National Bank of Canada FI Has $4.73 Million Stock Position in Skechers U.S.A., Inc. (NYSE:SKX)

National Bank of Canada FI raised its stake in shares of Skechers U.S.A., Inc. (NYSE:SKX - Free Report) by 2,340.0% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 70,710 shares of the textile maker's stock after buying an additional 67,812 shares during the period. National Bank of Canada FI's holdings in Skechers U.S.A. were worth $4,732,000 as of its most recent SEC filing.

Other institutional investors also recently made changes to their positions in the company. Pacer Advisors Inc. grew its stake in shares of Skechers U.S.A. by 5,780.6% in the 3rd quarter. Pacer Advisors Inc. now owns 2,639,390 shares of the textile maker's stock worth $176,628,000 after purchasing an additional 2,594,507 shares during the last quarter. Commerce Bank grew its position in Skechers U.S.A. by 949.5% in the third quarter. Commerce Bank now owns 467,774 shares of the textile maker's stock worth $31,303,000 after buying an additional 423,204 shares during the last quarter. Coronation Fund Managers Ltd. increased its holdings in shares of Skechers U.S.A. by 378.6% in the third quarter. Coronation Fund Managers Ltd. now owns 498,837 shares of the textile maker's stock valued at $33,382,000 after buying an additional 394,618 shares in the last quarter. Acadian Asset Management LLC acquired a new stake in shares of Skechers U.S.A. during the 2nd quarter valued at $22,425,000. Finally, Wellington Management Group LLP boosted its stake in shares of Skechers U.S.A. by 39.0% during the 3rd quarter. Wellington Management Group LLP now owns 1,025,556 shares of the textile maker's stock worth $68,630,000 after acquiring an additional 287,939 shares in the last quarter. 79.96% of the stock is owned by institutional investors and hedge funds.

Skechers U.S.A. Stock Up 0.4 %

Shares of NYSE SKX traded up $0.25 during trading hours on Friday, hitting $70.35. The stock had a trading volume of 1,067,411 shares, compared to its average volume of 1,882,785. The firm's 50-day moving average price is $64.07 and its two-hundred day moving average price is $66.21. Skechers U.S.A., Inc. has a 52 week low of $55.67 and a 52 week high of $75.09. The company has a market capitalization of $10.62 billion, a P/E ratio of 17.31, a P/E/G ratio of 0.99 and a beta of 1.22. The company has a debt-to-equity ratio of 0.01, a quick ratio of 1.25 and a current ratio of 1.96.

Skechers U.S.A. (NYSE:SKX - Get Free Report) last released its quarterly earnings results on Thursday, October 24th. The textile maker reported $1.26 earnings per share for the quarter, beating analysts' consensus estimates of $1.15 by $0.11. The business had revenue of $2.35 billion for the quarter, compared to the consensus estimate of $2.31 billion. Skechers U.S.A. had a net margin of 7.19% and a return on equity of 13.71%. Skechers U.S.A.'s revenue for the quarter was up 16.0% on a year-over-year basis. During the same quarter last year, the firm earned $0.93 EPS. Analysts anticipate that Skechers U.S.A., Inc. will post 4.24 EPS for the current fiscal year.

Analyst Ratings Changes

Several analysts have issued reports on SKX shares. Bank of America cut their price objective on Skechers U.S.A. from $81.00 to $80.00 and set a "buy" rating on the stock in a report on Friday, October 25th. TD Cowen cut their price target on shares of Skechers U.S.A. from $78.00 to $76.00 and set a "buy" rating on the stock in a report on Monday, October 14th. Piper Sandler started coverage on shares of Skechers U.S.A. in a research note on Tuesday. They issued a "neutral" rating and a $65.00 price objective for the company. Deutsche Bank Aktiengesellschaft boosted their target price on shares of Skechers U.S.A. from $83.00 to $84.00 and gave the company a "buy" rating in a research note on Friday, October 25th. Finally, Morgan Stanley raised their target price on Skechers U.S.A. from $81.00 to $84.00 and gave the stock an "overweight" rating in a research report on Friday, October 25th. Three research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company's stock. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $77.00.

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.