Headlands Technologies LLC Increases Stake in Skechers U.S.A., Inc. (NYSE:SKX)

Headlands Technologies LLC boosted its holdings in Skechers U.S.A., Inc. (NYSE:SKX) by 517.2% during the 2nd quarter, according to its most recent disclosure with the SEC. The firm owned 16,269 shares of the textile maker’s stock after buying an additional 13,633 shares during the period. Headlands Technologies LLC’s holdings in Skechers U.S.A. were worth $1,125,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of the business. Vanguard Group Inc. raised its holdings in Skechers U.S.A. by 0.8% in the first quarter. Vanguard Group Inc. now owns 12,724,299 shares of the textile maker’s stock valued at $779,491,000 after buying an additional 97,666 shares during the period. Fiduciary Management Inc. WI raised its stake in shares of Skechers U.S.A. by 3.5% during the fourth quarter. Fiduciary Management Inc. WI now owns 2,893,529 shares of the textile maker’s stock valued at $180,383,000 after purchasing an additional 98,068 shares during the period. Vaughan Nelson Investment Management L.P. raised its stake in shares of Skechers U.S.A. by 62.6% during the first quarter. Vaughan Nelson Investment Management L.P. now owns 1,232,993 shares of the textile maker’s stock valued at $75,534,000 after purchasing an additional 474,524 shares during the period. Norges Bank purchased a new stake in shares of Skechers U.S.A. during the fourth quarter valued at approximately $75,194,000. Finally, Goldman Sachs Group Inc. raised its stake in shares of Skechers U.S.A. by 99.2% during the fourth quarter. Goldman Sachs Group Inc. now owns 824,263 shares of the textile maker’s stock valued at $51,385,000 after purchasing an additional 410,379 shares during the period. Hedge funds and other institutional investors own 79.96% of the company’s stock.

Skechers U.S.A. Stock Performance

Skechers U.S.A. stock opened at $65.62 on Thursday. The company has a market cap of $10.00 billion, a PE ratio of 17.27, a P/E/G ratio of 0.91 and a beta of 1.23. The company has a fifty day moving average price of $65.49 and a two-hundred day moving average price of $65.12. The company has a debt-to-equity ratio of 0.01, a current ratio of 2.06 and a quick ratio of 1.33. Skechers U.S.A., Inc. has a 12 month low of $45.58 and a 12 month high of $75.09.

Skechers U.S.A. (NYSE:SKX) last released its quarterly earnings data on Thursday, July 25th. The textile maker reported $0.91 EPS for the quarter, missing analysts’ consensus estimates of $0.95 by ($0.04). The business had revenue of $2.16 billion during the quarter, compared to analyst estimates of $2.24 billion. Skechers U.S.A. had a return on equity of 13.04% and a net margin of 6.90%. The business’s revenue for the quarter was up 7.3% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.98 EPS. Research analysts expect that Skechers U.S.A., Inc. will post 4.17 earnings per share for the current year.

Analyst Ratings Changes

A number of research firms have recently issued reports on SKX. Morgan Stanley upgraded shares of Skechers U.S.A. from an “equal weight” rating to an “overweight” rating and lifted their price objective for the company from $60.00 to $80.00 in a research note on Tuesday, July 23rd. Deutsche Bank Aktiengesellschaft reiterated a “buy” rating and set a $82.00 price objective on shares of Skechers U.S.A. in a research note on Thursday, June 13th. Wedbush lifted their price objective on shares of Skechers U.S.A. from $76.00 to $79.00 and gave the company an “outperform” rating in a research note on Friday, July 26th. Barclays raised their price target on shares of Skechers U.S.A. from $78.00 to $79.00 and gave the stock an “overweight” rating in a research report on Friday, July 26th. Finally, Stifel Nicolaus raised their price target on shares of Skechers U.S.A. from $81.00 to $83.00 and gave the stock a “buy” rating in a research report on Friday, July 26th. Thirteen equities research analysts have rated the stock with a buy rating, According to MarketBeat, Skechers U.S.A. currently has a consensus rating of “Buy” and a consensus price target of $76.75.

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.