Brandes Investment Partners LP Has $867,000 Stake in Skechers U.S.A., Inc. (NYSE:SKX)

Brandes Investment Partners LP grew its holdings in Skechers U.S.A., Inc. (NYSE:SKX) by 10.3% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 12,891 shares of the textile maker’s stock after buying an additional 1,200 shares during the period. Brandes Investment Partners LP’s holdings in Skechers U.S.A. were worth $867,000 at the end of the most recent quarter.

Other hedge funds also recently made changes to their positions in the company. Sanctuary Advisors LLC lifted its position in shares of 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 buying an additional 13,836 shares during the last quarter. Victory Capital Management Inc. lifted its position in shares of Skechers U.S.A. by 22.3% in the third quarter. Victory Capital Management Inc. now owns 138,893 shares of the textile maker’s stock valued at $9,295,000 after buying an additional 25,289 shares during the last quarter. National Bank of Canada FI lifted its position in shares of Skechers U.S.A. by 2,340.0% in the third quarter. National Bank of Canada FI now owns 70,710 shares of the textile maker’s stock valued at $4,732,000 after buying an additional 67,812 shares during the last quarter. Charles Schwab Investment Management Inc. increased its stake in shares of Skechers U.S.A. by 1.3% during the third quarter. Charles Schwab Investment Management Inc. now owns 1,316,882 shares of the textile maker’s stock worth $88,126,000 after purchasing an additional 17,429 shares during the period. Finally, Assenagon Asset Management S.A. increased its stake in shares of Skechers U.S.A. by 15.2% during the fourth quarter. Assenagon Asset Management S.A. now owns 120,007 shares of the textile maker’s stock worth $8,069,000 after purchasing an additional 15,874 shares during the period. 79.96% of the stock is owned by institutional investors and hedge funds.

Skechers U.S.A. Trading Up 1.1 %

Shares of SKX stock opened at $56.58 on Friday. The stock’s fifty day moving average price is $66.83 and its two-hundred day moving average price is $65.91. The company has a market cap of $8.45 billion, a PE ratio of 13.63, a P/E/G ratio of 1.11 and a beta of 1.21. Skechers U.S.A., Inc. has a fifty-two week low of $53.79 and a fifty-two week 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.

Skechers U.S.A. (NYSE:SKX) last issued its earnings results 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 net margin of 7.13% and a return on equity of 13.73%. Equities analysts predict that Skechers U.S.A., Inc. will post 4.47 EPS for the current fiscal year.

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

In related news, CEO Robert Greenberg sold 52,600 shares of the firm’s stock in a transaction on Wednesday, February 12th. The stock was sold at an average price of $62.72, for a total transaction of $3,299,072.00. Following the sale, the chief executive officer now owns 61,367 shares of the company’s stock, valued at $3,848,938.24. This trade represents a 46.15 % decrease in their position. The transaction 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 firm’s 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 sale, the chief operating officer now directly owns 122,211 shares in the company, valued at approximately $8,246,798.28. This trade represents a 6.30 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 236,738 shares of company stock valued at $14,700,809. 24.75% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

A number of brokerages have recently weighed in on SKX. StockNews.com lowered Skechers U.S.A. from a “buy” rating to a “hold” rating in a research note on Monday, February 10th. Piper Sandler began coverage on Skechers U.S.A. in a research note on Tuesday, December 10th. They set a “neutral” rating and a $65.00 target price on the stock. Raymond James lowered their target price on 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. UBS Group lowered their target price on Skechers U.S.A. from $92.00 to $90.00 and set a “buy” rating on the stock in a research note on Friday, February 7th. Finally, Barclays lowered their target price on Skechers U.S.A. from $80.00 to $77.00 and set an “overweight” rating on the stock in a research note on Monday, February 10th. Three analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. According to MarketBeat, Skechers U.S.A. has a consensus rating of “Moderate Buy” and an average target price of $81.25.

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.