DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main Purchases 4,257 Shares of Skechers U.S.A., Inc. (NYSE:SKX)

DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main grew its position in Skechers U.S.A., Inc. (NYSE:SKX) by 5.8% in the 4th quarter, Holdings Channel.com reports. The institutional investor owned 77,761 shares of the textile maker’s stock after purchasing an additional 4,257 shares during the quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main’s holdings in Skechers U.S.A. were worth $5,229,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Raymond James Financial Inc. purchased a new stake in Skechers U.S.A. in the fourth quarter worth about $12,852,000. Schroder Investment Management Group raised its holdings in shares of Skechers U.S.A. by 11.3% in the 4th quarter. Schroder Investment Management Group now owns 177,343 shares of the textile maker’s stock valued at $12,010,000 after purchasing an additional 18,024 shares in the last quarter. Assenagon Asset Management S.A. lifted its position in shares of Skechers U.S.A. by 15.2% in the 4th 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. Nordea Investment Management AB bought a new position in shares of Skechers U.S.A. during the fourth quarter valued at approximately $2,752,000. Finally, Delphi Management Inc. MA purchased a new position in Skechers U.S.A. during the fourth quarter valued at approximately $1,517,000. Institutional investors own 79.96% of the company’s stock.

Analyst Ratings Changes

SKX has been the subject of a number of analyst reports. Barclays restated an “equal weight” rating and set a $63.00 target price (up previously from $53.00) on shares of Skechers U.S.A. in a report on Tuesday. Morgan Stanley restated an “equal weight” rating and set a $63.00 price objective (down from $73.00) on shares of Skechers U.S.A. in a research note on Wednesday. Raymond James lowered Skechers U.S.A. from a “moderate buy” rating to a “hold” rating in a research note on Monday, May 5th. UBS Group reiterated a “neutral” rating and issued a $63.00 target price (down from $64.00) on shares of Skechers U.S.A. in a report on Tuesday. Finally, Monness Crespi & Hardt cut shares of Skechers U.S.A. from a “strong-buy” rating to a “hold” rating in a report on Wednesday. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat.com, Skechers U.S.A. currently has a consensus rating of “Hold” and an average target price of $70.00.

Skechers U.S.A. Trading Up 0.1 %

NYSE:SKX opened at $61.50 on Friday. The company has a current ratio of 1.97, a quick ratio of 1.12 and a debt-to-equity ratio of 0.01. The firm has a fifty day simple moving average of $53.40 and a 200-day simple moving average of $62.06. Skechers U.S.A., Inc. has a 12 month low of $44.50 and a 12 month high of $78.85. The company has a market capitalization of $9.19 billion, a P/E ratio of 14.82, a PEG ratio of 1.11 and a beta of 1.06.

Skechers U.S.A. (NYSE:SKX) last posted its quarterly earnings results on Thursday, April 24th. The textile maker reported $1.34 earnings per share for the quarter, beating the consensus estimate of $1.17 by $0.17. The business had revenue of $2.41 billion for the quarter, compared to the consensus estimate of $2.43 billion. Skechers U.S.A. had a return on equity of 13.73% and a net margin of 7.13%. The company’s quarterly revenue was up 7.1% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.33 EPS. On average, equities research analysts anticipate that Skechers U.S.A., Inc. will post 4.47 earnings per share for the current year.

Insider Activity at Skechers U.S.A.

In other Skechers U.S.A. news, COO David Weinberg sold 36,000 shares of Skechers U.S.A. stock in a transaction that occurred on Wednesday, February 12th. The shares were sold at an average price of $62.72, for a total transaction of $2,257,920.00. Following the completion of the sale, the chief operating officer now directly owns 54,499 shares in the company, valued at approximately $3,418,177.28. The trade was a 39.78 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, EVP Mark A. Nason sold 12,046 shares of the stock in a transaction on Tuesday, February 18th. The stock was sold at an average price of $66.08, for a total transaction of $795,999.68. Following the completion of the sale, the executive vice president now owns 25,675 shares in the company, valued at $1,696,604. The trade was a 31.93 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 218,245 shares of company stock worth $13,452,902 over the last quarter. Insiders own 24.78% of the company’s stock.

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.