Vestcor Inc Acquires New Shares in Skechers U.S.A., Inc. (NYSE:SKX)

Vestcor Inc acquired a new stake in shares of Skechers U.S.A., Inc. (NYSE:SKX - Free Report) during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor acquired 10,911 shares of the textile maker's stock, valued at approximately $730,000.

A number of other large investors also recently bought and sold shares of the company. UMB Bank n.a. boosted its holdings in Skechers U.S.A. by 423.3% in the third quarter. UMB Bank n.a. now owns 450 shares of the textile maker's stock worth $30,000 after purchasing an additional 364 shares during the period. Venturi Wealth Management LLC raised its stake in Skechers U.S.A. by 52.9% during the third quarter. Venturi Wealth Management LLC now owns 864 shares of the textile maker's stock worth $58,000 after acquiring an additional 299 shares during the period. Blue Trust Inc. lifted its holdings in Skechers U.S.A. by 778.1% in the third quarter. Blue Trust Inc. now owns 1,001 shares of the textile maker's stock worth $69,000 after acquiring an additional 887 shares during the last quarter. 1620 Investment Advisors Inc. acquired a new position in Skechers U.S.A. in the second quarter valued at approximately $69,000. Finally, Brooklyn Investment Group acquired a new stake in shares of Skechers U.S.A. during the 3rd quarter worth approximately $67,000. Institutional investors own 79.96% of the company's stock.

Skechers U.S.A. Trading Up 0.4 %

Shares of SKX traded up $0.25 during midday trading on Friday, hitting $70.35. The stock had a trading volume of 1,067,411 shares, compared to its average volume of 1,884,258. The company has a current ratio of 1.96, a quick ratio of 1.25 and a debt-to-equity ratio of 0.01. The firm has a market cap of $10.62 billion, a P/E ratio of 17.33, a price-to-earnings-growth ratio of 0.99 and a beta of 1.22. Skechers U.S.A., Inc. has a fifty-two week low of $55.67 and a fifty-two week high of $75.09. The business has a 50-day simple moving average of $64.07 and a two-hundred day simple moving average of $66.21.

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

Wall Street Analyst Weigh In

Several equities analysts have recently commented on SKX shares. Bank of America lowered 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. StockNews.com cut Skechers U.S.A. from a "buy" rating to a "hold" rating in a report on Monday, November 25th. Deutsche Bank Aktiengesellschaft increased their price objective on Skechers U.S.A. from $83.00 to $84.00 and gave the stock a "buy" rating in a report on Friday, October 25th. Morgan Stanley boosted their price target 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. Finally, TD Cowen cut their price objective on shares of Skechers U.S.A. from $78.00 to $76.00 and set a "buy" rating on the stock in a research note on Monday, October 14th. Three equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. According to data from MarketBeat.com, Skechers U.S.A. currently has a consensus rating of "Moderate Buy" and a consensus target price of $77.00.

Skechers U.S.A. 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.