Kera Capital Partners Inc. Invests $233,000 in Skechers U.S.A., Inc. (NYSE:SKX)

Kera Capital Partners Inc. purchased a new stake in Skechers U.S.A., Inc. (NYSE:SKX) in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm purchased 3,471 shares of the textile maker’s stock, valued at approximately $233,000.

Other institutional investors have also recently bought and sold shares of the company. Pacer Advisors Inc. boosted its holdings in shares of Skechers U.S.A. by 5,780.6% in 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 position 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 valued at $148,395,000 after acquiring an additional 11,026 shares in the last quarter. Dimensional Fund Advisors LP boosted its stake in Skechers U.S.A. by 3.0% in the 2nd quarter. Dimensional Fund Advisors LP now owns 1,885,723 shares of the textile maker’s stock worth $130,350,000 after purchasing an additional 55,095 shares during the period. Charles Schwab Investment Management Inc. boosted its stake in 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 purchasing an additional 17,429 shares during the period. Finally, Wellington Management Group LLP grew its position in 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 in the last quarter. Hedge funds and other institutional investors own 79.96% of the company’s stock.

Insider Transactions at Skechers U.S.A.

In related news, COO David Weinberg sold 8,219 shares of the stock in a transaction dated Tuesday, December 31st. The shares were sold at an average price of $67.48, for a total value of $554,618.12. Following the completion of the sale, the chief operating officer now owns 122,211 shares in the company, valued at approximately $8,246,798.28. This trade represents a 6.30 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, President Michael Greenberg sold 10,274 shares of the company’s stock in a transaction that occurred on Tuesday, December 31st. The shares were sold at an average price of $67.48, for a total value of $693,289.52. Following the completion of the transaction, the president now directly owns 149,327 shares of the company’s stock, valued at approximately $10,076,585.96. This trade represents a 6.44 % decrease in their position. The disclosure for this sale can be found here. 24.75% of the stock is currently owned by corporate insiders.

Skechers U.S.A. Stock Performance

Shares of SKX opened at $70.09 on Friday. The company has a debt-to-equity ratio of 0.01, a current ratio of 1.96 and a quick ratio of 1.25. Skechers U.S.A., Inc. has a one year low of $55.67 and a one year high of $75.09. The company’s fifty day moving average price is $66.81 and its 200 day moving average price is $65.65. The company has a market capitalization of $10.58 billion, a PE ratio of 17.26, a price-to-earnings-growth ratio of 0.86 and a beta of 1.19.

Skechers U.S.A. (NYSE:SKX) last posted its quarterly earnings data on Thursday, October 24th. The textile maker reported $1.26 earnings per share for the quarter, topping the consensus estimate of $1.15 by $0.11. The business had revenue of $2.35 billion during the quarter, compared to analysts’ expectations of $2.31 billion. Skechers U.S.A. had a return on equity of 13.71% and a net margin of 7.19%. The firm’s revenue was up 16.0% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.93 EPS. As a group, analysts expect that Skechers U.S.A., Inc. will post 4.24 earnings per share for the current year.

Analysts Set New Price Targets

Several brokerages have recently commented on SKX. Needham & Company LLC assumed coverage on Skechers U.S.A. in a research report on Friday, November 22nd. They issued a “hold” rating for the company. Piper Sandler began coverage on shares of Skechers U.S.A. in a research report on Tuesday, December 10th. They issued a “neutral” rating and a $65.00 target price for the company. Morgan Stanley increased their price objective on Skechers U.S.A. from $81.00 to $84.00 and gave the stock an “overweight” rating in a report on Friday, October 25th. Deutsche Bank Aktiengesellschaft upped their target price on Skechers U.S.A. from $83.00 to $84.00 and gave the stock a “buy” rating in a research report on Friday, October 25th. Finally, TD Cowen increased their price objective on Skechers U.S.A. from $88.00 to $93.00 and gave the stock a “buy” rating in a report on Wednesday, January 8th. Three analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Skechers U.S.A. has a consensus rating of “Moderate Buy” and a consensus price target of $79.00.

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.