Principal Financial Group Inc. raised its position in Skechers U.S.A., Inc. (NYSE:SKX – Free Report) by 0.8% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 531,344 shares of the textile maker’s stock after purchasing an additional 4,386 shares during the quarter. Principal Financial Group Inc.’s holdings in Skechers U.S.A. were worth $25,249,000 at the end of the most recent quarter.
Other large investors also recently modified their holdings of the company. Quent Capital LLC raised its holdings in shares of Skechers U.S.A. by 122.4% in the 1st quarter. Quent Capital LLC now owns 585 shares of the textile maker’s stock worth $28,000 after purchasing an additional 322 shares during the period. Spire Wealth Management raised its holdings in shares of Skechers U.S.A. by 133.6% in the 1st quarter. Spire Wealth Management now owns 785 shares of the textile maker’s stock worth $37,000 after purchasing an additional 449 shares during the period. Covestor Ltd raised its holdings in shares of Skechers U.S.A. by 88.9% in the 1st quarter. Covestor Ltd now owns 1,360 shares of the textile maker’s stock worth $55,000 after purchasing an additional 640 shares during the period. Quadrant Capital Group LLC raised its holdings in shares of Skechers U.S.A. by 338.0% in the 4th quarter. Quadrant Capital Group LLC now owns 1,568 shares of the textile maker’s stock worth $66,000 after purchasing an additional 1,210 shares during the period. Finally, Compass Wealth Management LLC purchased a new position in shares of Skechers U.S.A. in the 4th quarter worth about $72,000. 80.21% of the stock is currently owned by hedge funds and other institutional investors.
Wall Street Analyst Weigh In
A number of equities analysts have recently commented on the company. Morgan Stanley raised their price objective on Skechers U.S.A. from $46.00 to $48.00 in a report on Friday, April 28th. Piper Sandler raised their target price on Skechers U.S.A. from $52.00 to $54.00 and gave the company a “neutral” rating in a report on Friday, July 28th. StockNews.com started coverage on Skechers U.S.A. in a report on Thursday, August 17th. They set a “buy” rating on the stock. Stifel Nicolaus raised their target price on Skechers U.S.A. from $59.00 to $62.00 and gave the company a “buy” rating in a report on Friday, July 28th. Finally, Wedbush restated an “outperform” rating and set a $59.00 price objective on shares of Skechers U.S.A. in a report on Thursday, August 10th. Two analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $58.83.
Skechers U.S.A. Price Performance
Shares of SKX opened at $50.15 on Wednesday. The firm has a market cap of $7.76 billion, a price-to-earnings ratio of 16.55, a PEG ratio of 0.54 and a beta of 1.32. The stock has a 50 day moving average of $52.59 and a 200-day moving average of $49.77. The company has a current ratio of 2.48, a quick ratio of 1.48 and a debt-to-equity ratio of 0.06. Skechers U.S.A., Inc. has a 52 week low of $31.28 and a 52 week high of $56.53.
Skechers U.S.A. (NYSE:SKX – Get Free Report) last issued its earnings results on Thursday, July 27th. The textile maker reported $0.98 EPS for the quarter, topping the consensus estimate of $0.52 by $0.46. The company had revenue of $2.01 billion during the quarter, compared to analyst estimates of $1.92 billion. Skechers U.S.A. had a return on equity of 11.97% and a net margin of 6.11%. The business’s revenue was up 7.7% on a year-over-year basis. During the same quarter last year, the firm earned $0.58 EPS. As a group, analysts forecast that Skechers U.S.A., Inc. will post 3.38 EPS for the current 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 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.
Featured Stories
- Five stocks we like better than Skechers U.S.A.
- Stock Sentiment Analysis: How it Works
- 5 Best Fintech Banks to Invest in Now
- What Are Utility Stocks? An Overview of the Utilities Sector
- 3 Smart AI ETFs For Intelligent Passive Investing Needs
- How to Invest in Blockchain Stocks Step by Step
- 4 Reasons Zoom Video is Ready to Rock Into a Reversal
Want to see what other hedge funds are holding SKX? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Skechers U.S.A., Inc. (NYSE:SKX – Free Report).
Receive News & Ratings for Skechers U.S.A. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Skechers U.S.A. and related companies with MarketBeat.com's FREE daily email newsletter.
