Corient Private Wealth LLC Lowers Position in Skechers U.S.A., Inc. (NYSE:SKX)

Corient Private Wealth LLC decreased its holdings in shares of Skechers U.S.A., Inc. (NYSE:SKX) by 2.7% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 43,571 shares of the textile maker’s stock after selling 1,218 shares during the quarter. Corient Private Wealth LLC’s holdings in Skechers U.S.A. were worth $2,930,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of the stock. Bank of New York Mellon Corp grew its stake in Skechers U.S.A. by 70.4% in the 4th quarter. Bank of New York Mellon Corp now owns 2,308,283 shares of the textile maker’s stock worth $155,209,000 after buying an additional 953,528 shares in the last quarter. Wellington Management Group LLP increased its stake in Skechers U.S.A. by 39.0% in the third quarter. Wellington Management Group LLP now owns 1,025,556 shares of the textile maker’s stock valued at $68,630,000 after acquiring an additional 287,939 shares during the last quarter. Vaughan Nelson Investment Management L.P. raised its position in 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 purchasing an additional 253,045 shares in the last quarter. Raymond James Financial Inc. bought a new stake in Skechers U.S.A. during the fourth quarter worth about $12,852,000. Finally, Bfsg LLC increased its position in shares of Skechers U.S.A. by 1,519.6% during the 4th quarter. Bfsg LLC now owns 101,487 shares of the textile maker’s stock valued at $6,824,000 after purchasing an additional 95,221 shares during the last quarter. 79.96% of the stock is currently owned by institutional investors.

Insider Transactions at Skechers U.S.A.

In other news, COO David Weinberg sold 8,219 shares of the business’s stock in a transaction on Tuesday, December 31st. The shares were sold at an average price of $67.48, for a total transaction of $554,618.12. Following the sale, the chief operating officer now owns 122,211 shares in the company, valued at approximately $8,246,798.28. The trade was a 6.30 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, General Counsel Phillip Paccione sold 10,994 shares of the 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 owns 15,000 shares of the company’s stock, valued at approximately $849,450. The trade was a 42.29 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 236,738 shares of company stock valued at $14,700,809. Corporate insiders own 24.75% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on SKX shares. Needham & Company LLC restated a “hold” rating on shares of Skechers U.S.A. in a report on Friday, February 7th. Raymond James cut their price target on shares of Skechers U.S.A. from $80.00 to $75.00 and set an “outperform” rating for the company in a research report on Friday, February 7th. Piper Sandler assumed coverage on Skechers U.S.A. in a report on Tuesday, December 10th. They issued a “neutral” rating and a $65.00 price objective on the stock. UBS Group dropped their target price on Skechers U.S.A. from $92.00 to $90.00 and set a “buy” rating for the company in a report on Friday, February 7th. Finally, Barclays reduced their price target on Skechers U.S.A. from $80.00 to $77.00 and set an “overweight” rating on the stock in a research report on Monday, February 10th. Three research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $81.25.

Skechers U.S.A. Stock Down 0.5 %

Shares of Skechers U.S.A. stock opened at $56.11 on Monday. 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 12-month low of $53.79 and a 12-month high of $78.85. The company has a market cap of $8.38 billion, a P/E ratio of 13.52, a PEG ratio of 1.11 and a beta of 1.21. The company’s fifty day simple moving average is $65.55 and its two-hundred day simple moving average is $65.50.

Skechers U.S.A. (NYSE:SKX) last announced its quarterly earnings results on Thursday, February 6th. The textile maker reported $0.65 earnings per share (EPS) for the quarter, missing the consensus estimate 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%. Research analysts anticipate that Skechers U.S.A., Inc. will post 4.47 EPS for the current year.

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.