25,463 Shares in Skechers U.S.A., Inc. (NYSE:SKX) Bought by Sumitomo Mitsui Trust Holdings Inc.

Sumitomo Mitsui Trust Holdings Inc. acquired a new stake in shares of Skechers U.S.A., Inc. (NYSE:SKX) during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 25,463 shares of the textile maker’s stock, valued at approximately $1,587,000.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in SKX. Janney Capital Management LLC grew its position in shares of Skechers U.S.A. by 2.8% in the 3rd quarter. Janney Capital Management LLC now owns 8,646 shares of the textile maker’s stock worth $423,000 after buying an additional 233 shares during the last quarter. Inspire Investing LLC grew its holdings in Skechers U.S.A. by 4.5% in the third quarter. Inspire Investing LLC now owns 6,230 shares of the textile maker’s stock worth $305,000 after purchasing an additional 268 shares during the last quarter. SageView Advisory Group LLC increased its position in shares of Skechers U.S.A. by 3.0% during the third quarter. SageView Advisory Group LLC now owns 9,428 shares of the textile maker’s stock worth $462,000 after purchasing an additional 276 shares in the last quarter. Teacher Retirement System of Texas lifted its holdings in shares of Skechers U.S.A. by 0.7% during the 3rd quarter. Teacher Retirement System of Texas now owns 48,476 shares of the textile maker’s stock valued at $2,373,000 after purchasing an additional 326 shares during the last quarter. Finally, Cascade Investment Advisors Inc. lifted its holdings in shares of Skechers U.S.A. by 1.9% during the 4th quarter. Cascade Investment Advisors Inc. now owns 19,895 shares of the textile maker’s stock valued at $1,240,000 after purchasing an additional 370 shares during the last quarter. Hedge funds and other institutional investors own 79.96% of the company’s stock.

Insider Activity

In related news, CEO Robert Greenberg sold 30,339 shares of the company’s stock in a transaction dated Friday, March 15th. The stock was sold at an average price of $61.11, for a total value of $1,854,016.29. Following the completion of the transaction, the chief executive officer now owns 132,783 shares of the company’s stock, valued at approximately $8,114,369.13. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Skechers U.S.A. news, CEO Robert Greenberg sold 30,339 shares of the firm’s stock in a transaction that occurred on Friday, March 15th. The stock was sold at an average price of $61.11, for a total value of $1,854,016.29. Following the sale, the chief executive officer now directly owns 132,783 shares of the company’s stock, valued at $8,114,369.13. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, President Michael Greenberg sold 25,282 shares of the company’s stock in a transaction that occurred on Friday, March 15th. The stock was sold at an average price of $61.11, for a total value of $1,544,983.02. Following the transaction, the president now directly owns 123,441 shares of the company’s stock, valued at $7,543,479.51. The disclosure for this sale can be found here. Insiders have sold 254,875 shares of company stock worth $15,021,192 in the last ninety days. Company insiders own 24.75% of the company’s stock.

Analyst Ratings Changes

SKX has been the subject of several recent analyst reports. Bank of America assumed coverage on Skechers U.S.A. in a report on Friday, March 8th. They issued a “neutral” rating and a $67.00 price target for the company. Stifel Nicolaus lowered their target price on shares of Skechers U.S.A. from $72.00 to $70.00 and set a “buy” rating for the company in a research note on Friday, February 2nd. TD Cowen upped their price target on shares of Skechers U.S.A. from $70.00 to $74.00 and gave the company a “buy” rating in a research note on Wednesday, March 6th. Evercore ISI decreased their price target on shares of Skechers U.S.A. from $73.00 to $68.00 and set an “outperform” rating for the company in a report on Wednesday, April 17th. Finally, Barclays initiated coverage on shares of Skechers U.S.A. in a report on Monday, April 1st. They set an “overweight” rating and a $71.00 price objective on the stock. Two analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $66.17.

Skechers U.S.A. Price Performance

Shares of NYSE SKX opened at $59.14 on Thursday. The company has a debt-to-equity ratio of 0.06, a current ratio of 2.38 and a quick ratio of 1.46. The stock has a market capitalization of $9.06 billion, a price-to-earnings ratio of 16.95, a PEG ratio of 1.05 and a beta of 1.32. The firm’s 50 day simple moving average is $59.64 and its 200-day simple moving average is $57.91. Skechers U.S.A., Inc. has a 12 month low of $45.58 and a 12 month high of $65.17.

Skechers U.S.A. (NYSE:SKX) last announced its quarterly earnings results on Thursday, February 1st. The textile maker reported $0.56 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.52 by $0.04. Skechers U.S.A. had a net margin of 6.82% and a return on equity of 12.89%. The firm had revenue of $1.96 billion for the quarter, compared to the consensus estimate of $2.03 billion. During the same period in the prior year, the firm posted $0.48 earnings per share. The firm’s quarterly revenue was up 4.4% compared to the same quarter last year. Analysts expect that Skechers U.S.A., Inc. will post 3.81 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.