Skechers U.S.A., Inc. (NYSE:SKX) Position Trimmed by Hsbc Holdings PLC

Hsbc Holdings PLC cut its stake in Skechers U.S.A., Inc. (NYSE:SKXFree Report) by 65.7% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 34,279 shares of the textile maker’s stock after selling 65,637 shares during the period. Hsbc Holdings PLC’s holdings in Skechers U.S.A. were worth $2,140,000 as of its most recent SEC filing.

Other hedge funds have also recently bought and sold shares of the company. GAMMA Investing LLC acquired a new position in Skechers U.S.A. during the fourth quarter worth about $36,000. Huntington National Bank raised its holdings in 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 in the last quarter. DekaBank Deutsche Girozentrale acquired a new stake in shares of Skechers U.S.A. in the third quarter worth about $31,000. Planned Solutions Inc. bought a new stake in shares of Skechers U.S.A. during the 4th quarter worth $70,000. Finally, Meeder Asset Management Inc. acquired a new stake in shares of Skechers U.S.A. in the fourth quarter valued at about $77,000. 79.96% of the stock is currently owned by institutional investors.

Insider Activity at Skechers U.S.A.

In other Skechers U.S.A. news, CEO Robert Greenberg sold 30,339 shares of Skechers U.S.A. stock in a transaction on 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 sale, the chief executive officer now directly owns 132,783 shares in the company, valued at approximately $8,114,369.13. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In related news, COO David Weinberg sold 20,226 shares of the firm’s stock in a transaction on Friday, March 15th. The stock was sold at an average price of $61.11, for a total value of $1,236,010.86. Following the transaction, the chief operating officer now owns 99,655 shares in the company, valued at $6,089,917.05. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Robert Greenberg sold 30,339 shares of the company’s stock in a transaction on Friday, March 15th. The stock was sold at an average price of $61.11, for a total value of $1,854,016.29. Following the sale, the chief executive officer now owns 132,783 shares of the company’s stock, valued at $8,114,369.13. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 82,337 shares of company stock valued at $5,035,142. 24.75% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on the company. TD Cowen lifted their target price on Skechers U.S.A. from $70.00 to $74.00 and gave the stock a “buy” rating in a research report on Wednesday, March 6th. Evercore ISI reduced their price objective on shares of Skechers U.S.A. from $73.00 to $68.00 and set an “outperform” rating for the company in a report on Wednesday, April 17th. Bank of America raised shares of Skechers U.S.A. from a “neutral” rating to a “buy” rating and upped their target price for the company from $71.00 to $87.00 in a research note on Friday. Wedbush restated an “outperform” rating and set a $76.00 price target on shares of Skechers U.S.A. in a research note on Friday, May 17th. Finally, Stifel Nicolaus upped their price objective on Skechers U.S.A. from $74.00 to $81.00 and gave the company a “buy” rating in a research note on Tuesday, May 28th. One analyst has rated the stock with a hold rating and twelve have given 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 an average target price of $69.42.

Read Our Latest Research Report on SKX

Skechers U.S.A. Stock Performance

Shares of NYSE:SKX opened at $72.86 on Friday. Skechers U.S.A., Inc. has a twelve month low of $45.58 and a twelve month high of $73.84. The business has a fifty day moving average of $64.44 and a 200-day moving average of $62.06. The company has a debt-to-equity ratio of 0.02, a quick ratio of 1.56 and a current ratio of 2.39. The firm has a market cap of $11.11 billion, a PE ratio of 19.17, a price-to-earnings-growth ratio of 1.24 and a beta of 1.28.

Skechers U.S.A. (NYSE:SKXGet Free Report) last announced its earnings results on Thursday, April 25th. The textile maker reported $1.33 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.10 by $0.23. The company had revenue of $2.25 billion for the quarter, compared to analyst estimates of $2.20 billion. Skechers U.S.A. had a net margin of 7.17% and a return on equity of 13.56%. Skechers U.S.A.’s quarterly revenue was up 12.5% on a year-over-year basis. During the same period in the prior year, the business earned $1.02 earnings per share. On average, equities research analysts predict that Skechers U.S.A., Inc. will post 4.06 EPS for the current fiscal year.

About Skechers U.S.A.

(Free Report)

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.

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Institutional Ownership by Quarter for Skechers U.S.A. (NYSE:SKX)

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