Skechers U.S.A., Inc. (NYSE:SKX) Position Cut by Canada Pension Plan Investment Board

Canada Pension Plan Investment Board lowered its position in shares of Skechers U.S.A., Inc. (NYSE:SKX) by 32.0% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 136,800 shares of the textile maker’s stock after selling 64,300 shares during the period. Canada Pension Plan Investment Board’s holdings in Skechers U.S.A. were worth $9,198,000 as of its most recent filing with the SEC.

A number of other large investors have also modified their holdings of the company. GKV Capital Management Co. Inc. bought a new position in Skechers U.S.A. in the 4th quarter worth about $185,000. NewEdge Advisors LLC grew its holdings in Skechers U.S.A. by 85.2% in the 4th quarter. NewEdge Advisors LLC now owns 413 shares of the textile maker’s stock worth $28,000 after buying an additional 190 shares in the last quarter. Montag & Caldwell LLC acquired a new stake in Skechers U.S.A. in the 4th quarter valued at approximately $382,000. Jump Financial LLC bought a new stake in Skechers U.S.A. during the 4th quarter valued at $1,080,000. Finally, Portolan Capital Management LLC increased its holdings in shares of Skechers U.S.A. by 29.1% during the fourth quarter. Portolan Capital Management LLC now owns 198,827 shares of the textile maker’s stock valued at $13,369,000 after purchasing an additional 44,768 shares during the period. Institutional investors and hedge funds own 79.96% of the company’s stock.

Insider Activity at Skechers U.S.A.

In related news, CFO John M. Vandemore sold 5,112 shares of the business’s stock in a transaction dated Monday, March 3rd. The stock was 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 approximately $5,063,009.28. The trade was a 5.78 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Mark A. Nason sold 12,046 shares of the stock in a transaction that occurred on Tuesday, February 18th. The shares were sold at an average price of $66.08, for a total value of $795,999.68. Following the sale, the executive vice president now owns 25,675 shares of the company’s stock, valued at approximately $1,696,604. The trade was a 31.93 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 218,245 shares of company stock worth $13,452,902. 24.75% of the stock is owned by insiders.

Skechers U.S.A. Trading Down 1.8 %

Shares of NYSE:SKX opened at $46.79 on Tuesday. The company has a current ratio of 1.97, a quick ratio of 1.12 and a debt-to-equity ratio of 0.01. The stock has a market capitalization of $6.99 billion, a PE ratio of 11.27, a P/E/G ratio of 1.11 and a beta of 1.08. Skechers U.S.A., Inc. has a 1 year low of $44.50 and a 1 year high of $78.85. The firm has a fifty day moving average price of $56.09 and a 200 day moving average price of $63.14.

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 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%. Analysts expect that Skechers U.S.A., Inc. will post 4.47 EPS for the current fiscal year.

Analyst Ratings Changes

SKX has been the subject of a number of recent analyst reports. Bank of America decreased their target price 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 target price on 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. UBS Group lowered their price target on Skechers U.S.A. from $65.00 to $64.00 and set a “buy” rating on the stock in a research report on Monday, April 14th. StockNews.com cut Skechers U.S.A. from a “buy” rating to a “hold” rating in a research note on Monday, February 10th. Finally, Evercore ISI cut their price target on shares of Skechers U.S.A. from $78.00 to $60.00 and set an “outperform” rating for the company in a report on Thursday, April 17th. Three research 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 stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $74.67.

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.