Swiss National Bank Has $17.58 Million Stock Holdings in Skechers U.S.A., Inc. (NYSE:SKX)

Swiss National Bank grew its position in Skechers U.S.A., Inc. (NYSE:SKX) by 1.1% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm owned 261,500 shares of the textile maker’s stock after purchasing an additional 2,900 shares during the period. Swiss National Bank’s holdings in Skechers U.S.A. were worth $17,583,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. UMB Bank n.a. increased its position in shares of Skechers U.S.A. by 53.1% during the fourth quarter. UMB Bank n.a. now owns 689 shares of the textile maker’s stock worth $46,000 after acquiring an additional 239 shares in the last quarter. IFP Advisors Inc increased its position in shares of Skechers U.S.A. by 62.4% during the fourth quarter. IFP Advisors Inc now owns 825 shares of the textile maker’s stock worth $55,000 after acquiring an additional 317 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. bought a new stake in shares of Skechers U.S.A. during the fourth quarter worth $65,000. Brooklyn Investment Group bought a new stake in shares of Skechers U.S.A. during the third quarter worth $67,000. Finally, Blue Trust Inc. increased its position in shares of Skechers U.S.A. by 20.7% during the fourth quarter. Blue Trust Inc. now owns 1,208 shares of the textile maker’s stock worth $81,000 after acquiring an additional 207 shares in the last quarter. 79.96% of the stock is currently owned by institutional investors and hedge funds.

Skechers U.S.A. Stock Performance

Shares of SKX opened at $57.10 on Wednesday. The firm has a 50-day moving average of $66.32 and a 200-day moving average of $65.74. Skechers U.S.A., Inc. has a one year low of $53.79 and a one year high of $78.85. The company has a market cap of $8.53 billion, a PE ratio of 13.76, a price-to-earnings-growth ratio of 1.11 and a beta of 1.21. The company has a debt-to-equity ratio of 0.01, a current ratio of 1.97 and a quick ratio of 1.12.

Skechers U.S.A. (NYSE:SKX) last announced its quarterly earnings data on Thursday, February 6th. The textile maker reported $0.65 EPS for the quarter, missing analysts’ consensus estimates of $0.73 by ($0.08). Skechers U.S.A. had a net margin of 7.13% and a return on equity of 13.73%. As a group, equities analysts forecast that Skechers U.S.A., Inc. will post 4.47 earnings per share for the current year.

Wall Street Analysts Forecast Growth

SKX has been the subject of several research reports. Needham & Company LLC reissued a “hold” rating on shares of Skechers U.S.A. in a research report on Friday, February 7th. TD Cowen increased their price objective on shares of Skechers U.S.A. from $88.00 to $93.00 and gave the stock a “buy” rating in a research report on Wednesday, January 8th. Raymond James decreased their target price on shares of Skechers U.S.A. from $80.00 to $75.00 and set an “outperform” rating for the company in a research report on Friday, February 7th. Piper Sandler initiated 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. Finally, UBS Group decreased their target price on shares of Skechers U.S.A. from $92.00 to $90.00 and set a “buy” rating for the company in a research report on Friday, February 7th. Three equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. Based on data from MarketBeat.com, Skechers U.S.A. presently has an average rating of “Moderate Buy” and a consensus price target of $81.25.

Insider Activity

In other news, CEO Robert Greenberg sold 52,600 shares of the firm’s stock in a transaction dated Wednesday, February 12th. The shares were sold at an average price of $62.72, for a total transaction of $3,299,072.00. Following the completion of the sale, the chief executive officer now owns 61,367 shares in the company, valued at approximately $3,848,938.24. This trade represents a 46.15 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, General Counsel Phillip Paccione sold 10,994 shares of the firm’s stock in a transaction dated Monday, March 3rd. The stock was sold at an average price of $56.63, for a total transaction of $622,590.22. Following the sale, the general counsel now owns 15,000 shares of the company’s stock, valued at approximately $849,450. This represents a 42.29 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 236,738 shares of company stock valued at $14,700,809 in the last quarter. Company insiders own 24.75% of the company’s stock.

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.