Skechers U.S.A., Inc. (NYSE:SKX) Shares Acquired by Johnson Investment Counsel Inc.

Johnson Investment Counsel Inc. lifted its holdings in shares of Skechers U.S.A., Inc. (NYSE:SKX) by 6.2% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 35,518 shares of the textile maker’s stock after purchasing an additional 2,079 shares during the period. Johnson Investment Counsel Inc.’s holdings in Skechers U.S.A. were worth $2,388,000 as of its most recent SEC filing.

Several other institutional investors have also recently modified their holdings of SKX. Covestor Ltd raised its holdings in shares of Skechers U.S.A. by 18.8% in the third quarter. Covestor Ltd now owns 1,678 shares of the textile maker’s stock worth $112,000 after acquiring an additional 265 shares during the last quarter. Los Angeles Capital Management LLC increased its position in Skechers U.S.A. by 54.5% during the 3rd quarter. Los Angeles Capital Management LLC now owns 14,120 shares of the textile maker’s stock worth $945,000 after purchasing an additional 4,981 shares in the last quarter. Venturi Wealth Management LLC increased its position in Skechers U.S.A. by 52.9% during the 3rd quarter. Venturi Wealth Management LLC now owns 864 shares of the textile maker’s stock worth $58,000 after purchasing an additional 299 shares in the last quarter. OVERSEA CHINESE BANKING Corp Ltd raised its stake in Skechers U.S.A. by 120.6% in the 3rd quarter. OVERSEA CHINESE BANKING Corp Ltd now owns 71,320 shares of the textile maker’s stock valued at $4,773,000 after purchasing an additional 38,983 shares during the last quarter. Finally, Victory Capital Management Inc. lifted its holdings in Skechers U.S.A. by 22.3% in the 3rd quarter. Victory Capital Management Inc. now owns 138,893 shares of the textile maker’s stock valued at $9,295,000 after purchasing an additional 25,289 shares in the last quarter. 79.96% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on SKX shares. Barclays lowered their price target on shares of Skechers U.S.A. from $80.00 to $77.00 and set an “overweight” rating for the company in a report on Monday, February 10th. Raymond James cut their price target on Skechers U.S.A. from $80.00 to $75.00 and set an “outperform” rating for the company in a report on Friday, February 7th. UBS Group reduced their price target on Skechers U.S.A. from $92.00 to $90.00 and set a “buy” rating on the stock in a research note on Friday, February 7th. Needham & Company LLC reaffirmed a “hold” rating on shares of Skechers U.S.A. in a research report on Friday, February 7th. Finally, TD Cowen upped their target price on Skechers U.S.A. from $88.00 to $93.00 and gave the company a “buy” rating in a research note on Wednesday, January 8th. Three investment 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, the company presently has an average rating of “Moderate Buy” and a consensus target price of $81.25.

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

In other Skechers U.S.A. news, CEO Robert Greenberg sold 52,600 shares of the business’s stock in a transaction dated Wednesday, February 12th. The stock was sold at an average price of $62.72, for a total transaction of $3,299,072.00. Following the completion of the sale, the chief executive officer now owns 61,367 shares of the company’s stock, valued at approximately $3,848,938.24. The trade was a 46.15 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO John M. Vandemore sold 5,112 shares of the business’s stock in a transaction dated Monday, March 3rd. The shares were sold at an average price of $60.76, for a total value of $310,605.12. Following the sale, the chief financial officer now directly owns 83,328 shares of the company’s stock, valued at approximately $5,063,009.28. This trade represents a 5.78 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 236,738 shares of company stock valued at $14,700,809. Company insiders own 24.75% of the company’s stock.

Skechers U.S.A. Price Performance

SKX stock opened at $55.75 on Wednesday. The stock has a 50-day moving average price of $67.52 and a two-hundred day moving average price of $66.17. Skechers U.S.A., Inc. has a 12-month low of $53.79 and a 12-month high of $78.85. The company has a current ratio of 1.97, a quick ratio of 1.12 and a debt-to-equity ratio of 0.01. The company has a market cap of $8.42 billion, a PE ratio of 13.43, a price-to-earnings-growth ratio of 1.11 and a beta of 1.21.

Skechers U.S.A. (NYSE:SKX) last posted its quarterly earnings results on Thursday, February 6th. The textile maker reported $0.65 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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%. As a group, research analysts predict that Skechers U.S.A., Inc. will post 4.47 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.