CIBC Asset Management Inc Buys 213 Shares of Skechers U.S.A., Inc. (NYSE:SKX)

CIBC Asset Management Inc grew its position in shares of Skechers U.S.A., Inc. (NYSE:SKX) by 5.4% in the 4th quarter, Holdings Channel reports. The firm owned 4,166 shares of the textile maker’s stock after acquiring an additional 213 shares during the quarter. CIBC Asset Management Inc’s holdings in Skechers U.S.A. were worth $280,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently modified their holdings of SKX. Sanctuary Advisors LLC raised its stake in Skechers U.S.A. by 2.9% during the fourth quarter. Sanctuary Advisors LLC now owns 30,396 shares of the textile maker’s stock worth $2,044,000 after buying an additional 858 shares during the last quarter. Empire Life Investments Inc. acquired a new stake in Skechers U.S.A. during the 4th quarter worth about $1,679,000. Rhumbline Advisers grew its holdings in Skechers U.S.A. by 6.8% during the 4th quarter. Rhumbline Advisers now owns 378,469 shares of the textile maker’s stock worth $25,448,000 after acquiring an additional 24,247 shares during the period. Blue Trust Inc. raised its position in shares of 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 acquiring an additional 207 shares in the last quarter. Finally, Vontobel Holding Ltd. acquired a new position in shares of Skechers U.S.A. in the 4th quarter valued at about $326,000. Institutional investors and hedge funds own 79.96% of the company’s stock.

Insider Activity

In other news, President Michael Greenberg sold 10,274 shares of the company’s stock in a transaction that occurred on 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 directly 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, COO David Weinberg sold 8,219 shares of the 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 $554,618.12. Following the sale, the chief operating officer now directly owns 122,211 shares of the company’s stock, valued at $8,246,798.28. The trade was a 6.30 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 119,139 shares of company stock worth $7,600,899 over the last quarter. Insiders own 24.75% of the company’s stock.

Analyst Upgrades and Downgrades

SKX has been the subject of several recent analyst reports. TD Cowen raised their target price on Skechers U.S.A. from $88.00 to $93.00 and gave the stock a “buy” rating in a research note on Wednesday, January 8th. 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. Needham & Company LLC reissued a “hold” rating on shares of Skechers U.S.A. in a research note on Friday, February 7th. Stifel Nicolaus reduced their price target on shares of Skechers U.S.A. from $83.00 to $80.00 and set a “buy” rating for the company in a report on Friday, February 7th. Finally, UBS Group dropped their price objective on shares of Skechers U.S.A. from $92.00 to $90.00 and set a “buy” rating on the stock in a report on Friday, February 7th. Three equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $81.25.

Skechers U.S.A. Stock Performance

Shares of Skechers U.S.A. stock opened at $61.76 on Tuesday. 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 1.12, a current ratio of 1.97 and a debt-to-equity ratio of 0.01. The business has a 50 day moving average price of $69.33 and a 200-day moving average price of $66.64. The company has a market cap of $9.32 billion, a PE ratio of 14.88, a price-to-earnings-growth ratio of 1.11 and a beta of 1.19.

Skechers U.S.A. (NYSE:SKX) last released its quarterly 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%. Equities 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.