Boston Partners trimmed its stake in shares of Skechers USA Inc (NYSE:SKX) by 8.7% in the second quarter, according to the company in its most recent filing with the SEC. The firm owned 1,878,026 shares of the textile maker’s stock after selling 178,319 shares during the quarter. Boston Partners’ holdings in Skechers USA were worth $59,392,000 as of its most recent SEC filing.
Several other large investors also recently added to or reduced their stakes in SKX. Hanseatic Management Services Inc. bought a new stake in shares of Skechers USA during the 2nd quarter valued at $43,000. Machina Capital S.A.S. bought a new stake in shares of Skechers USA during the 2nd quarter worth $120,000. National Asset Management Inc. bought a new stake in shares of Skechers USA during the 1st quarter worth $229,000. Cutter & CO Brokerage Inc. bought a new stake in shares of Skechers USA during the 2nd quarter worth $234,000. Finally, Piedmont Investment Advisors Inc. bought a new stake in shares of Skechers USA during the 1st quarter worth $270,000. Hedge funds and other institutional investors own 76.28% of the company’s stock.
Several analysts recently weighed in on the company. Stifel Nicolaus upped their price objective on Skechers USA from $35.00 to $44.00 and gave the stock a “buy” rating in a research report on Friday, July 19th. Wedbush upgraded Skechers USA from a “neutral” rating to an “outperform” rating and increased their target price for the company from $31.00 to $46.00 in a research report on Friday, July 19th. UBS Group increased their target price on Skechers USA to $50.00 and gave the company a “buy” rating in a research report on Friday, July 19th. OTR Global upgraded Skechers USA from a “mixed” rating to a “positive” rating in a research report on Thursday, July 11th. Finally, Morgan Stanley increased their target price on Skechers USA from $29.00 to $34.00 and gave the company an “equal weight” rating in a research report on Friday, July 19th. Two analysts have rated the stock with a sell rating, six have issued a hold rating and eight have issued a buy rating to the stock. The company currently has a consensus rating of “Hold” and an average price target of $38.50.
Skechers USA stock traded up $0.68 during trading hours on Thursday, hitting $35.23. The stock had a trading volume of 314,719 shares, compared to its average volume of 2,107,140. The company has a quick ratio of 1.65, a current ratio of 2.51 and a debt-to-equity ratio of 0.43. The stock has a market cap of $5.44 billion, a price-to-earnings ratio of 18.35, a P/E/G ratio of 1.07 and a beta of 0.81. Skechers USA Inc has a one year low of $21.45 and a one year high of $40.50. The business’s 50 day simple moving average is $33.21 and its 200-day simple moving average is $32.41.
Skechers USA (NYSE:SKX) last issued its quarterly earnings results on Thursday, July 18th. The textile maker reported $0.49 earnings per share for the quarter, beating the consensus estimate of $0.33 by $0.16. The company had revenue of $1.26 billion during the quarter, compared to analysts’ expectations of $1.23 billion. Skechers USA had a return on equity of 14.59% and a net margin of 6.72%. The business’s quarterly revenue was up 10.9% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.29 earnings per share. Research analysts anticipate that Skechers USA Inc will post 2.25 EPS for the current fiscal year.
In other news, Director Thomas Walsh sold 1,500 shares of the stock in a transaction dated Thursday, July 25th. The stock was sold at an average price of $39.77, for a total value of $59,655.00. Following the completion of the sale, the director now owns 15,500 shares of the company’s stock, valued at $616,435. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Jeffrey Greenberg sold 90,000 shares of the stock in a transaction dated Friday, July 19th. The shares were sold at an average price of $39.24, for a total value of $3,531,600.00. The disclosure for this sale can be found here. In the last three months, insiders sold 274,500 shares of company stock valued at $10,289,925. Insiders own 28.08% of the company’s stock.
About Skechers USA
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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