Ameritas Investment Partners Inc. Sells 1,338 Shares of Skechers U.S.A., Inc. (NYSE:SKX)

Ameritas Investment Partners Inc. lessened its holdings in shares of Skechers U.S.A., Inc. (NYSE:SKX) by 4.5% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 28,160 shares of the textile maker’s stock after selling 1,338 shares during the quarter. Ameritas Investment Partners Inc.’s holdings in Skechers U.S.A. were worth $1,946,000 at the end of the most recent quarter.

A number of other large investors have also recently modified their holdings of the business. Vanguard Group Inc. boosted its position in shares of Skechers U.S.A. by 0.8% during the 1st quarter. Vanguard Group Inc. now owns 12,724,299 shares of the textile maker’s stock valued at $779,491,000 after acquiring an additional 97,666 shares during the last quarter. Fiduciary Management Inc. WI boosted its position in shares of Skechers U.S.A. by 3.5% during 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 last quarter. Dimensional Fund Advisors LP boosted its position in shares of Skechers U.S.A. by 3.0% during the 2nd quarter. Dimensional Fund Advisors LP now owns 1,885,723 shares of the textile maker’s stock valued at $130,350,000 after acquiring an additional 55,095 shares during the last quarter. Vaughan Nelson Investment Management L.P. boosted its position in shares of Skechers U.S.A. by 62.6% during the 1st quarter. Vaughan Nelson Investment Management L.P. now owns 1,232,993 shares of the textile maker’s stock valued at $75,534,000 after acquiring an additional 474,524 shares during the last quarter. Finally, Norges Bank bought a new stake in shares of Skechers U.S.A. during the 4th quarter valued at about $75,194,000. Institutional investors own 79.96% of the company’s stock.

Skechers U.S.A. Price Performance

Shares of Skechers U.S.A. stock opened at $63.01 on Monday. The company has a debt-to-equity ratio of 0.01, a current ratio of 2.06 and a quick ratio of 1.33. The business’s 50 day simple moving average is $65.30 and its two-hundred day simple moving average is $65.39. The stock has a market capitalization of $9.60 billion, a P/E ratio of 16.58, a price-to-earnings-growth ratio of 0.94 and a beta of 1.23. Skechers U.S.A., Inc. has a one year low of $45.58 and a one year high of $75.09.

Skechers U.S.A. (NYSE:SKX) last announced its quarterly earnings results on Thursday, July 25th. The textile maker reported $0.91 EPS for the quarter, missing analysts’ consensus estimates of $0.95 by ($0.04). The company had revenue of $2.16 billion during the quarter, compared to analysts’ expectations of $2.24 billion. Skechers U.S.A. had a return on equity of 13.04% and a net margin of 6.90%. Skechers U.S.A.’s revenue for the quarter was up 7.3% on a year-over-year basis. During the same period last year, the firm earned $0.98 earnings per share. Analysts forecast that Skechers U.S.A., Inc. will post 4.17 EPS for the current year.

Skechers U.S.A. declared that its board has initiated a stock buyback plan on Thursday, July 25th that allows the company to buyback $1.00 billion in outstanding shares. This buyback authorization allows the textile maker to repurchase up to 10.3% of its shares through open market purchases. Shares buyback plans are usually a sign that the company’s board believes its shares are undervalued.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on the company. Deutsche Bank Aktiengesellschaft reiterated a “buy” rating and set a $82.00 price target on shares of Skechers U.S.A. in a research report on Thursday, June 13th. Stifel Nicolaus boosted their target price on Skechers U.S.A. from $81.00 to $83.00 and gave the stock a “buy” rating in a research report on Friday, July 26th. Morgan Stanley upgraded Skechers U.S.A. from an “equal weight” rating to an “overweight” rating and boosted their target price for the stock from $60.00 to $80.00 in a research report on Tuesday, July 23rd. TD Cowen boosted their target price on Skechers U.S.A. from $77.00 to $79.00 and gave the stock a “buy” rating in a research report on Monday, July 22nd. Finally, Wedbush boosted their target price on Skechers U.S.A. from $76.00 to $79.00 and gave the stock an “outperform” rating in a research report on Friday, July 26th. Twelve equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat, the company has a consensus rating of “Buy” and an average target price of $78.36.

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.