Banque Cantonale Vaudoise Buys Shares of 12,298 Skechers U.S.A., Inc. (NYSE:SKX)

Banque Cantonale Vaudoise acquired a new position in shares of Skechers U.S.A., Inc. (NYSE:SKX) in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 12,298 shares of the textile maker’s stock, valued at approximately $648,000.

A number of other hedge funds also recently made changes to their positions in SKX. American Century Companies Inc. boosted its position in shares of Skechers U.S.A. by 10.8% during the first quarter. American Century Companies Inc. now owns 16,901 shares of the textile maker’s stock valued at $689,000 after buying an additional 1,654 shares during the last quarter. US Bancorp DE boosted its holdings in shares of Skechers U.S.A. by 71.1% in the 1st quarter. US Bancorp DE now owns 2,416 shares of the textile maker’s stock worth $98,000 after purchasing an additional 1,004 shares in the last quarter. PNC Financial Services Group Inc. lifted its stake in shares of Skechers U.S.A. by 11.5% in the 1st quarter. PNC Financial Services Group Inc. now owns 6,413 shares of the textile maker’s stock valued at $260,000 after acquiring an additional 663 shares during the last quarter. Bank of Montreal Can lifted its holdings in Skechers U.S.A. by 8.6% in the 1st 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 during the period. Finally, MetLife Investment Management LLC lifted its holdings in Skechers U.S.A. by 34.4% in the 1st 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 during the period. 80.54% of the stock is currently owned by institutional investors.

Insider Activity at Skechers U.S.A.

In other Skechers U.S.A. news, Director Katherine J. Blair acquired 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, for a total transaction of $244,657.00. Following the completion of the purchase, the director now owns 15,400 shares in the company, valued at approximately $768,922. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 24.79% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

A number of research analysts recently weighed in on the company. Raymond James raised their price objective on Skechers U.S.A. from $58.00 to $59.00 and gave the company an “outperform” rating in a research report on Friday, July 28th. UBS Group lifted their target price on Skechers U.S.A. from $63.00 to $68.00 and gave the stock a “buy” rating in a report on Friday, July 28th. Wedbush reaffirmed an “outperform” rating and issued a $59.00 target price on shares of Skechers U.S.A. in a report on Thursday, August 10th. Piper Sandler raised Skechers U.S.A. from a “neutral” rating to an “overweight” rating and boosted their price objective for the stock from $54.00 to $59.00 in a research note on Monday, September 18th. Finally, Stifel Nicolaus boosted their price objective on Skechers U.S.A. from $59.00 to $62.00 and gave the stock a “buy” rating in a research note on Friday, July 28th. One analyst has rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $59.33.

Skechers U.S.A. Price Performance

Skechers U.S.A. stock opened at $52.55 on Thursday. The stock has a market cap of $8.13 billion, a P/E ratio of 15.41, a price-to-earnings-growth ratio of 0.53 and a beta of 1.37. The company has a fifty day simple moving average of $48.46 and a 200-day simple moving average of $50.90. Skechers U.S.A., Inc. has a 12-month low of $38.62 and a 12-month high of $56.53. The company has a current ratio of 2.52, a quick ratio of 1.60 and a debt-to-equity ratio of 0.06.

Skechers U.S.A. (NYSE:SKX) last released its quarterly earnings data on Thursday, October 26th. The textile maker reported $0.93 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.78 by $0.15. Skechers U.S.A. had a net margin of 6.75% and a return on equity of 13.02%. The business had revenue of $2.03 billion during the quarter, compared to analysts’ expectations of $2.03 billion. During the same period in the previous year, the company earned $0.55 EPS. The company’s revenue for the quarter was up 7.8% on a year-over-year basis. Equities analysts expect that Skechers U.S.A., Inc. will post 3.43 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 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.