Swiss National Bank reduced its position in Skechers U.S.A., Inc. (NYSE:SKX – Free Report) by 11.0% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 289,700 shares of the textile maker’s stock after selling 35,900 shares during the period. Swiss National Bank owned approximately 0.19% of Skechers U.S.A. worth $13,767,000 as of its most recent SEC filing.
A number of other institutional investors have also modified their holdings of the company. Principal Financial Group Inc. raised its holdings in Skechers U.S.A. by 0.8% in the first quarter. Principal Financial Group Inc. now owns 531,344 shares of the textile maker’s stock valued at $25,249,000 after buying an additional 4,386 shares during the period. Spire Wealth Management increased its position in shares of Skechers U.S.A. by 133.6% in the first quarter. Spire Wealth Management now owns 785 shares of the textile maker’s stock worth $37,000 after acquiring an additional 449 shares in the last quarter. Tower Research Capital LLC TRC increased its position in shares of Skechers U.S.A. by 156.2% in the first quarter. Tower Research Capital LLC TRC now owns 8,784 shares of the textile maker’s stock worth $417,000 after acquiring an additional 5,356 shares in the last quarter. Bank of New York Mellon Corp increased its position in shares of Skechers U.S.A. by 7.0% in the first quarter. Bank of New York Mellon Corp now owns 2,004,379 shares of the textile maker’s stock worth $95,248,000 after acquiring an additional 131,030 shares in the last quarter. Finally, Russell Investments Group Ltd. increased its position in shares of Skechers U.S.A. by 35.2% in the first quarter. Russell Investments Group Ltd. now owns 43,478 shares of the textile maker’s stock worth $2,066,000 after acquiring an additional 11,312 shares in the last quarter. Hedge funds and other institutional investors own 80.21% of the company’s stock.
Skechers U.S.A. Trading Up 0.3 %
NYSE SKX opened at $50.28 on Thursday. Skechers U.S.A., Inc. has a 12 month low of $31.28 and a 12 month high of $56.53. The company has a debt-to-equity ratio of 0.06, a current ratio of 2.48 and a quick ratio of 1.48. The company has a market capitalization of $7.78 billion, a price-to-earnings ratio of 16.59, a price-to-earnings-growth ratio of 0.52 and a beta of 1.32. The company’s fifty day moving average price is $52.53 and its two-hundred day moving average price is $49.78.
Skechers U.S.A. (NYSE:SKX – Get Free Report) last posted its quarterly earnings data on Thursday, July 27th. The textile maker reported $0.98 EPS for the quarter, beating analysts’ consensus estimates 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 the consensus estimate of $1.92 billion. During the same period in the prior year, the firm posted $0.58 EPS. The firm’s revenue was up 7.7% compared to the same quarter last year. As a group, research analysts predict that Skechers U.S.A., Inc. will post 3.38 earnings per share for the current fiscal year.
Analyst Ratings Changes
SKX has been the subject of several recent research reports. Wedbush reissued an “outperform” rating and issued a $59.00 price objective on shares of Skechers U.S.A. in a research report on Thursday, August 10th. Deutsche Bank Aktiengesellschaft increased their price objective on shares of Skechers U.S.A. from $57.00 to $62.00 and gave the stock a “buy” rating in a research report on Friday, July 28th. UBS Group raised their price target on shares of Skechers U.S.A. from $63.00 to $68.00 and gave the company a “buy” rating in a report on Friday, July 28th. Piper Sandler raised their price target on shares of Skechers U.S.A. from $52.00 to $54.00 and gave the company a “neutral” rating in a report on Friday, July 28th. Finally, Stifel Nicolaus raised their price target on shares of Skechers U.S.A. from $59.00 to $62.00 and gave the company a “buy” rating in a report on Friday, July 28th. Two analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. According to MarketBeat, Skechers U.S.A. currently has an average rating of “Moderate Buy” and an average price target of $58.83.
Get Our Latest Analysis on Skechers U.S.A.
About Skechers U.S.A.
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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