Treasurer of the State of North Carolina Has $3.90 Million Holdings in Skechers U.S.A., Inc. (NYSE:SKX)

Treasurer of the State of North Carolina increased its stake in shares of Skechers U.S.A., Inc. (NYSE:SKX) by 0.6% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 57,940 shares of the textile maker’s stock after acquiring an additional 360 shares during the period. Treasurer of the State of North Carolina’s holdings in Skechers U.S.A. were worth $3,896,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Invesco Ltd. raised its stake in shares of Skechers U.S.A. by 20.8% in the 4th quarter. Invesco Ltd. now owns 392,378 shares of the textile maker’s stock valued at $26,383,000 after purchasing an additional 67,483 shares during the period. Bank of Montreal Can raised its holdings in shares of Skechers U.S.A. by 8.7% in the fourth quarter. Bank of Montreal Can now owns 16,957 shares of the textile maker’s stock valued at $1,140,000 after purchasing an additional 1,354 shares during the last quarter. Ranmore Fund Management Ltd bought a new stake in shares of Skechers U.S.A. in the fourth quarter worth $10,153,000. Cerity Partners LLC boosted its holdings in Skechers U.S.A. by 1.2% during the fourth quarter. Cerity Partners LLC now owns 14,090 shares of the textile maker’s stock worth $947,000 after purchasing an additional 172 shares during the last quarter. Finally, Aster Capital Management DIFC Ltd grew its position in Skechers U.S.A. by 437.2% in the fourth quarter. Aster Capital Management DIFC Ltd now owns 7,848 shares of the textile maker’s stock valued at $528,000 after purchasing an additional 6,387 shares in the last quarter. 79.96% of the stock is owned by institutional investors.

Skechers U.S.A. Trading Down 2.9 %

Shares of NYSE:SKX opened at $47.73 on Wednesday. The stock has a market cap of $7.13 billion, a PE ratio of 11.50, a P/E/G ratio of 1.11 and a beta of 1.08. The business has a 50 day moving average of $57.49 and a 200-day moving average of $63.71. The company has a quick ratio of 1.12, a current ratio of 1.97 and a debt-to-equity ratio of 0.01. Skechers U.S.A., Inc. has a 12-month low of $44.50 and a 12-month high of $78.85.

Skechers U.S.A. (NYSE:SKX) last posted its earnings results on Thursday, February 6th. The textile maker reported $0.65 earnings per share for the quarter, missing analysts’ consensus estimates 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%. As a group, equities research analysts forecast that Skechers U.S.A., Inc. will post 4.47 earnings per share for the current year.

Insiders Place Their Bets

In other Skechers U.S.A. news, General Counsel Phillip Paccione sold 10,994 shares of the firm’s stock in a transaction on Monday, March 3rd. The stock was sold at an average price of $56.63, for a total transaction of $622,590.22. Following the transaction, the general counsel now owns 15,000 shares in the company, valued at $849,450. This trade represents a 42.29 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Robert Greenberg sold 52,600 shares of the company’s stock in a transaction on Wednesday, February 12th. The shares were sold at an average price of $62.72, for a total value of $3,299,072.00. Following the sale, the chief executive officer now owns 61,367 shares of the company’s stock, valued at approximately $3,848,938.24. The trade was a 46.15 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 218,245 shares of company stock worth $13,452,902 in the last quarter. Corporate insiders own 24.75% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on the stock. Barclays cut their price target on shares of 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. Stifel Nicolaus decreased their price target on Skechers U.S.A. from $80.00 to $62.00 and set a “buy” rating for the company in a research note on Thursday, April 10th. Bank of America cut their price objective on Skechers U.S.A. from $76.00 to $70.00 and set a “buy” rating for the company in a report on Monday, March 24th. Evercore ISI boosted their target price on shares of Skechers U.S.A. from $72.00 to $85.00 and gave the stock an “outperform” rating in a report on Tuesday, January 28th. Finally, UBS Group cut their price target on shares of Skechers U.S.A. from $65.00 to $64.00 and set a “buy” rating for the company in a research note on Monday. Three investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $76.75.

About Skechers U.S.A.

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.