Skechers U.S.A., Inc. (NYSE:SKX) Shares Acquired by Envestnet Asset Management Inc.

Envestnet Asset Management Inc. grew its stake in shares of Skechers U.S.A., Inc. (NYSE:SKX – Get Rating) by 9.9% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 25,954 shares of the textile maker’s stock after acquiring an additional 2,341 shares during the period. Envestnet Asset Management Inc.’s holdings in Skechers U.S.A. were worth $1,089,000 at the end of the most recent quarter.

Several other hedge funds also recently added to or reduced their stakes in SKX. State Street Corp lifted its position in shares of Skechers U.S.A. by 3.4% in the 3rd quarter. State Street Corp now owns 4,778,584 shares of the textile maker’s stock worth $151,577,000 after buying an additional 157,862 shares during the last quarter. Dimensional Fund Advisors LP lifted its holdings in shares of Skechers U.S.A. by 19.4% during the third quarter. Dimensional Fund Advisors LP now owns 2,949,350 shares of the textile maker’s stock valued at $93,568,000 after purchasing an additional 478,224 shares during the last quarter. Price T Rowe Associates Inc. MD boosted its position in Skechers U.S.A. by 6.3% during the 2nd quarter. Price T Rowe Associates Inc. MD now owns 2,784,301 shares of the textile maker’s stock worth $99,065,000 after acquiring an additional 165,147 shares during the period. Fiduciary Management Inc. WI boosted its position in Skechers U.S.A. by 0.9% during the 3rd quarter. Fiduciary Management Inc. WI now owns 2,477,515 shares of the textile maker’s stock worth $78,587,000 after acquiring an additional 22,996 shares during the period. Finally, Capital Research Global Investors raised its holdings in shares of Skechers U.S.A. by 4.8% during the first quarter. Capital Research Global Investors now owns 2,200,000 shares of the textile maker’s stock worth $89,672,000 after acquiring an additional 100,000 shares in the last quarter. 93.29% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Skechers U.S.A.

In related news, CFO John M. Vandemore sold 13,255 shares of the business’s stock in a transaction on Thursday, March 2nd. The shares were sold at an average price of $45.16, for a total value of $598,595.80. Following the transaction, the chief financial officer now owns 95,956 shares in the company, valued at $4,333,372.96. The transaction was disclosed in a document filed with the SEC, which is available through this link. In other news, Director Katherine J. Blair sold 3,500 shares of the business’s stock in a transaction dated Monday, May 8th. The shares were sold at an average price of $52.70, for a total transaction of $184,450.00. Following the completion of the sale, the director now directly owns 7,000 shares of the company’s stock, valued at $368,900. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CFO John M. Vandemore sold 13,255 shares of the business’s stock in a transaction dated Thursday, March 2nd. The stock was sold at an average price of $45.16, for a total transaction of $598,595.80. Following the sale, the chief financial officer now directly owns 95,956 shares of the company’s stock, valued at $4,333,372.96. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 101,805 shares of company stock worth $4,806,675. Company insiders own 24.44% of the company’s stock.

Skechers U.S.A. Stock Down 0.5 %

NYSE SKX opened at $50.84 on Thursday. The company has a current ratio of 2.41, a quick ratio of 1.43 and a debt-to-equity ratio of 0.06. Skechers U.S.A., Inc. has a 1-year low of $31.28 and a 1-year high of $54.77. The company has a 50 day moving average of $49.36 and a 200-day moving average of $45.44. The company has a market cap of $7.87 billion, a price-to-earnings ratio of 19.33 and a beta of 1.32.

Skechers U.S.A. (NYSE:SKX – Get Rating) last posted its earnings results on Thursday, April 27th. The textile maker reported $1.02 earnings per share for the quarter, topping analysts’ consensus estimates of $0.61 by $0.41. The firm had revenue of $2 billion for the quarter, compared to analysts’ expectations of $1.84 billion. Skechers U.S.A. had a net margin of 5.41% and a return on equity of 10.72%. On average, equities research analysts expect that Skechers U.S.A., Inc. will post 3.14 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of analysts have weighed in on SKX shares. UBS Group reduced their price target on Skechers U.S.A. from $69.00 to $60.00 and set a “buy” rating for the company in a research report on Wednesday, March 29th. Wedbush upped their price objective on Skechers U.S.A. from $54.00 to $58.00 in a research note on Friday, April 28th. Cowen decreased their price target on Skechers U.S.A. from $65.00 to $62.00 and set an “outperform” rating on the stock in a research report on Friday, February 3rd. StockNews.com began coverage on Skechers U.S.A. in a report on Thursday, May 18th. They set a “buy” rating on the stock. Finally, Piper Sandler upped their price objective on shares of Skechers U.S.A. from $47.00 to $52.00 in a research report on Friday, April 28th. Two investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $56.27.

About Skechers U.S.A.

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Skechers U.SA, Inc engages in designing, development, and marketing of lifestyle footwear for men, women, and children of all ages. It operates through the Wholesale and Direct-to-Consumer segment. The Wholesale segment includes department stores, family shoe stores, specialty running, and sporting goods retailers.