State Street Corp Lowers Stock Holdings in Skechers U.S.A., Inc. (NYSE:SKX)

State Street Corp lowered its holdings in shares of Skechers U.S.A., Inc. (NYSE:SKX - Free Report) by 0.4% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 4,593,108 shares of the textile maker's stock after selling 18,238 shares during the quarter. State Street Corp owned 3.04% of Skechers U.S.A. worth $307,371,000 as of its most recent SEC filing.

Several other hedge funds also recently bought and sold shares of SKX. Stifel Financial Corp grew its stake in Skechers U.S.A. by 120.7% in the 3rd quarter. Stifel Financial Corp now owns 72,808 shares of the textile maker's stock worth $4,872,000 after acquiring an additional 39,819 shares in the last quarter. SageView Advisory Group LLC increased its holdings in Skechers U.S.A. by 58.0% during the 3rd quarter. SageView Advisory Group LLC now owns 8,272 shares of the textile maker's stock worth $554,000 after purchasing an additional 3,035 shares during the period. Quantinno Capital Management LP raised its position in Skechers U.S.A. by 42.1% during the 3rd quarter. Quantinno Capital Management LP now owns 86,920 shares of the textile maker's stock valued at $5,817,000 after purchasing an additional 25,741 shares in the last quarter. Cinctive Capital Management LP purchased a new stake in shares of Skechers U.S.A. in the 3rd quarter worth $326,000. Finally, Point72 Asia Singapore Pte. Ltd. grew its position in shares of Skechers U.S.A. by 8.0% during the 3rd quarter. Point72 Asia Singapore Pte. Ltd. now owns 7,355 shares of the textile maker's stock worth $492,000 after buying an additional 545 shares in the last quarter. Institutional investors own 79.96% of the company's stock.

Skechers U.S.A. Stock Performance

Shares of SKX stock traded up $0.48 during trading hours on Wednesday, hitting $70.87. The company's stock had a trading volume of 890,029 shares, compared to its average volume of 1,886,932. The stock has a market cap of $10.70 billion, a PE ratio of 17.48, a price-to-earnings-growth ratio of 0.99 and a beta of 1.22. Skechers U.S.A., Inc. has a 12-month low of $55.67 and a 12-month high of $75.09. The company has a 50 day moving average of $63.81 and a 200 day moving average of $66.13. 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 - Get Free Report) last announced its quarterly 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. The company had revenue of $2.35 billion for the quarter, compared to the consensus estimate of $2.31 billion. Skechers U.S.A. had a return on equity of 13.71% and a net margin of 7.19%. The firm's revenue for the quarter was up 16.0% compared to the same quarter last year. During the same period last year, the firm earned $0.93 EPS. On average, sell-side analysts forecast that Skechers U.S.A., Inc. will post 4.25 EPS for the current fiscal year.

Analyst Ratings Changes

SKX has been the subject of several recent research reports. TD Cowen decreased their price objective on Skechers U.S.A. from $78.00 to $76.00 and set a "buy" rating for the company in a report on Monday, October 14th. Needham & Company LLC began coverage on shares of Skechers U.S.A. in a report on Friday, November 22nd. They issued a "hold" rating for the company. Deutsche Bank Aktiengesellschaft increased their price objective 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. StockNews.com lowered Skechers U.S.A. from a "buy" rating to a "hold" rating in a research note on Monday, November 25th. Finally, Bank of America decreased their price target on shares of Skechers U.S.A. from $81.00 to $80.00 and set a "buy" rating for the company in a research report on Friday, October 25th. Three investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $77.00.

About Skechers U.S.A.

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.