Principal Financial Group Inc. Has $14.21 Million Stake in Skechers U.S.A., Inc. (SKX)
Principal Financial Group Inc. lowered its position in Skechers U.S.A., Inc. (NYSE:SKX) by 0.4% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 566,376 shares of the textile maker’s stock after selling 2,293 shares during the period. Principal Financial Group Inc. owned approximately 0.36% of Skechers U.S.A. worth $14,210,000 as of its most recent SEC filing.
Other institutional investors have also recently modified their holdings of the company. Mik Capital LLC purchased a new stake in Skechers U.S.A. during the 2nd quarter worth approximately $56,285,000. Amerigo Asset Management lifted its stake in Skechers U.S.A. by 38.2% during the 2nd quarter. Amerigo Asset Management now owns 6,134,253 shares of the textile maker’s stock valued at $180,960,000 after acquiring an additional 1,694,253 shares during the period. State Street Corp lifted its stake in Skechers U.S.A. by 47.2% during the 2nd quarter. State Street Corp now owns 5,031,124 shares of the textile maker’s stock valued at $148,423,000 after acquiring an additional 1,613,977 shares during the period. Prudential Financial Inc. lifted its stake in Skechers U.S.A. by 125.7% during the 2nd quarter. Prudential Financial Inc. now owns 2,302,352 shares of the textile maker’s stock valued at $67,919,000 after acquiring an additional 1,282,260 shares during the period. Finally, Columbus Circle Investors acquired a new stake in Skechers U.S.A. during the 2nd quarter valued at approximately $31,638,000. 70.07% of the stock is currently owned by hedge funds and other institutional investors.
Skechers U.S.A., Inc. (SKX) traded down $0.05 on Thursday, hitting $34.56. 5,716,900 shares of the company traded hands, compared to its average volume of 2,811,824. The company has a debt-to-equity ratio of 0.04, a quick ratio of 2.30 and a current ratio of 3.46. Skechers U.S.A., Inc. has a 1 year low of $21.33 and a 1 year high of $35.32. The firm has a market cap of $5,484.65, a PE ratio of 21.50, a P/E/G ratio of 1.45 and a beta of 0.11.
Skechers U.S.A. (NYSE:SKX) last posted its earnings results on Thursday, October 19th. The textile maker reported $0.59 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.43 by $0.16. Skechers U.S.A. had a net margin of 6.38% and a return on equity of 13.70%. The firm had revenue of $1.09 billion during the quarter, compared to analysts’ expectations of $1.07 billion. During the same period in the previous year, the business posted $0.42 EPS. The business’s revenue was up 16.2% compared to the same quarter last year. analysts forecast that Skechers U.S.A., Inc. will post 1.71 earnings per share for the current fiscal year.
In related news, Director Thomas Walsh sold 750 shares of the business’s stock in a transaction on Monday, November 27th. The shares were sold at an average price of $34.81, for a total value of $26,107.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, Director Jeffrey Greenberg sold 180,000 shares of the business’s stock in a transaction on Friday, October 20th. The shares were sold at an average price of $31.72, for a total transaction of $5,709,600.00. The disclosure for this sale can be found here. Over the last quarter, insiders sold 386,250 shares of company stock valued at $12,318,008. Company insiders own 38.20% of the company’s stock.
Several analysts have commented on SKX shares. Cowen set a $36.00 price objective on shares of Skechers U.S.A. and gave the company a “buy” rating in a research note on Friday, October 20th. Susquehanna Bancshares restated a “buy” rating and set a $34.00 price objective on shares of Skechers U.S.A. in a research note on Tuesday, October 10th. BidaskClub cut shares of Skechers U.S.A. from a “hold” rating to a “sell” rating in a research note on Friday, August 4th. Zacks Investment Research upgraded shares of Skechers U.S.A. from a “sell” rating to a “hold” rating and set a $38.00 price objective for the company in a research note on Monday, October 23rd. Finally, Monness Crespi & Hardt lifted their price objective on shares of Skechers U.S.A. from $33.00 to $34.00 and gave the company a “buy” rating in a research note on Friday, October 20th. Two 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. The company has an average rating of “Buy” and a consensus target price of $34.96.
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Skechers U.S.A. Profile
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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