Voya Investment Management LLC Buys 34,400 Shares of Skechers U.S.A., Inc. $SKX

Voya Investment Management LLC grew its stake in shares of Skechers U.S.A., Inc. (NYSE:SKX) by 27.2% in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 160,641 shares of the textile maker’s stock after acquiring an additional 34,400 shares during the period. Voya Investment Management LLC owned about 0.11% of Skechers U.S.A. worth $9,121,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of the stock. HB Wealth Management LLC grew its position in shares of Skechers U.S.A. by 4.3% during the 1st quarter. HB Wealth Management LLC now owns 4,107 shares of the textile maker’s stock valued at $233,000 after acquiring an additional 168 shares during the period. Cim LLC grew its position in shares of Skechers U.S.A. by 0.9% during the 1st quarter. Cim LLC now owns 19,440 shares of the textile maker’s stock valued at $1,104,000 after acquiring an additional 169 shares during the period. National Bank of Canada FI grew its position in shares of Skechers U.S.A. by 8.5% during the 1st quarter. National Bank of Canada FI now owns 2,400 shares of the textile maker’s stock valued at $136,000 after acquiring an additional 189 shares during the period. PNC Financial Services Group Inc. boosted its holdings in Skechers U.S.A. by 2.8% in the 1st quarter. PNC Financial Services Group Inc. now owns 7,551 shares of the textile maker’s stock worth $429,000 after buying an additional 204 shares during the period. Finally, SageView Advisory Group LLC boosted its holdings in Skechers U.S.A. by 2.6% in the 1st quarter. SageView Advisory Group LLC now owns 8,720 shares of the textile maker’s stock worth $495,000 after buying an additional 224 shares during the period. 79.96% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

SKX has been the subject of several analyst reports. Needham & Company LLC reaffirmed a “hold” rating on shares of Skechers U.S.A. in a report on Wednesday, August 27th. Zacks Research raised shares of Skechers U.S.A. from a “hold” rating to a “strong-buy” rating in a report on Tuesday, August 26th. TD Cowen downgraded shares of Skechers U.S.A. from a “buy” rating to a “hold” rating and set a $63.00 price objective for the company. in a report on Wednesday, May 28th. Argus downgraded shares of Skechers U.S.A. from a “buy” rating to a “hold” rating and set a $63.00 price objective for the company. in a report on Tuesday, August 26th. Finally, Wall Street Zen raised shares of Skechers U.S.A. to a “hold” rating in a report on Saturday, August 30th. One research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and nine have given a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $66.46.

Skechers U.S.A. Price Performance

Shares of NYSE:SKX opened at $63.13 on Wednesday. The stock has a market cap of $9.49 billion, a PE ratio of 14.41 and a beta of 1.19. The company’s fifty day moving average is $63.10 and its 200 day moving average is $59.47. Skechers U.S.A., Inc. has a 52 week low of $44.50 and a 52 week high of $78.85. The company has a quick ratio of 1.29, a current ratio of 2.09 and a debt-to-equity ratio of 0.02.

Skechers U.S.A. (NYSE:SKX) last issued its earnings results on Friday, August 8th. The textile maker reported $1.13 EPS for the quarter, topping analysts’ consensus estimates of $0.86 by $0.27. The company had revenue of $2.44 billion for the quarter, compared to analysts’ expectations of $2.35 billion. Skechers U.S.A. had a net margin of 7.07% and a return on equity of 13.44%. The firm’s revenue was up 13.1% compared to the same quarter last year. During the same quarter last year, the company earned $0.91 EPS. Research analysts anticipate that Skechers U.S.A., Inc. will post 4.47 earnings per share for the current year.

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.