Zurcher Kantonalbank Zurich Cantonalbank Sells 3,127 Shares of Skechers U.S.A., Inc. (NYSE:SKX)

Zurcher Kantonalbank Zurich Cantonalbank reduced its stake in shares of Skechers U.S.A., Inc. (NYSE:SKX) by 11.5% in the fourth quarter, according to its most recent filing with the SEC. The fund owned 23,954 shares of the textile maker’s stock after selling 3,127 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Skechers U.S.A. were worth $1,493,000 as of its most recent SEC filing.

Other hedge funds also recently made changes to their positions in the company. Huntington National Bank lifted its holdings in shares of Skechers U.S.A. by 861.7% during the 3rd quarter. Huntington National Bank now owns 577 shares of the textile maker’s stock worth $28,000 after acquiring an additional 517 shares during the last quarter. DekaBank Deutsche Girozentrale bought a new stake in Skechers U.S.A. in the third quarter worth $31,000. Planned Solutions Inc. bought a new stake in Skechers U.S.A. in the fourth quarter worth $70,000. Meeder Asset Management Inc. bought a new stake in Skechers U.S.A. in the fourth quarter worth $77,000. Finally, Gateway Investment Advisers LLC bought a new stake in Skechers U.S.A. in the fourth quarter worth $204,000. 79.96% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several analysts have weighed in on the stock. Raymond James lowered their price target on shares of Skechers U.S.A. from $68.00 to $66.00 and set an “outperform” rating for the company in a research note on Monday, February 5th. Barclays assumed coverage on shares of Skechers U.S.A. in a research note on Monday, April 1st. They issued an “overweight” rating and a $71.00 price target for the company. Evercore ISI lowered 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 research note on Wednesday, April 17th. Bank of America began coverage on shares of Skechers U.S.A. in a research report on Friday, March 8th. They issued a “neutral” rating and a $67.00 price objective on the stock. Finally, Monness Crespi & Hardt boosted their price objective on shares of Skechers U.S.A. from $60.00 to $72.00 and gave the company a “buy” rating in a research report on Thursday, January 18th. Two analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $66.17.

Insider Activity at Skechers U.S.A.

In other Skechers U.S.A. news, COO David Weinberg sold 67,390 shares of the company’s stock in a transaction dated Thursday, February 8th. The shares were sold at an average price of $57.87, for a total value of $3,899,859.30. Following the sale, the chief operating officer now owns 141,405 shares in the company, valued at $8,183,107.35. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In other Skechers U.S.A. news, COO David Weinberg sold 67,390 shares of the company’s stock in a transaction dated Thursday, February 8th. The shares were sold at an average price of $57.87, for a total value of $3,899,859.30. Following the sale, the chief operating officer now owns 141,405 shares in the company, valued at $8,183,107.35. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, EVP Mark A. Nason sold 6,432 shares of the company’s stock in a transaction dated Friday, February 9th. The stock was sold at an average price of $58.83, for a total transaction of $378,394.56. Following the completion of the sale, the executive vice president now owns 34,023 shares in the company, valued at approximately $2,001,573.09. The disclosure for this sale can be found here. Insiders have sold 254,875 shares of company stock worth $15,021,192 over the last 90 days. 24.75% of the stock is owned by company insiders.

Skechers U.S.A. Price Performance

Shares of NYSE SKX opened at $58.82 on Friday. Skechers U.S.A., Inc. has a 1 year low of $45.58 and a 1 year high of $65.17. 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 company’s 50-day moving average is $59.61 and its 200 day moving average is $57.92. The stock has a market capitalization of $9.02 billion, a P/E ratio of 16.85, a P/E/G ratio of 1.07 and a beta of 1.32.

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, beating the consensus estimate 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 company had revenue of $1.96 billion for the quarter, compared to analysts’ expectations of $2.03 billion. During the same quarter in the previous year, the company earned $0.48 earnings per share. Skechers U.S.A.’s quarterly revenue was up 4.4% on a year-over-year basis. On average, sell-side analysts expect that Skechers U.S.A., Inc. will post 3.81 earnings per share for the current year.

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.