Skechers U.S.A., Inc. (NYSE:SKX) Shares Sold by Mitsubishi UFJ Trust & Banking Corp

Mitsubishi UFJ Trust & Banking Corp decreased its position in shares of Skechers U.S.A., Inc. (NYSE:SKXGet Rating) by 39.8% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 5,662 shares of the textile maker’s stock after selling 3,736 shares during the period. Mitsubishi UFJ Trust & Banking Corp’s holdings in Skechers U.S.A. were worth $246,000 as of its most recent SEC filing.

Other institutional investors have also made changes to their positions in the company. Morgan Stanley lifted its stake in shares of Skechers U.S.A. by 134.7% in the 2nd quarter. Morgan Stanley now owns 310,494 shares of the textile maker’s stock worth $15,472,000 after acquiring an additional 178,175 shares during the period. Deutsche Bank AG boosted its holdings in Skechers U.S.A. by 29.0% in the 3rd quarter. Deutsche Bank AG now owns 76,399 shares of the textile maker’s stock valued at $3,218,000 after purchasing an additional 17,195 shares in the last quarter. Advisor Group Holdings Inc. increased its position in Skechers U.S.A. by 7.5% during the 3rd quarter. Advisor Group Holdings Inc. now owns 17,644 shares of the textile maker’s stock worth $744,000 after purchasing an additional 1,233 shares during the period. First Horizon Advisors Inc. increased its position in Skechers U.S.A. by 57.2% during the 3rd quarter. First Horizon Advisors Inc. now owns 1,682 shares of the textile maker’s stock worth $71,000 after purchasing an additional 612 shares during the period. Finally, CIBC Asset Management Inc raised its stake in shares of Skechers U.S.A. by 7.6% during the 3rd quarter. CIBC Asset Management Inc now owns 6,219 shares of the textile maker’s stock worth $262,000 after buying an additional 437 shares in the last quarter. 79.71% of the stock is currently owned by institutional investors and hedge funds.

NYSE:SKX opened at $37.89 on Friday. The company has a debt-to-equity ratio of 0.07, a current ratio of 2.44 and a quick ratio of 1.41. The firm has a market cap of $5.91 billion, a PE ratio of 7.78 and a beta of 1.33. The firm has a 50 day simple moving average of $39.02 and a 200-day simple moving average of $42.85. Skechers U.S.A., Inc. has a 1-year low of $33.50 and a 1-year high of $55.87.

Skechers U.S.A. (NYSE:SKXGet Rating) last released its earnings results on Tuesday, April 26th. The textile maker reported $0.80 EPS for the quarter, topping the consensus estimate of $0.72 by $0.08. Skechers U.S.A. had a net margin of 11.45% and a return on equity of 12.94%. During the same period in the previous year, the company posted $0.63 earnings per share. As a group, sell-side analysts expect that Skechers U.S.A., Inc. will post 2.84 earnings per share for the current fiscal year.

In related news, General Counsel Phillip Paccione sold 11,696 shares of Skechers U.S.A. stock in a transaction on Wednesday, March 2nd. The stock was sold at an average price of $43.30, for a total value of $506,436.80. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO Robert Greenberg sold 85,083 shares of the company’s stock in a transaction dated Wednesday, March 2nd. The stock was sold at an average price of $43.30, for a total value of $3,684,093.90. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 153,501 shares of company stock worth $6,646,593. Insiders own 24.44% of the company’s stock.

Several research analysts have issued reports on the company. OTR Global upgraded Skechers U.S.A. from a “mixed” rating to a “positive” rating in a research report on Tuesday, April 5th. StockNews.com began coverage on shares of Skechers U.S.A. in a report on Thursday, March 31st. They issued a “hold” rating for the company. Berenberg Bank restated a “buy” rating and set a $77.00 target price on shares of Skechers U.S.A. in a research report on Friday, April 22nd. Finally, Deutsche Bank Aktiengesellschaft lowered their price target on Skechers U.S.A. from $62.00 to $61.00 in a report on Monday, April 25th. Four investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. According to data from MarketBeat, Skechers U.S.A. presently has an average rating of “Buy” and a consensus price target of $57.44.

Skechers U.S.A. Company Profile (Get Rating)

Skechers U.SA, Inc designs, develops, markets, and distributes footwear for men, women, and children; and performance footwear for men and women worldwide. The company operates through three segments: Domestic Wholesale, International Wholesale, and Direct-to-Consumer. It offers casual, casual athletic, sport athletic, trail, sandals, boots, and retro fashion footwear for men and women under the Skechers USA, Skechers Sport, Skechers Active, Modern Comfort, Skechers Street, Mark Nason, and BOBS brands; sneakers, casuals, boots, and sandals for boys and girls under the Skechers Mega-Craft, S-Lights, SKECH-AIR, Foamies, Twinkle Toes, Z-Strap, Skechers Stretch Fit, and Skechers Street brands; and technical footwear under the Skechers GOrun, Skechers GOwalk, Skechers GOtrain, Skechers GOtrail, and Skechers GO Golf brands.

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Institutional Ownership by Quarter for Skechers U.S.A. (NYSE:SKX)

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