Northern Trust Corp Buys 4,973 Shares of Skechers U.S.A., Inc. (SKX)

Northern Trust Corp increased its holdings in Skechers U.S.A., Inc. (NYSE:SKX) by 0.4% during the second quarter, according to its most recent disclosure with the SEC. The institutional investor owned 1,116,692 shares of the textile maker’s stock after buying an additional 4,973 shares during the period. Northern Trust Corp owned 0.72% of Skechers U.S.A. worth $32,943,000 as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. Seven Eight Capital LP purchased a new stake in shares of Skechers U.S.A. in the second quarter worth $105,000. Tower Research Capital LLC TRC raised its position in shares of Skechers U.S.A. by 430.9% in 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 in the last quarter. US Bancorp DE raised its position in shares of Skechers U.S.A. by 94.9% in 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 in the last quarter. Exane Derivatives purchased a new stake in shares of Skechers U.S.A. in the second quarter worth $118,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank raised its position in shares of Skechers U.S.A. by 12.3% in 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 in the last quarter. Institutional investors own 70.52% of the company’s stock.

Shares of Skechers U.S.A., Inc. (NYSE:SKX) opened at 24.18 on Tuesday. Skechers U.S.A., Inc. has a 52-week low of $18.81 and a 52-week high of $30.00. The stock has a market cap of $3.83 billion, a P/E ratio of 16.77 and a beta of 0.19. The firm’s 50-day moving average price is $25.54 and its 200-day moving average price is $26.47.

Skechers U.S.A. (NYSE:SKX) last announced its quarterly earnings results on Thursday, July 20th. The textile maker reported $0.38 EPS for the quarter, missing the consensus estimate of $0.44 by ($0.06). The company had revenue of $1.03 billion during the quarter, compared to analysts’ expectations 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% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.48 EPS. Equities analysts predict that Skechers U.S.A., Inc. will post $1.57 EPS for the current year.

In other Skechers U.S.A. news, General Counsel Phillip Paccione sold 1,004 shares of the business’s stock in a transaction on Thursday, August 24th. The shares were sold at an average price of $27.24, for a total value of $27,348.96. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 38.20% of the stock is owned by insiders.

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A number of equities research analysts recently issued reports on SKX shares. BidaskClub upgraded Skechers U.S.A. from a “hold” rating to a “buy” rating in a research report on Friday, June 30th. Susquehanna Bancshares Inc reiterated a “positive” rating and issued a $34.00 price objective (up previously from $32.00) on shares of Skechers U.S.A. in a research report on Sunday, July 23rd. B. Riley reiterated a “buy” rating and issued a $37.00 price objective on shares of Skechers U.S.A. in a research report on Friday, July 21st. Vetr downgraded Skechers U.S.A. from a “strong-buy” rating to a “buy” rating and set a $32.17 price objective on the stock. in a research report on Tuesday, July 25th. Finally, Cowen and Company set a $35.00 price objective on Skechers U.S.A. and gave the stock a “buy” rating in a research report on Saturday, July 22nd. Three investment analysts have rated the stock with a sell rating, three have assigned a hold rating and ten have issued a buy rating to the stock. The stock currently has an average rating of “Hold” and a consensus price target of $31.02.

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.

Institutional Ownership by Quarter for Skechers U.S.A. (NYSE:SKX)

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