Dimensional Fund Advisors LP Cuts Stake in Skechers USA Inc. (SKX)
Dimensional Fund Advisors LP decreased its stake in shares of Skechers USA Inc. (NYSE:SKX) by 37.0% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,560,964 shares of the company’s stock after selling 917,083 shares during the period. Dimensional Fund Advisors LP owned 1.01% of Skechers USA worth $46,393,000 at the end of the most recent reporting period.
Other institutional investors have also modified their holdings of the company. Capital Fund Management S.A. raised its position in shares of Skechers USA by 22.3% in the second quarter. Capital Fund Management S.A. now owns 105,151 shares of the company’s stock valued at $3,125,000 after buying an additional 19,191 shares during the last quarter. Prudential PLC raised its position in shares of Skechers USA by 2.3% in the first quarter. Prudential PLC now owns 252,600 shares of the company’s stock valued at $7,692,000 after buying an additional 5,700 shares during the last quarter. Menta Capital LLC raised its position in shares of Skechers USA by 291.2% in the first quarter. Menta Capital LLC now owns 34,392 shares of the company’s stock valued at $1,047,000 after buying an additional 25,600 shares during the last quarter. BlackRock Institutional Trust Company N.A. raised its position in shares of Skechers USA by 0.7% in the first quarter. BlackRock Institutional Trust Company N.A. now owns 3,832,942 shares of the company’s stock valued at $116,713,000 after buying an additional 25,636 shares during the last quarter. Finally, BlackRock Inc. raised its position in shares of Skechers USA by 29.9% in the first quarter. BlackRock Inc. now owns 60,051 shares of the company’s stock valued at $1,829,000 after buying an additional 13,840 shares during the last quarter. 65.70% of the stock is currently owned by institutional investors.
Skechers USA Inc. (NYSE:SKX) opened at 22.622 on Wednesday. Skechers USA Inc. has a 52-week low of $20.90 and a 52-week high of $49.28. The company’s 50-day moving average is $23.38 and its 200-day moving average is $27.67. The firm has a market capitalization of $3.57 billion, a P/E ratio of 13.069 and a beta of 0.15.
Skechers USA (NYSE:SKX) last released its earnings results on Thursday, July 21st. The company reported $0.50 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.52 by $0.02. Skechers USA had a return on equity of 20.20% and a net margin of 7.79%. The firm earned $877.80 million during the quarter, compared to analyst estimates of $892.06 million. During the same quarter last year, the business posted $0.52 EPS. On average, analysts predict that Skechers USA Inc. will post $1.80 EPS for the current year.
Several equities analysts recently issued reports on the stock. B. Riley reissued a “buy” rating and set a $42.00 price objective on shares of Skechers USA in a report on Tuesday, July 19th. Zacks Investment Research raised shares of Skechers USA from a “sell” rating to a “hold” rating in a report on Monday, July 18th. Monness Crespi & Hardt lowered shares of Skechers USA from a “buy” rating to a “neutral” rating in a report on Friday, July 22nd. They noted that the move was a valuation call. Vetr raised shares of Skechers USA from a “hold” rating to a “buy” rating and set a $34.68 price target on the stock in a report on Tuesday, July 19th. Finally, Citigroup Inc. reaffirmed a “buy” rating and issued a $38.00 price target on shares of Skechers USA in a report on Tuesday, August 23rd. Seven research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and a consensus price target of $30.34.
In other news, General Counsel Phillip Paccione sold 1,389 shares of the firm’s stock in a transaction on Thursday, July 28th. The shares were sold at an average price of $24.12, for a total value of $33,502.68. Following the completion of the sale, the general counsel now owns 90,445 shares in the company, valued at approximately $2,181,533.40. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 21.73% of the stock is currently owned by insiders.
About Skechers USA
Skechers U.SA, Inc is a designer and marketer of Skechers-branded lifestyle footwear for men, women and children, and performance footwear for men and women under the Skechers GO brand name. The Company operates through three segments: domestic wholesale sales, international wholesale sales, and retail sales, which includes e-commerce sales.
Receive News & Ratings for Skechers USA Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Skechers USA Inc. and related companies with MarketBeat.com's FREE daily email newsletter.