Loomis Sayles & Co. L P Sells 18,389 Shares of Skechers U.S.A., Inc. (NYSE:SKX)

Loomis Sayles & Co. L P trimmed its stake in shares of Skechers U.S.A., Inc. (NYSE:SKX) by 2.4% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 733,678 shares of the textile maker’s stock after selling 18,389 shares during the quarter. Loomis Sayles & Co. L P’s holdings in Skechers U.S.A. were worth $49,332,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. TD Private Client Wealth LLC lifted its holdings in Skechers U.S.A. by 534.3% during the 4th quarter. TD Private Client Wealth LLC now owns 425 shares of the textile maker’s stock worth $29,000 after purchasing an additional 358 shares during the last quarter. UMB Bank n.a. increased its position in Skechers U.S.A. by 53.1% during the 4th quarter. UMB Bank n.a. now owns 689 shares of the textile maker’s stock worth $46,000 after buying an additional 239 shares during the period. IFP Advisors Inc lifted its holdings in shares of Skechers U.S.A. by 62.4% during the fourth quarter. IFP Advisors Inc now owns 825 shares of the textile maker’s stock worth $55,000 after buying an additional 317 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. bought a new stake in shares of Skechers U.S.A. in the fourth quarter valued at about $65,000. Finally, Brooklyn Investment Group acquired a new position in shares of Skechers U.S.A. in the third quarter valued at about $67,000. 79.96% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of analysts have issued reports on SKX shares. Stifel Nicolaus cut their price objective on shares of Skechers U.S.A. from $83.00 to $80.00 and set a “buy” rating for the company in a report on Friday, February 7th. StockNews.com cut Skechers U.S.A. from a “buy” rating to a “hold” rating in a research note on Monday, February 10th. Barclays lowered their price objective on Skechers U.S.A. from $80.00 to $77.00 and set an “overweight” rating on the stock in a research note on Monday, February 10th. TD Cowen upped their target price on Skechers U.S.A. from $88.00 to $93.00 and gave the company a “buy” rating in a research report on Wednesday, January 8th. Finally, Evercore ISI raised their price target on Skechers U.S.A. from $72.00 to $85.00 and gave the stock an “outperform” rating in a research report on Tuesday, January 28th. Three investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $80.42.

Insider Activity

In other Skechers U.S.A. news, President Michael Greenberg sold 10,274 shares of the company’s stock in a transaction dated 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 transaction, the president now owns 149,327 shares of the company’s stock, valued at $10,076,585.96. This represents a 6.44 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, General Counsel Phillip Paccione sold 10,994 shares of Skechers U.S.A. 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 directly 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. In the last ninety days, insiders sold 236,738 shares of company stock worth $14,700,809. Insiders own 24.75% of the company’s stock.

Skechers U.S.A. Stock Up 0.8 %

Shares of NYSE SKX opened at $57.79 on Friday. The company has a market cap of $8.63 billion, a price-to-earnings ratio of 13.93, a PEG ratio of 1.11 and a beta of 1.21. The company has a current ratio of 1.97, a quick ratio of 1.12 and a debt-to-equity ratio of 0.01. Skechers U.S.A., Inc. has a 12 month low of $53.79 and a 12 month high of $78.85. The stock has a 50-day moving average price of $64.54 and a two-hundred day moving average price of $65.27.

Skechers U.S.A. (NYSE:SKX) last released its quarterly earnings data on Thursday, February 6th. The textile maker reported $0.65 earnings per share (EPS) 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, analysts forecast that Skechers U.S.A., Inc. will post 4.47 earnings per share for the current fiscal year.

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.