Bank of Montreal Can Has $1.14 Million Holdings in Skechers U.S.A., Inc. (NYSE:SKX)

Bank of Montreal Can grew its holdings in Skechers U.S.A., Inc. (NYSE:SKX) by 8.7% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 16,957 shares of the textile maker’s stock after purchasing an additional 1,354 shares during the period. Bank of Montreal Can’s holdings in Skechers U.S.A. were worth $1,140,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in SKX. Ranmore Fund Management Ltd acquired a new position in Skechers U.S.A. in the 4th quarter valued at approximately $10,153,000. Cerity Partners LLC increased its stake in shares of Skechers U.S.A. by 1.2% in the fourth quarter. Cerity Partners LLC now owns 14,090 shares of the textile maker’s stock worth $947,000 after acquiring an additional 172 shares during the last quarter. Aster Capital Management DIFC Ltd raised its holdings in shares of Skechers U.S.A. by 437.2% during the fourth quarter. Aster Capital Management DIFC Ltd now owns 7,848 shares of the textile maker’s stock worth $528,000 after acquiring an additional 6,387 shares in the last quarter. Russell Investments Group Ltd. boosted its position in Skechers U.S.A. by 33.8% during the fourth quarter. Russell Investments Group Ltd. now owns 104,518 shares of the textile maker’s stock valued at $7,028,000 after purchasing an additional 26,405 shares during the last quarter. Finally, Envestnet Asset Management Inc. grew its stake in Skechers U.S.A. by 3.2% in the fourth quarter. Envestnet Asset Management Inc. now owns 181,763 shares of the textile maker’s stock valued at $12,222,000 after purchasing an additional 5,612 shares in the last quarter. 79.96% of the stock is owned by hedge funds and other institutional investors.

Skechers U.S.A. Price Performance

Shares of NYSE:SKX opened at $47.53 on Friday. The company has a quick ratio of 1.12, a current ratio of 1.97 and a debt-to-equity ratio of 0.01. The business has a 50 day moving average price of $56.42 and a 200 day moving average price of $63.32. The company has a market cap of $7.10 billion, a price-to-earnings ratio of 11.45, a PEG ratio of 1.11 and a beta of 1.08. Skechers U.S.A., Inc. has a twelve month low of $44.50 and a twelve month high of $78.85.

Skechers U.S.A. (NYSE:SKX) last announced its quarterly earnings data 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 return on equity of 13.73% and a net margin of 7.13%. Research analysts predict that Skechers U.S.A., Inc. will post 4.47 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on SKX. Bank of America cut their price target on Skechers U.S.A. from $76.00 to $70.00 and set a “buy” rating for the company in a research note on Monday, March 24th. TD Cowen boosted their target price on shares of Skechers U.S.A. from $88.00 to $93.00 and gave the stock a “buy” rating in a research report on Wednesday, January 8th. Needham & Company LLC restated a “hold” rating on shares of Skechers U.S.A. in a research note on Friday, February 7th. Barclays decreased their price objective on shares of Skechers U.S.A. from $80.00 to $77.00 and set an “overweight” rating for the company in a report on Monday, February 10th. Finally, Evercore ISI cut their target price on Skechers U.S.A. from $78.00 to $60.00 and set an “outperform” rating on the stock in a report on Thursday. Three research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. Based on data from MarketBeat, Skechers U.S.A. currently has a consensus rating of “Moderate Buy” and an average target price of $74.67.

Insider Buying and Selling at Skechers U.S.A.

In other news, General Counsel Phillip Paccione sold 10,994 shares of the company’s stock in a transaction dated Monday, March 3rd. The shares were sold at an average price of $56.63, for a total value of $622,590.22. Following the sale, the general counsel now owns 15,000 shares of the company’s stock, valued at approximately $849,450. This represents a 42.29 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO John M. Vandemore sold 5,112 shares of Skechers U.S.A. stock in a transaction that occurred on Monday, March 3rd. The shares were sold at an average price of $60.76, for a total transaction of $310,605.12. Following the completion of the transaction, the chief financial officer now owns 83,328 shares of the company’s stock, valued at $5,063,009.28. This trade represents a 5.78 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 218,245 shares of company stock valued at $13,452,902 in the last quarter. Corporate insiders own 24.75% of the company’s stock.

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.