (NYSE:SKX) Shares Sold by Fmr LLC

Fmr LLC reduced its holdings in shares of Skechers U.S.A., Inc. (NYSE:SKX) by 0.7% during the 4th quarter, according to its most recent 13F filing with the SEC. The fund owned 19,744,469 shares of the textile maker’s stock after selling 136,903 shares during the period. Fmr LLC owned approximately 13.08% of Skechers U.S.A. worth $1,327,618,000 as of its most recent filing with the SEC.

Other institutional investors also recently bought and sold shares of the company. Sanctuary Advisors LLC lifted its position in Skechers U.S.A. by 88.1% during the 3rd quarter. Sanctuary Advisors LLC now owns 29,538 shares of the textile maker’s stock worth $1,822,000 after acquiring an additional 13,836 shares during the period. Raymond James Financial Inc. acquired a new position in Skechers U.S.A. in the 4th quarter valued at $12,852,000. National Bank of Canada FI lifted its stake in shares of Skechers U.S.A. by 2,340.0% in the 3rd quarter. National Bank of Canada FI now owns 70,710 shares of the textile maker’s stock worth $4,732,000 after acquiring an additional 67,812 shares during the period. Assenagon Asset Management S.A. increased its stake in shares of Skechers U.S.A. by 15.2% during the fourth quarter. Assenagon Asset Management S.A. now owns 120,007 shares of the textile maker’s stock worth $8,069,000 after acquiring an additional 15,874 shares during the period. Finally, Nordea Investment Management AB acquired a new stake in Skechers U.S.A. in the fourth quarter valued at about $2,752,000. 79.96% of the stock is currently owned by institutional investors and hedge funds.

Skechers U.S.A. Stock Performance

Skechers U.S.A. stock opened at $50.29 on Monday. Skechers U.S.A., Inc. has a fifty-two week low of $45.69 and a fifty-two week high of $78.85. The company has a market capitalization of $7.51 billion, a price-to-earnings ratio of 12.12, a PEG ratio of 1.11 and a beta of 1.08. The stock has a fifty day moving average of $62.35 and a two-hundred day moving average of $64.75. 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 announced its earnings results on Thursday, February 6th. The textile maker reported $0.65 earnings per share for the quarter, missing the consensus estimate of $0.73 by ($0.08). Skechers U.S.A. had a net margin of 7.13% and a return on equity of 13.73%. On average, analysts anticipate that Skechers U.S.A., Inc. will post 4.47 EPS for the current fiscal year.

Insider Buying and Selling

In related news, CFO John M. Vandemore sold 5,112 shares of the stock in a transaction dated Monday, March 3rd. The stock was sold at an average price of $60.76, for a total transaction of $310,605.12. Following the transaction, the chief financial officer now directly owns 83,328 shares in the company, valued at approximately $5,063,009.28. This represents a 5.78 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, COO David Weinberg sold 36,000 shares of the firm’s stock in a transaction dated Wednesday, February 12th. The stock was sold at an average price of $62.72, for a total value of $2,257,920.00. Following the completion of the sale, the chief operating officer now directly owns 54,499 shares in the company, valued at approximately $3,418,177.28. The trade was a 39.78 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 218,245 shares of company stock worth $13,452,902. 24.75% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on SKX shares. UBS Group dropped their target price on Skechers U.S.A. from $92.00 to $90.00 and set a “buy” rating on the stock in a research report on Friday, February 7th. Piper Sandler began coverage on shares of Skechers U.S.A. in a research report on Tuesday, December 10th. They set a “neutral” rating and a $65.00 target price on the stock. Evercore ISI upped their price target on shares of 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 decreased their price objective on shares of Skechers U.S.A. from $80.00 to $75.00 and set an “outperform” rating on the stock in a report on Friday, February 7th. Finally, StockNews.com cut shares of Skechers U.S.A. from a “buy” rating to a “hold” rating in a report on Monday, February 10th. Three 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, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $80.42.

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.