Ensign Peak Advisors Inc Has $6.83 Million Holdings in Skechers U.S.A., Inc. (NYSE:SKX)

Ensign Peak Advisors Inc trimmed its holdings in shares of Skechers U.S.A., Inc. (NYSE:SKX) by 10.6% in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 98,844 shares of the textile maker’s stock after selling 11,710 shares during the period. Ensign Peak Advisors Inc owned 0.06% of Skechers U.S.A. worth $6,832,000 as of its most recent SEC filing.

Several other institutional investors have also recently bought and sold shares of SKX. Bessemer Group Inc. increased its stake in shares of Skechers U.S.A. by 66.7% in the first quarter. Bessemer Group Inc. now owns 410 shares of the textile maker’s stock valued at $25,000 after buying an additional 164 shares in the last quarter. CIBC Asset Management Inc raised its stake in shares of Skechers U.S.A. by 4.7% in the second quarter. CIBC Asset Management Inc now owns 3,820 shares of the textile maker’s stock worth $264,000 after acquiring an additional 173 shares during the last quarter. QRG Capital Management Inc. lifted its position in shares of Skechers U.S.A. by 2.0% during the first quarter. QRG Capital Management Inc. now owns 10,047 shares of the textile maker’s stock worth $615,000 after purchasing an additional 194 shares in the last quarter. X Square Capital LLC grew its stake in shares of Skechers U.S.A. by 0.5% during the second quarter. X Square Capital LLC now owns 40,903 shares of the textile maker’s stock valued at $2,827,000 after purchasing an additional 215 shares during the last quarter. Finally, Pallas Capital Advisors LLC increased its holdings in shares of Skechers U.S.A. by 5.7% in the second quarter. Pallas Capital Advisors LLC now owns 6,027 shares of the textile maker’s stock valued at $388,000 after purchasing an additional 324 shares in the last quarter. Institutional investors own 79.96% of the company’s stock.

Skechers U.S.A. Stock Up 0.7 %

Shares of NYSE:SKX opened at $65.46 on Thursday. The company has a 50 day moving average price of $65.20 and a two-hundred day moving average price of $65.44. The company has a debt-to-equity ratio of 0.01, a quick ratio of 1.33 and a current ratio of 2.06. The company has a market capitalization of $9.97 billion, a PE ratio of 17.23, a PEG ratio of 0.88 and a beta of 1.23. Skechers U.S.A., Inc. has a 52 week low of $45.58 and a 52 week high of $75.09.

Skechers U.S.A. (NYSE:SKX) last announced its quarterly earnings results 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). The firm had revenue of $2.16 billion during the quarter, compared to analyst estimates of $2.24 billion. Skechers U.S.A. had a net margin of 6.90% and a return on equity of 13.04%. Skechers U.S.A.’s quarterly revenue was up 7.3% on a year-over-year basis. During the same period last year, the firm earned $0.98 EPS. Analysts forecast that Skechers U.S.A., Inc. will post 4.16 earnings per share for the current year.

Skechers U.S.A. announced that its board has approved a share buyback program on Thursday, July 25th that allows the company to buyback $1.00 billion in outstanding shares. This buyback authorization allows the textile maker to reacquire up to 10.3% of its shares through open market purchases. Shares buyback programs are usually an indication that the company’s board of directors believes its stock is undervalued.

Analyst Ratings Changes

SKX has been the topic of several research reports. Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating and set a $82.00 price objective on shares of Skechers U.S.A. in a report on Thursday, June 13th. Evercore ISI lifted their price objective on Skechers U.S.A. from $68.00 to $72.00 and gave the stock an “outperform” rating in a research report on Friday, July 26th. Morgan Stanley upgraded shares of Skechers U.S.A. from an “equal weight” rating to an “overweight” rating and upped their target price for the company from $60.00 to $80.00 in a research report on Tuesday, July 23rd. Wells Fargo & Company began coverage on shares of Skechers U.S.A. in a research report on Wednesday, June 12th. They set an “overweight” rating and a $83.00 price target for the company. Finally, Stifel Nicolaus increased their price objective on shares of Skechers U.S.A. from $81.00 to $83.00 and gave the company a “buy” rating in a report on Friday, July 26th. Twelve analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the company has an average rating of “Buy” and a consensus target price of $77.82.

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.