Skechers U.S.A., Inc. (NYSE:SKX) Shares Purchased by DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main

DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main lifted its position in shares of Skechers U.S.A., Inc. (NYSE:SKX - Free Report) by 5.8% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 77,761 shares of the textile maker's stock after purchasing an additional 4,257 shares during the quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main owned 0.05% of Skechers U.S.A. worth $5,229,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. NewEdge Advisors LLC boosted its holdings in Skechers U.S.A. by 85.2% during the fourth quarter. NewEdge Advisors LLC now owns 413 shares of the textile maker's stock worth $28,000 after buying an additional 190 shares in the last quarter. TD Private Client Wealth LLC boosted its stake in shares of Skechers U.S.A. by 534.3% during the 4th quarter. TD Private Client Wealth LLC now owns 425 shares of the textile maker's stock worth $29,000 after acquiring an additional 358 shares in the last quarter. UMB Bank n.a. boosted its stake in shares of Skechers U.S.A. by 53.1% during the 4th 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 grew its position in shares of Skechers U.S.A. by 62.4% during the 4th quarter. IFP Advisors Inc now owns 825 shares of the textile maker's stock valued at $55,000 after acquiring an additional 317 shares during the period. Finally, Mirae Asset Global Investments Co. Ltd. purchased a new position in shares of Skechers U.S.A. in the 4th quarter valued at about $65,000. 79.96% of the stock is owned by hedge funds and other institutional investors.

Skechers U.S.A. Price Performance

SKX traded up $0.98 during trading on Monday, reaching $62.47. The company's stock had a trading volume of 12,872,425 shares, compared to its average volume of 2,957,311. Skechers U.S.A., Inc. has a 1 year low of $44.50 and a 1 year high of $78.85. The company has a quick ratio of 1.12, a current ratio of 1.97 and a debt-to-equity ratio of 0.01. The company has a market cap of $9.33 billion, a price-to-earnings ratio of 15.05, a PEG ratio of 1.11 and a beta of 1.06. The firm has a fifty day simple moving average of $53.46 and a two-hundred day simple moving average of $62.09.

Skechers U.S.A. (NYSE:SKX - Get Free Report) last issued its earnings results on Thursday, April 24th. The textile maker reported $1.34 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.17 by $0.17. Skechers U.S.A. had a return on equity of 13.73% and a net margin of 7.13%. The company had revenue of $2.41 billion during the quarter, compared to analysts' expectations of $2.43 billion. During the same period in the prior year, the business earned $1.33 EPS. The firm's quarterly revenue was up 7.1% on a year-over-year basis. As a group, analysts anticipate that Skechers U.S.A., Inc. will post 4.47 EPS for the current year.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on the company. UBS Group reiterated a "neutral" rating and set a $63.00 price target (down previously from $64.00) on shares of Skechers U.S.A. in a research report on Tuesday, May 6th. Morgan Stanley reiterated an "equal weight" rating and set a $63.00 target price (down previously from $73.00) on shares of Skechers U.S.A. in a research report on Wednesday, May 7th. Wells Fargo & Company boosted their price target on shares of Skechers U.S.A. from $57.00 to $63.00 and gave the stock an "overweight" rating in a report on Tuesday, May 6th. Needham & Company LLC restated a "hold" rating on shares of Skechers U.S.A. in a research report on Tuesday, April 22nd. Finally, Evercore ISI dropped their target price on shares of Skechers U.S.A. from $78.00 to $60.00 and set an "outperform" rating on the stock in a research report on Thursday, April 17th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus target price of $70.00.

Insider Activity at Skechers U.S.A.

In other news, CEO Robert Greenberg sold 52,600 shares of the firm's stock in a transaction that occurred on 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 $3,848,938.24. This trade represents a 46.15% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO John M. Vandemore sold 5,112 shares of the company's stock in a transaction that occurred on Monday, March 3rd. The shares were sold at an average price of $60.76, for a total value of $310,605.12. Following the completion of the transaction, the chief financial officer now owns 83,328 shares in the company, valued at $5,063,009.28. This represents a 5.78% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 218,245 shares of company stock valued at $13,452,902. 24.78% of the stock is owned by company insiders.

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.