OppenheimerFunds Inc. raised its holdings in Skechers USA Inc (NYSE:SKX) by 40.8% during the second quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 44,280 shares of the textile maker’s stock after buying an additional 12,823 shares during the quarter. OppenheimerFunds Inc.’s holdings in Skechers USA were worth $1,329,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. BlackRock Inc. boosted its position in shares of Skechers USA by 1.9% during the second quarter. BlackRock Inc. now owns 13,107,423 shares of the textile maker’s stock valued at $393,355,000 after purchasing an additional 244,350 shares in the last quarter. Olstein Capital Management L.P. boosted its position in shares of Skechers USA by 94.2% during the second quarter. Olstein Capital Management L.P. now owns 301,650 shares of the textile maker’s stock valued at $9,053,000 after purchasing an additional 146,350 shares in the last quarter. Buckingham Capital Management Inc. boosted its position in shares of Skechers USA by 71.1% during the first quarter. Buckingham Capital Management Inc. now owns 9,995 shares of the textile maker’s stock valued at $389,000 after purchasing an additional 4,155 shares in the last quarter. Riverhead Capital Management LLC boosted its position in shares of Skechers USA by 11.1% during the second quarter. Riverhead Capital Management LLC now owns 35,326 shares of the textile maker’s stock valued at $1,060,000 after purchasing an additional 3,539 shares in the last quarter. Finally, Principal Financial Group Inc. boosted its position in shares of Skechers USA by 4.7% during the first quarter. Principal Financial Group Inc. now owns 600,758 shares of the textile maker’s stock valued at $23,363,000 after purchasing an additional 27,185 shares in the last quarter. Hedge funds and other institutional investors own 70.89% of the company’s stock.

Several equities research analysts recently weighed in on SKX shares. Standpoint Research upgraded Skechers USA from a “hold” rating to a “buy” rating in a research report on Friday, July 20th. Buckingham Research lifted their price target on Skechers USA from $31.00 to $35.00 and gave the company a “buy” rating in a research report on Thursday, August 16th. UBS Group lowered Skechers USA from a “positive” rating to a “neutral” rating and dropped their price target for the company from $41.00 to $37.00 in a research report on Friday, July 20th. Cowen lowered Skechers USA from an “outperform” rating to a “market perform” rating and dropped their price target for the company from $32.00 to $28.00 in a research report on Thursday, September 20th. Finally, B. Riley set a $50.00 price target on Skechers USA and gave the company a “buy” rating in a research report on Tuesday, July 17th. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating and five have issued a buy rating to the company’s stock. Skechers USA presently has an average rating of “Hold” and a consensus price target of $36.62.

Shares of NYSE:SKX opened at $27.46 on Thursday. The firm has a market cap of $4.32 billion, a price-to-earnings ratio of 15.43, a P/E/G ratio of 1.57 and a beta of 0.34. Skechers USA Inc has a 12-month low of $23.80 and a 12-month high of $43.08. The company has a debt-to-equity ratio of 0.03, a current ratio of 3.28 and a quick ratio of 2.14.

Skechers USA (NYSE:SKX) last announced its quarterly earnings data on Thursday, July 19th. The textile maker reported $0.29 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.41 by ($0.12). The company had revenue of $1.13 billion for the quarter, compared to analysts’ expectations of $1.13 billion. Skechers USA had a net margin of 4.24% and a return on equity of 14.17%. The firm’s quarterly revenue was up 10.6% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.38 EPS. research analysts anticipate that Skechers USA Inc will post 1.72 EPS for the current year.

Skechers USA Profile

Skechers U.SA, Inc designs, develops, markets, and distributes footwear for men, women, and children; and performance footwear for men and women under the Skechers GO brand worldwide. It operates through three segments: Domestic Wholesale Sales, International Wholesale Sales, and Retail Sales. The company offers casual boots, shoes, and sandals for men; shoes, oxfords and slip-ons, lug outsole and fashion boots, and casual sandals for women; dress casuals, seasonal sandals and boots, classic and wide fit, and relaxed fit casuals for men and women; and casual athletic line for men and women under the Skechers USA brand.

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Institutional Ownership by Quarter for Skechers USA (NYSE:SKX)

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