Voya Investment Management LLC decreased its position in shares of Skechers U.S.A., Inc. (NYSE:SKX) by 18.4% in the 2nd quarter, according to its most recent 13F filing with the SEC. The firm owned 42,688 shares of the textile maker’s stock after selling 9,643 shares during the quarter. Voya Investment Management LLC’s holdings in Skechers U.S.A. were worth $1,259,000 at the end of the most recent quarter.
Several other hedge funds have also recently bought and sold shares of the company. BlackRock Inc. grew its stake in shares of Skechers U.S.A. by 3,136.5% during the 1st quarter. BlackRock Inc. now owns 11,190,173 shares of the textile maker’s stock worth $307,170,000 after acquiring an additional 10,844,421 shares during the period. Vanguard Group Inc. grew its stake in shares of Skechers U.S.A. by 5.0% during the 2nd quarter. Vanguard Group Inc. now owns 10,543,894 shares of the textile maker’s stock worth $311,045,000 after acquiring an additional 500,360 shares during the period. Amerigo Asset Management grew its stake in shares of Skechers U.S.A. by 38.2% during the 2nd quarter. Amerigo Asset Management now owns 6,134,253 shares of the textile maker’s stock worth $180,960,000 after acquiring an additional 1,694,253 shares during the period. State Street Corp grew its stake in shares of Skechers U.S.A. by 2.8% during the 1st quarter. State Street Corp now owns 3,417,147 shares of the textile maker’s stock worth $93,798,000 after acquiring an additional 93,722 shares during the period. Finally, Prudential Financial Inc. grew its stake in shares of Skechers U.S.A. by 125.7% during the 2nd quarter. Prudential Financial Inc. now owns 2,302,352 shares of the textile maker’s stock worth $67,919,000 after acquiring an additional 1,282,260 shares during the period. Institutional investors own 70.52% of the company’s stock.
Shares of Skechers U.S.A., Inc. (NYSE:SKX) opened at 33.99 on Monday. The stock has a market cap of $5.39 billion, a PE ratio of 23.57 and a beta of 0.19. Skechers U.S.A., Inc. has a 12-month low of $18.81 and a 12-month high of $34.33. The firm has a 50 day moving average price of $25.54 and a 200 day moving average price of $26.45.
Skechers U.S.A. (NYSE:SKX) last released its quarterly earnings data on Thursday, October 19th. The textile maker reported $0.59 earnings per share for the quarter, topping analysts’ consensus estimates of $0.43 by $0.16. The firm had revenue of $1.09 billion during the quarter, compared to analyst estimates of $1.07 billion. Skechers U.S.A. had a return on equity of 14.10% and a net margin of 6.38%. The business’s quarterly revenue was up 16.2% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.42 earnings per share. On average, equities analysts expect that Skechers U.S.A., Inc. will post $1.56 EPS for the current year.
Several research firms have recently weighed in on SKX. Wells Fargo & Company increased their price target on Skechers U.S.A. from $33.00 to $36.00 and gave the stock a “market perform” rating in a research note on Friday. BidaskClub downgraded Skechers U.S.A. from a “buy” rating to a “hold” rating in a research note on Thursday, July 13th. OTR Global upgraded Skechers U.S.A. from a “mixed” rating to a “positive” rating in a research note on Tuesday, July 18th. B. Riley set a $37.00 price target on Skechers U.S.A. and gave the stock a “buy” rating in a research note on Friday. Finally, Buckingham Research set a $36.00 price target on Skechers U.S.A. and gave the stock a “buy” rating in a research note on Friday. Three research analysts have rated the stock with a sell rating, four have issued a hold rating and nine have assigned a buy rating to the company’s stock. Skechers U.S.A. has an average rating of “Hold” and a consensus target price of $34.16.
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In related news, General Counsel Phillip Paccione sold 1,004 shares of the stock in a transaction that occurred on Thursday, August 24th. The stock was sold at an average price of $27.24, for a total transaction of $27,348.96. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 21.73% of the stock is currently owned by corporate insiders.
Skechers U.S.A. Company Profile
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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