Wellington Management Group LLP Buys 64,857 Shares of Skechers U.S.A., Inc. (NYSE:SKX)

Wellington Management Group LLP grew its holdings in Skechers U.S.A., Inc. (NYSE:SKX - Free Report) by 6.3% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 1,090,413 shares of the textile maker's stock after acquiring an additional 64,857 shares during the quarter. Wellington Management Group LLP owned 0.73% of Skechers U.S.A. worth $73,319,000 at the end of the most recent reporting period.

Several other large investors also recently modified their holdings of the business. NewEdge Advisors LLC lifted its position in shares of Skechers U.S.A. by 85.2% in the fourth quarter. NewEdge Advisors LLC now owns 413 shares of the textile maker's stock valued at $28,000 after buying an additional 190 shares during the last quarter. TD Private Client Wealth LLC lifted its position in shares of Skechers U.S.A. by 534.3% in the fourth quarter. TD Private Client Wealth LLC now owns 425 shares of the textile maker's stock valued at $29,000 after buying an additional 358 shares during the last quarter. Investment Management Corp VA ADV acquired a new stake in shares of Skechers U.S.A. in the fourth quarter valued at approximately $32,000. IFP Advisors Inc lifted its position in shares of Skechers U.S.A. by 62.4% in the fourth quarter. IFP Advisors Inc now owns 825 shares of the textile maker's stock valued at $55,000 after buying an additional 317 shares during the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. acquired a new stake in shares of Skechers U.S.A. in the fourth quarter valued at approximately $65,000. 79.96% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In related news, COO David Weinberg sold 26,913 shares of the business's stock in a transaction dated Monday, March 3rd. The stock was sold at an average price of $60.76, for a total value of $1,635,233.88. Following the completion of the sale, the chief operating officer now directly owns 44,637 shares of the company's stock, valued at $2,712,144.12. The trade was a 37.61% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, General Counsel Phillip Paccione sold 10,994 shares of the business's stock in a transaction dated Monday, March 3rd. The shares were sold at an average price of $56.63, for a total value of $622,590.22. Following the completion of the sale, the general counsel now directly owns 15,000 shares of the company's stock, valued at $849,450. The trade was a 42.29% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 117,599 shares of company stock valued at $7,099,910. 24.78% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

Several analysts recently weighed in on SKX shares. Stifel Nicolaus dropped their price target on Skechers U.S.A. from $80.00 to $62.00 and set a "buy" rating for the company in a report on Thursday, April 10th. UBS Group reissued a "neutral" rating and set a $63.00 price target (down from $64.00) on shares of Skechers U.S.A. in a report on Tuesday, May 6th. Barclays reissued an "equal weight" rating and set a $63.00 price target (up from $53.00) on shares of Skechers U.S.A. in a report on Tuesday, May 6th. Bank of America dropped their price target on Skechers U.S.A. from $76.00 to $70.00 and set a "buy" rating for the company in a report on Monday, March 24th. Finally, Evercore ISI lowered their price objective 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. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating and six have given a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of "Hold" and a consensus price target of $67.69.

Skechers U.S.A. Price Performance

Shares of SKX traded up $0.02 during midday trading on Friday, hitting $62.05. The company's stock had a trading volume of 6,572,125 shares, compared to its average volume of 3,246,025. Skechers U.S.A., Inc. has a one year low of $44.50 and a one year high of $78.85. The company's fifty day simple moving average is $54.88 and its two-hundred day simple moving average is $62.11. 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 stock 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.

Skechers U.S.A. (NYSE:SKX - Get Free Report) last released its quarterly earnings data 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. 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 for the quarter, compared to the consensus estimate of $2.43 billion. During the same quarter last year, the business posted $1.33 EPS. Skechers U.S.A.'s revenue for the quarter was up 7.1% on a year-over-year basis. As a group, equities analysts expect that Skechers U.S.A., Inc. will post 4.47 earnings per share 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.