Skechers U.S.A., Inc. (NYSE:SKX) Shares Sold by Brandywine Global Investment Management LLC

Brandywine Global Investment Management LLC lowered its stake in shares of Skechers U.S.A., Inc. (NYSE:SKX) by 6.9% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 80,185 shares of the textile maker’s stock after selling 5,950 shares during the period. Brandywine Global Investment Management LLC’s holdings in Skechers U.S.A. were worth $5,392,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in SKX. Vanguard Group Inc. boosted its position in shares of Skechers U.S.A. by 0.7% during the 4th quarter. Vanguard Group Inc. now owns 12,544,233 shares of the textile maker’s stock valued at $843,474,000 after acquiring an additional 82,143 shares during the last quarter. Bank of New York Mellon Corp boosted its holdings in Skechers U.S.A. by 70.4% in the 4th quarter. Bank of New York Mellon Corp now owns 2,308,283 shares of the textile maker’s stock valued at $155,209,000 after purchasing an additional 953,528 shares during the last quarter. Geode Capital Management LLC grew its stake 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 buying an additional 11,026 shares during the period. Norges Bank purchased a new stake in shares of Skechers U.S.A. in the 4th quarter valued at approximately $105,741,000. Finally, Wellington Management Group LLP increased its holdings in shares of 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 buying an additional 287,939 shares during the last quarter. 79.96% of the stock is currently owned by hedge funds and other institutional investors.

Skechers U.S.A. Stock Up 1.2 %

Skechers U.S.A. stock opened at $57.47 on Wednesday. The firm has a market capitalization of $8.58 billion, a P/E ratio of 13.85, a P/E/G ratio of 1.11 and a beta of 1.21. The stock’s fifty day simple moving average is $63.69 and its 200-day simple moving average is $65.07. Skechers U.S.A., Inc. has a twelve month low of $53.79 and a twelve month high of $78.85. The company has a current ratio of 1.97, a quick ratio of 1.12 and a debt-to-equity ratio of 0.01.

Skechers U.S.A. (NYSE:SKX) last posted its quarterly earnings results on Thursday, February 6th. The textile maker reported $0.65 earnings per share (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 expect that Skechers U.S.A., Inc. will post 4.47 earnings per share for the current fiscal year.

Insider Activity at Skechers U.S.A.

In related news, CEO Robert Greenberg sold 52,600 shares of the stock in a transaction on Wednesday, February 12th. The stock was sold at an average price of $62.72, for a total value of $3,299,072.00. Following the transaction, the chief executive officer now owns 61,367 shares of the company’s stock, valued at $3,848,938.24. This represents a 46.15 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, COO David Weinberg sold 36,000 shares of Skechers U.S.A. stock in a transaction dated Wednesday, February 12th. The stock was sold at an average price of $62.72, for a total value of $2,257,920.00. Following the sale, the chief operating officer now directly owns 54,499 shares of the company’s stock, valued at $3,418,177.28. This trade represents a 39.78 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 218,245 shares of company stock valued at $13,452,902 over the last 90 days. 24.75% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

SKX has been the subject of several analyst reports. UBS Group lowered their price objective on 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. Evercore ISI increased their price target on Skechers U.S.A. from $72.00 to $85.00 and gave the stock an “outperform” rating in a report on Tuesday, January 28th. StockNews.com cut shares of Skechers U.S.A. from a “buy” rating to a “hold” rating in a research report on Monday, February 10th. Bank of America lowered their target price on shares of Skechers U.S.A. from $76.00 to $70.00 and set a “buy” rating for the company in a research note on Monday, March 24th. Finally, Stifel Nicolaus decreased their price objective on shares of Skechers U.S.A. from $83.00 to $80.00 and set a “buy” rating on the stock in a report on Friday, February 7th. Three investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $80.42.

About Skechers U.S.A.

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.