Fiduciary Financial Group LLC Acquires New Holdings in Skechers U.S.A., Inc. (NYSE:SKX)

Fiduciary Financial Group LLC acquired a new stake in Skechers U.S.A., Inc. (NYSE:SKX) in the fourth quarter, HoldingsChannel reports. The firm acquired 4,249 shares of the textile maker’s stock, valued at approximately $298,000.

A number of other large investors have also added to or reduced their stakes in SKX. American Century Companies Inc. raised its holdings in Skechers U.S.A. by 38.6% in the 2nd quarter. American Century Companies Inc. now owns 330,769 shares of the textile maker’s stock valued at $22,863,000 after buying an additional 92,093 shares during the last quarter. DekaBank Deutsche Girozentrale raised its holdings in Skechers U.S.A. by 13,824.9% in the 2nd quarter. DekaBank Deutsche Girozentrale now owns 90,651 shares of the textile maker’s stock valued at $6,181,000 after buying an additional 90,000 shares during the last quarter. Envestnet Asset Management Inc. raised its holdings in Skechers U.S.A. by 18.8% in the 2nd quarter. Envestnet Asset Management Inc. now owns 160,689 shares of the textile maker’s stock valued at $11,107,000 after buying an additional 25,394 shares during the last quarter. Dimensional Fund Advisors LP raised its holdings in Skechers U.S.A. by 3.0% in the 2nd quarter. Dimensional Fund Advisors LP now owns 1,885,723 shares of the textile maker’s stock valued at $130,350,000 after buying an additional 55,095 shares during the last quarter. Finally, Renaissance Technologies LLC increased its position in Skechers U.S.A. by 2,900.0% during the 2nd quarter. Renaissance Technologies LLC now owns 126,000 shares of the textile maker’s stock valued at $8,709,000 after purchasing an additional 121,800 shares during the period. Institutional investors own 79.96% of the company’s stock.

Skechers U.S.A. Stock Down 2.3 %

SKX stock opened at $69.64 on Thursday. The company has a quick ratio of 1.25, a current ratio of 1.96 and a debt-to-equity ratio of 0.01. The firm has a market capitalization of $10.51 billion, a PE ratio of 17.15, a PEG ratio of 0.98 and a beta of 1.19. Skechers U.S.A., Inc. has a twelve month low of $55.67 and a twelve month high of $75.09. The stock has a 50-day simple moving average of $66.38 and a two-hundred day simple moving average of $65.58.

Skechers U.S.A. (NYSE:SKX) last issued its quarterly earnings data on Thursday, October 24th. The textile maker reported $1.26 EPS for the quarter, topping the consensus estimate of $1.15 by $0.11. Skechers U.S.A. had a return on equity of 13.71% and a net margin of 7.19%. The company had revenue of $2.35 billion during the quarter, compared to analyst estimates of $2.31 billion. During the same quarter in the previous year, the firm earned $0.93 earnings per share. Skechers U.S.A.’s revenue was up 16.0% on a year-over-year basis. On average, equities analysts predict that Skechers U.S.A., Inc. will post 4.24 EPS for the current fiscal year.

Insider Transactions at Skechers U.S.A.

In related news, COO David Weinberg sold 8,219 shares of the business’s stock in a transaction that occurred on Tuesday, December 31st. The stock was sold at an average price of $67.48, for a total value of $554,618.12. Following the completion of the sale, the chief operating officer now owns 122,211 shares in the company, valued at $8,246,798.28. The trade was a 6.30 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, President Michael Greenberg sold 10,274 shares of the business’s stock in a transaction that occurred on Tuesday, December 31st. The stock was sold at an average price of $67.48, for a total value of $693,289.52. Following the completion of the sale, the president now owns 149,327 shares of the company’s stock, valued at $10,076,585.96. The trade was a 6.44 % decrease in their position. The disclosure for this sale can be found here. 24.75% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on SKX. Deutsche Bank Aktiengesellschaft increased their target price on shares of Skechers U.S.A. from $83.00 to $84.00 and gave the company a “buy” rating in a research report on Friday, October 25th. Bank of America reduced their price objective on shares of Skechers U.S.A. from $81.00 to $80.00 and set a “buy” rating for the company in a research report on Friday, October 25th. Barclays raised their price objective on shares of Skechers U.S.A. from $79.00 to $80.00 and gave the stock an “overweight” rating in a research report on Friday, October 25th. Morgan Stanley raised their price objective on shares of Skechers U.S.A. from $81.00 to $84.00 and gave the stock an “overweight” rating in a research report on Friday, October 25th. Finally, Piper Sandler began coverage on shares of Skechers U.S.A. in a research report on Tuesday, December 10th. They issued a “neutral” rating and a $65.00 price target for the company. Three analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $78.42.

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.