Fiduciary Management Inc. WI increased its holdings in shares of Skechers U.S.A., Inc. (NYSE:SKX – Get Rating) by 0.9% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 2,477,515 shares of the textile maker’s stock after acquiring an additional 22,996 shares during the quarter. Fiduciary Management Inc. WI owned approximately 1.60% of Skechers U.S.A. worth $78,587,000 at the end of the most recent quarter.
→ A.I. Reveals Which Markets Influence Others? (From Vantage Point)
Several other institutional investors and hedge funds have also recently bought and sold shares of SKX. American Century Companies Inc. grew its position in Skechers U.S.A. by 10.8% in the 1st quarter. American Century Companies Inc. now owns 16,901 shares of the textile maker’s stock worth $689,000 after purchasing an additional 1,654 shares during the last quarter. US Bancorp DE grew its position in Skechers U.S.A. by 71.1% in the 1st quarter. US Bancorp DE now owns 2,416 shares of the textile maker’s stock worth $98,000 after purchasing an additional 1,004 shares during the last quarter. PNC Financial Services Group Inc. grew its position in Skechers U.S.A. by 11.5% in the 1st quarter. PNC Financial Services Group Inc. now owns 6,413 shares of the textile maker’s stock worth $260,000 after purchasing an additional 663 shares during the last quarter. Bank of Montreal Can grew its position in Skechers U.S.A. by 8.6% in the 1st quarter. Bank of Montreal Can now owns 12,534 shares of the textile maker’s stock worth $519,000 after purchasing an additional 990 shares during the last quarter. Finally, MetLife Investment Management LLC grew its position in Skechers U.S.A. by 34.4% in the 1st quarter. MetLife Investment Management LLC now owns 87,839 shares of the textile maker’s stock worth $3,580,000 after purchasing an additional 22,464 shares during the last quarter. Institutional investors and hedge funds own 93.29% of the company’s stock.
Skechers U.S.A. Stock Up 1.3 %
SKX stock traded up $0.59 during midday trading on Wednesday, reaching $45.10. The company had a trading volume of 589,605 shares, compared to its average volume of 1,859,071. The company has a 50 day moving average of $44.97 and a two-hundred day moving average of $40.21. Skechers U.S.A., Inc. has a 1 year low of $31.28 and a 1 year high of $49.56. The company has a market capitalization of $7.00 billion, a P/E ratio of 18.70 and a beta of 1.30. The company has a current ratio of 2.26, a quick ratio of 1.13 and a debt-to-equity ratio of 0.06.
Skechers U.S.A. (NYSE:SKX – Get Rating) last announced its quarterly earnings results on Thursday, February 2nd. The textile maker reported $0.48 EPS for the quarter, topping the consensus estimate of $0.38 by $0.10. Skechers U.S.A. had a net margin of 5.01% and a return on equity of 9.94%. The company had revenue of $1.88 billion for the quarter, compared to analyst estimates of $1.77 billion. During the same quarter in the prior year, the business posted $0.43 EPS. Skechers U.S.A.’s quarterly revenue was up 13.5% on a year-over-year basis. On average, equities research analysts expect that Skechers U.S.A., Inc. will post 2.95 earnings per share for the current fiscal year.
Wall Street Analysts Forecast Growth
Several research analysts have recently issued reports on SKX shares. Argus upgraded shares of Skechers U.S.A. from a “hold” rating to a “buy” rating and set a $50.00 price objective for the company in a report on Friday, January 6th. Monness Crespi & Hardt increased their price objective on shares of Skechers U.S.A. to $50.00 in a report on Friday, December 2nd. Cowen decreased their price objective on shares of Skechers U.S.A. from $65.00 to $62.00 and set an “outperform” rating for the company in a report on Friday, February 3rd. Deutsche Bank Aktiengesellschaft increased their price objective on shares of Skechers U.S.A. from $43.00 to $54.00 and gave the company a “buy” rating in a report on Monday, January 23rd. Finally, UBS Group increased their price objective on shares of Skechers U.S.A. from $63.00 to $69.00 in a report on Friday, February 3rd. Three analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $53.83.
Insider Activity at Skechers U.S.A.
In related news, President Michael Greenberg sold 10,503 shares of the firm’s stock in a transaction on Tuesday, January 3rd. The shares were sold at an average price of $42.29, for a total value of $444,171.87. Following the transaction, the president now directly owns 427,080 shares in the company, valued at approximately $18,061,213.20. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other Skechers U.S.A. news, President Michael Greenberg sold 10,503 shares of the firm’s stock in a transaction on Tuesday, January 3rd. The shares were sold at an average price of $42.29, for a total value of $444,171.87. Following the sale, the president now directly owns 427,080 shares in the company, valued at approximately $18,061,213.20. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, COO David Weinberg sold 8,403 shares of the firm’s stock in a transaction on Tuesday, January 3rd. The stock was sold at an average price of $42.29, for a total transaction of $355,362.87. Following the completion of the sale, the chief operating officer now owns 124,419 shares in the company, valued at $5,261,679.51. The disclosure for this sale can be found here. In the last three months, insiders have sold 19,467 shares of company stock worth $823,618. 24.44% of the stock is owned by insiders.
Skechers U.S.A. 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 following segments: Domestic Wholesale, International Wholesale, and Direct-to-Consumer. The Domestic Wholesale segment distributes footwear through the local wholesale distribution channels including department stores, specialty stores, athletic specialty shoe stores and independent retailers, as well as catalog and internet retailers.
Featured Articles
Want to see what other hedge funds are holding SKX? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Skechers U.S.A., Inc. (NYSE:SKX – Get Rating).
This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat’s editorial team prior to publication. Please send any questions or comments about this story to [email protected].
Before you consider Skechers U.S.A., you’ll want to hear this.
MarketBeat keeps track of Wall Street’s top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on… and Skechers U.S.A. wasn’t on the list.
While Skechers U.S.A. currently has a “Moderate Buy” rating among analysts, top-rated analysts believe these five stocks are better buys.
