Peak Retirement Planning Inc. Buys New Stake in Skechers U.S.A., Inc. (NYSE:SKX)

Peak Retirement Planning Inc. bought a new stake in Skechers U.S.A., Inc. (NYSE:SKX - Free Report) during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor bought 14,168 shares of the textile maker's stock, valued at approximately $953,000.

Other hedge funds also recently modified their holdings of the company. NewEdge Advisors LLC boosted its stake in Skechers U.S.A. by 85.2% in the 4th quarter. NewEdge Advisors LLC now owns 413 shares of the textile maker's stock worth $28,000 after buying an additional 190 shares during the last quarter. TD Private Client Wealth LLC lifted its holdings 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 during the period. Investment Management Corp VA ADV acquired a new stake in shares of Skechers U.S.A. in the fourth quarter worth approximately $32,000. UMB Bank n.a. grew its holdings in Skechers U.S.A. by 53.1% in the fourth quarter. UMB Bank n.a. now owns 689 shares of the textile maker's stock valued at $46,000 after purchasing an additional 239 shares during the period. Finally, IFP Advisors Inc increased its position in 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 purchasing an additional 317 shares during the last quarter. 79.96% of the stock is owned by institutional investors and hedge funds.

Skechers U.S.A. Trading Up 0.3%

Shares of Skechers U.S.A. stock traded up $0.17 on Tuesday, reaching $62.04. 8,533,602 shares of the company were exchanged, compared to its average volume of 3,180,421. Skechers U.S.A., Inc. has a fifty-two week low of $44.50 and a fifty-two week high of $78.85. The firm has a market capitalization of $9.28 billion, a price-to-earnings ratio of 14.95, a price-to-earnings-growth ratio of 1.11 and a beta of 1.06. The company has a current ratio of 1.97, a quick ratio of 1.12 and a debt-to-equity ratio of 0.01. The stock has a fifty day moving average price of $54.48 and a 200-day moving average price of $62.09.

Skechers U.S.A. (NYSE:SKX - Get Free Report) last posted its quarterly earnings data on Thursday, April 24th. The textile maker reported $1.34 earnings per share (EPS) for the quarter, topping 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 firm had revenue of $2.41 billion for the quarter, compared to the consensus estimate of $2.43 billion. During the same quarter in the previous year, the company earned $1.33 EPS. The business's revenue for the quarter was up 7.1% compared to the same quarter last year. On average, analysts expect that Skechers U.S.A., Inc. will post 4.47 EPS for the current year.

Insider Activity at Skechers U.S.A.

In other news, COO David Weinberg sold 26,913 shares of the company's stock in a transaction on Monday, March 3rd. The shares were sold at an average price of $60.76, for a total value of $1,635,233.88. Following the transaction, the chief operating officer now directly owns 44,637 shares of the company's stock, valued at approximately $2,712,144.12. This represents a 37.61% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CFO John M. Vandemore sold 5,112 shares of the company's stock in a transaction that occurred on Monday, March 3rd. The stock was sold at an average price of $60.76, for a total value of $310,605.12. Following the sale, the chief financial officer now directly owns 83,328 shares of the company's stock, valued at $5,063,009.28. The trade was a 5.78% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 117,599 shares of company stock worth $7,099,910. 24.78% of the stock is owned by corporate insiders.

Analyst Ratings Changes

SKX has been the topic of several research analyst reports. UBS Group reaffirmed a "neutral" rating and issued a $63.00 price objective (down from $64.00) on shares of Skechers U.S.A. in a research note on Tuesday, May 6th. Evercore ISI decreased their price target on shares of Skechers U.S.A. from $78.00 to $60.00 and set an "outperform" rating for the company in a research report on Thursday, April 17th. Morgan Stanley reaffirmed 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 report on Wednesday, May 7th. Wall Street Zen started coverage on shares of Skechers U.S.A. in a research note on Thursday, May 22nd. They set a "sell" rating for the company. Finally, Wells Fargo & Company raised 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 research report on Tuesday, May 6th. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of "Hold" and an average price target of $70.00.

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.