State Street Corp Has $307.37 Million Holdings in Skechers U.S.A., Inc. (NYSE:SKX)

State Street Corp trimmed its position in shares of Skechers U.S.A., Inc. (NYSE:SKX) by 0.4% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 4,593,108 shares of the textile maker’s stock after selling 18,238 shares during the quarter. State Street Corp owned approximately 3.04% of Skechers U.S.A. worth $307,371,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also made changes to their positions in SKX. Pacer Advisors Inc. increased its position in Skechers U.S.A. by 5,780.6% during the third quarter. Pacer Advisors Inc. now owns 2,639,390 shares of the textile maker’s stock worth $176,628,000 after buying an additional 2,594,507 shares during the last quarter. Dimensional Fund Advisors LP increased its holdings in shares of Skechers U.S.A. by 3.0% during the 2nd quarter. Dimensional Fund Advisors LP now owns 1,885,723 shares of the textile maker’s stock valued at $130,350,000 after acquiring an additional 55,095 shares during the last quarter. Charles Schwab Investment Management Inc. increased its holdings in shares of Skechers U.S.A. by 1.3% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,316,882 shares of the textile maker’s stock valued at $88,126,000 after acquiring an additional 17,429 shares during the last quarter. Loomis Sayles & Co. L P lifted its holdings in Skechers U.S.A. by 7.1% in the 3rd quarter. Loomis Sayles & Co. L P now owns 752,067 shares of the textile maker’s stock worth $50,328,000 after purchasing an additional 49,734 shares during the last quarter. Finally, Coronation Fund Managers Ltd. boosted its position in Skechers U.S.A. by 378.6% during the third quarter. Coronation Fund Managers Ltd. now owns 498,837 shares of the textile maker’s stock worth $33,382,000 after purchasing an additional 394,618 shares during the period. Institutional investors own 79.96% of the company’s stock.

Skechers U.S.A. Stock Down 2.3 %

Shares of SKX stock opened at $70.37 on Wednesday. The stock has a market cap of $10.62 billion, a P/E ratio of 17.33, a price-to-earnings-growth ratio of 0.99 and a beta of 1.22. The company has a debt-to-equity ratio of 0.01, a current ratio of 1.96 and a quick ratio of 1.25. The stock has a fifty day moving average price of $63.81 and a 200 day moving average price of $66.13. Skechers U.S.A., Inc. has a one year low of $55.67 and a one year high of $75.09.

Skechers U.S.A. (NYSE:SKX) last issued its earnings results on Thursday, October 24th. The textile maker reported $1.26 earnings per share for the quarter, beating the consensus estimate of $1.15 by $0.11. Skechers U.S.A. had a net margin of 7.19% and a return on equity of 13.71%. The business had revenue of $2.35 billion for the quarter, compared to analyst estimates of $2.31 billion. During the same period in the previous year, the business earned $0.93 EPS. The firm’s revenue was up 16.0% on a year-over-year basis. Analysts predict that Skechers U.S.A., Inc. will post 4.25 earnings per share for the current year.

Wall Street Analysts Forecast Growth

SKX has been the topic of a number of recent analyst reports. StockNews.com lowered shares of Skechers U.S.A. from a “buy” rating to a “hold” rating in a research report on Monday, November 25th. Bank of America dropped their target price on shares of Skechers U.S.A. from $81.00 to $80.00 and set a “buy” rating on the stock in a report on Friday, October 25th. Needham & Company LLC began coverage on shares of Skechers U.S.A. in a report on Friday, November 22nd. They set a “hold” rating for the company. Morgan Stanley lifted their price objective on Skechers U.S.A. from $81.00 to $84.00 and gave the stock an “overweight” rating in a research note on Friday, October 25th. Finally, Piper Sandler assumed coverage on Skechers U.S.A. in a research note on Tuesday. They set a “neutral” rating and a $65.00 target price for the company. Three investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. According to MarketBeat, Skechers U.S.A. has a consensus rating of “Moderate Buy” and a consensus target price of $77.00.

Skechers U.S.A. Company Profile

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.