Skechers U.S.A., Inc. (NYSE:SKX) Shares Bought by TD Private Client Wealth LLC

TD Private Client Wealth LLC lifted its position in Skechers U.S.A., Inc. (NYSE:SKX) by 534.3% during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 425 shares of the textile maker’s stock after buying an additional 358 shares during the period. TD Private Client Wealth LLC’s holdings in Skechers U.S.A. were worth $29,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. UMB Bank n.a. raised its position 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 acquiring an additional 239 shares in the last quarter. IFP Advisors Inc raised its holdings 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 worth $55,000 after purchasing an additional 317 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. acquired a new stake in Skechers U.S.A. during the fourth quarter valued at approximately $65,000. Brooklyn Investment Group bought a new stake in Skechers U.S.A. during the third quarter worth approximately $67,000. Finally, Blue Trust Inc. grew its position 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 buying an additional 207 shares during the last quarter. Institutional investors and hedge funds own 79.96% of the company’s stock.

Insiders Place Their Bets

In related news, General Counsel Phillip Paccione sold 10,994 shares of the company’s 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 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 ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, CFO John M. Vandemore sold 5,112 shares of the firm’s stock in a transaction dated Monday, March 3rd. The shares were sold at an average price of $60.76, for a total value of $310,605.12. Following the transaction, the chief financial officer now owns 83,328 shares in the company, 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 236,738 shares of company stock valued at $14,700,809 over the last ninety days. Corporate insiders own 24.75% of the company’s stock.

Skechers U.S.A. Trading Down 0.0 %

NYSE SKX opened at $57.34 on Thursday. The company has a current ratio of 1.97, a quick ratio of 1.12 and a debt-to-equity ratio of 0.01. Skechers U.S.A., Inc. has a 1-year low of $53.79 and a 1-year high of $78.85. The firm’s fifty day simple moving average is $64.77 and its 200-day simple moving average is $65.32. The company has a market capitalization of $8.56 billion, a PE ratio of 13.82, a price-to-earnings-growth ratio of 1.11 and a beta of 1.21.

Skechers U.S.A. (NYSE:SKX) last issued its earnings results on Thursday, February 6th. The textile maker reported $0.65 earnings per share for the quarter, missing the consensus estimate of $0.73 by ($0.08). Skechers U.S.A. had a return on equity of 13.73% and a net margin of 7.13%. As a group, sell-side analysts anticipate that Skechers U.S.A., Inc. will post 4.47 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on SKX. Barclays reduced their price objective 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. UBS Group cut their price objective on Skechers U.S.A. from $92.00 to $90.00 and set a “buy” rating on the stock in a report on Friday, February 7th. Evercore ISI raised their target price on shares of Skechers U.S.A. from $72.00 to $85.00 and gave the stock an “outperform” rating in a report on Tuesday, January 28th. Stifel Nicolaus cut their price target on shares of 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. Finally, Needham & Company LLC reaffirmed a “hold” rating on shares of Skechers U.S.A. in a research note 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. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $80.42.

About Skechers U.S.A.

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.