Skechers U.S.A., Inc. (NYSE:SKX) Stock Position Lifted by Victory Capital Management Inc.

Victory Capital Management Inc. lifted its holdings in Skechers U.S.A., Inc. (NYSE:SKX) by 22.3% in the 3rd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 138,893 shares of the textile maker’s stock after purchasing an additional 25,289 shares during the quarter. Victory Capital Management Inc. owned 0.09% of Skechers U.S.A. worth $9,295,000 as of its most recent filing with the SEC.

Several other large investors have also bought and sold shares of SKX. Bessemer Group Inc. lifted its holdings in shares of Skechers U.S.A. by 66.7% during the first quarter. Bessemer Group Inc. now owns 410 shares of the textile maker’s stock valued at $25,000 after purchasing an additional 164 shares during the last quarter. UMB Bank n.a. lifted its holdings in shares of Skechers U.S.A. by 423.3% during the third quarter. UMB Bank n.a. now owns 450 shares of the textile maker’s stock valued at $30,000 after purchasing an additional 364 shares during the last quarter. Versant Capital Management Inc lifted its holdings in shares of Skechers U.S.A. by 2,809.1% during the second quarter. Versant Capital Management Inc now owns 640 shares of the textile maker’s stock valued at $44,000 after purchasing an additional 618 shares during the last quarter. Venturi Wealth Management LLC lifted its holdings in shares of Skechers U.S.A. by 52.9% during the third quarter. Venturi Wealth Management LLC now owns 864 shares of the textile maker’s stock valued at $58,000 after purchasing an additional 299 shares during the last quarter. Finally, Blue Trust Inc. lifted its holdings in shares of Skechers U.S.A. by 778.1% during the third quarter. Blue Trust Inc. now owns 1,001 shares of the textile maker’s stock valued at $69,000 after purchasing an additional 887 shares during the last quarter. Institutional investors own 79.96% of the company’s stock.

Wall Street Analysts Forecast Growth

SKX has been the subject of several analyst reports. TD Cowen reduced their target price on 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. Bank of America reduced their price objective on Skechers U.S.A. from $81.00 to $80.00 and set a “buy” rating for the company in a research note on Friday, October 25th. StockNews.com raised Skechers U.S.A. from a “hold” rating to a “buy” rating in a research note on Tuesday, November 12th. Barclays increased 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. Finally, Stifel Nicolaus increased their price objective on Skechers U.S.A. from $81.00 to $83.00 and gave the stock a “buy” rating in a research note on Friday, July 26th. Twelve equities research analysts have rated the stock with a buy rating, According to MarketBeat.com, the company has a consensus rating of “Buy” and a consensus target price of $78.09.

Skechers U.S.A. Stock Performance

Shares of SKX stock opened at $60.87 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. Skechers U.S.A., Inc. has a fifty-two week low of $54.80 and a fifty-two week high of $75.09. The stock’s 50-day moving average is $63.72 and its two-hundred day moving average is $66.28. The firm has a market cap of $9.19 billion, a P/E ratio of 14.99, a PEG ratio of 0.84 and a beta of 1.23.

Skechers U.S.A. (NYSE:SKX) last issued its earnings results on Thursday, October 24th. The textile maker reported $1.26 earnings per share for the quarter, topping the consensus estimate of $1.15 by $0.11. Skechers U.S.A. had a return on equity of 13.71% and a net margin of 7.19%. The company had revenue of $2.35 billion for the quarter, compared to analyst estimates of $2.31 billion. During the same period in the prior year, the firm posted $0.93 EPS. The business’s revenue was up 16.0% compared to the same quarter last year. Analysts predict that Skechers U.S.A., Inc. will post 4.25 earnings per share for the current fiscal year.

Skechers U.S.A. declared that its Board of Directors has approved a share buyback plan on Thursday, July 25th that authorizes the company to buyback $1.00 billion in outstanding shares. This buyback authorization authorizes the textile maker to buy up to 10.3% of its shares through open market purchases. Shares buyback plans are often an indication that the company’s board believes its stock is undervalued.

About Skechers U.S.A.

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.