Commerzbank Aktiengesellschaft FI grew its holdings in shares of Skechers USA Inc (NYSE:SKX) by 23.1% in the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 49,663 shares of the textile maker’s stock after purchasing an additional 9,312 shares during the period. Commerzbank Aktiengesellschaft FI’s holdings in Skechers USA were worth $1,246,000 as of its most recent SEC filing.
Several other hedge funds have also added to or reduced their stakes in the company. Vanguard Group Inc. lifted its holdings in shares of Skechers USA by 5.0% during the second quarter. Vanguard Group Inc. now owns 10,543,894 shares of the textile maker’s stock valued at $311,045,000 after purchasing an additional 500,360 shares during the last quarter. Amerigo Asset Management increased its position in shares of Skechers USA by 38.2% during the second quarter. Amerigo Asset Management now owns 6,134,253 shares of the textile maker’s stock valued at $180,960,000 after acquiring an additional 1,694,253 shares in the last quarter. State Street Corp increased its position in shares of Skechers USA by 47.2% during the second quarter. State Street Corp now owns 5,031,124 shares of the textile maker’s stock valued at $148,423,000 after acquiring an additional 1,613,977 shares in the last quarter. Prudential Financial Inc. increased its position in shares of Skechers USA by 125.7% during the second quarter. Prudential Financial Inc. now owns 2,302,352 shares of the textile maker’s stock valued at $67,919,000 after acquiring an additional 1,282,260 shares in the last quarter. Finally, Mik Capital LLC bought a new stake in shares of Skechers USA during the second quarter valued at approximately $56,285,000. Hedge funds and other institutional investors own 70.13% of the company’s stock.
Several brokerages recently weighed in on SKX. Susquehanna Bancshares reissued a “buy” rating and set a $46.00 price target on shares of Skechers USA in a research report on Monday. Monness Crespi & Hardt raised their price target on shares of Skechers USA from $34.00 to $40.00 and gave the company a “buy” rating in a research report on Friday, December 1st. Vetr raised shares of Skechers USA from a “hold” rating to a “buy” rating and set a $37.55 price target for the company in a research report on Tuesday, November 28th. Cowen reissued a “buy” rating and set a $38.00 price target on shares of Skechers USA in a research report on Friday, November 3rd. Finally, Zacks Investment Research raised shares of Skechers USA from a “sell” rating to a “hold” rating and set a $38.00 price target for the company in a research report on Monday, October 23rd. Two investment analysts have rated the stock with a sell rating, four have assigned a hold rating and ten have issued a buy rating to the stock. The stock has a consensus rating of “Buy” and a consensus price target of $36.46.
Skechers USA Inc (NYSE:SKX) traded up $0.50 during trading hours on Thursday, reaching $34.89. 1,473,800 shares of the company’s stock were exchanged, compared to its average volume of 2,804,911. The company has a debt-to-equity ratio of 0.04, a quick ratio of 2.30 and a current ratio of 3.46. Skechers USA Inc has a fifty-two week low of $22.31 and a fifty-two week high of $36.43. The company has a market cap of $5,449.78, a P/E ratio of 21.36, a PEG ratio of 1.44 and a beta of 0.15.
Skechers USA (NYSE:SKX) last posted its earnings results on Thursday, October 19th. The textile maker reported $0.59 EPS for the quarter, topping analysts’ consensus estimates of $0.43 by $0.16. Skechers USA had a net margin of 6.38% and a return on equity of 13.70%. The business had revenue of $1.09 billion during the quarter, compared to the consensus estimate of $1.07 billion. During the same quarter in the previous year, the firm posted $0.42 EPS. The firm’s revenue was up 16.2% on a year-over-year basis. equities analysts predict that Skechers USA Inc will post 1.71 earnings per share for the current year.
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Skechers USA 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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