DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main Grows Holdings in Skechers U.S.A., Inc. (NYSE:SKX)

DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main raised its position in shares of Skechers U.S.A., Inc. (NYSE:SKX) by 5.8% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 77,761 shares of the textile maker’s stock after purchasing an additional 4,257 shares during the quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main owned 0.05% of Skechers U.S.A. worth $5,229,000 as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. NewEdge Advisors LLC boosted its holdings in Skechers U.S.A. by 85.2% in the 4th quarter. NewEdge Advisors LLC now owns 413 shares of the textile maker’s stock worth $28,000 after buying an additional 190 shares during the period. TD Private Client Wealth LLC lifted its position in shares of Skechers U.S.A. by 534.3% in the fourth quarter. TD Private Client Wealth LLC now owns 425 shares of the textile maker’s stock valued at $29,000 after acquiring an additional 358 shares in the last quarter. UMB Bank n.a. boosted its stake in shares of Skechers U.S.A. by 53.1% in the fourth quarter. UMB Bank n.a. now owns 689 shares of the textile maker’s stock worth $46,000 after acquiring an additional 239 shares during the period. IFP Advisors Inc grew its position in shares of Skechers U.S.A. by 62.4% during the fourth quarter. IFP Advisors Inc now owns 825 shares of the textile maker’s stock worth $55,000 after purchasing an additional 317 shares in the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. bought a new stake in Skechers U.S.A. during the 4th quarter valued at approximately $65,000. 79.96% of the stock is currently owned by institutional investors.

Skechers U.S.A. Price Performance

NYSE:SKX opened at $61.50 on Friday. The firm has a market capitalization of $9.19 billion, a price-to-earnings ratio of 14.82, a PEG ratio of 1.11 and a beta of 1.06. The company has a debt-to-equity ratio of 0.01, a current ratio of 1.97 and a quick ratio of 1.12. The business has a 50 day simple moving average of $53.40 and a 200-day simple moving average of $62.06. Skechers U.S.A., Inc. has a 1 year low of $44.50 and a 1 year high of $78.85.

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

Analysts Set New Price Targets

Several research analysts have weighed in on SKX shares. Needham & Company LLC restated a “hold” rating on shares of Skechers U.S.A. in a research note on Tuesday, April 22nd. Bank of America dropped their target price on shares of Skechers U.S.A. from $76.00 to $70.00 and set a “buy” rating for the company in a research report on Monday, March 24th. Barclays reiterated an “equal weight” rating and issued a $63.00 price target (up from $53.00) on shares of Skechers U.S.A. in a report on Tuesday. UBS Group reissued a “neutral” rating and set a $63.00 price objective (down previously from $64.00) on shares of Skechers U.S.A. in a report on Tuesday. Finally, Monness Crespi & Hardt cut Skechers U.S.A. from a “strong-buy” rating to a “hold” rating in a report on Wednesday. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $70.00.

Insider Activity at Skechers U.S.A.

In other news, General Counsel Phillip Paccione sold 10,994 shares of the company’s stock in a transaction dated Monday, March 3rd. The shares were sold at an average price of $56.63, for a total value of $622,590.22. Following the transaction, the general counsel now directly owns 15,000 shares in the company, valued at approximately $849,450. This represents a 42.29 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO Robert Greenberg sold 52,600 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 transaction of $3,299,072.00. Following the completion of the transaction, the chief executive officer now directly owns 61,367 shares in the company, valued at $3,848,938.24. This represents a 46.15 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 218,245 shares of company stock worth $13,452,902. Insiders own 24.78% of the company’s stock.

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.