Natixis Advisors L.P. Sells 609 Shares of Skechers U.S.A., Inc. (NYSE:SKX)

Natixis Advisors L.P. lowered its position in Skechers U.S.A., Inc. (NYSE:SKX – Free Report) by 0.8% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 71,461 shares of the textile maker’s stock after selling 609 shares during the period. Natixis Advisors L.P.’s holdings in Skechers U.S.A. were worth $3,395,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also modified their holdings of SKX. SageView Advisory Group LLC raised its position in Skechers U.S.A. by 2.8% in the 1st quarter. SageView Advisory Group LLC now owns 8,802 shares of the textile maker’s stock valued at $418,000 after purchasing an additional 242 shares during the last quarter. Cascade Investment Advisors Inc. grew its holdings in Skechers U.S.A. by 1.3% during the 1st quarter. Cascade Investment Advisors Inc. now owns 19,400 shares of the textile maker’s stock worth $922,000 after acquiring an additional 255 shares during the last quarter. Thrivent Financial for Lutherans increased its position in Skechers U.S.A. by 0.9% in the 3rd quarter. Thrivent Financial for Lutherans now owns 35,699 shares of the textile maker’s stock valued at $1,132,000 after acquiring an additional 312 shares in the last quarter. Quent Capital LLC raised its stake in shares of Skechers U.S.A. by 122.4% in the first quarter. Quent Capital LLC now owns 585 shares of the textile maker’s stock worth $28,000 after acquiring an additional 322 shares during the last quarter. Finally, Teacher Retirement System of Texas lifted its position in shares of Skechers U.S.A. by 0.7% during the fourth quarter. Teacher Retirement System of Texas now owns 50,155 shares of the textile maker’s stock worth $2,104,000 after purchasing an additional 341 shares in the last quarter. 80.54% of the stock is owned by institutional investors and hedge funds.

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Skechers U.S.A. Price Performance

NYSE SKX opened at $51.56 on Friday. Skechers U.S.A., Inc. has a 12-month low of $31.28 and a 12-month high of $56.53. The firm’s 50 day moving average is $52.27 and its 200-day moving average is $49.99. The company has a market capitalization of $7.98 billion, a PE ratio of 17.02, a price-to-earnings-growth ratio of 0.51 and a beta of 1.32. The company has a quick ratio of 1.48, a current ratio of 2.48 and a debt-to-equity ratio of 0.06.

Skechers U.S.A. (NYSE:SKX – Get Free Report) last issued its earnings results on Thursday, July 27th. The textile maker reported $0.98 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 for the quarter, compared to analysts’ expectations of $1.92 billion. During the same period in the prior year, the firm earned $0.58 EPS. Skechers U.S.A.’s quarterly revenue was up 7.7% compared to the same quarter last year. Equities research analysts anticipate that Skechers U.S.A., Inc. will post 3.38 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of brokerages recently weighed in on SKX. Deutsche Bank Aktiengesellschaft raised their price target on shares of Skechers U.S.A. from $57.00 to $62.00 and gave the company a “buy” rating in a report on Friday, July 28th. StockNews.com assumed coverage on Skechers U.S.A. in a research report on Thursday, August 17th. They set a “buy” rating for the company. TD Cowen boosted their price objective on 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 raised their target price on shares of Skechers U.S.A. from $59.00 to $62.00 and gave the company a “buy” rating in a research note on Friday, July 28th. Finally, Morgan Stanley lifted their target price on shares of Skechers U.S.A. from $48.00 to $49.00 and gave the stock an “equal weight” rating in a report on Tuesday. Two investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $58.92.

Read Our Latest Research Report on SKX

Skechers U.S.A. 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.

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