Goelzer Investment Management Inc. Lowers Position in Skechers U.S.A., Inc. (SKX)
Goelzer Investment Management Inc. reduced its stake in shares of Skechers U.S.A., Inc. (NYSE:SKX) by 7.4% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 47,636 shares of the textile maker’s stock after selling 3,800 shares during the period. Goelzer Investment Management Inc.’s holdings in Skechers U.S.A. were worth $1,405,000 as of its most recent filing with the SEC.
A number of other institutional investors also recently modified their holdings of SKX. Macquarie Group Ltd. increased its position in shares of Skechers U.S.A. by 2,539.9% in the fourth quarter. Macquarie Group Ltd. now owns 250,790 shares of the textile maker’s stock valued at $6,164,000 after buying an additional 241,290 shares during the last quarter. Capstone Asset Management Co. increased its position in shares of Skechers U.S.A. by 0.9% in the first quarter. Capstone Asset Management Co. now owns 18,446 shares of the textile maker’s stock valued at $506,000 after buying an additional 160 shares during the last quarter. Parametrica Management Ltd bought a new position in shares of Skechers U.S.A. during the first quarter valued at approximately $236,000. Louisiana State Employees Retirement System increased its position in shares of Skechers U.S.A. by 2.4% in the first quarter. Louisiana State Employees Retirement System now owns 33,800 shares of the textile maker’s stock valued at $928,000 after buying an additional 800 shares during the last quarter. Finally, Capital Impact Advisors LLC increased its position in shares of Skechers U.S.A. by 15.3% in the first quarter. Capital Impact Advisors LLC now owns 55,204 shares of the textile maker’s stock valued at $1,515,000 after buying an additional 7,308 shares during the last quarter. 65.11% of the stock is owned by institutional investors and hedge funds.
Skechers U.S.A., Inc. (SKX) opened at 27.80 on Tuesday. The company’s 50-day moving average is $28.41 and its 200-day moving average is $26.34. Skechers U.S.A., Inc. has a 52 week low of $18.81 and a 52 week high of $30.00. The company has a market cap of $4.33 billion, a P/E ratio of 19.28 and a beta of 0.18.
Skechers U.S.A. (NYSE:SKX) last posted its quarterly earnings results on Thursday, July 20th. The textile maker reported $0.38 EPS for the quarter, missing the Zacks’ consensus estimate of $0.44 by $0.06. Skechers U.S.A. had a net margin of 5.92% and a return on equity of 12.79%. The firm had revenue of $1.03 billion for the quarter, compared to the consensus estimate of $966.46 million. During the same quarter in the prior year, the company earned $0.48 earnings per share. The company’s quarterly revenue was up 16.9% compared to the same quarter last year. On average, analysts anticipate that Skechers U.S.A., Inc. will post $1.57 EPS for the current fiscal year.
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SKX has been the subject of several research reports. Susquehanna Bancshares Inc raised shares of Skechers U.S.A. from a “negative” rating to a “neutral” rating and set a $25.00 price objective for the company in a research note on Monday, April 10th. Vetr raised shares of Skechers U.S.A. from a “hold” rating to a “buy” rating and set a $26.28 price target for the company in a research note on Wednesday, April 12th. Zacks Investment Research downgraded shares of Skechers U.S.A. from a “hold” rating to a “sell” rating in a research note on Wednesday, April 12th. B. Riley raised shares of Skechers U.S.A. from a “neutral” rating to a “buy” rating and set a $32.00 price target for the company in a research note on Friday, April 21st. Finally, Cowen and Company reaffirmed a “buy” rating and set a $35.00 price target on shares of Skechers U.S.A. in a research note on Friday, April 21st. Two investment analysts have rated the stock with a sell rating, four have assigned a hold rating and ten have issued a buy rating to the stock. Skechers U.S.A. presently has an average rating of “Buy” and a consensus target price of $31.10.
In related news, Director Richard Rappaport sold 1,500 shares of the company’s stock in a transaction on Friday, June 23rd. The shares were sold at an average price of $28.38, for a total transaction of $42,570.00. Following the completion of the sale, the director now directly owns 20,000 shares in the company, valued at approximately $567,600. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 38.20% of the company’s stock.
About Skechers U.S.A.
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.
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