Charles Schwab Investment Management Inc. Has $88.61 Million Stake in Skechers U.S.A., Inc. (NYSE:SKX)

Charles Schwab Investment Management Inc. lifted its holdings in shares of Skechers U.S.A., Inc. (NYSE:SKX) by 0.1% in the 4th quarter, Holdings Channel reports. The institutional investor owned 1,317,778 shares of the textile maker’s stock after acquiring an additional 896 shares during the period. Charles Schwab Investment Management Inc.’s holdings in Skechers U.S.A. were worth $88,607,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of the business. UMB Bank n.a. boosted its stake in Skechers U.S.A. by 53.1% during the 4th quarter. UMB Bank n.a. now owns 689 shares of the textile maker’s stock worth $46,000 after acquiring an additional 239 shares during the last quarter. IFP Advisors Inc boosted its stake in Skechers U.S.A. by 62.4% during the 4th quarter. IFP Advisors Inc now owns 825 shares of the textile maker’s stock worth $55,000 after acquiring an additional 317 shares during the last quarter. Venturi Wealth Management LLC boosted its stake in Skechers U.S.A. by 52.9% during the 3rd quarter. Venturi Wealth Management LLC now owns 864 shares of the textile maker’s stock worth $58,000 after acquiring an additional 299 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. bought a new position in Skechers U.S.A. during the 4th quarter worth approximately $65,000. Finally, Brooklyn Investment Group bought a new position in Skechers U.S.A. during the 3rd quarter worth approximately $67,000. Institutional investors and hedge funds own 79.96% of the company’s stock.

Analysts Set New Price Targets

Several research firms recently weighed in on SKX. 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 note on Tuesday, January 28th. Needham & Company LLC reaffirmed a “hold” rating on shares of Skechers U.S.A. in a research note on Friday, February 7th. StockNews.com lowered shares of Skechers U.S.A. from a “buy” rating to a “hold” rating in a research note on Monday, February 10th. Piper Sandler started coverage on shares of Skechers U.S.A. in a research note on Tuesday, December 10th. They issued a “neutral” rating and a $65.00 price target on the stock. Finally, UBS Group cut their price target on shares of 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. Three investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $81.25.

Insider Buying and Selling

In related news, President Michael Greenberg sold 10,274 shares of the business’s 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 transaction, the president now directly owns 149,327 shares in the company, valued at approximately $10,076,585.96. The trade was a 6.44 % 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, General Counsel Phillip Paccione sold 10,994 shares of the business’s stock in a transaction on Monday, March 3rd. The stock was sold at an average price of $56.63, for a total transaction of $622,590.22. Following the transaction, the general counsel now 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 disclosure for this sale can be found here. Over the last three months, insiders have sold 236,738 shares of company stock worth $14,700,809. Insiders own 24.75% of the company’s stock.

Skechers U.S.A. Price Performance

NYSE SKX opened at $59.06 on Monday. The company has a quick ratio of 1.12, a current ratio of 1.97 and a debt-to-equity ratio of 0.01. 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 market capitalization of $8.92 billion, a PE ratio of 14.23, a price-to-earnings-growth ratio of 1.11 and a beta of 1.21. The firm’s 50 day moving average is $68.01 and its 200-day moving average is $66.36.

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

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.