Arizona State Retirement System grew its position in Skechers U.S.A., Inc. (NYSE:SKX – Get Rating) by 3.8% in the fourth quarter, according to its most recent filing with the SEC. The fund owned 38,050 shares of the textile maker’s stock after acquiring an additional 1,396 shares during the period. Arizona State Retirement System’s holdings in Skechers U.S.A. were worth $1,596,000 as of its most recent filing with the SEC.
A number of other large investors also recently modified their holdings of SKX. State Street Corp raised its position in Skechers U.S.A. by 3.4% during the 3rd quarter. State Street Corp now owns 4,778,584 shares of the textile maker’s stock worth $151,577,000 after purchasing an additional 157,862 shares during the last quarter. Dimensional Fund Advisors LP raised its position in Skechers U.S.A. by 19.4% during the 3rd quarter. Dimensional Fund Advisors LP now owns 2,949,350 shares of the textile maker’s stock worth $93,568,000 after purchasing an additional 478,224 shares during the last quarter. Price T Rowe Associates Inc. MD raised its position in Skechers U.S.A. by 6.3% during the 2nd quarter. Price T Rowe Associates Inc. MD now owns 2,784,301 shares of the textile maker’s stock worth $99,065,000 after purchasing an additional 165,147 shares during the last quarter. Fiduciary Management Inc. WI raised its position in Skechers U.S.A. by 0.9% during the 3rd quarter. Fiduciary Management Inc. WI now owns 2,477,515 shares of the textile maker’s stock worth $78,587,000 after purchasing an additional 22,996 shares during the last quarter. Finally, Capital Research Global Investors raised its position in Skechers U.S.A. by 4.8% during the 1st quarter. Capital Research Global Investors now owns 2,200,000 shares of the textile maker’s stock worth $89,672,000 after purchasing an additional 100,000 shares during the last quarter. 93.29% of the stock is currently owned by institutional investors.
Wall Street Analyst Weigh In
Several research analysts recently issued reports on the company. StockNews.com raised Skechers U.S.A. from a “hold” rating to a “buy” rating in a research report on Monday, May 1st. Wedbush lifted their price objective on Skechers U.S.A. from $54.00 to $58.00 in a research report on Friday, April 28th. Stifel Nicolaus lifted their price objective on Skechers U.S.A. from $54.00 to $59.00 in a research report on Friday, April 28th. Morgan Stanley lifted their price objective on Skechers U.S.A. from $46.00 to $48.00 in a research report on Friday, April 28th. Finally, Cowen raised Skechers U.S.A. from a “market perform” rating to an “outperform” rating and lifted their price objective for the stock from $48.00 to $65.00 in a research report on Monday, January 23rd. Two investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $57.50.
Skechers U.S.A. Stock Performance
Insider Activity
In other news, General Counsel Phillip Paccione sold 11,874 shares of the firm’s stock in a transaction dated Thursday, March 2nd. The stock was sold at an average price of $45.16, for a total value of $536,229.84. Following the completion of the sale, the general counsel now directly owns 20,000 shares in the company, valued at approximately $903,200. The sale was disclosed in a document filed with the SEC, which is accessible through this link. In other Skechers U.S.A. news, CFO John M. Vandemore sold 13,255 shares of Skechers U.S.A. stock in a transaction dated Thursday, March 2nd. The stock was sold at an average price of $45.16, for a total transaction of $598,595.80. Following the completion of the transaction, the chief financial officer now owns 95,956 shares in the company, valued at approximately $4,333,372.96. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, General Counsel Phillip Paccione sold 11,874 shares of Skechers U.S.A. stock in a transaction dated Thursday, March 2nd. The shares were sold at an average price of $45.16, for a total value of $536,229.84. Following the transaction, the general counsel now owns 20,000 shares of the company’s stock, valued at approximately $903,200. The disclosure for this sale can be found here. Insiders sold a total of 101,805 shares of company stock worth $4,806,675 in the last three months. Company insiders own 24.44% of the company’s stock.
Skechers U.S.A. Company Profile
Skechers U.SA, Inc engages in designing, development, and marketing of lifestyle footwear for men, women, and children of all ages. It operates through the Wholesale and Direct-to-Consumer segment. The Wholesale segment includes department stores, family shoe stores, specialty running, and sporting goods retailers.
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