Skechers U.S.A., Inc. (NYSE:SKX) Shares Sold by Ensign Peak Advisors Inc

Ensign Peak Advisors Inc reduced its position in shares of Skechers U.S.A., Inc. (NYSE:SKX) by 81.4% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 58,839 shares of the textile maker’s stock after selling 257,935 shares during the period. Ensign Peak Advisors Inc’s holdings in Skechers U.S.A. were worth $3,956,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in SKX. NewEdge Advisors LLC raised its holdings in Skechers U.S.A. by 85.2% in the fourth quarter. NewEdge Advisors LLC now owns 413 shares of the textile maker’s stock valued at $28,000 after acquiring an additional 190 shares in the last quarter. TD Private Client Wealth LLC raised its holdings in 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. raised its holdings in 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 valued at $46,000 after acquiring an additional 239 shares in the last quarter. IFP Advisors Inc raised its holdings in Skechers U.S.A. by 62.4% in the fourth quarter. IFP Advisors Inc now owns 825 shares of the textile maker’s stock valued at $55,000 after acquiring an additional 317 shares in the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. acquired a new stake in Skechers U.S.A. in the fourth quarter valued at $65,000. 79.96% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research firms recently issued reports on SKX. StockNews.com began coverage on shares of Skechers U.S.A. in a report on Wednesday. They issued a “sell” rating 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, May 6th. Morgan Stanley reissued an “equal weight” rating and set a $63.00 target price (down from $73.00) on shares of Skechers U.S.A. in a report on Wednesday, May 7th. Barclays reissued an “equal weight” rating and set a $63.00 target price (up from $53.00) on shares of Skechers U.S.A. in a report on Tuesday, May 6th. Finally, Stifel Nicolaus dropped their target price on shares of Skechers U.S.A. from $80.00 to $62.00 and set a “buy” rating on the stock in a report on Thursday, April 10th. One analyst has rated the stock with a sell rating, seven have given a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $70.00.

Skechers U.S.A. Stock Down 0.2%

Skechers U.S.A. stock opened at $62.15 on Thursday. The company has a 50-day simple moving average of $53.59 and a 200-day simple moving average of $62.09. The firm has a market capitalization of $9.30 billion, a P/E ratio of 14.98, a P/E/G ratio of 1.11 and a beta of 1.06. 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., Inc. has a one year low of $44.50 and a one year high of $78.85.

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

Insider Activity at Skechers U.S.A.

In related news, General Counsel Phillip Paccione sold 10,994 shares of the 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 completion of the transaction, the general counsel now owns 15,000 shares in the company, valued at $849,450. This represents a 42.29% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CFO John M. Vandemore sold 5,112 shares of the stock in a transaction dated Monday, March 3rd. The shares were sold at an average price of $60.76, for a total transaction of $310,605.12. Following the completion of the transaction, the chief financial officer now owns 83,328 shares of the company’s stock, valued at $5,063,009.28. This represents a 5.78% decrease in their position. The disclosure for this sale can be found here. Insiders sold 129,645 shares of company stock worth $7,895,910 in the last 90 days. Corporate 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.