Boston Partners Has $9.68 Million Position in Skechers U.S.A., Inc. (NYSE:SKX)

Boston Partners trimmed its holdings in Skechers U.S.A., Inc. (NYSE:SKX) by 1.8% during the fourth quarter, Holdings Channel reports. The firm owned 143,920 shares of the textile maker’s stock after selling 2,706 shares during the quarter. Boston Partners’ holdings in Skechers U.S.A. were worth $9,683,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in the business. UMB Bank n.a. increased its holdings in Skechers U.S.A. by 53.1% in the fourth quarter. UMB Bank n.a. now owns 689 shares of the textile maker’s stock worth $46,000 after purchasing an additional 239 shares in the last quarter. IFP Advisors Inc increased its stake in shares of Skechers U.S.A. by 62.4% in the 4th quarter. IFP Advisors Inc now owns 825 shares of the textile maker’s stock valued at $55,000 after acquiring an additional 317 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. acquired a new position in shares of Skechers U.S.A. during the 4th quarter valued at $65,000. Brooklyn Investment Group bought a new position in Skechers U.S.A. during the third quarter worth $67,000. Finally, Blue Trust Inc. grew its holdings in Skechers U.S.A. by 20.7% in the fourth quarter. Blue Trust Inc. now owns 1,208 shares of the textile maker’s stock worth $81,000 after purchasing an additional 207 shares during the period. Institutional investors own 79.96% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on the stock. Needham & Company LLC reissued a “hold” rating on shares of Skechers U.S.A. in a research report on Friday, February 7th. Evercore ISI increased their price target on Skechers U.S.A. from $72.00 to $85.00 and gave the stock an “outperform” rating in a report on Tuesday, January 28th. Piper Sandler initiated coverage on Skechers U.S.A. in a research note on Tuesday, December 10th. They issued a “neutral” rating and a $65.00 price objective for the company. Stifel Nicolaus lowered their target price on Skechers U.S.A. from $83.00 to $80.00 and set a “buy” rating on the stock in a research report on Friday, February 7th. Finally, UBS Group reduced their price target on shares of 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. Three investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $81.25.

Skechers U.S.A. Price Performance

Shares of NYSE:SKX opened at $56.41 on Friday. 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 stock has a market cap of $8.42 billion, a PE ratio of 13.59, a price-to-earnings-growth ratio of 1.11 and a beta of 1.21. The stock’s fifty day simple moving average is $65.83 and its two-hundred day simple moving average is $65.61. Skechers U.S.A., Inc. has a 1-year low of $53.79 and a 1-year high of $78.85.

Skechers U.S.A. (NYSE:SKX) last released its quarterly earnings results on Thursday, February 6th. The textile maker reported $0.65 earnings per share 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%. As a group, analysts forecast that Skechers U.S.A., Inc. will post 4.47 EPS for the current fiscal year.

Insider Transactions at Skechers U.S.A.

In other news, CEO Robert Greenberg sold 52,600 shares of the firm’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 $3,299,072.00. Following the completion of the sale, the chief executive officer now directly owns 61,367 shares of the company’s stock, valued at $3,848,938.24. This trade represents a 46.15 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through 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 stock was sold at an average price of $56.63, for a total transaction of $622,590.22. Following the completion of the transaction, the general counsel now directly owns 15,000 shares in the company, valued at $849,450. This trade represents a 42.29 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 236,738 shares of company stock worth $14,700,809 in the last 90 days. Insiders own 24.75% of the company’s stock.

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.