Sunbelt Securities Inc. Invests $45,000 in Skechers U.S.A., Inc. (NYSE:SKX)

Sunbelt Securities Inc. acquired a new position in shares of Skechers U.S.A., Inc. (NYSE:SKX) during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 731 shares of the textile maker’s stock, valued at approximately $45,000.

A number of other institutional investors and hedge funds have also bought and sold shares of SKX. Vanguard Group Inc. grew its holdings in shares of Skechers U.S.A. by 0.3% during the fourth quarter. Vanguard Group Inc. now owns 12,626,633 shares of the textile maker’s stock worth $787,144,000 after purchasing an additional 40,138 shares during the last quarter. Fiduciary Management Inc. WI increased its position in Skechers U.S.A. by 3.5% in the 4th quarter. Fiduciary Management Inc. WI now owns 2,893,529 shares of the textile maker’s stock valued at $180,383,000 after acquiring an additional 98,068 shares during the period. Pacer Advisors Inc. increased its position in Skechers U.S.A. by 6,521.5% in the 4th quarter. Pacer Advisors Inc. now owns 1,456,599 shares of the textile maker’s stock valued at $90,804,000 after acquiring an additional 1,434,601 shares during the period. AQR Capital Management LLC raised its stake in shares of Skechers U.S.A. by 72.8% during the third quarter. AQR Capital Management LLC now owns 1,311,246 shares of the textile maker’s stock valued at $64,185,000 after acquiring an additional 552,452 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its holdings in shares of Skechers U.S.A. by 1.3% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,269,306 shares of the textile maker’s stock worth $79,129,000 after purchasing an additional 16,146 shares during the period. Institutional investors and hedge funds own 79.96% of the company’s stock.

Skechers U.S.A. Stock Performance

Shares of SKX opened at $69.12 on Monday. The stock has a 50-day moving average of $68.94 and a 200-day moving average of $63.62. Skechers U.S.A., Inc. has a one year low of $45.58 and a one year high of $75.09. The company has a debt-to-equity ratio of 0.02, a current ratio of 2.39 and a quick ratio of 1.56. The company has a market cap of $10.54 billion, a PE ratio of 18.19, a P/E/G ratio of 0.99 and a beta of 1.28.

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

Insider Activity

In related news, General Counsel Phillip Paccione sold 423 shares of the company’s stock in a transaction dated Tuesday, June 4th. The shares were sold at an average price of $69.45, for a total value of $29,377.35. Following the sale, the general counsel now owns 35,000 shares in the company, valued at approximately $2,430,750. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 24.75% of the company’s stock.

Analysts Set New Price Targets

A number of analysts recently weighed in on SKX shares. Wedbush restated an “outperform” rating and issued a $76.00 price objective on shares of Skechers U.S.A. in a report on Friday, May 17th. Wells Fargo & Company initiated coverage on Skechers U.S.A. in a research report on Wednesday, June 12th. They set an “overweight” rating and a $83.00 price objective for the company. Deutsche Bank Aktiengesellschaft reiterated a “buy” rating and issued a $82.00 target price on shares of Skechers U.S.A. in a report on Thursday, June 13th. Bank of America upgraded shares of Skechers U.S.A. from a “neutral” rating to a “buy” rating and raised their price target for the stock from $71.00 to $87.00 in a report on Friday, June 7th. Finally, Evercore ISI reduced their price objective on shares of Skechers U.S.A. from $73.00 to $68.00 and set an “outperform” rating on the stock in a research note on Wednesday, April 17th. One research analyst has rated the stock with a hold rating and thirteen have assigned a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $72.00.

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.