Skechers USA Inc (SKX) Holdings Trimmed by Meeder Asset Management Inc.

Meeder Asset Management Inc. reduced its stake in shares of Skechers USA Inc (NYSE:SKX) by 22.2% in the 4th quarter, HoldingsChannel reports. The fund owned 12,379 shares of the textile maker’s stock after selling 3,524 shares during the quarter. Meeder Asset Management Inc.’s holdings in Skechers USA were worth $467,000 as of its most recent SEC filing.

Other hedge funds also recently made changes to their positions in the company. Alliancebernstein L.P. boosted its holdings in shares of Skechers USA by 3.6% in the 2nd quarter. Alliancebernstein L.P. now owns 82,103 shares of the textile maker’s stock valued at $2,422,000 after buying an additional 2,820 shares during the period. PNC Financial Services Group Inc. boosted its holdings in shares of Skechers USA by 6.6% in the 2nd quarter. PNC Financial Services Group Inc. now owns 5,428 shares of the textile maker’s stock valued at $161,000 after buying an additional 335 shares during the period. UBS Asset Management Americas Inc. boosted its holdings in shares of Skechers USA by 17.6% in the 2nd quarter. UBS Asset Management Americas Inc. now owns 102,030 shares of the textile maker’s stock valued at $3,010,000 after buying an additional 15,284 shares during the period. Northern Trust Corp boosted its holdings in shares of Skechers USA by 0.4% in the 2nd quarter. Northern Trust Corp now owns 1,116,692 shares of the textile maker’s stock valued at $32,943,000 after buying an additional 4,973 shares during the period. Finally, California Public Employees Retirement System boosted its holdings in shares of Skechers USA by 4.4% in the 2nd quarter. California Public Employees Retirement System now owns 253,700 shares of the textile maker’s stock valued at $7,484,000 after buying an additional 10,800 shares during the period. 69.68% of the stock is owned by institutional investors.

In related news, CEO Robert Greenberg sold 500,000 shares of Skechers USA stock in a transaction dated Wednesday, December 20th. The shares were sold at an average price of $37.66, for a total value of $18,830,000.00. Following the sale, the chief executive officer now directly owns 267,713 shares in the company, valued at approximately $10,082,071.58. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director Thomas Walsh sold 750 shares of Skechers USA stock in a transaction dated Monday, November 27th. The shares were sold at an average price of $34.81, for a total transaction of $26,107.50. The disclosure for this sale can be found here. Over the last quarter, insiders sold 580,750 shares of company stock worth $21,665,988. 21.73% of the stock is currently owned by insiders.

Several research analysts have recently commented on SKX shares. Cowen reaffirmed a “buy” rating and issued a $35.00 price target on shares of Skechers USA in a report on Friday, October 27th. B. Riley set a $37.00 price target on shares of Skechers USA and gave the company a “buy” rating in a report on Friday, October 20th. Morgan Stanley lifted their price target on shares of Skechers USA from $28.50 to $31.00 and gave the company an “equal weight” rating in a report on Friday, October 20th. Vetr lowered shares of Skechers USA from a “strong-buy” rating to a “hold” rating and set a $33.73 price target for the company. in a report on Monday, October 23rd. Finally, Wells Fargo & Co lifted their price target on shares of Skechers USA from $33.00 to $36.00 and gave the company a “market perform” rating in a report on Friday, October 20th. Two investment analysts have rated the stock with a sell rating, five have given a hold rating and eleven have issued a buy rating to the stock. The stock presently has a consensus rating of “Buy” and a consensus price target of $41.00.

Shares of Skechers USA Inc (NYSE SKX) opened at $41.06 on Friday. The firm has a market cap of $6,050.38, a PE ratio of 21.45, a P/E/G ratio of 1.24 and a beta of 0.20. Skechers USA Inc has a 52-week low of $22.53 and a 52-week high of $42.73. The company has a debt-to-equity ratio of 0.04, a current ratio of 3.46 and a quick ratio of 2.30.

Skechers USA (NYSE:SKX) last issued its quarterly earnings data on Thursday, February 8th. The textile maker reported $0.21 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.13 by $0.08. The firm had revenue of $970.59 million for the quarter, compared to the consensus estimate of $881.39 million. Skechers USA had a net margin of 4.30% and a return on equity of 14.73%. Skechers USA’s quarterly revenue was up 27.0% compared to the same quarter last year. During the same period last year, the firm posted $0.04 EPS. equities analysts predict that Skechers USA Inc will post 2.19 earnings per share for the current year.

Skechers USA announced that its Board of Directors has authorized a stock buyback plan on Thursday, February 8th that permits the company to repurchase $150.00 million in outstanding shares. This repurchase authorization permits the textile maker to purchase shares of its stock through open market purchases. Stock repurchase plans are often an indication that the company’s leadership believes its stock is undervalued.

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Skechers USA Profile

Skechers U.SA, Inc is a designer and marketer of Skechers-branded lifestyle footwear for men, women and children, and performance footwear for men and women under the Skechers GO brand name. The Company operates through three segments: domestic wholesale sales, international wholesale sales, and retail sales, which includes e-commerce sales.

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Institutional Ownership by Quarter for Skechers USA (NYSE:SKX)

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