Fmr LLC Grows Position in Skechers U.S.A., Inc. (NYSE:SKX)

Fmr LLC raised its position in shares of Skechers U.S.A., Inc. (NYSE:SKX) by 0.1% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 19,881,372 shares of the textile maker’s stock after buying an additional 22,085 shares during the quarter. Fmr LLC owned about 13.17% of Skechers U.S.A. worth $1,330,461,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Bessemer Group Inc. grew its holdings in Skechers U.S.A. by 66.7% during the 1st quarter. Bessemer Group Inc. now owns 410 shares of the textile maker’s stock valued at $25,000 after buying an additional 164 shares in the last quarter. UMB Bank n.a. grew its holdings in Skechers U.S.A. by 423.3% during the 3rd quarter. UMB Bank n.a. now owns 450 shares of the textile maker’s stock valued at $30,000 after buying an additional 364 shares in the last quarter. Versant Capital Management Inc grew its holdings in Skechers U.S.A. by 2,809.1% during the 2nd quarter. Versant Capital Management Inc now owns 640 shares of the textile maker’s stock valued at $44,000 after buying an additional 618 shares in the last quarter. Venturi Wealth Management LLC grew its holdings in Skechers U.S.A. by 52.9% during the 3rd quarter. Venturi Wealth Management LLC now owns 864 shares of the textile maker’s stock valued at $58,000 after buying an additional 299 shares in the last quarter. Finally, Blue Trust Inc. grew its holdings in Skechers U.S.A. by 778.1% during the 3rd quarter. Blue Trust Inc. now owns 1,001 shares of the textile maker’s stock valued at $69,000 after buying an additional 887 shares in the last quarter. Hedge funds and other institutional investors own 79.96% of the company’s stock.

Skechers U.S.A. Trading Down 0.8 %

Shares of NYSE:SKX opened at $62.96 on Wednesday. Skechers U.S.A., Inc. has a 12-month low of $55.51 and a 12-month high of $75.09. The business’s fifty day simple moving average is $63.42 and its 200-day simple moving average is $66.17. The company has a market capitalization of $9.51 billion, a PE ratio of 15.51, a P/E/G ratio of 0.88 and a beta of 1.23. The company has a current ratio of 1.96, a quick ratio of 1.25 and a debt-to-equity ratio of 0.01.

Skechers U.S.A. (NYSE:SKX) last announced its earnings results on Thursday, October 24th. The textile maker reported $1.26 earnings per share for the quarter, topping the consensus estimate of $1.15 by $0.11. Skechers U.S.A. had a return on equity of 13.71% and a net margin of 7.19%. The firm had revenue of $2.35 billion for the quarter, compared to the consensus estimate of $2.31 billion. During the same period in the previous year, the business earned $0.93 EPS. The firm’s revenue for the quarter was up 16.0% on a year-over-year basis. As a group, equities research analysts predict that Skechers U.S.A., Inc. will post 4.25 earnings per share for the current fiscal year.

Analysts Set New Price Targets

SKX has been the subject of several analyst reports. Barclays raised their price objective on Skechers U.S.A. from $79.00 to $80.00 and gave the company an “overweight” rating in a research note on Friday, October 25th. TD Cowen lowered their price objective on Skechers U.S.A. from $78.00 to $76.00 and set a “buy” rating for the company in a research note on Monday, October 14th. Needham & Company LLC initiated coverage on Skechers U.S.A. in a research note on Friday, November 22nd. They issued a “hold” rating for the company. Morgan Stanley raised their price objective on Skechers U.S.A. from $81.00 to $84.00 and gave the company an “overweight” rating in a research note on Friday, October 25th. Finally, StockNews.com lowered Skechers U.S.A. from a “buy” rating to a “hold” rating in a research note on Monday. Two equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $78.09.

Skechers U.S.A. Company Profile

Skechers U.SA, Inc designs, develops, markets, and distributes footwear for men, women, and children worldwide. The company operates through Wholesale and Direct-to-Consumer segments. It offers footwear under Skechers Hands Free Slip-ins, Skechers Arch Fit, and Skechers Air-Cooled Memory Foam brands.