Mackenzie Financial Corp Trims Stock Position in Skechers U.S.A., Inc. (NYSE:SKX)

Mackenzie Financial Corp cut its stake in Skechers U.S.A., Inc. (NYSE:SKX) by 1.4% in the fourth quarter, HoldingsChannel reports. The fund owned 348,036 shares of the textile maker’s stock after selling 4,870 shares during the period. Mackenzie Financial Corp’s holdings in Skechers U.S.A. were worth $21,697,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also recently made changes to their positions in the company. Raymond James & Associates raised its position in shares of Skechers U.S.A. by 354.5% during the 4th quarter. Raymond James & Associates now owns 52,280 shares of the textile maker’s stock worth $3,259,000 after purchasing an additional 40,778 shares during the last quarter. Lecap Asset Management Ltd. acquired a new position in Skechers U.S.A. in the 4th quarter valued at about $1,798,000. Vaughan Nelson Investment Management L.P. grew its stake in shares of Skechers U.S.A. by 371.8% in the 4th quarter. Vaughan Nelson Investment Management L.P. now owns 758,469 shares of the textile maker’s stock valued at $47,282,000 after buying an additional 597,702 shares during the period. Envestnet Asset Management Inc. increased its holdings in shares of Skechers U.S.A. by 56.8% during the 3rd quarter. Envestnet Asset Management Inc. now owns 96,433 shares of the textile maker’s stock worth $4,720,000 after buying an additional 34,926 shares during the last quarter. Finally, Hsbc Holdings PLC raised its position in shares of Skechers U.S.A. by 117.4% during the 3rd quarter. Hsbc Holdings PLC now owns 99,916 shares of the textile maker’s stock valued at $4,915,000 after buying an additional 53,962 shares during the period. 79.96% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several brokerages recently weighed in on SKX. Barclays started coverage on Skechers U.S.A. in a research report on Monday, April 1st. They issued an “overweight” rating and a $71.00 price objective for the company. Bank of America began coverage on shares of Skechers U.S.A. in a report on Friday, March 8th. They issued a “neutral” rating and a $67.00 price objective on the stock. Wedbush lowered their target price on shares of Skechers U.S.A. from $75.00 to $68.00 and set an “outperform” rating for the company in a research note on Friday, February 2nd. Evercore ISI reduced their price target on shares of Skechers U.S.A. from $73.00 to $68.00 and set an “outperform” rating on the stock in a research note on Wednesday. Finally, TD Cowen upped their price objective on shares of Skechers U.S.A. from $70.00 to $74.00 and gave the stock a “buy” rating in a report on Wednesday, March 6th. Two equities research 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, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $66.17.

Insider Buying and Selling

In other news, CEO Robert Greenberg sold 30,339 shares of the business’s stock in a transaction that occurred on Friday, March 15th. The shares were sold at an average price of $61.11, for a total transaction of $1,854,016.29. Following the completion of the sale, the chief executive officer now owns 132,783 shares in the company, valued at approximately $8,114,369.13. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, COO David Weinberg sold 67,390 shares of Skechers U.S.A. stock in a transaction dated Thursday, February 8th. The stock was sold at an average price of $57.87, for a total transaction 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Robert Greenberg sold 30,339 shares of the business’s stock in a transaction dated Friday, March 15th. The shares were sold at an average price of $61.11, for a total value of $1,854,016.29. Following the completion of the sale, the chief executive officer now directly owns 132,783 shares of the company’s stock, valued at $8,114,369.13. The disclosure for this sale can be found here. Insiders sold a total of 254,875 shares of company stock worth $15,021,192 over the last 90 days. 24.79% of the stock is owned by insiders.

Skechers U.S.A. Stock Up 0.6 %

Shares of NYSE SKX opened at $56.86 on Friday. Skechers U.S.A., Inc. has a 12-month low of $45.58 and a 12-month high of $65.17. The stock has a market cap of $8.72 billion, a P/E ratio of 16.29, a PEG ratio of 1.02 and a beta of 1.32. The company has a current ratio of 2.38, a quick ratio of 1.46 and a debt-to-equity ratio of 0.06. The business’s fifty day simple moving average is $59.72 and its 200-day simple moving average is $57.57.

Skechers U.S.A. (NYSE:SKX) last posted its quarterly earnings results on Thursday, February 1st. The textile maker reported $0.56 EPS for the quarter, topping the consensus estimate of $0.52 by $0.04. The company had revenue of $1.96 billion during the quarter, compared to analysts’ expectations of $2.03 billion. Skechers U.S.A. had a net margin of 6.82% and a return on equity of 12.89%. The firm’s revenue was up 4.4% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.48 EPS. As a group, equities analysts predict that Skechers U.S.A., Inc. will post 3.82 EPS for the current fiscal 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.