Rockefeller Capital Management L.P. Cuts Stock Holdings in Skechers U.S.A., Inc. (NYSE:SKX)

Rockefeller Capital Management L.P. lessened its position in Skechers U.S.A., Inc. (NYSE:SKX) by 81.5% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 51,579 shares of the textile maker’s stock after selling 226,846 shares during the quarter. Rockefeller Capital Management L.P.’s holdings in Skechers U.S.A. were worth $3,452,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. CIBC Asset Management Inc lifted its holdings in Skechers U.S.A. by 4.7% in the 2nd quarter. CIBC Asset Management Inc now owns 3,820 shares of the textile maker’s stock valued at $264,000 after purchasing an additional 173 shares in the last quarter. Lindenwold Advisors INC raised its position in shares of Skechers U.S.A. by 3.0% in the third quarter. Lindenwold Advisors INC now owns 6,663 shares of the textile maker’s stock valued at $446,000 after buying an additional 195 shares during the last quarter. X Square Capital LLC lifted its stake in shares of Skechers U.S.A. by 0.5% in the second quarter. X Square Capital LLC now owns 40,903 shares of the textile maker’s stock worth $2,827,000 after buying an additional 215 shares in the last quarter. Covestor Ltd boosted its position in Skechers U.S.A. by 18.8% during the third quarter. Covestor Ltd now owns 1,678 shares of the textile maker’s stock worth $112,000 after acquiring an additional 265 shares during the last quarter. Finally, QRG Capital Management Inc. boosted its position in Skechers U.S.A. by 2.6% during the third quarter. QRG Capital Management Inc. now owns 11,157 shares of the textile maker’s stock worth $747,000 after acquiring an additional 284 shares during the last quarter. 79.96% of the stock is owned by institutional investors and hedge funds.

Skechers U.S.A. Trading Down 0.5 %

NYSE SKX opened at $70.28 on Friday. 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 market capitalization of $10.61 billion, a P/E ratio of 17.31, a PEG ratio of 0.96 and a beta of 1.22. The firm’s 50-day moving average is $63.65 and its two-hundred day moving average is $66.11. Skechers U.S.A., Inc. has a 12 month low of $55.67 and a 12 month high of $75.09.

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

Analyst Upgrades and Downgrades

SKX has been the subject of a number of recent research reports. TD Cowen cut their price objective on shares of Skechers U.S.A. from $78.00 to $76.00 and set a “buy” rating for the company in a report on Monday, October 14th. Deutsche Bank Aktiengesellschaft increased their price target on Skechers U.S.A. from $83.00 to $84.00 and gave the company a “buy” rating in a report on Friday, October 25th. Barclays boosted their price objective 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. StockNews.com downgraded Skechers U.S.A. from a “buy” rating to a “hold” rating in a research note on Monday, November 25th. Finally, Morgan Stanley boosted their price target on shares of Skechers U.S.A. from $81.00 to $84.00 and gave the company an “overweight” rating in a research report on Friday, October 25th. Two analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $78.09.

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.