Capstone Asset Management Co. reduced its stake in Skechers U.S.A., Inc. (NYSE:SKX) by 1.6% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 18,156 shares of the textile maker’s stock after selling 290 shares during the period. Capstone Asset Management Co.’s holdings in Skechers U.S.A. were worth $536,000 at the end of the most recent reporting period.
Several other institutional investors have also bought and sold shares of the company. FMR LLC increased its position in Skechers U.S.A. by 0.3% in the first quarter. FMR LLC now owns 20,061,114 shares of the textile maker’s stock valued at $550,678,000 after buying an additional 62,666 shares during the last quarter. BlackRock Inc. increased its position in Skechers U.S.A. by 3,136.5% in the first quarter. BlackRock Inc. now owns 11,190,173 shares of the textile maker’s stock valued at $307,170,000 after buying an additional 10,844,421 shares during the last quarter. Vanguard Group Inc. increased its position in Skechers U.S.A. by 1.0% in the first quarter. Vanguard Group Inc. now owns 10,043,534 shares of the textile maker’s stock valued at $275,695,000 after buying an additional 99,851 shares during the last quarter. Amerigo Asset Management increased its position in Skechers U.S.A. by 28.5% in the first quarter. Amerigo Asset Management now owns 4,440,000 shares of the textile maker’s stock valued at $121,878,000 after buying an additional 984,929 shares during the last quarter. Finally, State Street Corp raised its position in Skechers U.S.A. by 2.8% in the first quarter. State Street Corp now owns 3,417,147 shares of the textile maker’s stock worth $93,798,000 after buying an additional 93,722 shares during the period. Hedge funds and other institutional investors own 65.11% of the company’s stock.
Shares of Skechers U.S.A., Inc. (NYSE:SKX) traded up 2.52% during midday trading on Friday, reaching $29.33. 2,117,808 shares of the company’s stock traded hands. The firm has a market capitalization of $4.65 billion, a PE ratio of 20.34 and a beta of 0.18. Skechers U.S.A., Inc. has a one year low of $18.81 and a one year high of $30.00. The stock’s 50-day moving average price is $28.61 and its 200 day moving average price is $26.50.
Skechers U.S.A. (NYSE:SKX) last issued its quarterly earnings results on Thursday, July 20th. The textile maker reported $0.38 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.44 by $0.06. The company had revenue of $1.03 billion during the quarter, compared to the consensus estimate of $966.46 million. Skechers U.S.A. had a return on equity of 12.79% and a net margin of 5.92%. The firm’s quarterly revenue was up 16.9% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.48 earnings per share. On average, equities research analysts expect that Skechers U.S.A., Inc. will post $1.57 earnings per share for the current fiscal year.
A number of equities analysts have recently commented on the stock. Vetr upgraded shares of Skechers U.S.A. from a “hold” rating to a “buy” rating and set a $26.28 price objective for the company in a research report on Thursday, April 27th. UBS AG upgraded shares of Skechers U.S.A. from a “neutral” rating to a “positive” rating in a research report on Monday, June 5th. Susquehanna Bancshares Inc restated a “neutral” rating and issued a $25.00 price objective on shares of Skechers U.S.A. in a research report on Monday, April 24th. BidaskClub lowered shares of Skechers U.S.A. from a “buy” rating to a “hold” rating in a research report on Thursday, July 13th. Finally, Cowen and Company restated a “buy” rating and issued a $35.00 price objective on shares of Skechers U.S.A. in a research report on Friday, April 21st. Two analysts have rated the stock with a sell rating, four have issued a hold rating and ten have assigned a buy rating to the stock. The company has an average rating of “Buy” and a consensus target price of $31.10.
In related news, Director Richard Rappaport sold 1,500 shares of the firm’s stock in a transaction on Friday, June 23rd. The stock was 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 directly owns 20,000 shares in the company, valued at $567,600. The sale was disclosed in a filing with the SEC, which can be accessed through this link. 21.73% of the stock is owned by company insiders.
About Skechers U.S.A.
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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