Janney Capital Management LLC Acquires 233 Shares of Skechers U.S.A., Inc. (NYSE:SKX)

Janney Capital Management LLC lifted its position in Skechers U.S.A., Inc. (NYSE:SKXFree Report) by 2.8% in the third quarter, according to its most recent Form 13F filing with the SEC. The firm owned 8,646 shares of the textile maker’s stock after purchasing an additional 233 shares during the period. Janney Capital Management LLC’s holdings in Skechers U.S.A. were worth $423,000 at the end of the most recent quarter.

A number of other large investors have also recently modified their holdings of SKX. American Century Companies Inc. boosted its holdings in shares of Skechers U.S.A. by 10.8% in the first quarter. American Century Companies Inc. now owns 16,901 shares of the textile maker’s stock valued at $689,000 after purchasing an additional 1,654 shares during the period. US Bancorp DE boosted its holdings in shares of Skechers U.S.A. by 71.1% in the first quarter. US Bancorp DE now owns 2,416 shares of the textile maker’s stock valued at $98,000 after purchasing an additional 1,004 shares during the period. PNC Financial Services Group Inc. raised its stake in Skechers U.S.A. by 11.5% in the first quarter. PNC Financial Services Group Inc. now owns 6,413 shares of the textile maker’s stock worth $260,000 after buying an additional 663 shares in the last quarter. Bank of Montreal Can raised its stake in Skechers U.S.A. by 8.6% in the first quarter. Bank of Montreal Can now owns 12,534 shares of the textile maker’s stock worth $519,000 after buying an additional 990 shares in the last quarter. Finally, MetLife Investment Management LLC raised its stake in Skechers U.S.A. by 34.4% in the first quarter. MetLife Investment Management LLC now owns 87,839 shares of the textile maker’s stock worth $3,580,000 after buying an additional 22,464 shares in the last quarter. Hedge funds and other institutional investors own 80.54% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on SKX shares. Monness Crespi & Hardt upped their price target on Skechers U.S.A. from $60.00 to $72.00 and gave the stock a “buy” rating in a research report on Thursday, January 18th. Stifel Nicolaus reduced their price target on Skechers U.S.A. from $72.00 to $70.00 and set a “buy” rating on the stock in a research report on Friday. Raymond James dropped their price objective on shares of Skechers U.S.A. from $68.00 to $66.00 and set an “outperform” rating on the stock in a report on Monday. Finally, Wedbush lowered their price target on shares of Skechers U.S.A. from $75.00 to $68.00 and set an “outperform” rating on the stock in a report on Friday. One investment analyst has rated the stock with a hold rating and nine have issued a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $64.56.

Read Our Latest Stock Report on Skechers U.S.A.

Skechers U.S.A. Stock Up 1.4 %

SKX stock opened at $57.82 on Monday. Skechers U.S.A., Inc. has a 52 week low of $41.56 and a 52 week high of $65.17. The company has a market cap of $8.90 billion, a P/E ratio of 16.34 and a beta of 1.36. The company has a current ratio of 2.38, a quick ratio of 1.46 and a debt-to-equity ratio of 0.06. The company’s 50-day moving average price is $61.73 and its 200 day moving average price is $54.32.

Skechers U.S.A. (NYSE:SKXGet Free Report) last issued its quarterly earnings results on Thursday, February 1st. The textile maker reported $0.56 EPS for the quarter, topping the consensus estimate of $0.52 by $0.04. Skechers U.S.A. had a net margin of 6.82% and a return on equity of 12.89%. The firm had revenue of $1.96 billion during the quarter, compared to analyst estimates of $2.03 billion. During the same quarter in the prior year, the business posted $0.48 earnings per share. Skechers U.S.A.’s revenue for the quarter was up 4.4% compared to the same quarter last year. On average, research analysts expect that Skechers U.S.A., Inc. will post 3.8 earnings per share for the current fiscal year.

Insider Activity

In other Skechers U.S.A. news, Director Katherine J. Blair bought 4,900 shares of the company’s stock in a transaction on Friday, November 10th. The shares were bought at an average cost of $49.93 per share, with a total value of $244,657.00. Following the completion of the acquisition, the director now owns 15,400 shares of the company’s stock, valued at $768,922. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, General Counsel Phillip Paccione sold 581 shares of Skechers U.S.A. stock in a transaction that occurred on Thursday, November 30th. The shares were sold at an average price of $58.75, for a total value of $34,133.75. Following the transaction, the general counsel now directly owns 40,000 shares of the company’s stock, valued at $2,350,000. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Katherine J. Blair bought 4,900 shares of the company’s stock in a transaction dated Friday, November 10th. The stock was purchased at an average cost of $49.93 per share, for a total transaction of $244,657.00. Following the completion of the transaction, the director now owns 15,400 shares of the company’s stock, valued at $768,922. The disclosure for this purchase can be found here. Over the last three months, insiders sold 216,186 shares of company stock worth $12,764,321. 24.79% of the stock is currently owned by company insiders.

About Skechers U.S.A.

(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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Institutional Ownership by Quarter for Skechers U.S.A. (NYSE:SKX)

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