Boston Partners increased its stake in Skechers U.S.A., Inc. (NYSE:SKX) by 2.6% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,604,706 shares of the textile maker’s stock after buying an additional 41,403 shares during the period. Boston Partners owned 1.01% of Skechers U.S.A. worth $40,262,000 as of its most recent SEC filing.
A number of other institutional investors have also modified their holdings of the business. American Century Companies Inc. grew its holdings in Skechers U.S.A. by 444.4% during the 3rd quarter. American Century Companies Inc. now owns 57,669 shares of the textile maker’s stock worth $1,447,000 after acquiring an additional 47,075 shares in the last quarter. Stevens Capital Management LP bought a new position in Skechers U.S.A. during the 3rd quarter worth about $6,671,000. Victory Capital Management Inc. bought a new position in Skechers U.S.A. during the 3rd quarter worth about $2,762,000. Crossmark Global Holdings Inc. bought a new position in Skechers U.S.A. during the 3rd quarter worth about $483,000. Finally, State of New Jersey Common Pension Fund D grew its holdings in Skechers U.S.A. by 5.2% during the 3rd quarter. State of New Jersey Common Pension Fund D now owns 202,700 shares of the textile maker’s stock worth $5,086,000 after acquiring an additional 10,000 shares in the last quarter. Institutional investors own 70.10% of the company’s stock.
Several research analysts have issued reports on the stock. B. Riley reiterated a “buy” rating and set a $37.00 target price on shares of Skechers U.S.A. in a report on Friday, July 21st. Zacks Investment Research upgraded shares of Skechers U.S.A. from a “sell” rating to a “hold” rating and set a $38.00 target price on the stock in a report on Monday, October 23rd. Vetr upgraded shares of Skechers U.S.A. from a “buy” rating to a “strong-buy” rating and set a $34.87 target price on the stock in a report on Monday. Citigroup Inc. increased their target price on shares of Skechers U.S.A. from $30.00 to $34.00 and gave the stock a “buy” rating in a report on Friday, July 21st. Finally, Cowen and Company set a $35.00 target price on shares of Skechers U.S.A. and gave the stock a “buy” rating in a report on Saturday, July 22nd. Two investment analysts have rated the stock with a sell rating, four have given a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the company. Skechers U.S.A. presently has an average rating of “Buy” and a consensus price target of $34.74.
In other Skechers U.S.A. news, Director Jeffrey Greenberg sold 30,000 shares of the firm’s stock in a transaction that occurred on Wednesday, November 1st. The shares were sold at an average price of $31.72, for a total transaction of $951,600.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Richard Siskind sold 25,500 shares of the firm’s stock in a transaction that occurred on Tuesday, October 24th. The stock was sold at an average price of $33.40, for a total transaction of $851,700.00. The disclosure for this sale can be found here. Insiders sold a total of 386,504 shares of company stock valued at $12,319,249 over the last quarter. 38.20% of the stock is owned by company insiders.
Shares of Skechers U.S.A., Inc. (SKX) opened at $32.00 on Monday. The company has a market cap of $5,071.04, a P/E ratio of 19.88, a P/E/G ratio of 1.36 and a beta of 0.11. The company has a debt-to-equity ratio of 0.04, a current ratio of 3.46 and a quick ratio of 2.30. Skechers U.S.A., Inc. has a 12 month low of $21.33 and a 12 month high of $34.87.
Skechers U.S.A. (NYSE:SKX) last released 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. The company had revenue of $1.09 billion during the quarter, compared to analysts’ expectations of $1.07 billion. Skechers U.S.A. had a net margin of 6.38% and a return on equity of 13.70%. Skechers U.S.A.’s revenue for the quarter was up 16.2% on a year-over-year basis. During the same period last year, the business earned $0.42 EPS. analysts anticipate that Skechers U.S.A., Inc. will post 1.69 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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