Mutual of America Capital Management LLC Sells 2,978 Shares of Skechers U.S.A., Inc. (NYSE:SKX)

Mutual of America Capital Management LLC lessened its position in shares of Skechers U.S.A., Inc. (NYSE:SKXFree Report) by 3.6% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 79,600 shares of the textile maker’s stock after selling 2,978 shares during the period. Mutual of America Capital Management LLC’s holdings in Skechers U.S.A. were worth $4,876,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Wells Fargo & Company MN lifted its holdings in shares of Skechers U.S.A. by 50.4% during the fourth quarter. Wells Fargo & Company MN now owns 157,416 shares of the textile maker’s stock worth $9,813,000 after buying an additional 52,754 shares in the last quarter. Raymond James & Associates increased its holdings in shares of Skechers U.S.A. by 354.5% during the fourth quarter. Raymond James & Associates now owns 52,280 shares of the textile maker’s stock worth $3,259,000 after purchasing an additional 40,778 shares during the period. Quantedge Capital Pte Ltd acquired a new stake in shares of Skechers U.S.A. in the fourth quarter valued at approximately $948,000. Cim LLC bought a new stake in shares of Skechers U.S.A. in the fourth quarter valued at approximately $1,126,000. Finally, KBC Group NV grew its position in Skechers U.S.A. by 22.4% during the fourth quarter. KBC Group NV now owns 241,079 shares of the textile maker’s stock worth $15,029,000 after buying an additional 44,086 shares in the last quarter. Institutional investors and hedge funds own 79.96% of the company’s stock.

Insider Activity

In other Skechers U.S.A. news, General Counsel Phillip Paccione sold 423 shares of the company’s stock in a transaction on Tuesday, June 4th. The shares were sold at an average price of $69.45, for a total transaction of $29,377.35. Following the sale, the general counsel now owns 35,000 shares of the company’s stock, valued at $2,430,750. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 24.75% of the company’s stock.

Skechers U.S.A. Price Performance

SKX stock opened at $67.32 on Wednesday. The company has a debt-to-equity ratio of 0.02, a quick ratio of 1.56 and a current ratio of 2.39. Skechers U.S.A., Inc. has a 52-week low of $45.58 and a 52-week high of $75.09. The company has a market capitalization of $10.27 billion, a P/E ratio of 17.72, a PEG ratio of 0.97 and a beta of 1.25. The company has a fifty day moving average price of $69.69 and a 200-day moving average price of $63.84.

Skechers U.S.A. (NYSE:SKXGet Free Report) last released its quarterly earnings results on Thursday, April 25th. The textile maker reported $1.33 EPS for the quarter, beating analysts’ consensus estimates of $1.10 by $0.23. Skechers U.S.A. had a return on equity of 13.56% and a net margin of 7.17%. The firm had revenue of $2.25 billion for the quarter, compared to analyst estimates of $2.20 billion. During the same quarter in the previous year, the company posted $1.02 EPS. The business’s revenue was up 12.5% on a year-over-year basis. As a group, equities analysts expect that Skechers U.S.A., Inc. will post 4.08 EPS for the current year.

Analysts Set New Price Targets

SKX has been the subject of a number of recent analyst reports. Evercore ISI cut their target price on Skechers U.S.A. from $73.00 to $68.00 and set an “outperform” rating for the company in a research report on Wednesday, April 17th. Wells Fargo & Company began coverage on shares of Skechers U.S.A. in a report on Wednesday, June 12th. They set an “overweight” rating and a $83.00 price target for the company. Wedbush restated an “outperform” rating and set a $76.00 price objective on shares of Skechers U.S.A. in a research report on Friday, May 17th. Stifel Nicolaus lifted their price target on Skechers U.S.A. from $74.00 to $81.00 and gave the company a “buy” rating in a research note on Tuesday, May 28th. Finally, Deutsche Bank Aktiengesellschaft restated a “buy” rating and set a $82.00 price objective on shares of Skechers U.S.A. in a research report on Thursday, June 13th. One equities research analyst has rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. Based on data from MarketBeat, Skechers U.S.A. currently has an average rating of “Moderate Buy” and a consensus target price of $72.00.

Check Out Our Latest Analysis on SKX

Skechers U.S.A. Company Profile

(Free Report)

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.

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

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