Loomis Sayles & Co. L P Has $49.33 Million Holdings in Skechers U.S.A., Inc. (NYSE:SKX)

Loomis Sayles & Co. L P lessened its holdings in Skechers U.S.A., Inc. (NYSE:SKX) by 2.4% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 733,678 shares of the textile maker’s stock after selling 18,389 shares during the quarter. Loomis Sayles & Co. L P owned approximately 0.49% of Skechers U.S.A. worth $49,332,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. Sanctuary Advisors LLC increased its holdings in Skechers U.S.A. by 88.1% in the third quarter. Sanctuary Advisors LLC now owns 29,538 shares of the textile maker’s stock valued at $1,822,000 after purchasing an additional 13,836 shares during the last quarter. Raymond James Financial Inc. acquired a new position in shares of Skechers U.S.A. during the 4th quarter worth about $12,852,000. National Bank of Canada FI increased its stake in shares of Skechers U.S.A. by 2,340.0% in the 3rd 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 during the last quarter. Charles Schwab Investment Management Inc. raised its position in shares of Skechers U.S.A. by 1.3% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,316,882 shares of the textile maker’s stock valued at $88,126,000 after acquiring an additional 17,429 shares during the period. Finally, Assenagon Asset Management S.A. boosted its stake in Skechers U.S.A. by 15.2% during the 4th quarter. Assenagon Asset Management S.A. now owns 120,007 shares of the textile maker’s stock worth $8,069,000 after acquiring an additional 15,874 shares during the last quarter. Institutional investors and hedge funds own 79.96% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on the stock. Barclays cut their target price on shares of Skechers U.S.A. from $80.00 to $77.00 and set an “overweight” rating on the stock in a report on Monday, February 10th. TD Cowen raised their price objective on Skechers U.S.A. from $88.00 to $93.00 and gave the stock a “buy” rating in a research note on Wednesday, January 8th. 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. UBS Group dropped their price target on Skechers U.S.A. from $92.00 to $90.00 and set a “buy” rating on the stock in a research report on Friday, February 7th. Finally, Needham & Company LLC reiterated a “hold” rating on shares of Skechers U.S.A. in a report on Friday, February 7th. Three research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $80.42.

Skechers U.S.A. Price Performance

NYSE SKX opened at $57.79 on Friday. The firm’s 50 day moving average is $64.54 and its 200-day moving average is $65.27. The company has a quick ratio of 1.12, a current ratio of 1.97 and a debt-to-equity ratio of 0.01. The company has a market capitalization of $8.63 billion, a PE ratio of 13.93, a price-to-earnings-growth ratio of 1.11 and a beta of 1.21. Skechers U.S.A., Inc. has a 12-month low of $53.79 and a 12-month high of $78.85.

Skechers U.S.A. (NYSE:SKX) last issued its quarterly earnings results on Thursday, February 6th. The textile maker reported $0.65 earnings per share (EPS) for the quarter, missing the consensus estimate 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%. Equities research analysts anticipate that Skechers U.S.A., Inc. will post 4.47 earnings per share for the current fiscal year.

Insider Activity at Skechers U.S.A.

In related news, General Counsel Phillip Paccione sold 10,994 shares of the business’s stock in a transaction on Monday, March 3rd. The shares were sold at an average price of $56.63, for a total transaction of $622,590.22. Following the transaction, the general counsel now directly owns 15,000 shares in the company, valued at approximately $849,450. The trade was a 42.29 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Robert Greenberg sold 52,600 shares of the stock in a transaction on Wednesday, February 12th. The shares were sold at an average price of $62.72, for a total transaction of $3,299,072.00. Following the completion of the sale, the chief executive officer now owns 61,367 shares of the company’s stock, valued at approximately $3,848,938.24. This represents a 46.15 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 236,738 shares of company stock valued at $14,700,809. 24.75% of the stock is owned by insiders.

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.