Principal Financial Group Inc. lifted its stake in shares of Skechers U.S.A., Inc. (NYSE:SKX) by 3.8% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 568,669 shares of the textile maker’s stock after buying an additional 20,829 shares during the period. Principal Financial Group Inc. owned approximately 0.37% of Skechers U.S.A. worth $16,776,000 at the end of the most recent quarter.
Other large investors also recently bought and sold shares of the company. Tower Research Capital LLC TRC lifted its stake in shares of Skechers U.S.A. by 430.9% during the first quarter. Tower Research Capital LLC TRC now owns 3,844 shares of the textile maker’s stock worth $106,000 after buying an additional 3,120 shares during the period. US Bancorp DE lifted its stake in shares of Skechers U.S.A. by 94.9% during the first quarter. US Bancorp DE now owns 3,895 shares of the textile maker’s stock worth $107,000 after buying an additional 1,897 shares during the period. Exane Derivatives acquired a new stake in shares of Skechers U.S.A. during the second quarter worth $118,000. Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in shares of Skechers U.S.A. by 12.3% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 4,594 shares of the textile maker’s stock worth $136,000 after buying an additional 503 shares during the period. Finally, Neuburgh Advisers LLC lifted its stake in shares of Skechers U.S.A. by 3.8% during the first quarter. Neuburgh Advisers LLC now owns 4,796 shares of the textile maker’s stock worth $132,000 after buying an additional 176 shares during the period. Institutional investors and hedge funds own 70.57% of the company’s stock.
Several equities research analysts have recently commented on the stock. UBS AG upgraded shares of Skechers U.S.A. from a “neutral” rating to a “positive” rating in a research note on Monday, June 5th. B. Riley reiterated a “buy” rating and set a $37.00 price objective on shares of Skechers U.S.A. in a research note on Friday, July 21st. Cowen and Company set a $35.00 price objective on shares of Skechers U.S.A. and gave the stock a “buy” rating in a research note on Monday, August 14th. BidaskClub upgraded shares of Skechers U.S.A. from a “sell” rating to a “hold” rating in a research note on Friday, June 9th. Finally, Morgan Stanley lifted their price objective on shares of Skechers U.S.A. from $25.00 to $26.00 and gave the stock an “equal weight” rating in a research note on Tuesday, June 6th. Two investment analysts have rated the stock with a sell rating, four have issued a hold rating and ten have given a buy rating to the company’s stock. The company has a consensus rating of “Buy” and an average target price of $31.10.
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In other news, Director Richard Rappaport sold 1,500 shares of the firm’s stock in a transaction on Friday, June 23rd. The shares were 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 owns 20,000 shares in the company, valued at approximately $567,600. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, General Counsel Phillip Paccione sold 1,004 shares of the firm’s stock in a transaction on Thursday, August 24th. The stock was sold at an average price of $27.24, for a total transaction of $27,348.96. The disclosure for this sale can be found here. 21.73% of the stock is currently owned by company insiders.
Skechers U.S.A., Inc. (NYSE SKX) opened at 26.39 on Friday. Skechers U.S.A., Inc. has a 12-month low of $18.81 and a 12-month high of $30.00. The stock has a market cap of $4.18 billion, a PE ratio of 18.30 and a beta of 0.18. The firm has a 50-day moving average of $27.22 and a 200-day moving average of $26.75.
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 for the quarter, missing the Zacks’ consensus estimate of $0.44 by ($0.06). The business had revenue of $1.03 billion for the quarter, compared to analyst estimates 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% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.48 EPS. Equities analysts predict that Skechers U.S.A., Inc. will post $1.57 earnings per share for the current fiscal year.
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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