Kapitalo Investimentos Ltda Has $88,000 Stock Position in Skechers U.S.A., Inc. (NYSE:SKX)

Kapitalo Investimentos Ltda cut its stake in shares of Skechers U.S.A., Inc. (NYSE:SKX) by 91.7% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 1,409 shares of the textile maker’s stock after selling 15,518 shares during the period. Kapitalo Investimentos Ltda’s holdings in Skechers U.S.A. were worth $88,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of the stock. Janney Montgomery Scott LLC boosted its stake in Skechers U.S.A. by 13.0% in the 3rd quarter. Janney Montgomery Scott LLC now owns 20,791 shares of the textile maker’s stock valued at $1,018,000 after purchasing an additional 2,384 shares during the period. DekaBank Deutsche Girozentrale bought a new stake in shares of Skechers U.S.A. in the third quarter valued at about $31,000. PNC Financial Services Group Inc. grew its stake in shares of Skechers U.S.A. by 7.9% in the third quarter. PNC Financial Services Group Inc. now owns 5,225 shares of the textile maker’s stock valued at $256,000 after acquiring an additional 381 shares in the last quarter. Envestnet Portfolio Solutions Inc. bought a new position in Skechers U.S.A. during the third quarter worth about $219,000. Finally, Envestnet Asset Management Inc. raised its stake in Skechers U.S.A. by 56.8% in the 3rd quarter. Envestnet Asset Management Inc. now owns 96,433 shares of the textile maker’s stock worth $4,720,000 after purchasing an additional 34,926 shares in the last quarter. 79.96% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research analysts have recently commented on the stock. Stifel Nicolaus raised their target price on shares of Skechers U.S.A. from $74.00 to $81.00 and gave the stock a “buy” rating in a report on Tuesday, May 28th. Deutsche Bank Aktiengesellschaft restated a “buy” rating and set a $82.00 price objective on shares of Skechers U.S.A. in a research note on Thursday, June 13th. TD Cowen upped their target price on Skechers U.S.A. from $70.00 to $74.00 and gave the company a “buy” rating in a research report on Wednesday, March 6th. Wells Fargo & Company began coverage on Skechers U.S.A. in a research report on Wednesday, June 12th. They issued an “overweight” rating and a $83.00 price target on the stock. Finally, Wedbush reaffirmed 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. One analyst has rated the stock with a hold rating and thirteen have assigned a buy rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $72.00.

Insider Activity at Skechers U.S.A.

In other Skechers U.S.A. news, General Counsel Phillip Paccione sold 423 shares of Skechers U.S.A. stock in a transaction dated Tuesday, June 4th. The stock was sold at an average price of $69.45, for a total transaction of $29,377.35. Following the transaction, the general counsel now directly owns 35,000 shares of the company’s stock, valued at approximately $2,430,750. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 24.75% of the stock is currently owned by company insiders.

Skechers U.S.A. Stock Up 0.4 %

Shares of NYSE:SKX opened at $73.16 on Thursday. The company has a debt-to-equity ratio of 0.02, a quick ratio of 1.56 and a current ratio of 2.39. The company has a market capitalization of $11.16 billion, a PE ratio of 19.25, a price-to-earnings-growth ratio of 1.05 and a beta of 1.28. 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 fifty day moving average of $66.82 and a 200-day moving average of $63.02.

Skechers U.S.A. (NYSE:SKX) last released its quarterly earnings data on Thursday, April 25th. The textile maker reported $1.33 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.10 by $0.23. The company had revenue of $2.25 billion during the quarter, compared to the consensus estimate of $2.20 billion. Skechers U.S.A. had a return on equity of 13.56% and a net margin of 7.17%. The firm’s revenue was up 12.5% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.02 earnings per share. On average, equities analysts predict that Skechers U.S.A., Inc. will post 4.08 EPS for the current fiscal 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.