Skechers U.S.A., Inc. (NYSE:SKX) Shares Bought by State Street Corp
State Street Corp raised its position in shares of Skechers U.S.A., Inc. (NYSE:SKX) by 2.8% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 3,417,147 shares of the textile maker’s stock after buying an additional 93,722 shares during the period. State Street Corp owned approximately 2.16% of Skechers U.S.A. worth $93,798,000 as of its most recent filing with the SEC.
A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. US Bancorp DE raised its position in shares of Skechers U.S.A. by 94.9% in the first quarter. US Bancorp DE now owns 3,895 shares of the textile maker’s stock valued at $107,000 after buying an additional 1,897 shares in the last quarter. Neuburgh Advisers LLC raised its position in Skechers U.S.A. by 3.8% in the first quarter. Neuburgh Advisers LLC now owns 4,796 shares of the textile maker’s stock worth $132,000 after buying an additional 176 shares during the period. NINE MASTS CAPITAL Ltd bought a new position in Skechers U.S.A. during the first quarter worth $137,000. Tyers Asset Management LLC raised its position in Skechers U.S.A. by 3.8% in the first quarter. Tyers Asset Management LLC now owns 6,104 shares of the textile maker’s stock worth $167,000 after buying an additional 224 shares during the period. Finally, IFP Advisors Inc raised its position in Skechers U.S.A. by 2.0% in the first quarter. IFP Advisors Inc now owns 7,409 shares of the textile maker’s stock worth $203,000 after buying an additional 147 shares during the period. 65.11% of the stock is owned by institutional investors and hedge funds.
Shares of Skechers U.S.A., Inc. (NYSE:SKX) traded up 3.20% during trading on Tuesday, reaching $28.69. 2,050,875 shares of the company were exchanged. Skechers U.S.A., Inc. has a 1-year low of $18.81 and a 1-year high of $30.00. The firm has a 50-day moving average price of $28.40 and a 200-day moving average price of $26.37. The stock has a market capitalization of $4.46 billion, a P/E ratio of 19.90 and a beta of 0.18.
Skechers U.S.A. (NYSE:SKX) last released its quarterly earnings data on Thursday, July 20th. The textile maker reported $0.38 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.44 by $0.06. Skechers U.S.A. had a return on equity of 12.79% and a net margin of 5.92%. The business had revenue of $1.03 billion during the quarter, compared to analyst estimates of $966.46 million. During the same period in the previous year, the company earned $0.48 EPS. Skechers U.S.A.’s revenue was up 16.9% on a year-over-year basis. Equities research analysts predict that Skechers U.S.A., Inc. will post $1.57 earnings per share for the current fiscal year.
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SKX has been the topic of several recent analyst reports. Vetr upgraded Skechers U.S.A. from a “hold” rating to a “buy” rating and set a $26.28 price target on the stock in a research note on Wednesday, May 3rd. Zacks Investment Research cut Skechers U.S.A. from a “hold” rating to a “sell” rating in a report on Wednesday, April 12th. Citigroup Inc. raised Skechers U.S.A. from a “neutral” rating to a “buy” rating and raised their target price for the stock from $25.52 to $30.00 in a report on Thursday, June 1st. Susquehanna Bancshares Inc reissued a “neutral” rating and set a $25.00 price target on shares of Skechers U.S.A. in a report on Monday, April 24th. Finally, Cowen and Company reissued a “buy” rating and set a $35.00 price target on shares of Skechers U.S.A. in a report on Friday, April 21st. Two investment analysts have rated the stock with a sell rating, four have issued a hold rating and ten have issued a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and an average target price of $31.10.
In other news, Director Richard Rappaport sold 1,500 shares of the stock in a transaction on Friday, June 23rd. The shares were sold at an average price of $28.38, for a total value of $42,570.00. Following the completion of the sale, the director now owns 20,000 shares of the company’s stock, valued at $567,600. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 38.20% of the stock is owned by corporate insiders.
Skechers U.S.A. Company Profile
Skechers U.SA, Inc is a designer and marketer of Skechers-branded lifestyle footwear for men, women and children, and performance footwear for men and women under the Skechers GO brand name. The Company operates through three segments: domestic wholesale sales, international wholesale sales, and retail sales, which includes e-commerce sales.
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