Treasurer of the State of North Carolina Purchases 10,830 Shares of Skechers U.S.A., Inc. (NYSE:SKX)

Posted by Defense World Staff on Aug 8th, 2023

Treasurer of the State of North Carolina grew its position in shares of Skechers U.S.A., Inc. (NYSE:SKX – Free Report) by 18.6% during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 68,900 shares of the textile maker’s stock after buying an additional 10,830 shares during the quarter. Treasurer of the State of North Carolina’s holdings in Skechers U.S.A. were worth $3,274,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently modified their holdings of the company. State Street Corp lifted its position in shares of Skechers U.S.A. by 3.4% during the 3rd quarter. State Street Corp now owns 4,778,584 shares of the textile maker’s stock worth $151,577,000 after buying an additional 157,862 shares in the last quarter. Dimensional Fund Advisors LP raised its holdings in shares of Skechers U.S.A. by 22.8% in the 4th quarter. Dimensional Fund Advisors LP now owns 3,622,033 shares of the textile maker’s stock worth $151,942,000 after purchasing an additional 672,683 shares during the period. Fiduciary Management Inc. WI raised its holdings in shares of Skechers U.S.A. by 18.9% in the 4th quarter. Fiduciary Management Inc. WI now owns 2,945,756 shares of the textile maker’s stock worth $123,574,000 after purchasing an additional 468,241 shares during the period. Price T Rowe Associates Inc. MD raised its holdings in shares of Skechers U.S.A. by 6.3% in the 2nd quarter. Price T Rowe Associates Inc. MD now owns 2,784,301 shares of the textile maker’s stock worth $99,065,000 after purchasing an additional 165,147 shares during the period. Finally, Capital Research Global Investors raised its holdings in shares of Skechers U.S.A. by 4.8% in the 1st quarter. Capital Research Global Investors now owns 2,200,000 shares of the textile maker’s stock worth $89,672,000 after purchasing an additional 100,000 shares during the period. Institutional investors own 80.21% of the company’s stock.

Skechers U.S.A. Stock Up 0.2 %

SKX opened at $54.28 on Tuesday. The company has a fifty day moving average price of $52.50 and a 200-day moving average price of $49.35. The firm has a market capitalization of $8.40 billion, a P/E ratio of 17.91, a price-to-earnings-growth ratio of 0.57 and a beta of 1.32. The company has a debt-to-equity ratio of 0.06, a current ratio of 2.48 and a quick ratio of 1.48. Skechers U.S.A., Inc. has a one year low of $31.28 and a one year high of $56.53.

Skechers U.S.A. (NYSE:SKX – Get Free Report) last announced its earnings results on Thursday, July 27th. The textile maker reported $0.98 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.52 by $0.46. Skechers U.S.A. had a net margin of 6.11% and a return on equity of 11.97%. The company had revenue of $2.01 billion during the quarter, compared to analyst estimates of $1.92 billion. During the same period in the previous year, the business earned $0.58 earnings per share. The firm’s quarterly revenue was up 7.7% compared to the same quarter last year. Equities research analysts expect that Skechers U.S.A., Inc. will post 3.39 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of equities research analysts recently commented on the stock. Morgan Stanley lifted their price target on shares of Skechers U.S.A. from $46.00 to $48.00 in a report on Friday, April 28th. TD Cowen lifted their price target on shares of Skechers U.S.A. from $65.00 to $67.00 and gave the stock an “outperform” rating in a report on Friday, July 28th. Stifel Nicolaus lifted their price target on shares of Skechers U.S.A. from $59.00 to $62.00 and gave the stock a “buy” rating in a report on Friday, July 28th. StockNews.com initiated coverage on shares of Skechers U.S.A. in a report on Thursday, May 18th. They set a “buy” rating on the stock. Finally, Piper Sandler boosted their target price on shares of Skechers U.S.A. from $52.00 to $54.00 and gave the company a “neutral” rating in a report on Friday, July 28th. Two analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $58.83.

Get Our Latest Stock Analysis on SKX

Skechers U.S.A. Company Profile

(Free Report)

Skechers U.SA, Inc designs, develops, markets, and distributes footwear for men, women, and children worldwide. The company operates through two segments, Wholesale and Direct-to-Consumer. It offers casual, casual athletic, sport athletic, trail, sandals, boots, and retro fashion footwear for men and women under the Skechers USA, Skechers Sport, Skechers Active, Modern Comfort, Skechers Street, Foamies, Mark Nason, and BOBS brands; sneakers, casuals, boots, and sandals for boys and girls under the S-Lights, Skech-Air, Foamies, Twinkle Toes, Skechers Stretch Fit, and Skechers Street brands; and technical footwear under the Skechers GOrun, Skechers GOwalk, Skechers GOtrain, Skechers GOtrail, and Skechers GO Golf brands, as well as Skechers Viper Court for pickleball.