Bfsg LLC Grows Stock Position in Skechers U.S.A., Inc. (NYSE:SKX)

Bfsg LLC lifted its stake in Skechers U.S.A., Inc. (NYSE:SKX) by 2.9% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 6,545 shares of the textile maker’s stock after buying an additional 186 shares during the period. Bfsg LLC’s holdings in Skechers U.S.A. were worth $408,000 as of its most recent SEC filing.

Other large investors have also recently modified their holdings of the company. Raymond James & Associates increased its holdings in 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 valued at $3,259,000 after purchasing an additional 40,778 shares during the period. Lecap Asset Management Ltd. purchased a new position in Skechers U.S.A. during the 4th quarter valued at about $1,798,000. Vaughan Nelson Investment Management L.P. increased its holdings in Skechers U.S.A. by 371.8% during 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 purchasing an additional 597,702 shares during the period. Envestnet Asset Management Inc. increased its holdings in 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 valued at $4,720,000 after purchasing an additional 34,926 shares during the period. Finally, Hsbc Holdings PLC increased its holdings in 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 purchasing an additional 53,962 shares during the period. Hedge funds and other institutional investors own 79.96% of the company’s stock.

Skechers U.S.A. Stock Down 0.8 %

Shares of SKX traded down $0.49 during mid-day trading on Wednesday, reaching $59.15. The company had a trading volume of 2,123,583 shares, compared to its average volume of 1,636,164. The company has a debt-to-equity ratio of 0.06, a quick ratio of 1.46 and a current ratio of 2.38. The firm has a 50-day moving average price of $59.65 and a 200 day moving average price of $57.90. Skechers U.S.A., Inc. has a 52 week low of $45.58 and a 52 week high of $65.17. The company has a market capitalization of $9.07 billion, a price-to-earnings ratio of 17.09, a price-to-earnings-growth ratio of 1.05 and a beta of 1.32.

Skechers U.S.A. (NYSE:SKX) last issued its quarterly earnings results on Thursday, February 1st. The textile maker reported $0.56 EPS for the quarter, topping analysts’ consensus estimates of $0.52 by $0.04. Skechers U.S.A. had a return on equity of 12.89% and a net margin of 6.82%. The firm had revenue of $1.96 billion for the quarter, compared to analysts’ expectations of $2.03 billion. During the same period in the previous year, the firm posted $0.48 EPS. The business’s revenue for the quarter was up 4.4% compared to the same quarter last year. On average, sell-side analysts forecast that Skechers U.S.A., Inc. will post 3.81 EPS for the current year.

Insider Activity at Skechers U.S.A.

In related news, President Michael Greenberg sold 25,282 shares of the company’s stock in a transaction that occurred on 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 transaction, the president now directly owns 123,441 shares of the company’s stock, valued at approximately $7,543,479.51. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, President Michael Greenberg sold 25,282 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 $1,544,983.02. Following the completion of the sale, the president now directly owns 123,441 shares in the company, valued at approximately $7,543,479.51. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, COO David Weinberg sold 67,390 shares of the stock in a transaction on Thursday, February 8th. The stock was sold at an average price of $57.87, for a total value of $3,899,859.30. Following the completion of the sale, the chief operating officer now owns 141,405 shares of the company’s stock, valued at approximately $8,183,107.35. The disclosure for this sale can be found here. In the last three months, insiders have sold 254,875 shares of company stock valued at $15,021,192. 24.75% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

SKX has been the topic of a number of research analyst reports. Evercore ISI reduced their price target on Skechers U.S.A. from $73.00 to $68.00 and set an “outperform” rating on the stock in a report on Wednesday, April 17th. Stifel Nicolaus reduced their price target on Skechers U.S.A. from $72.00 to $70.00 and set a “buy” rating on the stock in a report on Friday, February 2nd. Raymond James cut their price objective on Skechers U.S.A. from $68.00 to $66.00 and set an “outperform” rating on the stock in a research report on Monday, February 5th. Wedbush reaffirmed an “outperform” rating and set a $68.00 price objective on shares of Skechers U.S.A. in a research report on Friday, April 19th. Finally, TD Cowen lifted their price objective on Skechers U.S.A. from $70.00 to $74.00 and gave the company a “buy” rating in a research report on Wednesday, March 6th. Two equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $66.17.

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.