Swiss National Bank Has $16.51 Million Stock Position in Skechers U.S.A., Inc. (NYSE:SKX)

Swiss National Bank reduced its stake in shares of Skechers U.S.A., Inc. (NYSE:SKX) by 10.3% in the 4th quarter, Holdings Channel.com reports. The firm owned 264,800 shares of the textile maker’s stock after selling 30,300 shares during the quarter. Swiss National Bank’s holdings in Skechers U.S.A. were worth $16,508,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently bought and sold shares of SKX. Huntington National Bank raised its position in shares of Skechers U.S.A. by 861.7% during the third quarter. Huntington National Bank now owns 577 shares of the textile maker’s stock valued at $28,000 after buying an additional 517 shares during the last quarter. DekaBank Deutsche Girozentrale acquired a new position in Skechers U.S.A. in the 3rd quarter valued at approximately $31,000. GAMMA Investing LLC acquired a new position in Skechers U.S.A. in the 4th quarter valued at approximately $36,000. Planned Solutions Inc. bought a new stake in shares of Skechers U.S.A. in the 4th quarter worth approximately $70,000. Finally, Meeder Asset Management Inc. acquired a new stake in shares of Skechers U.S.A. during the 4th quarter worth approximately $77,000. 79.96% of the stock is owned by institutional investors.

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

In other news, COO David Weinberg sold 20,226 shares of Skechers U.S.A. 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 $1,236,010.86. Following the completion of the sale, the chief operating officer now owns 99,655 shares in the company, valued at approximately $6,089,917.05. The sale was disclosed in a filing with the SEC, which can be accessed through this link. In other news, President Michael Greenberg sold 25,282 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 $1,544,983.02. Following the completion of the sale, the president now directly owns 123,441 shares of the company’s stock, valued at approximately $7,543,479.51. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, COO David Weinberg sold 20,226 shares of Skechers U.S.A. stock in a transaction that occurred on Friday, March 15th. The stock was sold at an average price of $61.11, for a total transaction of $1,236,010.86. Following the transaction, the chief operating officer now directly owns 99,655 shares in the company, valued at approximately $6,089,917.05. The disclosure for this sale can be found here. In the last three months, insiders have sold 81,914 shares of company stock worth $5,005,765. Company insiders own 24.75% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on the company. Wedbush raised their target price on Skechers U.S.A. from $68.00 to $76.00 and gave the stock an “outperform” rating in a research report on Friday, April 26th. Barclays assumed coverage on shares of Skechers U.S.A. in a research report on Monday, April 1st. They set an “overweight” rating and a $71.00 target price on the stock. Raymond James dropped 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 report on Monday, February 5th. Bank of America assumed coverage on Skechers U.S.A. in a report on Friday, March 8th. They set a “neutral” rating and a $67.00 price objective on the stock. Finally, Monness Crespi & Hardt increased their target price on Skechers U.S.A. from $60.00 to $72.00 and gave the stock a “buy” rating in a report on Thursday, January 18th. Two analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $66.83.

Skechers U.S.A. Trading Up 1.6 %

Shares of NYSE SKX opened at $68.07 on Friday. Skechers U.S.A., Inc. has a 1-year low of $45.58 and a 1-year high of $69.07. The company has a current ratio of 2.39, a quick ratio of 1.56 and a debt-to-equity ratio of 0.02. The company has a 50-day moving average of $60.89 and a two-hundred day moving average of $59.14. The company has a market cap of $10.43 billion, a PE ratio of 17.91, a P/E/G ratio of 1.17 and a beta of 1.29.

Skechers U.S.A. (NYSE:SKX) last announced its quarterly earnings data on Thursday, April 25th. The textile maker reported $1.33 EPS for the quarter, beating analysts’ consensus estimates of $1.10 by $0.23. The firm had revenue of $2.25 billion for the quarter, compared to analyst estimates of $2.20 billion. Skechers U.S.A. had a return on equity of 13.56% and a net margin of 7.17%. The business’s quarterly revenue was up 12.5% compared to the same quarter last year. During the same period last year, the company earned $1.02 EPS. As a group, equities analysts expect that Skechers U.S.A., Inc. will post 4.07 earnings per share for the current fiscal year.

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.