Citigroup Inc. Increases Holdings in Skechers U.S.A., Inc. (NYSE:SKX)

Citigroup Inc. increased its stake in Skechers U.S.A., Inc. (NYSE:SKX) by 0.1% during the third quarter, according to its most recent filing with the SEC. The fund owned 128,637 shares of the textile maker’s stock after buying an additional 171 shares during the quarter. Citigroup Inc. owned 0.09% of Skechers U.S.A. worth $8,608,000 at the end of the most recent quarter.

Several other institutional investors also recently added to or reduced their stakes in the stock. Pacer Advisors Inc. boosted its stake in Skechers U.S.A. by 5,780.6% in the third quarter. Pacer Advisors Inc. now owns 2,639,390 shares of the textile maker’s stock valued at $176,628,000 after acquiring an additional 2,594,507 shares during the last quarter. Dimensional Fund Advisors LP lifted its stake in Skechers U.S.A. by 3.0% in the second quarter. Dimensional Fund Advisors LP now owns 1,885,723 shares of the textile maker’s stock valued at $130,350,000 after purchasing an additional 55,095 shares during the last quarter. Charles Schwab Investment Management Inc. grew its holdings in Skechers U.S.A. by 1.3% during the third quarter. Charles Schwab Investment Management Inc. now owns 1,316,882 shares of the textile maker’s stock valued at $88,126,000 after purchasing an additional 17,429 shares during the period. Coronation Fund Managers Ltd. increased its position in Skechers U.S.A. by 378.6% in the third quarter. Coronation Fund Managers Ltd. now owns 498,837 shares of the textile maker’s stock worth $33,382,000 after buying an additional 394,618 shares during the last quarter. Finally, Commerce Bank raised its stake in shares of Skechers U.S.A. by 949.5% in the third quarter. Commerce Bank now owns 467,774 shares of the textile maker’s stock valued at $31,303,000 after buying an additional 423,204 shares during the period. Institutional investors own 79.96% of the company’s stock.

Skechers U.S.A. Trading Up 0.3 %

Shares of SKX stock opened at $63.89 on Friday. The company has a market capitalization of $9.65 billion, a PE ratio of 15.74, a price-to-earnings-growth ratio of 0.88 and a beta of 1.23. Skechers U.S.A., Inc. has a 52-week low of $55.67 and a 52-week high of $75.09. The business’s fifty day moving average is $63.39 and its 200 day moving average is $66.11. The company has a debt-to-equity ratio of 0.01, a quick ratio of 1.25 and a current ratio of 1.96.

Skechers U.S.A. (NYSE:SKX) last released its quarterly 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 return on equity of 13.71% and a net margin of 7.19%. The firm had revenue of $2.35 billion for the quarter, compared to analysts’ expectations of $2.31 billion. During the same quarter last year, the firm posted $0.93 EPS. The company’s revenue was up 16.0% compared to the same quarter last year. On average, equities research analysts anticipate that Skechers U.S.A., Inc. will post 4.25 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

SKX has been the subject of several research reports. Deutsche Bank Aktiengesellschaft increased their price target on Skechers U.S.A. from $83.00 to $84.00 and gave the stock a “buy” rating in a research note on Friday, October 25th. Barclays lifted their target price on shares of 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. 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. Morgan Stanley raised their price objective on shares of Skechers U.S.A. from $81.00 to $84.00 and gave the stock an “overweight” rating in a report on Friday, October 25th. Finally, Bank of America lowered 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. Two research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $78.09.

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.