Victory Capital Management Inc. Decreases Position in Skechers U.S.A., Inc. (NYSE:SKX)

Victory Capital Management Inc. lowered its position in Skechers U.S.A., Inc. (NYSE:SKX) by 26.1% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 113,604 shares of the textile maker’s stock after selling 40,144 shares during the quarter. Victory Capital Management Inc. owned 0.07% of Skechers U.S.A. worth $7,852,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in SKX. Redmont Wealth Advisors LLC purchased a new position in shares of Skechers U.S.A. during the 1st quarter worth approximately $25,000. Bessemer Group Inc. lifted its position in shares of Skechers U.S.A. by 66.7% in the first quarter. Bessemer Group Inc. now owns 410 shares of the textile maker’s stock valued at $25,000 after acquiring an additional 164 shares in the last quarter. Versant Capital Management Inc boosted its stake 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 acquiring an additional 618 shares during the last quarter. Game Plan Financial Advisors LLC purchased a new stake in Skechers U.S.A. during the 1st quarter worth about $43,000. Finally, Sunbelt Securities Inc. purchased a new position in Skechers U.S.A. in the 1st quarter valued at about $45,000. 79.96% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on SKX. Barclays boosted their price objective on shares of Skechers U.S.A. from $78.00 to $79.00 and gave the company an “overweight” rating in a research report on Friday, July 26th. TD Cowen increased their price target on Skechers U.S.A. from $77.00 to $79.00 and gave the stock a “buy” rating in a research note on Monday, July 22nd. Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating and issued a $82.00 price objective on shares of Skechers U.S.A. in a research report on Thursday, June 13th. Morgan Stanley upgraded Skechers U.S.A. from an “equal weight” rating to an “overweight” rating and lifted their price target for the company from $60.00 to $80.00 in a report on Tuesday, July 23rd. Finally, Wedbush increased their price objective on shares of Skechers U.S.A. from $76.00 to $79.00 and gave the stock an “outperform” rating in a report on Friday, July 26th. Thirteen analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock currently has a consensus rating of “Buy” and a consensus target price of $76.75.

Skechers U.S.A. Stock Up 1.4 %

Shares of Skechers U.S.A. stock opened at $67.30 on Monday. Skechers U.S.A., Inc. has a twelve month low of $45.58 and a twelve month high of $75.09. The company has a fifty day moving average price of $65.49 and a 200 day moving average price of $65.23. The company has a current ratio of 2.06, a quick ratio of 1.33 and a debt-to-equity ratio of 0.01. The stock has a market cap of $10.25 billion, a price-to-earnings ratio of 17.71, a price-to-earnings-growth ratio of 0.92 and a beta of 1.23.

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

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.