Mackenzie Financial Corp Reduces Holdings in Skechers U.S.A., Inc. (NYSE:SKX)

Mackenzie Financial Corp reduced its stake in shares of Skechers U.S.A., Inc. (NYSE:SKX - Free Report) by 2.6% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 346,754 shares of the textile maker's stock after selling 9,105 shares during the quarter. Mackenzie Financial Corp owned 0.23% of Skechers U.S.A. worth $23,316,000 at the end of the most recent quarter.

Several other large investors have also recently modified their holdings of the stock. Norges Bank bought a new stake in Skechers U.S.A. in the fourth quarter valued at approximately $105,741,000. Duquesne Family Office LLC bought a new stake in Skechers U.S.A. during the 4th quarter valued at $72,272,000. Two Sigma Investments LP boosted its position in Skechers U.S.A. by 772.7% during the 4th quarter. Two Sigma Investments LP now owns 1,176,488 shares of the textile maker's stock valued at $79,107,000 after buying an additional 1,041,677 shares during the period. Anomaly Capital Management LP grew its holdings in Skechers U.S.A. by 51.2% in the 4th quarter. Anomaly Capital Management LP now owns 2,989,015 shares of the textile maker's stock worth $200,981,000 after acquiring an additional 1,011,815 shares during the last quarter. Finally, Bank of New York Mellon Corp grew 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 worth $155,209,000 after acquiring an additional 953,528 shares during the last quarter. Hedge funds and other institutional investors own 79.96% of the company's stock.

Analyst Ratings Changes

Several research firms recently issued reports on SKX. Morgan Stanley reissued an "equal weight" rating and issued a $63.00 target price (down from $73.00) on shares of Skechers U.S.A. in a research note on Wednesday, May 7th. Evercore ISI reduced their target price on Skechers U.S.A. from $78.00 to $60.00 and set an "outperform" rating on the stock in a research note on Thursday, April 17th. TD Cowen lowered Skechers U.S.A. from a "buy" rating to a "hold" rating and set a $63.00 price target for the company. in a research note on Wednesday. Bank of America cut their price target on shares of Skechers U.S.A. from $76.00 to $70.00 and set a "buy" rating on the stock in a report on Monday, March 24th. Finally, Wall Street Zen assumed coverage on shares of Skechers U.S.A. in a research report on Thursday, May 22nd. They set a "sell" rating on the stock. One research analyst has rated the stock with a sell rating, eight have issued a hold rating and six have issued a buy rating to the company's stock. According to data from MarketBeat.com, Skechers U.S.A. currently has a consensus rating of "Hold" and a consensus target price of $67.69.

Insider Activity at Skechers U.S.A.

In other news, CEO Robert Greenberg sold 40,924 shares of the firm's stock in a transaction dated Monday, March 3rd. The shares were sold at an average price of $60.76, for a total transaction of $2,486,542.24. Following the sale, the chief executive officer now owns 51,342 shares of the company's stock, valued at $3,119,539.92. This trade represents a 44.35% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CFO John M. Vandemore sold 5,112 shares of the business'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 transaction of $310,605.12. Following the transaction, 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 ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 117,599 shares of company stock valued at $7,099,910 over the last ninety days. Insiders own 24.78% of the company's stock.

Skechers U.S.A. Stock Up 0.0%

Skechers U.S.A. stock traded up $0.02 during trading hours on Friday, hitting $62.05. The stock had a trading volume of 6,572,125 shares, compared to its average volume of 3,246,025. The stock's 50-day moving average price is $54.88 and its 200-day moving average price is $62.11. The stock has a market capitalization of $9.28 billion, a P/E ratio of 14.95, a price-to-earnings-growth ratio of 1.11 and a beta of 1.06. Skechers U.S.A., Inc. has a 12-month low of $44.50 and a 12-month 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.

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

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.