Bank of New York Mellon Corp Raises Position in Skechers U.S.A., Inc. (NYSE:SKX)

Bank of New York Mellon Corp raised its holdings in Skechers U.S.A., Inc. (NYSE:SKX) by 70.4% in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 2,308,283 shares of the textile maker’s stock after buying an additional 953,528 shares during the period. Bank of New York Mellon Corp owned approximately 1.53% of Skechers U.S.A. worth $155,209,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in SKX. Raymond James & Associates boosted its position in Skechers U.S.A. by 192.7% in the 3rd quarter. Raymond James & Associates now owns 52,570 shares of the textile maker’s stock valued at $3,518,000 after buying an additional 34,612 shares during the period. Private Advisor Group LLC purchased a new position in Skechers U.S.A. in the 3rd quarter valued at approximately $289,000. State of Alaska Department of Revenue boosted its position in Skechers U.S.A. by 165.9% in the 3rd quarter. State of Alaska Department of Revenue now owns 38,535 shares of the textile maker’s stock valued at $2,578,000 after buying an additional 24,040 shares during the period. Integrated Advisors Network LLC purchased a new position in Skechers U.S.A. in the 3rd quarter valued at approximately $229,000. Finally, Harbor Capital Advisors Inc. boosted its position in Skechers U.S.A. by 241.4% in the 3rd quarter. Harbor Capital Advisors Inc. now owns 89,561 shares of the textile maker’s stock valued at $5,993,000 after buying an additional 63,328 shares during the period. Hedge funds and other institutional investors own 79.96% of the company’s stock.

Skechers U.S.A. Price Performance

Shares of NYSE:SKX opened at $61.01 on Friday. The company’s fifty day moving average price is $68.91 and its 200 day moving average price is $66.57. Skechers U.S.A., Inc. has a 12 month low of $55.67 and a 12 month high of $78.85. The company has a debt-to-equity ratio of 0.01, a current ratio of 1.97 and a quick ratio of 1.12. The firm has a market capitalization of $9.21 billion, a P/E ratio of 14.70, a P/E/G ratio of 1.11 and a beta of 1.19.

Skechers U.S.A. (NYSE:SKX) last announced its quarterly earnings results on Thursday, February 6th. The textile maker reported $0.65 EPS 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%. As a group, sell-side analysts predict that Skechers U.S.A., Inc. will post 4.47 earnings per share for the current fiscal year.

Analysts Set New Price Targets

SKX has been the subject of several recent research reports. Stifel Nicolaus decreased their price target on shares of Skechers U.S.A. from $83.00 to $80.00 and set a “buy” rating for the company in a research report on Friday, February 7th. Needham & Company LLC reaffirmed a “hold” rating on shares of Skechers U.S.A. in a research report on Friday, February 7th. TD Cowen lifted their price objective on shares of 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. Evercore ISI lifted their price objective on shares of 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. Finally, UBS Group decreased their price objective on shares of Skechers U.S.A. from $92.00 to $90.00 and set a “buy” rating for the company in a research report on Friday, February 7th. Three equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. Based on data from MarketBeat, Skechers U.S.A. currently has an average rating of “Moderate Buy” and a consensus price target of $81.25.

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

In other Skechers U.S.A. news, COO David Weinberg sold 8,219 shares of Skechers U.S.A. stock in a transaction on Tuesday, December 31st. The shares were sold at an average price of $67.48, for a total value of $554,618.12. Following the transaction, the chief operating officer now directly owns 122,211 shares in the company, valued at approximately $8,246,798.28. The trade was a 6.30 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, President Michael Greenberg sold 10,274 shares of Skechers U.S.A. stock in a transaction on Tuesday, December 31st. The shares were sold at an average price of $67.48, for a total transaction of $693,289.52. Following the completion of the transaction, the president now owns 149,327 shares in the company, valued at approximately $10,076,585.96. This represents a 6.44 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 119,139 shares of company stock worth $7,600,899. 24.75% of the stock is owned by company insiders.

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.