Legal & General Group Plc grew its position in shares of Skechers USA Inc (NYSE:SKX) by 1.5% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 181,851 shares of the textile maker’s stock after buying an additional 2,729 shares during the period. Legal & General Group Plc owned approximately 0.11% of Skechers USA worth $5,458,000 at the end of the most recent quarter.
A number of other hedge funds have also recently bought and sold shares of SKX. BlackRock Inc. increased its position in shares of Skechers USA by 1.9% in the second quarter. BlackRock Inc. now owns 13,107,423 shares of the textile maker’s stock worth $393,355,000 after purchasing an additional 244,350 shares during the period. Olstein Capital Management L.P. increased its position in shares of Skechers USA by 94.2% in the second quarter. Olstein Capital Management L.P. now owns 301,650 shares of the textile maker’s stock worth $9,053,000 after purchasing an additional 146,350 shares during the period. Buckingham Capital Management Inc. boosted its stake in Skechers USA by 71.1% in the first quarter. Buckingham Capital Management Inc. now owns 9,995 shares of the textile maker’s stock valued at $389,000 after buying an additional 4,155 shares in the last quarter. Principal Financial Group Inc. boosted its stake in Skechers USA by 4.7% in the first quarter. Principal Financial Group Inc. now owns 600,758 shares of the textile maker’s stock valued at $23,363,000 after buying an additional 27,185 shares in the last quarter. Finally, GSA Capital Partners LLP boosted its stake in Skechers USA by 36.9% in the second quarter. GSA Capital Partners LLP now owns 42,422 shares of the textile maker’s stock valued at $1,273,000 after buying an additional 11,436 shares in the last quarter. Hedge funds and other institutional investors own 70.89% of the company’s stock.
Several research firms recently weighed in on SKX. Wedbush reduced their price objective on Skechers USA from $33.00 to $28.00 and set a “neutral” rating on the stock in a research note on Friday, July 20th. Susquehanna Bancshares reaffirmed a “neutral” rating on shares of Skechers USA in a research note on Friday, July 20th. UBS Group lowered Skechers USA from a “positive” rating to a “neutral” rating and reduced their price objective for the company from $41.00 to $37.00 in a research note on Friday, July 20th. Wells Fargo & Co lowered Skechers USA from an “outperform” rating to a “market perform” rating and set a $36.00 price target on the stock. in a research note on Friday, July 20th. Finally, Buckingham Research cut their price target on Skechers USA from $42.00 to $31.00 and set a “buy” rating on the stock in a research note on Friday, July 20th. One analyst has rated the stock with a sell rating, nine have assigned a hold rating and six have given a buy rating to the stock. Skechers USA currently has an average rating of “Hold” and an average price target of $36.62.
Shares of Skechers USA stock traded up $0.45 during midday trading on Friday, reaching $25.64. The company had a trading volume of 2,756,319 shares, compared to its average volume of 3,028,426. The company has a debt-to-equity ratio of 0.03, a current ratio of 3.28 and a quick ratio of 2.14. The firm has a market cap of $4.45 billion, a P/E ratio of 14.40, a P/E/G ratio of 1.62 and a beta of 0.36. Skechers USA Inc has a fifty-two week low of $23.80 and a fifty-two week high of $43.08.
Skechers USA (NYSE:SKX) last posted its quarterly earnings data on Thursday, July 19th. The textile maker reported $0.29 EPS for the quarter, missing the Zacks’ consensus estimate of $0.41 by ($0.12). The company had revenue of $1.13 billion during the quarter, compared to analyst estimates of $1.13 billion. Skechers USA had a return on equity of 14.17% and a net margin of 4.24%. Skechers USA’s revenue was up 10.6% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.38 earnings per share. Equities analysts anticipate that Skechers USA Inc will post 1.72 earnings per share for the current fiscal year.
Skechers USA Company 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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