Thompson Investment Management Inc. Lowers Stake in Skechers U.S.A., Inc. (NYSE:SKX)

Thompson Investment Management Inc. lessened its holdings in Skechers U.S.A., Inc. (NYSE:SKX) by 1.2% during the first quarter, according to the company in its most recent disclosure with the SEC. The firm owned 68,118 shares of the textile maker’s stock after selling 826 shares during the quarter. Thompson Investment Management Inc.’s holdings in Skechers U.S.A. were worth $4,173,000 at the end of the most recent quarter.

Several other large investors have also recently made changes to their positions in the business. Game Plan Financial Advisors LLC bought a new stake in shares of Skechers U.S.A. in the first quarter worth approximately $43,000. FCF Advisors LLC raised its stake in Skechers U.S.A. by 8.0% during the first quarter. FCF Advisors LLC now owns 13,951 shares of the textile maker’s stock valued at $855,000 after purchasing an additional 1,029 shares in the last quarter. Park Avenue Securities LLC boosted its holdings in shares of Skechers U.S.A. by 4.3% in the 1st quarter. Park Avenue Securities LLC now owns 12,262 shares of the textile maker’s stock worth $751,000 after purchasing an additional 502 shares during the period. Vanguard Group Inc. increased its position in Skechers U.S.A. by 0.3% during the fourth quarter. Vanguard Group Inc. now owns 12,626,633 shares of the textile maker’s stock valued at $787,144,000 after acquiring an additional 40,138 shares during the last quarter. Finally, Goldman Sachs Group Inc. boosted its holdings in Skechers U.S.A. by 99.2% during the 4th quarter. Goldman Sachs Group Inc. now owns 824,263 shares of the textile maker’s stock valued at $51,385,000 after acquiring an additional 410,379 shares during the period. 79.96% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Skechers U.S.A.

In related news, General Counsel Phillip Paccione sold 423 shares of the company’s stock in a transaction dated Tuesday, June 4th. The stock was sold at an average price of $69.45, for a total value of $29,377.35. Following the completion of the sale, the general counsel now directly owns 35,000 shares of the company’s stock, valued at approximately $2,430,750. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 24.75% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on SKX. Stifel Nicolaus lifted their price target on shares of Skechers U.S.A. from $74.00 to $81.00 and gave the company a “buy” rating in a research note on Tuesday, May 28th. Bank of America upgraded shares of Skechers U.S.A. from a “neutral” rating to a “buy” rating and increased their price objective for the stock from $71.00 to $87.00 in a research note on Friday, June 7th. Wedbush reiterated an “outperform” rating and issued a $76.00 target price on shares of Skechers U.S.A. in a research note on Friday, May 17th. Deutsche Bank Aktiengesellschaft restated a “buy” rating and set a $82.00 price target on shares of Skechers U.S.A. in a research report on Thursday, June 13th. Finally, TD Cowen raised their target price on Skechers U.S.A. from $70.00 to $74.00 and gave the company a “buy” rating in a research report on Wednesday, March 6th. One research analyst has rated the stock with a hold rating and thirteen have assigned a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $72.00.

Skechers U.S.A. Trading Down 0.5 %

Shares of SKX stock traded down $0.38 during trading hours on Wednesday, hitting $72.43. The company had a trading volume of 467,930 shares, compared to its average volume of 1,691,463. Skechers U.S.A., Inc. has a fifty-two week low of $45.58 and a fifty-two week high of $75.09. The company has a debt-to-equity ratio of 0.02, a current ratio of 2.39 and a quick ratio of 1.56. The company’s fifty day moving average is $68.13 and its 200 day moving average is $63.42. The stock has a market capitalization of $11.05 billion, a PE ratio of 19.06, a price-to-earnings-growth ratio of 1.04 and a beta of 1.28.

Skechers U.S.A. (NYSE:SKX) last issued its quarterly earnings data on Thursday, April 25th. The textile maker reported $1.33 earnings per share for the quarter, beating analysts’ consensus estimates of $1.10 by $0.23. The business had revenue of $2.25 billion during the quarter, compared to analysts’ expectations of $2.20 billion. Skechers U.S.A. had a return on equity of 13.56% and a net margin of 7.17%. The company’s revenue was up 12.5% on a year-over-year basis. During the same period in the previous year, the firm posted $1.02 earnings per share. Research analysts expect that Skechers U.S.A., Inc. will post 4.08 earnings per share for the current fiscal year.

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.