Brandes Investment Partners LP Has $867,000 Stake in Skechers U.S.A., Inc. (NYSE:SKX)

Brandes Investment Partners LP boosted its stake in shares of Skechers U.S.A., Inc. (NYSE:SKX) by 10.3% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 12,891 shares of the textile maker’s stock after buying an additional 1,200 shares during the quarter. Brandes Investment Partners LP’s holdings in Skechers U.S.A. were worth $867,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. UMB Bank n.a. lifted its holdings in 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 worth $46,000 after buying an additional 239 shares during the period. IFP Advisors Inc lifted its holdings in Skechers U.S.A. by 62.4% during the 4th quarter. IFP Advisors Inc now owns 825 shares of the textile maker’s stock worth $55,000 after buying an additional 317 shares during the period. Venturi Wealth Management LLC lifted its holdings in Skechers U.S.A. by 52.9% during the 3rd quarter. Venturi Wealth Management LLC now owns 864 shares of the textile maker’s stock worth $58,000 after buying an additional 299 shares during the period. Mirae Asset Global Investments Co. Ltd. acquired a new position in Skechers U.S.A. during the 4th quarter worth about $65,000. Finally, Brooklyn Investment Group acquired a new position in Skechers U.S.A. during the 3rd quarter worth about $67,000. 79.96% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research analysts have commented on the company. Stifel Nicolaus cut their target price on Skechers U.S.A. from $83.00 to $80.00 and set a “buy” rating on the stock in a report on Friday, February 7th. TD Cowen lifted their price objective on Skechers U.S.A. from $88.00 to $93.00 and gave the stock a “buy” rating in a research report on Wednesday, January 8th. Evercore ISI lifted their price objective on Skechers U.S.A. from $72.00 to $85.00 and gave the stock an “outperform” rating in a research report on Tuesday, January 28th. UBS Group lowered their price objective on Skechers U.S.A. from $92.00 to $90.00 and set a “buy” rating for the company in a research report on Friday, February 7th. Finally, Piper Sandler assumed coverage on Skechers U.S.A. in a research report on Tuesday, December 10th. They issued a “neutral” rating and a $65.00 price objective for the company. Three research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $81.25.

Skechers U.S.A. Stock Performance

Shares of Skechers U.S.A. stock opened at $56.58 on Friday. Skechers U.S.A., Inc. has a one year low of $53.79 and a one year high of $78.85. The firm has a market capitalization of $8.45 billion, a price-to-earnings ratio of 13.63, a PEG ratio of 1.11 and a beta of 1.21. The business has a 50-day simple moving average of $66.83 and a 200 day simple moving average of $65.91. The company has a debt-to-equity ratio of 0.01, a current ratio of 1.97 and a quick ratio of 1.12.

Skechers U.S.A. (NYSE:SKX) last issued its 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%. On average, research analysts anticipate that Skechers U.S.A., Inc. will post 4.47 earnings per share for the current fiscal year.

Insider Transactions at Skechers U.S.A.

In other news, COO David Weinberg sold 8,219 shares of the stock in a transaction that occurred on Tuesday, December 31st. The stock was sold at an average price of $67.48, for a total value of $554,618.12. Following the completion of the sale, the chief operating officer now directly owns 122,211 shares of the company’s stock, valued at $8,246,798.28. This represents a 6.30 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO John M. Vandemore sold 5,112 shares of the stock in a transaction that occurred on Monday, March 3rd. The stock was sold at an average price of $60.76, for a total value of $310,605.12. Following the completion of the sale, the chief financial officer now directly owns 83,328 shares of the company’s stock, valued at approximately $5,063,009.28. This trade represents a 5.78 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 236,738 shares of company stock valued at $14,700,809 over the last ninety days. 24.75% of the stock is currently owned by insiders.

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.