Sumitomo Mitsui Trust Group Inc. Has $1.53 Million Stock Position in Skechers U.S.A., Inc. (NYSE:SKX)

Sumitomo Mitsui Trust Group Inc. reduced its stake in shares of Skechers U.S.A., Inc. (NYSE:SKX) by 2.9% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 22,684 shares of the textile maker’s stock after selling 667 shares during the quarter. Sumitomo Mitsui Trust Group Inc.’s holdings in Skechers U.S.A. were worth $1,525,000 at the end of the most recent quarter.

Several other large investors have also recently bought and sold shares of the stock. UMB Bank n.a. increased its holdings in Skechers U.S.A. by 53.1% in the 4th quarter. UMB Bank n.a. now owns 689 shares of the textile maker’s stock valued at $46,000 after buying an additional 239 shares during the period. Venturi Wealth Management LLC lifted its position 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 valued at $58,000 after purchasing an additional 299 shares during the period. Mirae Asset Global Investments Co. Ltd. acquired a new position in Skechers U.S.A. during the 4th quarter valued at about $65,000. Brooklyn Investment Group acquired a new position in Skechers U.S.A. during the 3rd quarter valued at about $67,000. Finally, Blue Trust Inc. lifted its position in Skechers U.S.A. by 778.1% during the 3rd quarter. Blue Trust Inc. now owns 1,001 shares of the textile maker’s stock valued at $69,000 after purchasing an additional 887 shares during the period. 79.96% of the stock is currently owned by institutional investors and hedge funds.

Skechers U.S.A. Stock Down 0.5 %

SKX stock opened at $63.99 on Friday. Skechers U.S.A., Inc. has a 52 week low of $55.67 and a 52 week high of $78.85. The company has a quick ratio of 1.25, a current ratio of 1.96 and a debt-to-equity ratio of 0.01. The business has a 50-day simple moving average of $70.16 and a 200 day simple moving average of $66.46. The company has a market cap of $9.66 billion, a PE ratio of 15.42, a price-to-earnings-growth ratio of 0.95 and a beta of 1.19.

Skechers U.S.A. (NYSE:SKX) last released its earnings results 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 13.81%. Sell-side analysts anticipate that Skechers U.S.A., Inc. will post 4.79 EPS for the current fiscal year.

Insider Buying and Selling

In other Skechers U.S.A. news, CEO Robert Greenberg sold 52,600 shares of the business’s stock in a transaction that occurred on Wednesday, February 12th. The stock was sold at an average price of $62.72, for a total value of $3,299,072.00. Following the transaction, the chief executive officer now directly owns 61,367 shares of the company’s stock, valued at approximately $3,848,938.24. The trade was a 46.15 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, President Michael Greenberg sold 10,274 shares of the business’s stock in a transaction that occurred on Tuesday, December 31st. The shares were 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 directly owns 149,327 shares in the company, valued at approximately $10,076,585.96. This trade represents a 6.44 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 107,093 shares of company stock valued at $6,804,900 over the last ninety days. 24.75% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on the stock. Evercore ISI increased their price target on shares of Skechers U.S.A. from $72.00 to $85.00 and gave the company an “outperform” rating in a research report on Tuesday, January 28th. Morgan Stanley increased their target price on Skechers U.S.A. from $81.00 to $84.00 and gave the stock an “overweight” rating in a research note on Friday, October 25th. UBS Group decreased their price target on shares of Skechers U.S.A. from $92.00 to $90.00 and set a “buy” rating for the company in a research note on Friday, February 7th. StockNews.com cut shares of Skechers U.S.A. from a “buy” rating to a “hold” rating in a research note on Monday, February 10th. Finally, Deutsche Bank Aktiengesellschaft raised their target price on shares of Skechers U.S.A. from $83.00 to $84.00 and gave the company a “buy” rating in a research note on Friday, October 25th. Three equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to data from MarketBeat.com, the company presently has an average 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.