Wellington Management Group LLP Grows Stock Holdings in Skechers U.S.A., Inc. (NYSE:SKX)

Wellington Management Group LLP grew its holdings in shares of Skechers U.S.A., Inc. (NYSE:SKX) by 6.3% during the fourth quarter, HoldingsChannel reports. The firm owned 1,090,413 shares of the textile maker’s stock after purchasing an additional 64,857 shares during the quarter. Wellington Management Group LLP’s holdings in Skechers U.S.A. were worth $73,319,000 at the end of the most recent quarter.

Several other hedge funds have also made changes to their positions in SKX. Sanctuary Advisors LLC raised its holdings in shares of Skechers U.S.A. by 88.1% in the 3rd quarter. Sanctuary Advisors LLC now owns 29,538 shares of the textile maker’s stock worth $1,822,000 after purchasing an additional 13,836 shares during the period. Raymond James Financial Inc. acquired a new position in shares of Skechers U.S.A. in the 4th quarter valued at approximately $12,852,000. National Bank of Canada FI raised its holdings in Skechers U.S.A. by 2,340.0% in the third quarter. National Bank of Canada FI now owns 70,710 shares of the textile maker’s stock valued at $4,732,000 after acquiring an additional 67,812 shares in the last quarter. Assenagon Asset Management S.A. raised its stake in shares of Skechers U.S.A. by 15.2% in the 4th quarter. Assenagon Asset Management S.A. now owns 120,007 shares of the textile maker’s stock valued at $8,069,000 after purchasing an additional 15,874 shares in the last quarter. Finally, Nordea Investment Management AB bought a new position in Skechers U.S.A. during the 4th quarter worth approximately $2,752,000. Institutional investors and hedge funds own 79.96% of the company’s stock.

Skechers U.S.A. Stock Performance

SKX stock opened at $50.29 on Friday. The firm has a 50 day simple moving average of $62.35 and a 200 day simple moving average of $64.80. Skechers U.S.A., Inc. has a 52 week low of $45.69 and a 52 week high of $78.85. The stock has a market cap of $7.51 billion, a P/E ratio of 12.12, a P/E/G ratio of 1.11 and a beta of 1.08. The company has a debt-to-equity ratio of 0.01, a quick ratio of 1.12 and a current ratio of 1.97.

Skechers U.S.A. (NYSE:SKX) last issued its earnings results 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 net margin of 7.13% and a return on equity of 13.73%. Research analysts anticipate that Skechers U.S.A., Inc. will post 4.47 earnings per share for the current fiscal year.

Insider Buying and Selling at Skechers U.S.A.

In other news, General Counsel Phillip Paccione sold 10,994 shares of Skechers U.S.A. stock in a transaction dated Monday, March 3rd. The stock was sold at an average price of $56.63, for a total transaction of $622,590.22. Following the completion of 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 position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Mark A. Nason sold 12,046 shares of the stock in a transaction that occurred on Tuesday, February 18th. The stock was sold at an average price of $66.08, for a total value of $795,999.68. Following the completion of the transaction, the executive vice president now owns 25,675 shares in the company, valued at $1,696,604. This represents a 31.93 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 218,245 shares of company stock worth $13,452,902 over the last 90 days. 24.75% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

SKX has been the topic of a number of research reports. Needham & Company LLC reissued a “hold” rating on shares of Skechers U.S.A. in a report on Friday, February 7th. Bank of America reduced their price target on 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. Barclays reduced their price target on shares of Skechers U.S.A. from $80.00 to $77.00 and set an “overweight” rating for the company in a research note on Monday, February 10th. Stifel Nicolaus decreased their target price on Skechers U.S.A. from $83.00 to $80.00 and set a “buy” rating for the company in a research note on Friday, February 7th. Finally, UBS Group reduced their target price on shares of Skechers U.S.A. from $92.00 to $90.00 and set a “buy” rating for the company in a report on Friday, February 7th. Three analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $80.42.

Skechers U.S.A. 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.