SageView Advisory Group LLC Acquires 3,035 Shares of Skechers U.S.A., Inc. (NYSE:SKX)

SageView Advisory Group LLC increased its stake in Skechers U.S.A., Inc. (NYSE:SKX) by 58.0% in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 8,272 shares of the textile maker’s stock after acquiring an additional 3,035 shares during the quarter. SageView Advisory Group LLC’s holdings in Skechers U.S.A. were worth $554,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of SKX. UMB Bank n.a. grew its holdings in Skechers U.S.A. by 423.3% in the third quarter. UMB Bank n.a. now owns 450 shares of the textile maker’s stock worth $30,000 after purchasing an additional 364 shares during the period. Venturi Wealth Management LLC boosted its position in shares of Skechers U.S.A. by 52.9% during the 3rd quarter. Venturi Wealth Management LLC now owns 864 shares of the textile maker’s stock worth $58,000 after purchasing an additional 299 shares in the last quarter. Brooklyn Investment Group acquired a new stake in shares of Skechers U.S.A. in the 3rd quarter valued at about $67,000. 1620 Investment Advisors Inc. bought a new stake in Skechers U.S.A. in the 2nd quarter valued at about $69,000. Finally, Blue Trust Inc. increased its position in Skechers U.S.A. by 778.1% in the 3rd quarter. Blue Trust Inc. now owns 1,001 shares of the textile maker’s stock valued at $69,000 after buying an additional 887 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 commented on the company. Bank of America reduced 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 note on Friday, October 25th. Deutsche Bank Aktiengesellschaft boosted their price target on shares of Skechers U.S.A. from $83.00 to $84.00 and gave the company a “buy” rating in a research note on Friday, October 25th. Morgan Stanley raised their price objective on shares of Skechers U.S.A. from $81.00 to $84.00 and gave the company an “overweight” rating in a research note on Friday, October 25th. StockNews.com cut shares of Skechers U.S.A. from a “buy” rating to a “hold” rating in a report on Monday, November 25th. Finally, Needham & Company LLC assumed coverage on shares of Skechers U.S.A. in a report on Friday, November 22nd. They issued a “hold” rating on the stock. Two investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. According to MarketBeat, the stock 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 SKX stock opened at $71.08 on Friday. The company has a debt-to-equity ratio of 0.01, a quick ratio of 1.25 and a current ratio of 1.96. The company has a market capitalization of $10.73 billion, a price-to-earnings ratio of 17.51, a PEG ratio of 0.98 and a beta of 1.22. Skechers U.S.A., Inc. has a 52-week low of $55.67 and a 52-week high of $75.09. The company has a 50-day simple moving average of $63.70 and a two-hundred day simple moving average of $66.13.

Skechers U.S.A. (NYSE:SKX) last released its earnings results on Thursday, October 24th. The textile maker reported $1.26 earnings per share (EPS) for the quarter, beating the consensus estimate 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 return on equity of 13.71% and a net margin of 7.19%. Skechers U.S.A.’s quarterly revenue was up 16.0% on a year-over-year basis. During the same period in the prior year, the company posted $0.93 earnings per share. Research analysts anticipate that Skechers U.S.A., Inc. will post 4.25 EPS for the current fiscal year.

About Skechers U.S.A.

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.