Park Avenue Securities LLC Has $751,000 Position in Skechers U.S.A., Inc. (NYSE:SKX)

Park Avenue Securities LLC boosted its holdings in shares of Skechers U.S.A., Inc. (NYSE:SKX) by 4.3% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 12,262 shares of the textile maker’s stock after buying an additional 502 shares during the period. Park Avenue Securities LLC’s holdings in Skechers U.S.A. were worth $751,000 as of its most recent SEC filing.

A number of other large investors have also recently made changes to their positions in SKX. Wells Fargo & Company MN lifted its stake in Skechers U.S.A. by 50.4% during the 4th quarter. Wells Fargo & Company MN now owns 157,416 shares of the textile maker’s stock valued at $9,813,000 after acquiring an additional 52,754 shares in the last quarter. Raymond James & Associates grew its stake in Skechers U.S.A. by 354.5% in the 4th quarter. Raymond James & Associates now owns 52,280 shares of the textile maker’s stock valued at $3,259,000 after purchasing an additional 40,778 shares during the period. Quantedge Capital Pte Ltd purchased a new stake in shares of Skechers U.S.A. during the 4th quarter valued at $948,000. Cim LLC purchased a new position in shares of Skechers U.S.A. in the 4th quarter worth about $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 valued at $15,029,000 after buying an additional 44,086 shares during the period. 79.96% of the stock is owned by institutional investors.

Skechers U.S.A. Stock Down 2.7 %

SKX opened at $69.81 on Friday. The company has a quick ratio of 1.56, a current ratio of 2.39 and a debt-to-equity ratio of 0.02. The business’s fifty day simple moving average is $68.69 and its 200 day simple moving average is $63.52. Skechers U.S.A., Inc. has a 52 week low of $45.58 and a 52 week high of $75.09. The stock has a market cap of $10.65 billion, a PE ratio of 18.37, a P/E/G ratio of 1.04 and a beta of 1.28.

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

Analysts Set New Price Targets

A number of research analysts have recently weighed in on the stock. TD Cowen increased their target price on shares of 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. Evercore ISI dropped their price target on Skechers U.S.A. from $73.00 to $68.00 and set an “outperform” rating on the stock in a research report on Wednesday, April 17th. Bank of America raised Skechers U.S.A. from a “neutral” rating to a “buy” rating and lifted their price objective for the stock from $71.00 to $87.00 in a report on Friday, June 7th. Wedbush reaffirmed an “outperform” rating and set a $76.00 price objective on shares of Skechers U.S.A. in a report on Friday, May 17th. Finally, Barclays initiated coverage on shares of Skechers U.S.A. in a research note on Monday, April 1st. They issued an “overweight” rating and a $71.00 target price for the company. One equities research analyst has rated the stock with a hold rating and thirteen have given a buy rating to the stock. Based on data from MarketBeat.com, Skechers U.S.A. presently has an average rating of “Moderate Buy” and an average target price of $72.00.

Insider Buying and Selling at Skechers U.S.A.

In other Skechers U.S.A. news, General Counsel Phillip Paccione sold 423 shares of the 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 completion of the sale, the general counsel now owns 35,000 shares of the company’s stock, valued at approximately $2,430,750. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 24.75% of the company’s stock.

Skechers U.S.A. Company 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.