Capstone Asset Management Co. lowered its stake in shares of 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 (SEC). 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.
A number of other institutional investors have also recently made changes to their positions in SKX. FMR LLC raised its position in shares of 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 period. BlackRock Inc. raised its position in shares of 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 period. Vanguard Group Inc. raised its position in shares of 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 period. Amerigo Asset Management raised its position in shares of 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 period. Finally, State Street Corp raised its position in shares of 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 valued at $93,798,000 after buying an additional 93,722 shares during the period. 67.86% of the stock is owned by institutional investors and hedge funds.
Shares of Skechers U.S.A., Inc. (NYSE:SKX) traded down 1.64% during midday trading on Friday, hitting $26.95. The company had a trading volume of 2,883,019 shares. The firm has a market capitalization of $4.27 billion, a P/E ratio of 18.69 and a beta of 0.18. Skechers U.S.A., Inc. has a 1-year low of $18.81 and a 1-year high of $30.00. The stock has a 50 day moving average price of $28.45 and a 200 day moving average price of $26.59.
Skechers U.S.A. (NYSE:SKX) last announced its quarterly earnings results on Thursday, July 20th. The textile maker reported $0.38 EPS for the quarter, missing the consensus estimate of $0.44 by $0.06. The company had revenue of $1.03 billion during the quarter, compared to analysts’ expectations 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 revenue for the quarter was up 16.9% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.48 EPS. On average, equities analysts anticipate that Skechers U.S.A., Inc. will post $1.57 EPS for the current fiscal year.
Several equities analysts have weighed in on SKX shares. B. Riley reissued a “buy” rating and set a $32.00 price objective on shares of Skechers U.S.A. in a report on Wednesday, April 26th. BidaskClub upgraded Skechers U.S.A. from a “hold” rating to a “buy” rating in a research report on Friday, June 30th. Susquehanna Bancshares Inc restated a “positive” rating and set a $34.00 target price (up previously from $32.00) on shares of Skechers U.S.A. in a research report on Sunday, July 23rd. Vetr downgraded Skechers U.S.A. from a “strong-buy” rating to a “buy” rating and set a $32.17 target price on the stock. in a research report on Tuesday, July 25th. Finally, Cowen and Company set a $35.00 target price on Skechers U.S.A. and gave the stock a “buy” rating in a research report on Saturday, July 22nd. One analyst has rated the stock with a sell rating, five have issued a hold rating and ten have assigned a buy rating to the stock. The company presently has an average rating of “Buy” and an average target price of $31.10.
In other news, Director Richard Rappaport sold 1,500 shares of the company’s stock in a transaction dated Friday, June 23rd. The shares were sold at an average price of $28.38, for a total transaction of $42,570.00. Following the sale, the director now directly owns 20,000 shares in the company, valued at approximately $567,600. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 21.73% of the stock is currently owned by corporate insiders.
Skechers U.S.A. Company Profile
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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