Thrivent Financial for Lutherans Has $2.08 Million Position in Skechers U.S.A., Inc. (NYSE:SKX)

Thrivent Financial for Lutherans lessened its holdings in shares of Skechers U.S.A., Inc. (NYSE:SKX) by 11.8% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 31,139 shares of the textile maker’s stock after selling 4,169 shares during the quarter. Thrivent Financial for Lutherans’ holdings in Skechers U.S.A. were worth $2,084,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Seven Eight Capital LP boosted its holdings in shares of Skechers U.S.A. by 126.1% in the 2nd quarter. Seven Eight Capital LP now owns 29,419 shares of the textile maker’s stock worth $2,033,000 after buying an additional 16,408 shares during the last quarter. Cetera Advisors LLC purchased a new stake in Skechers U.S.A. during the first quarter valued at about $600,000. Vista Investment Partners LLC purchased a new stake in Skechers U.S.A. during the second quarter valued at about $925,000. First Hawaiian Bank purchased a new stake in Skechers U.S.A. during the second quarter valued at about $673,000. Finally, Assenagon Asset Management S.A. lifted its holdings in shares of Skechers U.S.A. by 36.5% in the second quarter. Assenagon Asset Management S.A. now owns 193,363 shares of the textile maker’s stock worth $13,365,000 after buying an additional 51,673 shares in the last quarter. Institutional investors own 79.96% of the company’s stock.

Skechers U.S.A. Stock Performance

Shares of SKX stock opened at $63.71 on Friday. The stock has a fifty day moving average of $63.38 and a 200 day moving average of $66.14. Skechers U.S.A., Inc. has a 52 week low of $55.67 and a 52 week high of $75.09. The firm has a market capitalization of $9.62 billion, a price-to-earnings ratio of 15.69, a PEG ratio of 0.88 and a beta of 1.23. The company has a quick ratio of 1.25, a current ratio of 1.96 and a debt-to-equity ratio of 0.01.

Skechers U.S.A. (NYSE:SKX) last announced its quarterly earnings data on Thursday, October 24th. The textile maker reported $1.26 EPS for the quarter, beating the consensus estimate of $1.15 by $0.11. The business had revenue of $2.35 billion during the quarter, compared to analyst estimates of $2.31 billion. Skechers U.S.A. had a return on equity of 13.71% and a net margin of 7.19%. The company’s revenue for the quarter was up 16.0% on a year-over-year basis. During the same quarter last year, the firm posted $0.93 earnings per share. As a group, research analysts expect that Skechers U.S.A., Inc. will post 4.25 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on SKX shares. TD Cowen lowered their price target on shares of Skechers U.S.A. from $78.00 to $76.00 and set a “buy” rating on the stock in a report on Monday, October 14th. Deutsche Bank Aktiengesellschaft upped their price objective on shares of Skechers U.S.A. from $83.00 to $84.00 and gave the stock a “buy” rating in a research report on Friday, October 25th. StockNews.com cut shares of Skechers U.S.A. from a “buy” rating to a “hold” rating in a research report on Monday. Barclays increased their price target on shares of Skechers U.S.A. from $79.00 to $80.00 and gave the company an “overweight” rating in a research report on Friday, October 25th. Finally, Needham & Company LLC started coverage on shares of Skechers U.S.A. in a report on Friday, November 22nd. They issued a “hold” rating on the stock. Two analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $78.09.

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.