Todd Asset Management LLC Purchases 6,821 Shares of Skechers U.S.A., Inc. (NYSE:SKX)

Todd Asset Management LLC boosted its position in Skechers U.S.A., Inc. (NYSE:SKX) by 1.6% in the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 421,632 shares of the textile maker’s stock after purchasing an additional 6,821 shares during the period. Todd Asset Management LLC owned about 0.28% of Skechers U.S.A. worth $28,351,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in the company. UMB Bank n.a. increased its position in shares of 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 valued at $46,000 after purchasing an additional 239 shares during the last quarter. IFP Advisors Inc grew its position in 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. Venturi Wealth Management LLC raised its position in shares of Skechers U.S.A. by 52.9% during the 3rd quarter. Venturi Wealth Management LLC now owns 864 shares of the textile maker’s stock valued at $58,000 after buying an additional 299 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. purchased a new position in shares of Skechers U.S.A. during the 4th quarter valued at about $65,000. Finally, Brooklyn Investment Group purchased a new stake in Skechers U.S.A. during the third quarter valued at about $67,000. 79.96% of the stock is owned by institutional investors.

Skechers U.S.A. Price Performance

Shares of SKX opened at $61.76 on Tuesday. The firm’s 50 day moving average price is $69.33 and its 200 day moving average price is $66.64. The company has a market cap of $9.32 billion, a P/E ratio of 14.88, a PEG ratio of 1.11 and a beta of 1.19. The company has a quick ratio of 1.12, a current ratio of 1.97 and a debt-to-equity ratio of 0.01. Skechers U.S.A., Inc. has a fifty-two week low of $55.67 and a fifty-two week high of $78.85.

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 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%. On average, research analysts forecast that Skechers U.S.A., Inc. will post 4.47 earnings per share for the current fiscal year.

Insider Transactions at Skechers U.S.A.

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 transaction of $693,289.52. Following the completion of the sale, the president now directly owns 149,327 shares in the company, valued at $10,076,585.96. This represents a 6.44 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, COO David Weinberg sold 8,219 shares of the company’s stock in a transaction dated Tuesday, December 31st. The shares were sold at an average price of $67.48, for a total transaction of $554,618.12. Following the completion of the transaction, the chief operating officer now directly owns 122,211 shares of the company’s stock, valued at approximately $8,246,798.28. The trade was a 6.30 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 119,139 shares of company stock valued at $7,600,899 in the last quarter. 24.75% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on SKX. Barclays dropped their price target on 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. StockNews.com downgraded Skechers U.S.A. from a “buy” rating to a “hold” rating in a report on Monday, February 10th. TD Cowen raised their price target on shares of 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. UBS Group dropped their price target on shares of Skechers U.S.A. from $92.00 to $90.00 and set a “buy” rating on the stock in a report on Friday, February 7th. Finally, Needham & Company LLC reissued a “hold” rating on shares of Skechers U.S.A. in a report on Friday, February 7th. Three equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. Based on data from MarketBeat, Skechers U.S.A. currently has an average rating of “Moderate Buy” and an average target price of $81.25.

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.