Swiss National Bank Acquires 3,700 Shares of Skechers USA Inc (SKX)

Swiss National Bank raised its holdings in Skechers USA Inc (NYSE:SKX) by 1.6% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 236,900 shares of the textile maker’s stock after buying an additional 3,700 shares during the period. Swiss National Bank’s holdings in Skechers USA were worth $6,617,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. US Bancorp DE increased its stake in Skechers USA by 169.5% in the 2nd quarter. US Bancorp DE now owns 4,069 shares of the textile maker’s stock valued at $122,000 after buying an additional 2,559 shares during the last quarter. First Mercantile Trust Co. acquired a new stake in Skechers USA in the 3rd quarter valued at $139,000. NuWave Investment Management LLC increased its stake in Skechers USA by 92.2% in the 3rd quarter. NuWave Investment Management LLC now owns 5,011 shares of the textile maker’s stock valued at $140,000 after buying an additional 2,404 shares during the last quarter. NumerixS Investment Technologies Inc acquired a new stake in Skechers USA in the 2nd quarter valued at $141,000. Finally, Strs Ohio acquired a new stake in Skechers USA in the 2nd quarter valued at $184,000. Hedge funds and other institutional investors own 75.08% of the company’s stock.

SKX has been the topic of several recent research reports. Cowen lowered shares of Skechers USA from an “outperform” rating to a “market perform” rating and lowered their price target for the company from $32.00 to $28.00 in a research note on Thursday, September 20th. Buckingham Research lifted their price target on shares of Skechers USA from $31.00 to $35.00 and gave the company a “buy” rating in a research note on Thursday, August 16th. Citigroup lowered their price target on shares of Skechers USA from $30.00 to $29.00 and set a “neutral” rating on the stock in a research note on Monday, October 22nd. Wells Fargo & Co set a $30.00 price target on shares of Skechers USA and gave the company a “hold” rating in a research note on Friday, October 19th. Finally, OTR Global lowered shares of Skechers USA to a “positive” rating in a research note on Tuesday, October 9th. Two investment analysts have rated the stock with a sell rating, nine have given a hold rating and five have assigned a buy rating to the company. The stock has a consensus rating of “Hold” and an average price target of $33.37.

Skechers USA stock opened at $27.00 on Friday. The stock has a market cap of $4.27 billion, a PE ratio of 15.17, a PEG ratio of 2.08 and a beta of 0.39. Skechers USA Inc has a fifty-two week low of $23.80 and a fifty-two week high of $43.08. The company has a current ratio of 3.43, a quick ratio of 2.29 and a debt-to-equity ratio of 0.03.

Skechers USA (NYSE:SKX) last released its quarterly earnings data on Thursday, October 18th. The textile maker reported $0.58 earnings per share for the quarter, topping the consensus estimate of $0.51 by $0.07. The company had revenue of $1.18 billion for the quarter, compared to analyst estimates of $1.22 billion. Skechers USA had a net margin of 4.13% and a return on equity of 13.81%. Skechers USA’s revenue for the quarter was up 7.5% compared to the same quarter last year. During the same period in the previous year, the business earned $0.59 EPS. Research analysts expect that Skechers USA Inc will post 1.85 EPS for the current fiscal year.

In other news, President Michael Greenberg sold 75,630 shares of the business’s stock in a transaction dated Friday, November 2nd. The shares were sold at an average price of $29.28, for a total transaction of $2,214,446.40. Following the transaction, the president now directly owns 593,309 shares in the company, valued at approximately $17,372,087.52. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 27.88% of the stock is owned by insiders.

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Skechers USA Profile

Skechers U.SA, Inc designs, develops, markets, and distributes footwear for men, women, and children; and performance footwear for men and women under the Skechers GO brand worldwide. It operates through three segments: Domestic Wholesale Sales, International Wholesale Sales, and Retail Sales. The company offers casual boots, shoes, and sandals for men; shoes, oxfords and slip-ons, lug outsole and fashion boots, and casual sandals for women; dress casuals, seasonal sandals and boots, classic and wide fit, and relaxed fit casuals for men and women; and casual athletic line for men and women under the Skechers USA brand.

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Institutional Ownership by Quarter for Skechers USA (NYSE:SKX)

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