Amundi trimmed its holdings in shares of Skechers U.S.A., Inc. (NYSE:SKX - Free Report) by 13.3% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 232,842 shares of the textile maker's stock after selling 35,823 shares during the period. Amundi owned approximately 0.15% of Skechers U.S.A. worth $16,138,000 as of its most recent SEC filing.
A number of other hedge funds have also recently made changes to their positions in SKX. Spire Wealth Management raised its stake in Skechers U.S.A. by 11.6% during the fourth quarter. Spire Wealth Management now owns 1,486 shares of the textile maker's stock valued at $100,000 after buying an additional 155 shares during the last quarter. Calamos Wealth Management LLC increased its holdings in shares of Skechers U.S.A. by 0.9% during the fourth quarter. Calamos Wealth Management LLC now owns 18,257 shares of the textile maker's stock valued at $1,228,000 after acquiring an additional 157 shares in the last quarter. Lindenwold Advisors INC raised its position in shares of Skechers U.S.A. by 3.0% in the 3rd quarter. Lindenwold Advisors INC now owns 6,663 shares of the textile maker's stock worth $446,000 after purchasing an additional 195 shares during the last quarter. Blue Trust Inc. boosted its stake in Skechers U.S.A. by 20.7% in the 4th quarter. Blue Trust Inc. now owns 1,208 shares of the textile maker's stock worth $81,000 after purchasing an additional 207 shares in the last quarter. Finally, CIBC Asset Management Inc grew its position in Skechers U.S.A. by 5.4% during the 4th quarter. CIBC Asset Management Inc now owns 4,166 shares of the textile maker's stock valued at $280,000 after purchasing an additional 213 shares during the last quarter. 79.96% of the stock is owned by institutional investors.
In other 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 value of $693,289.52. Following the completion of the transaction, the president now owns 149,327 shares of the company's stock, valued at $10,076,585.96. This represents a 6.44 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, General Counsel Phillip Paccione sold 10,994 shares of Skechers U.S.A. stock in a transaction that occurred on Monday, March 3rd. The shares were sold at an average price of $56.63, for a total value of $622,590.22. Following the sale, the general counsel now directly owns 15,000 shares in the company, valued at $849,450. This trade represents a 42.29 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 236,738 shares of company stock valued at $14,700,809. 24.75% of the stock is owned by company insiders.
Shares of NYSE SKX traded up $0.61 during midday trading on Friday, hitting $56.58. 2,754,393 shares of the company's stock traded hands, compared to its average volume of 2,006,092. The firm has a fifty day moving average of $67.08 and a 200 day moving average of $66.03. Skechers U.S.A., Inc. has a 1 year low of $53.79 and a 1 year high of $78.85. The company has a debt-to-equity ratio of 0.01, a quick ratio of 1.12 and a current ratio of 1.97. The stock has a market capitalization of $8.54 billion, a price-to-earnings ratio of 13.63, a price-to-earnings-growth ratio of 1.11 and a beta of 1.21.
Skechers U.S.A. (NYSE:SKX - Get Free Report) last announced its earnings results on Thursday, February 6th. The textile maker reported $0.65 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%. On average, analysts forecast that Skechers U.S.A., Inc. will post 4.47 earnings per share for the current year.
Several research analysts have recently issued reports on SKX shares. Raymond James dropped their target price on shares of Skechers U.S.A. from $80.00 to $75.00 and set an "outperform" rating on the stock in a research note on Friday, February 7th. Piper Sandler assumed coverage on Skechers U.S.A. in a research report on Tuesday, December 10th. They issued a "neutral" rating and a $65.00 price objective on the stock. UBS Group reduced their target price on 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. Needham & Company LLC reaffirmed a "hold" rating on shares of Skechers U.S.A. in a report on Friday, February 7th. Finally, StockNews.com downgraded Skechers U.S.A. from a "buy" rating to a "hold" rating in a report on Monday, February 10th. Three equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $81.25.
View Our Latest Research Report on SKX
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.
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