Skechers U.S.A., Inc. $SKX Stock Holdings Trimmed by Fifth Third Bancorp

Fifth Third Bancorp reduced its position in Skechers U.S.A., Inc. (NYSE:SKX) by 39.5% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 1,363 shares of the textile maker’s stock after selling 890 shares during the quarter. Fifth Third Bancorp’s holdings in Skechers U.S.A. were worth $86,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Victory Capital Management Inc. increased its holdings in Skechers U.S.A. by 15,774.3% in the first quarter. Victory Capital Management Inc. now owns 3,949,844 shares of the textile maker’s stock valued at $224,272,000 after buying an additional 3,924,962 shares during the last quarter. Fiduciary Management Inc. WI increased its holdings in Skechers U.S.A. by 12.9% in the first quarter. Fiduciary Management Inc. WI now owns 2,833,785 shares of the textile maker’s stock valued at $160,902,000 after buying an additional 324,007 shares during the last quarter. Dimensional Fund Advisors LP increased its holdings in Skechers U.S.A. by 26.4% in the first quarter. Dimensional Fund Advisors LP now owns 2,795,753 shares of the textile maker’s stock valued at $158,739,000 after buying an additional 583,733 shares during the last quarter. Bank of New York Mellon Corp increased its holdings in Skechers U.S.A. by 7.6% in the first quarter. Bank of New York Mellon Corp now owns 2,482,980 shares of the textile maker’s stock valued at $140,984,000 after buying an additional 174,697 shares during the last quarter. Finally, Coronation Fund Managers Ltd. increased its holdings in Skechers U.S.A. by 212.0% in the first quarter. Coronation Fund Managers Ltd. now owns 797,248 shares of the textile maker’s stock valued at $45,268,000 after buying an additional 541,691 shares during the last quarter. 79.96% of the stock is owned by institutional investors.

Analysts Set New Price Targets

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

Skechers U.S.A. Stock Performance

Shares of SKX stock opened at $63.13 on Thursday. Skechers U.S.A., Inc. has a 12-month low of $44.50 and a 12-month high of $78.85. The firm has a market capitalization of $9.49 billion, a price-to-earnings ratio of 14.41 and a beta of 1.19. The business has a 50 day simple moving average of $63.10 and a 200 day simple moving average of $59.90. The company has a debt-to-equity ratio of 0.02, a current ratio of 2.09 and a quick ratio of 1.29.

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