Te Ahumairangi Investment Management Ltd lifted its holdings in shares of Skechers U.S.A., Inc. (NYSE:SKX - Free Report) by 31.0% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 89,950 shares of the textile maker's stock after acquiring an additional 21,275 shares during the quarter. Te Ahumairangi Investment Management Ltd owned approximately 0.06% of Skechers U.S.A. worth $5,985,000 as of its most recent SEC filing.
Other institutional investors have also made changes to their positions in the company. Pacer Advisors Inc. boosted its stake in 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 valued at $176,628,000 after purchasing an additional 2,594,507 shares during the period. Commerce Bank boosted its position in shares of Skechers U.S.A. by 949.5% in the third quarter. Commerce Bank now owns 467,774 shares of the textile maker's stock valued at $31,303,000 after acquiring an additional 423,204 shares during the period. Coronation Fund Managers Ltd. boosted its position 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 acquiring an additional 394,618 shares during the period. Acadian Asset Management LLC acquired a new position in shares of Skechers U.S.A. in the second quarter valued at about $22,425,000. Finally, Wellington Management Group LLP increased its position in Skechers U.S.A. by 39.0% during the third 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 during the period. 79.96% of the stock is owned by institutional investors and hedge funds.
Skechers U.S.A. Stock Down 1.3 %
NYSE:SKX traded down $0.91 during trading hours on Thursday, reaching $70.10. The company had a trading volume of 1,504,799 shares, compared to its average volume of 1,887,598. Skechers U.S.A., Inc. has a twelve month low of $55.67 and a twelve month high of $75.09. The company has a quick ratio of 1.25, a current ratio of 1.96 and a debt-to-equity ratio of 0.01. The firm has a market cap of $10.58 billion, a price-to-earnings ratio of 17.25, a P/E/G ratio of 0.99 and a beta of 1.22. The business's 50-day simple moving average is $63.97 and its two-hundred day simple moving average is $66.18.
Skechers U.S.A. (NYSE:SKX - Get Free Report) last issued its earnings results on Thursday, October 24th. The textile maker reported $1.26 EPS for the quarter, beating 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 company had revenue of $2.35 billion during the quarter, compared to the consensus estimate of $2.31 billion. During the same period last year, the business posted $0.93 EPS. The firm's revenue for the quarter was up 16.0% compared to the same quarter last year. On average, equities analysts expect that Skechers U.S.A., Inc. will post 4.25 earnings per share for the current year.
Wall Street Analysts Forecast Growth
Several brokerages have recently commented on SKX. Piper Sandler initiated coverage on shares of Skechers U.S.A. in a report on Tuesday. They set a "neutral" rating and a $65.00 target price on the stock. Needham & Company LLC started coverage on Skechers U.S.A. in a research note on Friday, November 22nd. They set a "hold" rating on the stock. Morgan Stanley upped their price objective on shares of 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. StockNews.com lowered shares of Skechers U.S.A. from a "buy" rating to a "hold" rating in a report on Monday, November 25th. Finally, Bank of America cut 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 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.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $77.00.
View Our Latest Analysis on Skechers U.S.A.
Skechers U.S.A. Company Profile
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Free Report)
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.
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