Geode Capital Management LLC Has $154.36 Million Stock Position in Skechers U.S.A., Inc. (NYSE:SKX)

Geode Capital Management LLC raised its holdings in Skechers U.S.A., Inc. (NYSE:SKX) by 3.5% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm owned 2,294,976 shares of the textile maker’s stock after buying an additional 78,071 shares during the quarter. Geode Capital Management LLC’s holdings in Skechers U.S.A. were worth $154,361,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently modified their holdings of SKX. TD Private Client Wealth LLC increased its stake in shares of Skechers U.S.A. by 534.3% in the 4th quarter. TD Private Client Wealth LLC now owns 425 shares of the textile maker’s stock valued at $29,000 after acquiring an additional 358 shares in the last quarter. UMB Bank n.a. grew its holdings in Skechers U.S.A. by 53.1% in the fourth quarter. UMB Bank n.a. now owns 689 shares of the textile maker’s stock worth $46,000 after purchasing an additional 239 shares during the period. IFP Advisors Inc grew its holdings in Skechers U.S.A. by 62.4% in the fourth quarter. IFP Advisors Inc now owns 825 shares of the textile maker’s stock worth $55,000 after purchasing an additional 317 shares during the period. Mirae Asset Global Investments Co. Ltd. bought a new stake in Skechers U.S.A. in the fourth quarter valued at $65,000. Finally, Blue Trust Inc. raised its holdings in shares of Skechers U.S.A. by 20.7% during the fourth quarter. Blue Trust Inc. now owns 1,208 shares of the textile maker’s stock valued at $81,000 after purchasing an additional 207 shares during the period. 79.96% of the stock is currently owned by institutional investors.

Insider Activity at Skechers U.S.A.

In other news, COO David Weinberg sold 36,000 shares of the firm’s stock in a transaction on Wednesday, February 12th. The stock was sold at an average price of $62.72, for a total transaction of $2,257,920.00. Following the completion of the sale, the chief operating officer now directly owns 54,499 shares of the company’s stock, valued at $3,418,177.28. This trade represents a 39.78 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, General Counsel Phillip Paccione sold 10,994 shares of Skechers U.S.A. stock in a transaction on Monday, March 3rd. The stock was 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 in the company, valued at $849,450. The trade was a 42.29 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 218,245 shares of company stock valued at $13,452,902. 24.75% of the stock is owned by insiders.

Wall Street Analyst Weigh In

A number of analysts recently commented on SKX shares. Needham & Company LLC reaffirmed a “hold” rating on shares of Skechers U.S.A. in a research report on Friday, February 7th. Piper Sandler initiated coverage on Skechers U.S.A. in a research report on Tuesday, December 10th. They set a “neutral” rating and a $65.00 target price on the stock. Bank of America reduced their price target on shares of Skechers U.S.A. from $76.00 to $70.00 and set a “buy” rating for the company in a research report on Monday, March 24th. TD Cowen upped their price objective on shares of Skechers U.S.A. from $88.00 to $93.00 and gave the stock a “buy” rating in a report on Wednesday, January 8th. Finally, Raymond James reduced their price objective on shares of Skechers U.S.A. from $80.00 to $75.00 and set an “outperform” rating for the company in a report on Friday, February 7th. Three equities research 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.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $80.42.

Skechers U.S.A. Stock Performance

Shares of SKX stock opened at $48.09 on Tuesday. The company has a debt-to-equity ratio of 0.01, a current ratio of 1.97 and a quick ratio of 1.12. The firm has a 50-day moving average of $61.81 and a 200-day moving average of $64.66. Skechers U.S.A., Inc. has a one year low of $45.33 and a one year high of $78.85. The company has a market cap of $7.18 billion, a P/E ratio of 11.59, a P/E/G ratio of 1.11 and a beta of 1.08.

Skechers U.S.A. (NYSE:SKX) last posted its quarterly earnings data on Thursday, February 6th. The textile maker reported $0.65 EPS for the quarter, missing the consensus estimate of $0.73 by ($0.08). Skechers U.S.A. had a net margin of 7.13% and a return on equity of 13.73%. Equities research analysts forecast that Skechers U.S.A., Inc. will post 4.47 EPS for the current fiscal year.

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.