Thrivent Financial for Lutherans Sells 4,169 Shares of Skechers U.S.A., Inc. (NYSE:SKX)

Thrivent Financial for Lutherans lowered its position in shares of Skechers U.S.A., Inc. (NYSE:SKX) by 11.8% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 31,139 shares of the textile maker’s stock after selling 4,169 shares during the period. Thrivent Financial for Lutherans’ holdings in Skechers U.S.A. were worth $2,084,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds also recently added to or reduced their stakes in SKX. Dimensional Fund Advisors LP increased its holdings in shares of Skechers U.S.A. by 3.0% in the 2nd quarter. Dimensional Fund Advisors LP now owns 1,885,723 shares of the textile maker’s stock worth $130,350,000 after purchasing an additional 55,095 shares in the last quarter. Coronation Fund Managers Ltd. boosted its position in shares of 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 valued at $33,382,000 after buying an additional 394,618 shares during the last quarter. American Century Companies Inc. increased its holdings in Skechers U.S.A. by 38.6% in the 2nd quarter. American Century Companies Inc. now owns 330,769 shares of the textile maker’s stock worth $22,863,000 after buying an additional 92,093 shares in the last quarter. Acadian Asset Management LLC purchased a new position in Skechers U.S.A. in the 2nd quarter worth about $22,425,000. Finally, Teachers Retirement System of The State of Kentucky raised its position in Skechers U.S.A. by 646.3% in the 2nd quarter. Teachers Retirement System of The State of Kentucky now owns 323,321 shares of the textile maker’s stock worth $22,348,000 after buying an additional 280,000 shares during the last quarter. 79.96% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on SKX. TD Cowen dropped their price target on shares of Skechers U.S.A. from $78.00 to $76.00 and set a “buy” rating on the stock in a report on Monday, October 14th. 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. Morgan Stanley boosted their target price 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. Barclays raised their price target on Skechers U.S.A. from $79.00 to $80.00 and gave the stock an “overweight” rating in a research note on Friday, October 25th. Finally, Needham & Company LLC began coverage on Skechers U.S.A. in a research report on Friday, November 22nd. They set a “hold” rating for the company. Two equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $78.09.

Skechers U.S.A. Price Performance

NYSE SKX opened at $63.71 on Friday. Skechers U.S.A., Inc. has a 12 month low of $55.67 and a 12 month high of $75.09. The company has a current ratio of 1.96, a quick ratio of 1.25 and a debt-to-equity ratio of 0.01. The stock has a market cap of $9.62 billion, a price-to-earnings ratio of 15.69, a PEG ratio of 0.88 and a beta of 1.23. The company’s 50 day moving average is $63.38 and its two-hundred day moving average is $66.14.

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

Skechers U.S.A. 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.