Duquesne Family Office LLC Makes New $72.27 Million Investment in Skechers U.S.A., Inc. (NYSE:SKX)

Duquesne Family Office LLC bought a new stake in Skechers U.S.A., Inc. (NYSE:SKX) during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 1,074,840 shares of the textile maker’s stock, valued at approximately $72,272,000. Skechers U.S.A. makes up approximately 1.9% of Duquesne Family Office LLC’s investment portfolio, making the stock its 11th largest position. Duquesne Family Office LLC owned about 0.71% of Skechers U.S.A. as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in the business. Vanguard Group Inc. raised its stake in Skechers U.S.A. by 0.7% during the fourth quarter. Vanguard Group Inc. now owns 12,544,233 shares of the textile maker’s stock valued at $843,474,000 after buying an additional 82,143 shares in the last quarter. Anomaly Capital Management LP raised its position in shares of Skechers U.S.A. by 51.2% during the 4th quarter. Anomaly Capital Management LP now owns 2,989,015 shares of the textile maker’s stock valued at $200,981,000 after acquiring an additional 1,011,815 shares in the last quarter. Bank of New York Mellon Corp lifted its stake in Skechers U.S.A. by 70.4% during the fourth quarter. Bank of New York Mellon Corp now owns 2,308,283 shares of the textile maker’s stock worth $155,209,000 after purchasing an additional 953,528 shares during the last quarter. Geode Capital Management LLC boosted its holdings in Skechers U.S.A. by 3.5% in the fourth quarter. Geode Capital Management LLC now owns 2,294,976 shares of the textile maker’s stock worth $154,361,000 after purchasing an additional 78,071 shares during the period. Finally, Dimensional Fund Advisors LP increased its stake in Skechers U.S.A. by 19.3% during the fourth quarter. Dimensional Fund Advisors LP now owns 2,212,020 shares of the textile maker’s stock valued at $148,743,000 after purchasing an additional 357,681 shares during the last quarter. 79.96% of the stock is currently owned by hedge funds and other institutional investors.

Skechers U.S.A. Stock Down 0.0 %

SKX stock opened at $61.38 on Wednesday. The firm has a market cap of $9.17 billion, a PE ratio of 14.79, a P/E/G ratio of 1.11 and a beta of 1.06. Skechers U.S.A., Inc. has a 12 month low of $44.50 and a 12 month high of $78.85. The firm has a 50 day simple moving average of $53.25 and a 200 day simple moving average of $62.08. The company has a debt-to-equity ratio of 0.01, a current ratio of 1.97 and a quick ratio of 1.12.

Skechers U.S.A. (NYSE:SKX) last issued its quarterly earnings results on Thursday, April 24th. The textile maker reported $1.34 earnings per share for the quarter, topping analysts’ consensus estimates of $1.17 by $0.17. Skechers U.S.A. had a return on equity of 13.73% and a net margin of 7.13%. The firm had revenue of $2.41 billion for the quarter, compared to analysts’ expectations of $2.43 billion. During the same quarter last year, the business posted $1.33 EPS. Skechers U.S.A.’s revenue was up 7.1% on a year-over-year basis. Equities research analysts forecast that Skechers U.S.A., Inc. will post 4.47 earnings per share for the current fiscal year.

Insider Activity at Skechers U.S.A.

In other news, CEO Robert Greenberg sold 52,600 shares of the stock in a transaction that occurred on Wednesday, February 12th. The shares were sold at an average price of $62.72, for a total value of $3,299,072.00. Following the completion of the sale, the chief executive officer now directly owns 61,367 shares of the company’s stock, valued at $3,848,938.24. This represents a 46.15 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, COO David Weinberg sold 36,000 shares of the business’s stock in a transaction that occurred on Wednesday, February 12th. The shares were sold at an average price of $62.72, for a total transaction of $2,257,920.00. Following the transaction, the chief operating officer now directly owns 54,499 shares in the company, valued at $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. In the last 90 days, insiders sold 218,245 shares of company stock worth $13,452,902. 24.78% of the stock is owned by corporate insiders.

Analyst Ratings Changes

Several research analysts have recently commented on the stock. UBS Group reaffirmed a “neutral” rating and issued a $63.00 price target (down from $64.00) on shares of Skechers U.S.A. in a report on Tuesday. Morgan Stanley cut their target price on Skechers U.S.A. from $80.00 to $73.00 and set an “overweight” rating on the stock in a research note on Friday, April 25th. Wells Fargo & Company upped their price target on shares of Skechers U.S.A. from $57.00 to $63.00 and gave the stock an “overweight” rating in a research report on Tuesday. Barclays reaffirmed an “equal weight” rating and issued a $63.00 price objective (up previously from $53.00) on shares of Skechers U.S.A. in a report on Tuesday. Finally, Evercore ISI reduced their target price on shares of Skechers U.S.A. from $78.00 to $60.00 and set an “outperform” rating for the company in a research note on Thursday, April 17th. One research analyst has rated the stock with a sell rating, four have given a hold rating and ten have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $70.77.

Skechers U.S.A. 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.