Ensign Peak Advisors Inc Trims Position in Skechers U.S.A., Inc. (NYSE:SKX)

Ensign Peak Advisors Inc lessened its position in Skechers U.S.A., Inc. (NYSE:SKX - Free Report) by 81.4% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 58,839 shares of the textile maker's stock after selling 257,935 shares during the period. Ensign Peak Advisors Inc's holdings in Skechers U.S.A. were worth $3,956,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in the company. NewEdge Advisors LLC boosted its stake in shares of Skechers U.S.A. by 85.2% during the 4th quarter. NewEdge Advisors LLC now owns 413 shares of the textile maker's stock valued at $28,000 after purchasing 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 valued at $29,000 after purchasing 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 valued at $46,000 after purchasing an additional 239 shares in the last quarter. IFP Advisors Inc boosted its stake 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 purchasing an additional 317 shares in the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. bought a new stake in shares of Skechers U.S.A. during the 4th quarter valued at about $65,000. Institutional investors own 79.96% of the company's stock.

Insider Buying and Selling

In other news, CEO Robert Greenberg sold 40,924 shares of the stock in a transaction on Monday, March 3rd. The shares were sold at an average price of $60.76, for a total value of $2,486,542.24. Following the sale, the chief executive officer now owns 51,342 shares of the company's stock, valued at approximately $3,119,539.92. This represents a 44.35% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, General Counsel Phillip Paccione sold 10,994 shares of the stock in a transaction on Monday, March 3rd. The shares were sold at an average price of $56.63, for a total transaction of $622,590.22. Following the completion of the sale, the general counsel now directly owns 15,000 shares in the company, valued at approximately $849,450. This represents a 42.29% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 129,645 shares of company stock worth $7,895,910. 24.78% of the stock is owned by insiders.

Analyst Ratings Changes

A number of research analysts recently issued reports on SKX shares. 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 research report on Tuesday, May 6th. 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 research report on Tuesday, May 6th. Morgan Stanley reissued an "equal weight" rating and set a $63.00 price target (down from $73.00) on shares of Skechers U.S.A. in a research report on Wednesday, May 7th. Raymond James cut shares of Skechers U.S.A. from a "moderate buy" rating to a "hold" rating in a research report on Monday, May 5th. Finally, Stifel Nicolaus lowered their price target on shares of Skechers U.S.A. from $80.00 to $62.00 and set a "buy" rating for the company in a research report on Thursday, April 10th. One equities 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 stock. According to MarketBeat.com, the stock currently has an average rating of "Hold" and an average target price of $70.00.

Skechers U.S.A. Price Performance

Shares of NYSE:SKX traded up $0.01 during midday trading on Friday, reaching $62.10. 4,342,452 shares of the company were exchanged, compared to its average volume of 3,038,350. 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 business's fifty day moving average is $53.86 and its two-hundred day moving average is $62.10. Skechers U.S.A., Inc. has a one year low of $44.50 and a one year high of $78.85. The stock has a market cap of $9.29 billion, a PE ratio of 14.96, 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 issued its earnings results on Thursday, April 24th. The textile maker reported $1.34 earnings per share for the quarter, topping analysts' consensus estimates of $1.17 by $0.17. Skechers U.S.A. had a net margin of 7.13% and a return on equity of 13.73%. The firm had revenue of $2.41 billion during the quarter, compared to analyst estimates of $2.43 billion. During the same quarter in the prior year, the business earned $1.33 earnings per share. Skechers U.S.A.'s revenue for the quarter was up 7.1% on a year-over-year basis. As a group, analysts predict that Skechers U.S.A., Inc. will post 4.47 earnings per share for the current year.

Skechers U.S.A. 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.