Fiduciary Management Inc. WI Sells 15,829 Shares of Skechers U.S.A., Inc. (NYSE:SKX)

Fiduciary Management Inc. WI cut its position in Skechers U.S.A., Inc. (NYSE:SKX - Free Report) by 0.6% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 2,509,778 shares of the textile maker's stock after selling 15,829 shares during the period. Skechers U.S.A. makes up about 1.6% of Fiduciary Management Inc. WI's investment portfolio, making the stock its 24th largest holding. Fiduciary Management Inc. WI owned about 1.66% of Skechers U.S.A. worth $168,757,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the company. Norges Bank bought a new position in Skechers U.S.A. in the 4th quarter valued at approximately $105,741,000. Bank of New York Mellon Corp raised its stake in shares of Skechers U.S.A. by 70.4% in the fourth quarter. Bank of New York Mellon Corp now owns 2,308,283 shares of the textile maker's stock worth $155,209,000 after purchasing an additional 953,528 shares during the last quarter. Rockefeller Capital Management L.P. boosted its position in shares of Skechers U.S.A. by 545.2% during the fourth quarter. Rockefeller Capital Management L.P. now owns 332,813 shares of the textile maker's stock valued at $22,378,000 after buying an additional 281,234 shares during the last quarter. Vaughan Nelson Investment Management L.P. boosted its position in shares of Skechers U.S.A. by 68.3% during the fourth quarter. Vaughan Nelson Investment Management L.P. now owns 623,745 shares of the textile maker's stock valued at $41,940,000 after buying an additional 253,045 shares during the last quarter. Finally, Raymond James Financial Inc. purchased a new position in Skechers U.S.A. in the 4th quarter worth about $12,852,000. Institutional investors own 79.96% of the company's stock.

Insider Activity

In related news, COO David Weinberg sold 36,000 shares of the business's stock in a transaction dated Wednesday, February 12th. The stock was sold at an average price of $62.72, for a total value of $2,257,920.00. Following the sale, the chief operating officer now directly owns 54,499 shares in the company, valued at approximately $3,418,177.28. The trade was a 39.78 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, 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 value of $3,299,072.00. Following the transaction, the chief executive officer now owns 61,367 shares of the company's stock, valued at $3,848,938.24. This represents a 46.15 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 218,245 shares of company stock worth $13,452,902 over the last quarter. Insiders own 24.75% of the company's stock.

Skechers U.S.A. Price Performance

Shares of SKX traded up $1.97 during mid-day trading on Thursday, reaching $50.85. The stock had a trading volume of 1,923,708 shares, compared to its average volume of 2,896,573. The business has a fifty day moving average of $55.47 and a 200 day moving average of $62.94. The company has a debt-to-equity ratio of 0.01, a quick ratio of 1.12 and a current ratio of 1.97. The firm has a market cap of $7.59 billion, a price-to-earnings ratio of 12.27, a PEG ratio of 1.11 and a beta of 1.08. Skechers U.S.A., Inc. has a 12 month low of $44.50 and a 12 month high of $78.85.

Skechers U.S.A. (NYSE:SKX - Get Free Report) last posted its quarterly earnings results on Thursday, February 6th. The textile maker reported $0.65 EPS for the quarter, missing analysts' consensus estimates of $0.73 by ($0.08). Skechers U.S.A. had a net margin of 7.13% and a return on equity of 13.73%. Equities analysts predict that Skechers U.S.A., Inc. will post 4.47 EPS for the current year.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on SKX. UBS Group dropped their price target on shares of Skechers U.S.A. from $65.00 to $64.00 and set a "buy" rating on the stock in a report on Monday, April 14th. Stifel Nicolaus cut their target price 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. Needham & Company LLC reissued a "hold" rating on shares of Skechers U.S.A. in a report on Tuesday. Evercore ISI reduced their price objective on 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. Finally, Barclays cut their price target on Skechers U.S.A. from $80.00 to $77.00 and set an "overweight" rating for the company in a research note on Monday, February 10th. Three investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $74.67.

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.