Prudential Financial Inc. Purchases 42,662 Shares of Skechers U.S.A., Inc. (NYSE:SKX)

Prudential Financial Inc. lifted its holdings in Skechers U.S.A., Inc. (NYSE:SKX) by 47.8% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 131,915 shares of the textile maker’s stock after purchasing an additional 42,662 shares during the period. Prudential Financial Inc. owned 0.09% of Skechers U.S.A. worth $8,870,000 as of its most recent filing with the SEC.

Other large investors have also made changes to their positions in the company. Bank of New York Mellon Corp increased its position in Skechers U.S.A. by 70.4% in the 4th quarter. Bank of New York Mellon Corp now owns 2,308,283 shares of the textile maker’s stock worth $155,209,000 after buying an additional 953,528 shares during the period. Wellington Management Group LLP increased its position in Skechers U.S.A. by 39.0% during the third quarter. Wellington Management Group LLP now owns 1,025,556 shares of the textile maker’s stock worth $68,630,000 after acquiring an additional 287,939 shares during the period. Vaughan Nelson Investment Management L.P. raised its stake in Skechers U.S.A. by 68.3% during the 4th 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 last quarter. Raymond James Financial Inc. acquired a new stake in Skechers U.S.A. in the 4th quarter worth $12,852,000. Finally, Bfsg LLC grew its position in Skechers U.S.A. by 1,519.6% in the 4th quarter. Bfsg LLC now owns 101,487 shares of the textile maker’s stock worth $6,824,000 after purchasing an additional 95,221 shares during the last quarter. Institutional investors and hedge funds own 79.96% of the company’s stock.

Insiders Place Their Bets

In other Skechers U.S.A. news, COO David Weinberg sold 8,219 shares of the business’s stock in a transaction dated Tuesday, December 31st. The shares were sold at an average price of $67.48, for a total value of $554,618.12. Following the completion of the transaction, the chief operating officer now directly owns 122,211 shares of the company’s stock, valued at approximately $8,246,798.28. The trade was a 6.30 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, 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 transaction of $693,289.52. Following the transaction, the president now owns 149,327 shares in the company, valued at $10,076,585.96. The trade was a 6.44 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 236,738 shares of company stock valued at $14,700,809. 24.75% of the stock is currently owned by corporate insiders.

Skechers U.S.A. Trading Down 1.6 %

Shares of Skechers U.S.A. stock opened at $56.90 on Friday. Skechers U.S.A., Inc. has a 12-month low of $53.79 and a 12-month high of $78.85. The stock has a market capitalization of $8.50 billion, a P/E ratio of 13.71, a price-to-earnings-growth ratio of 1.11 and a beta of 1.21. The company has a 50-day simple moving average of $64.28 and a 200 day simple moving average of $65.21. 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. (NYSE:SKX) last posted its quarterly earnings data on Thursday, February 6th. The textile maker reported $0.65 earnings per share for the quarter, missing the consensus estimate 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%. Research analysts expect that Skechers U.S.A., Inc. will post 4.47 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on the stock. Raymond James cut their price objective on shares of Skechers U.S.A. from $80.00 to $75.00 and set an “outperform” rating for the company in a research report on Friday, February 7th. StockNews.com lowered Skechers U.S.A. from a “buy” rating to a “hold” rating in a report on Monday, February 10th. Stifel Nicolaus lowered their price objective on Skechers U.S.A. from $83.00 to $80.00 and set a “buy” rating on the stock in a research report on Friday, February 7th. Needham & Company LLC reaffirmed a “hold” rating on shares of Skechers U.S.A. in a research report on Friday, February 7th. Finally, Bank of America decreased their price target on shares of Skechers U.S.A. from $76.00 to $70.00 and set a “buy” rating on the stock in a research note on Monday, March 24th. Three analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $80.42.

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.