Crossmark Global Holdings Inc. Sells 1,023 Shares of Skechers U.S.A., Inc. (NYSE:SKX)

Crossmark Global Holdings Inc. decreased its stake in shares of Skechers U.S.A., Inc. (NYSE:SKX) by 11.3% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 8,032 shares of the textile maker’s stock after selling 1,023 shares during the period. Crossmark Global Holdings Inc.’s holdings in Skechers U.S.A. were worth $555,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Wells Fargo & Company MN raised its stake in Skechers U.S.A. by 50.4% during the 4th quarter. Wells Fargo & Company MN now owns 157,416 shares of the textile maker’s stock valued at $9,813,000 after buying an additional 52,754 shares during the last quarter. Quantedge Capital Pte Ltd purchased a new position in shares of Skechers U.S.A. in the 4th quarter worth $948,000. Cim LLC bought a new stake in shares of Skechers U.S.A. in the fourth quarter worth $1,126,000. KBC Group NV increased its position in Skechers U.S.A. by 22.4% during the fourth quarter. KBC Group NV now owns 241,079 shares of the textile maker’s stock valued at $15,029,000 after acquiring an additional 44,086 shares during the last quarter. Finally, Cetera Advisors LLC bought a new position in Skechers U.S.A. in the first quarter valued at about $600,000. Hedge funds and other institutional investors own 79.96% of the company’s stock.

Skechers U.S.A. Stock Down 0.0 %

Shares of SKX opened at $68.48 on Monday. The business’s 50 day moving average is $66.02 and its 200 day moving average is $64.72. The company has a current ratio of 2.06, a quick ratio of 1.33 and a debt-to-equity ratio of 0.01. Skechers U.S.A., Inc. has a 12-month low of $45.58 and a 12-month high of $75.09. The company has a market capitalization of $10.43 billion, a PE ratio of 18.02, a price-to-earnings-growth ratio of 0.95 and a beta of 1.25.

Skechers U.S.A. (NYSE:SKX) last released its quarterly earnings data on Thursday, July 25th. The textile maker reported $0.91 earnings per share (EPS) 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 company had revenue of $2.16 billion for the quarter, compared to the consensus estimate of $2.24 billion. During the same quarter in the previous year, the business earned $0.98 EPS. The company’s quarterly revenue was up 7.3% on a year-over-year basis. Research analysts expect that Skechers U.S.A., Inc. will post 4.17 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on the company. Deutsche Bank Aktiengesellschaft restated a “buy” rating and set a $82.00 price target on shares of Skechers U.S.A. in a research note on Thursday, June 13th. Morgan Stanley upgraded shares of Skechers U.S.A. from an “equal weight” rating to an “overweight” rating and boosted their target price for the company from $60.00 to $80.00 in a research report on Tuesday, July 23rd. Bank of America upgraded shares of Skechers U.S.A. from a “neutral” rating to a “buy” rating and increased their price target for the stock from $71.00 to $87.00 in a research report on Friday, June 7th. Evercore ISI boosted their price objective on shares of Skechers U.S.A. from $68.00 to $72.00 and gave the company an “outperform” rating in a research report on Friday, July 26th. Finally, Barclays raised their target price on Skechers U.S.A. from $78.00 to $79.00 and gave the stock an “overweight” rating in a report on Friday, July 26th. Thirteen analysts have rated the stock with a buy rating, According to MarketBeat.com, the company presently has an average rating of “Buy” and an average price target of $76.75.

Insider Buying and Selling at Skechers U.S.A.

In other Skechers U.S.A. news, General Counsel Phillip Paccione sold 423 shares of the stock in a transaction dated Tuesday, June 4th. The shares were sold at an average price of $69.45, for a total transaction of $29,377.35. Following the completion of the transaction, the general counsel now owns 35,000 shares of the company’s stock, valued at approximately $2,430,750. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 24.75% of the stock is currently owned by insiders.

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.