Skechers U.S.A., Inc. (NYSE:SKX) Shares Sold by Swiss National Bank

Swiss National Bank cut its stake in Skechers U.S.A., Inc. (NYSE:SKX) by 3.3% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 258,600 shares of the textile maker’s stock after selling 8,800 shares during the period. Swiss National Bank owned approximately 0.17% of Skechers U.S.A. worth $17,306,000 at the end of the most recent reporting period.

Other hedge funds have also made changes to their positions in the company. Bessemer Group Inc. increased its position in shares of Skechers U.S.A. by 66.7% during the 1st quarter. Bessemer Group Inc. now owns 410 shares of the textile maker’s stock valued at $25,000 after purchasing an additional 164 shares during the period. Healthcare of Ontario Pension Plan Trust Fund acquired a new position in shares of Skechers U.S.A. in the 1st quarter worth approximately $206,000. LRI Investments LLC bought a new stake in shares of Skechers U.S.A. in the 1st quarter worth approximately $102,000. Magnetar Financial LLC acquired a new stake in Skechers U.S.A. during the first quarter valued at approximately $3,203,000. Finally, Paloma Partners Management Co boosted its holdings in Skechers U.S.A. by 300.0% during the first quarter. Paloma Partners Management Co now owns 20,000 shares of the textile maker’s stock worth $1,225,000 after buying an additional 15,000 shares in the last quarter. Institutional investors and hedge funds own 79.96% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on SKX shares. Bank of America cut their price objective on Skechers U.S.A. from $81.00 to $80.00 and set a “buy” rating for the company in a research report on Friday, October 25th. Evercore ISI upped their target price on Skechers U.S.A. from $68.00 to $72.00 and gave the company an “outperform” rating in a report on Friday, July 26th. Barclays increased their price target on Skechers U.S.A. from $79.00 to $80.00 and gave the company an “overweight” rating in a research report on Friday, October 25th. Stifel Nicolaus boosted their price objective on Skechers U.S.A. from $81.00 to $83.00 and gave the stock a “buy” rating in a report on Friday, July 26th. Finally, Morgan Stanley lifted their target price on shares of Skechers U.S.A. from $81.00 to $84.00 and gave the stock an “overweight” rating in a research report on Friday, October 25th. One equities research analyst has rated the stock with a hold rating and twelve have issued a buy rating to the company. According to MarketBeat, Skechers U.S.A. presently has an average rating of “Moderate Buy” and a consensus target price of $78.09.

Skechers U.S.A. Trading Up 1.1 %

Shares of NYSE:SKX opened at $61.69 on Friday. The firm has a fifty day moving average of $63.61 and a two-hundred day moving average of $66.24. The firm has a market capitalization of $9.31 billion, a P/E ratio of 15.19, a price-to-earnings-growth ratio of 0.84 and a beta of 1.23. Skechers U.S.A., Inc. has a 12-month low of $54.95 and a 12-month high of $75.09. The company has a quick ratio of 1.25, a current ratio of 1.96 and a debt-to-equity ratio of 0.01.

Skechers U.S.A. (NYSE:SKX) last issued its earnings results on Thursday, October 24th. The textile maker reported $1.26 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.15 by $0.11. The company had revenue of $2.35 billion during the quarter, compared to analyst estimates of $2.31 billion. Skechers U.S.A. had a net margin of 7.19% and a return on equity of 13.71%. The company’s revenue for the quarter was up 16.0% on a year-over-year basis. During the same quarter last year, the business posted $0.93 EPS. On average, equities analysts expect that Skechers U.S.A., Inc. will post 4.25 EPS for the current fiscal year.

Skechers U.S.A. 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.