Cwm LLC Increases Stock Holdings in Skechers U.S.A., Inc. (NYSE:SKX)

Cwm LLC grew its stake in shares of Skechers U.S.A., Inc. (NYSE:SKX) by 23.3% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 4,517 shares of the textile maker’s stock after purchasing an additional 855 shares during the quarter. Cwm LLC’s holdings in Skechers U.S.A. were worth $282,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also modified their holdings of the company. Huntington National Bank boosted its position in shares of Skechers U.S.A. by 861.7% in the 3rd quarter. Huntington National Bank now owns 577 shares of the textile maker’s stock valued at $28,000 after purchasing an additional 517 shares during the period. DekaBank Deutsche Girozentrale purchased a new position in shares of Skechers U.S.A. during the third quarter worth approximately $31,000. Planned Solutions Inc. acquired a new position in shares of Skechers U.S.A. in the 4th quarter valued at $70,000. Meeder Asset Management Inc. purchased a new stake in Skechers U.S.A. in the 4th quarter valued at $77,000. Finally, Intact Investment Management Inc. purchased a new stake in Skechers U.S.A. in the 3rd quarter valued at $176,000. Hedge funds and other institutional investors own 79.96% of the company’s stock.

Analysts Set New Price Targets

SKX has been the topic of a number of recent research reports. Evercore ISI dropped their price objective on shares of Skechers U.S.A. from $73.00 to $68.00 and set an “outperform” rating on the stock in a research note on Wednesday, April 17th. Wedbush upped their price objective on Skechers U.S.A. from $68.00 to $76.00 and gave the company an “outperform” rating in a research note on Friday, April 26th. TD Cowen lifted their target price on Skechers U.S.A. from $70.00 to $74.00 and gave the company a “buy” rating in a research note on Wednesday, March 6th. Monness Crespi & Hardt upped their price target on Skechers U.S.A. from $60.00 to $72.00 and gave the stock a “buy” rating in a research note on Thursday, January 18th. Finally, Barclays initiated coverage on Skechers U.S.A. in a report on Monday, April 1st. They set an “overweight” rating and a $71.00 price target for the company. Two investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $66.83.

Skechers U.S.A. Stock Up 1.6 %

Shares of NYSE SKX opened at $67.11 on Friday. The stock has a market capitalization of $10.29 billion, a price-to-earnings ratio of 17.66, a price-to-earnings-growth ratio of 1.14 and a beta of 1.29. Skechers U.S.A., Inc. has a 52 week low of $45.58 and a 52 week high of $69.07. The firm has a 50-day moving average price of $60.28 and a 200 day moving average price of $58.52. The company has a quick ratio of 1.56, a current ratio of 2.39 and a debt-to-equity ratio of 0.02.

Skechers U.S.A. (NYSE:SKX) last posted its quarterly earnings results on Thursday, April 25th. The textile maker reported $1.33 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.10 by $0.23. The company had revenue of $2.25 billion during the quarter, compared to the consensus estimate of $2.20 billion. Skechers U.S.A. had a net margin of 7.17% and a return on equity of 13.56%. The company’s revenue for the quarter was up 12.5% on a year-over-year basis. During the same period last year, the firm earned $1.02 EPS. Equities research analysts anticipate that Skechers U.S.A., Inc. will post 4.07 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, CEO Robert Greenberg sold 30,339 shares of Skechers U.S.A. stock in a transaction on Friday, March 15th. The stock was sold at an average price of $61.11, for a total transaction of $1,854,016.29. Following the completion of the transaction, the chief executive officer now owns 132,783 shares of the company’s stock, valued at approximately $8,114,369.13. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In other news, CEO Robert Greenberg sold 30,339 shares of the firm’s stock in a transaction that occurred on Friday, March 15th. The shares were sold at an average price of $61.11, for a total transaction of $1,854,016.29. Following the completion of the transaction, the chief executive officer now directly owns 132,783 shares of the company’s stock, valued at approximately $8,114,369.13. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, EVP Mark A. Nason sold 6,067 shares of the stock in a transaction on Friday, March 15th. The shares were sold at an average price of $61.11, for a total value of $370,754.37. Following the sale, the executive vice president now owns 14,023 shares in the company, valued at approximately $856,945.53. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 254,875 shares of company stock worth $15,021,192. 24.75% of the stock is owned by corporate insiders.

Skechers U.S.A. Company 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.