Zurcher Kantonalbank Zurich Cantonalbank Grows Stock Holdings in Skechers U.S.A., Inc. (NYSE:SKX)

Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in shares of Skechers U.S.A., Inc. (NYSE:SKX) by 2.9% in the 4th quarter, Holdings Channel.com reports. The institutional investor owned 23,680 shares of the textile maker’s stock after purchasing an additional 671 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Skechers U.S.A. were worth $1,592,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of SKX. Pacer Advisors Inc. grew its stake in Skechers U.S.A. by 5,780.6% during the third quarter. Pacer Advisors Inc. now owns 2,639,390 shares of the textile maker’s stock worth $176,628,000 after buying an additional 2,594,507 shares during the period. Bank of New York Mellon Corp boosted its stake in shares of Skechers U.S.A. by 70.4% in the fourth quarter. Bank of New York Mellon Corp now owns 2,308,283 shares of the textile maker’s stock valued at $155,209,000 after purchasing an additional 953,528 shares during the period. Commerce Bank boosted its stake in shares of Skechers U.S.A. by 949.5% in the third quarter. Commerce Bank now owns 467,774 shares of the textile maker’s stock valued at $31,303,000 after purchasing an additional 423,204 shares during the period. Wellington Management Group LLP boosted its stake in shares of Skechers U.S.A. by 39.0% in the third quarter. Wellington Management Group LLP now owns 1,025,556 shares of the textile maker’s stock valued at $68,630,000 after purchasing an additional 287,939 shares during the period. Finally, Vaughan Nelson Investment Management L.P. boosted its stake in shares of Skechers U.S.A. by 68.3% in the fourth quarter. Vaughan Nelson Investment Management L.P. now owns 623,745 shares of the textile maker’s stock valued at $41,940,000 after purchasing an additional 253,045 shares during the period. 79.96% of the stock is currently owned by hedge funds and other institutional investors.

Skechers U.S.A. Stock Up 1.7 %

Shares of NYSE:SKX opened at $57.45 on Tuesday. The stock has a market capitalization of $8.58 billion, a price-to-earnings ratio of 13.84, a price-to-earnings-growth ratio of 1.11 and a beta of 1.21. Skechers U.S.A., Inc. has a 1-year low of $53.79 and a 1-year high of $78.85. The company’s fifty day moving average is $66.58 and its two-hundred day moving average is $65.82. The company has a debt-to-equity ratio of 0.01, a quick ratio of 1.12 and a current ratio of 1.97.

Skechers U.S.A. (NYSE:SKX) last issued its earnings results on Thursday, February 6th. The textile maker reported $0.65 earnings per share for the quarter, missing analysts’ consensus estimates of $0.73 by ($0.08). Skechers U.S.A. had a return on equity of 13.73% and a net margin of 7.13%. Equities analysts anticipate that Skechers U.S.A., Inc. will post 4.47 EPS for the current year.

Insiders Place Their Bets

In related news, CEO Robert Greenberg sold 52,600 shares of the stock in a transaction dated Wednesday, February 12th. The shares were sold at an average price of $62.72, for a total value of $3,299,072.00. Following the sale, the chief executive officer now owns 61,367 shares of the company’s stock, valued at $3,848,938.24. This trade represents a 46.15 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, COO David Weinberg sold 8,219 shares of the stock in a transaction dated Tuesday, December 31st. The stock was sold at an average price of $67.48, for a total transaction of $554,618.12. Following the completion of the sale, the chief operating officer now directly owns 122,211 shares in the company, valued at approximately $8,246,798.28. This trade represents a 6.30 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 236,738 shares of company stock valued at $14,700,809. Company insiders own 24.75% of the company’s stock.

Analysts Set New Price Targets

SKX has been the subject of several analyst reports. Barclays decreased their target price on shares of Skechers U.S.A. from $80.00 to $77.00 and set an “overweight” rating for the company in a research note on Monday, February 10th. TD Cowen upped their target price on shares of Skechers U.S.A. from $88.00 to $93.00 and gave the company a “buy” rating in a research note on Wednesday, January 8th. Evercore ISI upped their target price on shares of Skechers U.S.A. from $72.00 to $85.00 and gave the company an “outperform” rating in a research note on Tuesday, January 28th. UBS Group decreased their target price 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. Finally, Needham & Company LLC reaffirmed a “hold” rating on shares of Skechers U.S.A. in a report on Friday, February 7th. Three analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to data from MarketBeat, Skechers U.S.A. 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.