Cookson Peirce & Co. Inc. Sells 10,424 Shares of Skechers U.S.A., Inc. (NYSE:SKX)

Cookson Peirce & Co. Inc. cut its holdings in Skechers U.S.A., Inc. (NYSE:SKX) by 4.7% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 211,826 shares of the textile maker’s stock after selling 10,424 shares during the period. Cookson Peirce & Co. Inc. owned 0.14% of Skechers U.S.A. worth $13,205,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Raymond James & Associates raised its position in Skechers U.S.A. by 354.5% in the fourth quarter. Raymond James & Associates now owns 52,280 shares of the textile maker’s stock worth $3,259,000 after acquiring an additional 40,778 shares during the period. Lecap Asset Management Ltd. purchased a new stake in shares of Skechers U.S.A. in the fourth quarter worth $1,798,000. Vaughan Nelson Investment Management L.P. increased its stake in shares of Skechers U.S.A. by 371.8% in the fourth quarter. Vaughan Nelson Investment Management L.P. now owns 758,469 shares of the textile maker’s stock worth $47,282,000 after purchasing an additional 597,702 shares in the last quarter. Envestnet Asset Management Inc. increased its stake in shares of Skechers U.S.A. by 56.8% in the third quarter. Envestnet Asset Management Inc. now owns 96,433 shares of the textile maker’s stock worth $4,720,000 after purchasing an additional 34,926 shares in the last quarter. Finally, Hsbc Holdings PLC increased its stake in shares of Skechers U.S.A. by 117.4% in the third quarter. Hsbc Holdings PLC now owns 99,916 shares of the textile maker’s stock worth $4,915,000 after purchasing an additional 53,962 shares in the last quarter. 79.96% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other Skechers U.S.A. news, CEO Robert Greenberg sold 99,139 shares of the company’s stock in a transaction on Thursday, February 8th. The stock was sold at an average price of $57.87, for a total transaction of $5,737,173.93. Following the completion of the sale, the chief executive officer now owns 196,050 shares in the company, valued at $11,345,413.50. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. In other Skechers U.S.A. news, CEO Robert Greenberg sold 99,139 shares of the company’s stock in a transaction on Thursday, February 8th. The stock was sold at an average price of $57.87, for a total transaction of $5,737,173.93. Following the completion of the sale, the chief executive officer now owns 196,050 shares in the company, valued at $11,345,413.50. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, COO David Weinberg sold 67,390 shares of the company’s stock in a transaction on Thursday, February 8th. The stock was sold at an average price of $57.87, for a total value of $3,899,859.30. Following the sale, the chief operating officer now owns 141,405 shares of the company’s stock, valued at approximately $8,183,107.35. The disclosure for this sale can be found here. Insiders have sold a total of 254,875 shares of company stock valued at $15,021,192 over the last quarter. 24.79% of the stock is owned by corporate insiders.

Skechers U.S.A. Trading Up 0.8 %

Shares of SKX traded up $0.43 during mid-day trading on Tuesday, reaching $56.91. 825,453 shares of the company’s stock traded hands, compared to its average volume of 1,558,514. The stock has a market cap of $8.72 billion, a P/E ratio of 16.34, a P/E/G ratio of 1.02 and a beta of 1.32. The stock’s 50-day moving average is $59.76 and its two-hundred day moving average is $57.53. Skechers U.S.A., Inc. has a 12 month low of $45.58 and a 12 month high of $65.17. The company has a debt-to-equity ratio of 0.06, a current ratio of 2.38 and a quick ratio of 1.46.

Skechers U.S.A. (NYSE:SKX) last announced its quarterly earnings data on Thursday, February 1st. The textile maker reported $0.56 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.52 by $0.04. Skechers U.S.A. had a return on equity of 12.89% and a net margin of 6.82%. The company had revenue of $1.96 billion for the quarter, compared to analysts’ expectations of $2.03 billion. During the same quarter in the prior year, the firm earned $0.48 earnings per share. Skechers U.S.A.’s revenue was up 4.4% compared to the same quarter last year. Research analysts forecast that Skechers U.S.A., Inc. will post 3.82 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on SKX shares. Evercore ISI started coverage on shares of Skechers U.S.A. in a research note on Thursday, February 15th. They issued an “outperform” rating and a $73.00 price objective for the company. Wedbush cut their target price on shares of Skechers U.S.A. from $75.00 to $68.00 and set an “outperform” rating for the company in a research note on Friday, February 2nd. Raymond James dropped their price objective on shares of Skechers U.S.A. from $68.00 to $66.00 and set an “outperform” rating for the company in a research note on Monday, February 5th. Stifel Nicolaus reduced their target price on shares of Skechers U.S.A. from $72.00 to $70.00 and set a “buy” rating on the stock in a report on Friday, February 2nd. Finally, Monness Crespi & Hardt upped their target price on shares of Skechers U.S.A. from $60.00 to $72.00 and gave the company a “buy” rating in a research report on Thursday, January 18th. Two analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $66.58.

Skechers U.S.A. Company 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.