Russell Investments Group Ltd. lifted its position in Skechers U.S.A., Inc. (NYSE:SKX – Free Report) by 35.2% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 43,478 shares of the textile maker’s stock after purchasing an additional 11,312 shares during the quarter. Russell Investments Group Ltd.’s holdings in Skechers U.S.A. were worth $2,066,000 at the end of the most recent quarter.
A number of other hedge funds have also recently added to or reduced their stakes in SKX. Quent Capital LLC lifted its stake in Skechers U.S.A. by 122.4% in the first quarter. Quent Capital LLC now owns 585 shares of the textile maker’s stock valued at $28,000 after buying an additional 322 shares during the last quarter. Covestor Ltd boosted its stake in Skechers U.S.A. by 88.9% during the 1st quarter. Covestor Ltd now owns 1,360 shares of the textile maker’s stock worth $55,000 after purchasing an additional 640 shares during the period. Quadrant Capital Group LLC grew its position in Skechers U.S.A. by 338.0% during the 4th quarter. Quadrant Capital Group LLC now owns 1,568 shares of the textile maker’s stock worth $66,000 after purchasing an additional 1,210 shares during the last quarter. Compass Wealth Management LLC acquired a new position in Skechers U.S.A. in the fourth quarter valued at $72,000. Finally, US Bancorp DE raised its holdings in shares of Skechers U.S.A. by 71.1% in the first quarter. US Bancorp DE now owns 2,416 shares of the textile maker’s stock valued at $98,000 after buying an additional 1,004 shares during the last quarter. Hedge funds and other institutional investors own 80.21% of the company’s stock.
Skechers U.S.A. Trading Down 0.2 %
Shares of SKX stock opened at $48.39 on Friday. Skechers U.S.A., Inc. has a fifty-two week low of $31.28 and a fifty-two week high of $56.53. The company has a quick ratio of 1.48, a current ratio of 2.48 and a debt-to-equity ratio of 0.06. The business has a fifty day simple moving average of $52.38 and a 200-day simple moving average of $49.83. The stock has a market cap of $7.49 billion, a P/E ratio of 15.97, a P/E/G ratio of 0.51 and a beta of 1.32.
Skechers U.S.A. (NYSE:SKX – Get Free Report) last released its quarterly earnings results on Thursday, July 27th. The textile maker reported $0.98 EPS for the quarter, beating 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 business had revenue of $2.01 billion for the quarter, compared to analyst estimates of $1.92 billion. During the same period in the prior year, the business earned $0.58 earnings per share. The company’s quarterly revenue was up 7.7% on a year-over-year basis. On average, analysts forecast that Skechers U.S.A., Inc. will post 3.38 earnings per share for the current fiscal year.
Wall Street Analysts Forecast Growth
Several equities analysts recently issued reports on the company. Raymond James boosted their price target on Skechers U.S.A. from $58.00 to $59.00 and gave the company an “outperform” rating in a research report on Friday, July 28th. UBS Group upped their price target on 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 lifted 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. StockNews.com started coverage on shares of Skechers U.S.A. in a research report on Thursday, August 17th. They set a “buy” rating for the company. Finally, Piper Sandler increased their price target on shares of Skechers U.S.A. from $52.00 to $54.00 and gave the stock a “neutral” rating in a report on Friday, July 28th. Two research analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $58.83.
Get Our Latest Stock Analysis on SKX
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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