Voya Investment Management LLC Reduces Stock Position in Skechers U.S.A., Inc. (NYSE:SKX)

Voya Investment Management LLC lowered its stake in shares of Skechers U.S.A., Inc. (NYSE:SKX - Free Report) by 6.7% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 126,241 shares of the textile maker's stock after selling 9,126 shares during the period. Voya Investment Management LLC owned 0.08% of Skechers U.S.A. worth $8,488,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in the stock. Vanguard Group Inc. lifted its position in shares of Skechers U.S.A. by 0.7% during the fourth quarter. Vanguard Group Inc. now owns 12,544,233 shares of the textile maker's stock worth $843,474,000 after acquiring an additional 82,143 shares in the last quarter. Anomaly Capital Management LP lifted its position in shares of Skechers U.S.A. by 51.2% during the fourth 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 in the last quarter. Bank of New York Mellon Corp increased its holdings 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 period. Geode Capital Management LLC increased its holdings in shares of Skechers U.S.A. by 3.5% in the fourth quarter. Geode Capital Management LLC now owns 2,294,976 shares of the textile maker's stock worth $154,361,000 after purchasing an additional 78,071 shares during the period. Finally, Dimensional Fund Advisors LP increased its holdings in shares of Skechers U.S.A. by 19.3% in the fourth quarter. Dimensional Fund Advisors LP now owns 2,212,020 shares of the textile maker's stock worth $148,743,000 after purchasing an additional 357,681 shares during the period. Hedge funds and other institutional investors own 79.96% of the company's stock.

Insider Buying and Selling

In related news, General Counsel Phillip Paccione sold 10,994 shares of Skechers U.S.A. stock in a transaction on Monday, March 3rd. The shares were sold at an average price of $56.63, for a total value of $622,590.22. Following the sale, the general counsel now owns 15,000 shares in the company, valued at $849,450. The trade was a 42.29 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, COO David Weinberg sold 36,000 shares of the company's stock in a transaction on Wednesday, February 12th. The stock was sold at an average price of $62.72, for a total transaction of $2,257,920.00. Following the completion of the transaction, the chief operating officer now owns 54,499 shares of the company's stock, valued at $3,418,177.28. This trade represents a 39.78 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 218,245 shares of company stock valued at $13,452,902 over the last ninety days. 24.78% of the stock is owned by insiders.

Skechers U.S.A. Stock Performance

NYSE:SKX opened at $48.64 on Wednesday. The company has a debt-to-equity ratio of 0.01, a quick ratio of 1.12 and a current ratio of 1.97. 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 cap of $7.26 billion, a PE ratio of 11.72, a price-to-earnings-growth ratio of 1.11 and a beta of 1.08. The business has a 50 day moving average price of $54.11 and a 200-day moving average price of $62.42.

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. Skechers U.S.A. had a net margin of 7.13% and a return on equity of 13.73%. The business had revenue of $2.41 billion during the quarter, compared to analysts' expectations of $2.43 billion. During the same quarter in the prior year, the company posted $1.33 EPS. The firm's revenue for the quarter was up 7.1% compared to the same quarter last year. Equities research analysts predict that Skechers U.S.A., Inc. will post 4.47 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on SKX shares. Bank of America decreased 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. Evercore ISI decreased their price target on shares of Skechers U.S.A. from $78.00 to $60.00 and set an "outperform" rating on the stock in a report on Thursday, April 17th. Morgan Stanley decreased their price target on shares of Skechers U.S.A. from $80.00 to $73.00 and set an "overweight" rating on the stock in a report on Friday, April 25th. StockNews.com cut shares of Skechers U.S.A. from a "buy" rating to a "hold" rating in a report on Monday, February 10th. Finally, TD Cowen increased their target price on Skechers U.S.A. from $88.00 to $93.00 and gave the company a "buy" rating in a research note on Wednesday, January 8th. Three investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $71.62.

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.

Want to see what other hedge funds are holding SKX? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Skechers U.S.A., Inc. (NYSE:SKX - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.