Fmr LLC Buys 7,075 Shares of Skechers U.S.A., Inc. (SKX)
Fmr LLC lifted its stake in Skechers U.S.A., Inc. (NYSE:SKX) by 0.0% in the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 20,068,189 shares of the textile maker’s stock after purchasing an additional 7,075 shares during the quarter. Fmr LLC owned about 12.90% of Skechers U.S.A. worth $592,011,000 at the end of the most recent reporting period.
Other large investors also recently bought and sold shares of the company. Seven Eight Capital LP acquired a new stake in shares of Skechers U.S.A. in the second quarter valued at approximately $105,000. Tower Research Capital LLC TRC increased its holdings in shares of Skechers U.S.A. by 430.9% in the first quarter. Tower Research Capital LLC TRC now owns 3,844 shares of the textile maker’s stock valued at $106,000 after purchasing an additional 3,120 shares during the last quarter. US Bancorp DE increased its holdings in shares of Skechers U.S.A. by 94.9% in the first quarter. US Bancorp DE now owns 3,895 shares of the textile maker’s stock valued at $107,000 after purchasing an additional 1,897 shares during the last quarter. Exane Derivatives acquired a new stake in shares of Skechers U.S.A. in the second quarter valued at approximately $118,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in shares of Skechers U.S.A. by 12.3% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 4,594 shares of the textile maker’s stock valued at $136,000 after purchasing an additional 503 shares during the last quarter. 70.52% of the stock is owned by hedge funds and other institutional investors.
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In other news, General Counsel Phillip Paccione sold 1,004 shares of the company’s stock in a transaction on Thursday, August 24th. The stock was sold at an average price of $27.24, for a total transaction of $27,348.96. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 38.20% of the company’s stock.
Shares of Skechers U.S.A., Inc. (SKX) opened at 24.82 on Monday. The firm has a market capitalization of $3.93 billion, a PE ratio of 17.21 and a beta of 0.18. The stock has a 50 day moving average price of $27.08 and a 200-day moving average price of $26.77. Skechers U.S.A., Inc. has a 52 week low of $18.81 and a 52 week high of $30.00.
Skechers U.S.A. (NYSE:SKX) last released its quarterly earnings data on Thursday, July 20th. The textile maker reported $0.38 EPS for the quarter, missing analysts’ consensus estimates of $0.44 by ($0.06). The firm had revenue of $1.03 billion for the quarter, compared to analyst estimates of $966.46 million. Skechers U.S.A. had a return on equity of 12.79% and a net margin of 5.92%. The company’s quarterly revenue was up 16.9% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.48 earnings per share. Equities analysts anticipate that Skechers U.S.A., Inc. will post $1.57 earnings per share for the current year.
Several equities research analysts recently commented on SKX shares. Citigroup Inc. raised Skechers U.S.A. from a “neutral” rating to a “buy” rating and increased their price target for the company from $25.52 to $30.00 in a report on Thursday, June 1st. Vetr cut Skechers U.S.A. from a “buy” rating to a “hold” rating and set a $27.28 price target for the company. in a report on Monday, June 5th. UBS AG raised Skechers U.S.A. from a “neutral” rating to a “positive” rating in a report on Monday, June 5th. Susquehanna Bancshares Inc raised Skechers U.S.A. from a “neutral” rating to a “positive” rating and increased their price target for the company from $25.00 to $32.00 in a report on Monday, June 5th. Finally, Morgan Stanley increased their price target on Skechers U.S.A. from $25.00 to $26.00 and gave the company an “equal weight” rating in a report on Tuesday, June 6th. Three analysts have rated the stock with a sell rating, three have assigned a hold rating and ten have given a buy rating to the stock. The stock has a consensus rating of “Hold” and a consensus target price of $31.10.
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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