Skechers U.S.A., Inc. (NYSE:SKX) Shares Sold by Handelsbanken Fonder AB

Handelsbanken Fonder AB trimmed its holdings in shares of Skechers U.S.A., Inc. (NYSE:SKX) by 2.7% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 35,690 shares of the textile maker’s stock after selling 1,000 shares during the quarter. Handelsbanken Fonder AB’s holdings in Skechers U.S.A. were worth $2,400,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Pacer Advisors Inc. boosted its stake in Skechers U.S.A. by 5,780.6% during the third quarter. Pacer Advisors Inc. now owns 2,639,390 shares of the textile maker’s stock worth $176,628,000 after buying an additional 2,594,507 shares during the period. Geode Capital Management LLC lifted its holdings in shares of Skechers U.S.A. by 0.5% in the 3rd quarter. Geode Capital Management LLC now owns 2,216,905 shares of the textile maker’s stock worth $148,395,000 after acquiring an additional 11,026 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its holdings in shares of Skechers U.S.A. by 1.3% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,316,882 shares of the textile maker’s stock worth $88,126,000 after acquiring an additional 17,429 shares during the last quarter. Wellington Management Group LLP boosted its position in shares of 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 worth $68,630,000 after purchasing an additional 287,939 shares during the period. Finally, Loomis Sayles & Co. L P increased its holdings in Skechers U.S.A. by 7.1% in the 3rd quarter. Loomis Sayles & Co. L P now owns 752,067 shares of the textile maker’s stock valued at $50,328,000 after purchasing an additional 49,734 shares during the last quarter. 79.96% of the stock is currently owned by hedge funds and other institutional investors.

Skechers U.S.A. Stock Down 1.8 %

Shares of NYSE:SKX opened at $61.76 on Tuesday. Skechers U.S.A., Inc. has a fifty-two week low of $55.67 and a fifty-two week high of $78.85. The firm’s 50 day moving average price is $69.33 and its 200 day moving average price is $66.64. The company has a quick ratio of 1.12, a current ratio of 1.97 and a debt-to-equity ratio of 0.01. The stock has a market cap of $9.32 billion, a price-to-earnings ratio of 14.88, a price-to-earnings-growth ratio of 1.11 and a beta of 1.19.

Skechers U.S.A. (NYSE:SKX) last announced its quarterly earnings data on Thursday, February 6th. The textile maker reported $0.65 EPS for the quarter, missing analysts’ consensus estimates of $0.73 by ($0.08). Skechers U.S.A. had a net margin of 7.13% and a return on equity of 13.73%. As a group, equities research analysts predict that Skechers U.S.A., Inc. will post 4.47 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

SKX has been the topic of a number of research reports. Piper Sandler began coverage on Skechers U.S.A. in a research note on Tuesday, December 10th. They set a “neutral” rating and a $65.00 price target on the stock. Barclays decreased their target price on Skechers U.S.A. from $80.00 to $77.00 and set an “overweight” rating on the stock in a research note on Monday, February 10th. StockNews.com downgraded Skechers U.S.A. from a “buy” rating to a “hold” rating in a research report on Monday, February 10th. UBS Group reduced their price target on shares of Skechers U.S.A. from $92.00 to $90.00 and set a “buy” rating on the stock in a research report on Friday, February 7th. Finally, Stifel Nicolaus lowered their price objective on shares of Skechers U.S.A. from $83.00 to $80.00 and set a “buy” rating for the company in a research note on Friday, February 7th. Three investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Skechers U.S.A. presently has a consensus rating of “Moderate Buy” and an average price target of $81.25.

Insider Buying and Selling at Skechers U.S.A.

In other news, CEO Robert Greenberg sold 52,600 shares of the stock in a transaction dated Wednesday, February 12th. The stock was sold at an average price of $62.72, for a total value of $3,299,072.00. Following the transaction, the chief executive officer now owns 61,367 shares in the company, valued at approximately $3,848,938.24. This represents a 46.15 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, President Michael Greenberg sold 10,274 shares of the business’s stock in a transaction that occurred 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 disclosure for this sale can be found here. Insiders have sold a total of 119,139 shares of company stock worth $7,600,899 over the last ninety days. Corporate insiders own 24.75% of the company’s stock.

Skechers U.S.A. Company 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.