Kera Capital Partners Inc. Makes New $233,000 Investment in Skechers U.S.A., Inc. (NYSE:SKX)

Kera Capital Partners Inc. bought a new stake in shares of Skechers U.S.A., Inc. (NYSE:SKX) in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm bought 3,471 shares of the textile maker’s stock, valued at approximately $233,000.

A number of other hedge funds and other institutional investors have also modified their holdings of the business. Pacer Advisors Inc. grew its stake in Skechers U.S.A. by 5,780.6% during the 3rd quarter. Pacer Advisors Inc. now owns 2,639,390 shares of the textile maker’s stock valued at $176,628,000 after purchasing an additional 2,594,507 shares in the last quarter. Geode Capital Management LLC grew its position in shares of Skechers U.S.A. by 0.5% during the third quarter. Geode Capital Management LLC now owns 2,216,905 shares of the textile maker’s stock worth $148,395,000 after buying an additional 11,026 shares in the last quarter. Dimensional Fund Advisors LP increased its stake in shares of Skechers U.S.A. by 3.0% in the second quarter. Dimensional Fund Advisors LP now owns 1,885,723 shares of the textile maker’s stock worth $130,350,000 after buying an additional 55,095 shares during the last quarter. Charles Schwab Investment Management Inc. raised its holdings in Skechers U.S.A. by 1.3% in the third quarter. Charles Schwab Investment Management Inc. now owns 1,316,882 shares of the textile maker’s stock valued at $88,126,000 after acquiring an additional 17,429 shares in the last quarter. Finally, Wellington Management Group LLP boosted its stake in Skechers U.S.A. by 39.0% during the 3rd quarter. Wellington Management Group LLP now owns 1,025,556 shares of the textile maker’s stock valued at $68,630,000 after acquiring an additional 287,939 shares during the last quarter. 79.96% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Skechers U.S.A.

In other news, President Michael Greenberg sold 10,274 shares of the business’s stock in a transaction on Tuesday, December 31st. The stock was sold at an average price of $67.48, for a total value of $693,289.52. Following the sale, the president now owns 149,327 shares of the company’s stock, valued at approximately $10,076,585.96. The trade was a 6.44 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, COO David Weinberg sold 8,219 shares of the firm’s stock in a transaction dated Tuesday, December 31st. The shares were sold at an average price of $67.48, for a total value of $554,618.12. Following the transaction, the chief operating officer now directly owns 122,211 shares of the company’s stock, valued at $8,246,798.28. This represents a 6.30 % decrease in their position. The disclosure for this sale can be found here. 24.75% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on SKX shares. Piper Sandler assumed coverage on shares of Skechers U.S.A. in a research report on Tuesday, December 10th. They issued a “neutral” rating and a $65.00 target price for the company. Barclays boosted their price objective on Skechers U.S.A. from $79.00 to $80.00 and gave the company an “overweight” rating in a report on Friday, October 25th. Needham & Company LLC assumed coverage on Skechers U.S.A. in a report on Friday, November 22nd. They set a “hold” rating on the stock. TD Cowen upped their price target on Skechers U.S.A. from $88.00 to $93.00 and gave the company a “buy” rating in a research report on Wednesday, January 8th. Finally, Morgan Stanley lifted their price objective on shares of Skechers U.S.A. from $81.00 to $84.00 and gave the stock an “overweight” rating in a report on Friday, October 25th. Three investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. Based on data from MarketBeat.com, Skechers U.S.A. has an average rating of “Moderate Buy” and an average target price of $79.00.

Skechers U.S.A. Trading Up 1.1 %

Shares of NYSE:SKX opened at $70.09 on Friday. The company has a quick ratio of 1.25, a current ratio of 1.96 and a debt-to-equity ratio of 0.01. The company’s 50-day moving average price is $66.81 and its 200 day moving average price is $65.65. The company has a market cap of $10.58 billion, a PE ratio of 17.26, a P/E/G ratio of 0.86 and a beta of 1.19. Skechers U.S.A., Inc. has a fifty-two week low of $55.67 and a fifty-two week high of $75.09.

Skechers U.S.A. (NYSE:SKX) last issued its quarterly earnings data on Thursday, October 24th. The textile maker reported $1.26 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.15 by $0.11. Skechers U.S.A. had a return on equity of 13.71% and a net margin of 7.19%. The business had revenue of $2.35 billion during the quarter, compared to the consensus estimate of $2.31 billion. During the same period in the previous year, the firm posted $0.93 earnings per share. The business’s revenue was up 16.0% on a year-over-year basis. Sell-side analysts anticipate that Skechers U.S.A., Inc. will post 4.24 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.