M&T Bank Corp lowered its position in Skechers U.S.A., Inc. (NYSE:SKX – Free Report) by 10.9% in the 1st quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 49,820 shares of the textile maker’s stock after selling 6,072 shares during the period. M&T Bank Corp’s holdings in Skechers U.S.A. were worth $2,367,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds also recently made changes to their positions in SKX. State Street Corp lifted its position in Skechers U.S.A. by 3.4% during the third quarter. State Street Corp now owns 4,778,584 shares of the textile maker’s stock valued at $151,577,000 after buying an additional 157,862 shares during the period. Dimensional Fund Advisors LP grew its holdings in Skechers U.S.A. by 22.8% in the fourth quarter. Dimensional Fund Advisors LP now owns 3,622,033 shares of the textile maker’s stock worth $151,942,000 after purchasing an additional 672,683 shares during the period. Fiduciary Management Inc. WI increased its stake in shares of Skechers U.S.A. by 18.9% during the fourth quarter. Fiduciary Management Inc. WI now owns 2,945,756 shares of the textile maker’s stock valued at $123,574,000 after purchasing an additional 468,241 shares in the last quarter. Price T Rowe Associates Inc. MD lifted its holdings in shares of Skechers U.S.A. by 6.3% during the second quarter. Price T Rowe Associates Inc. MD now owns 2,784,301 shares of the textile maker’s stock valued at $99,065,000 after purchasing an additional 165,147 shares during the last quarter. Finally, Capital Research Global Investors boosted its position in shares of Skechers U.S.A. by 4.8% in 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 in the last quarter. Hedge funds and other institutional investors own 80.54% of the company’s stock.
Skechers U.S.A. Stock Performance
SKX stock opened at $49.77 on Wednesday. The company has a debt-to-equity ratio of 0.06, a current ratio of 2.48 and a quick ratio of 1.48. Skechers U.S.A., Inc. has a 1 year low of $31.28 and a 1 year high of $56.53. The company has a market cap of $7.70 billion, a P/E ratio of 16.43, a price-to-earnings-growth ratio of 0.51 and a beta of 1.32. The stock’s fifty day moving average price is $52.30 and its 200-day moving average price is $49.94.
Skechers U.S.A. (NYSE:SKX – Get Free Report) last issued its quarterly earnings data on Thursday, July 27th. The textile maker reported $0.98 earnings per share for the quarter, topping the consensus estimate of $0.52 by $0.46. Skechers U.S.A. had a net margin of 6.11% and a return on equity of 11.97%. The firm had revenue of $2.01 billion for the quarter, compared to analysts’ expectations of $1.92 billion. During the same quarter in the prior year, the business earned $0.58 EPS. The business’s quarterly revenue was up 7.7% on a year-over-year basis. On average, equities analysts forecast that Skechers U.S.A., Inc. will post 3.38 earnings per share for the current year.
Analyst Ratings Changes
A number of research analysts have issued reports on the company. TD Cowen lifted their price objective on Skechers U.S.A. from $65.00 to $67.00 and gave the company an “outperform” rating in a research note on Friday, July 28th. UBS Group upped their price target on shares of Skechers U.S.A. from $63.00 to $68.00 and gave the stock a “buy” rating in a research note on Friday, July 28th. Deutsche Bank Aktiengesellschaft increased their price objective on shares of Skechers U.S.A. from $57.00 to $62.00 and gave the company a “buy” rating in a research report on Friday, July 28th. Piper Sandler upped their target price on shares of Skechers U.S.A. from $52.00 to $54.00 and gave the stock a “neutral” rating in a research note on Friday, July 28th. Finally, Wedbush reissued an “outperform” rating and set a $59.00 price target on shares of Skechers U.S.A. in a research report on Thursday, August 10th. Two analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $58.92.
Check Out Our Latest Report on SKX
Skechers U.S.A. Company Profile
Skechers U.SA, Inc designs, develops, markets, and distributes footwear for men, women, and children worldwide. The company operates through two segments, 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, Foamies, Mark Nason, and BOBS brands; sneakers, casuals, boots, and sandals for boys and girls under the S-Lights, Skech-Air, Foamies, Twinkle Toes, 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, as well as Skechers Viper Court for pickleball.
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