US Bancorp DE maintained its stake in Skechers U.S.A., Inc. (NYSE:SKX) during the second quarter, according to its most recent disclosure with the SEC. The fund owned 3,895 shares of the textile maker’s stock at the end of the second quarter. US Bancorp DE’s holdings in Skechers U.S.A. were worth $115,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of the company. Capstone Asset Management Co. boosted its stake in Skechers U.S.A. by 0.9% in the first quarter. Capstone Asset Management Co. now owns 18,446 shares of the textile maker’s stock worth $506,000 after buying an additional 160 shares during the period. Louisiana State Employees Retirement System boosted its stake in Skechers U.S.A. by 2.4% in the first quarter. Louisiana State Employees Retirement System now owns 33,800 shares of the textile maker’s stock worth $928,000 after buying an additional 800 shares during the period. Retirement Systems of Alabama boosted its stake in Skechers U.S.A. by 0.3% in the first quarter. Retirement Systems of Alabama now owns 172,700 shares of the textile maker’s stock worth $4,741,000 after buying an additional 523 shares during the period. Nationwide Fund Advisors boosted its stake in Skechers U.S.A. by 0.7% in the first quarter. Nationwide Fund Advisors now owns 223,345 shares of the textile maker’s stock worth $6,131,000 after buying an additional 1,626 shares during the period. Finally, Profund Advisors LLC boosted its stake in Skechers U.S.A. by 3.5% in the first quarter. Profund Advisors LLC now owns 18,533 shares of the textile maker’s stock worth $509,000 after buying an additional 622 shares during the period. Institutional investors and hedge funds own 70.57% of the company’s stock.

Shares of Skechers U.S.A., Inc. (SKX) traded down 3.02% during trading on Wednesday, reaching $26.01. The company had a trading volume of 1,366,122 shares. Skechers U.S.A., Inc. has a 52-week low of $18.81 and a 52-week high of $30.00. The stock has a market capitalization of $4.12 billion, a price-to-earnings ratio of 18.04 and a beta of 0.18. The stock has a 50 day moving average of $28.15 and a 200 day moving average of $26.69.

Skechers U.S.A. (NYSE:SKX) last released its quarterly earnings results on Thursday, July 20th. The textile maker reported $0.38 EPS for the quarter, missing the Zacks’ consensus estimate of $0.44 by $0.06. The firm had revenue of $1.03 billion during the quarter, compared to analyst estimates of $966.46 million. Skechers U.S.A. had a net margin of 5.92% and a return on equity of 12.79%. Skechers U.S.A.’s quarterly revenue was up 16.9% on a year-over-year basis. During the same quarter last year, the firm earned $0.48 earnings per share. Equities research analysts forecast that Skechers U.S.A., Inc. will post $1.57 EPS for the current year.

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SKX has been the topic of a number of research analyst reports. Vetr upgraded Skechers U.S.A. from a “hold” rating to a “buy” rating and set a $26.28 target price on the stock in a research report on Wednesday, May 3rd. Citigroup Inc. upgraded Skechers U.S.A. from a “neutral” rating to a “buy” rating and lifted their target price for the stock from $25.52 to $30.00 in a research report on Thursday, June 1st. UBS AG upgraded Skechers U.S.A. from a “neutral” rating to a “positive” rating in a research report on Monday, June 5th. Susquehanna Bancshares Inc upgraded Skechers U.S.A. from a “neutral” rating to a “positive” rating and lifted their target price for the stock from $25.00 to $32.00 in a research report on Monday, June 5th. Finally, Morgan Stanley lifted their target price on Skechers U.S.A. from $25.00 to $26.00 and gave the stock an “equal weight” rating in a research report on Tuesday, June 6th. Two equities research analysts have rated the stock with a sell rating, four have given a hold rating and ten have assigned a buy rating to the stock. Skechers U.S.A. currently has an average rating of “Buy” and an average target price of $31.10.

In other Skechers U.S.A. news, Director Richard Rappaport sold 1,500 shares of the business’s stock in a transaction dated Friday, June 23rd. The shares were sold at an average price of $28.38, for a total value of $42,570.00. Following the completion of the transaction, the director now directly owns 20,000 shares of the company’s stock, valued at $567,600. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, General Counsel Phillip Paccione sold 1,004 shares of the business’s stock in a transaction dated Thursday, August 24th. The stock was sold at an average price of $27.24, for a total transaction of $27,348.96. The disclosure for this sale can be found here. 38.20% of the stock is owned by insiders.

Skechers U.S.A. Company Profile

Skechers U.SA, Inc is a designer and marketer of Skechers-branded lifestyle footwear for men, women and children, and performance footwear for men and women under the Skechers GO brand name. The Company operates through three segments: domestic wholesale sales, international wholesale sales, and retail sales, which includes e-commerce sales.

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Institutional Ownership by Quarter for Skechers U.S.A. (NYSE:SKX)

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