Skechers U.S.A., Inc. (NYSE:SKX) Shares Acquired by Blue Trust Inc.

Blue Trust Inc. increased its holdings in shares of Skechers U.S.A., Inc. (NYSE:SKX) by 778.1% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 1,001 shares of the textile maker’s stock after purchasing an additional 887 shares during the quarter. Blue Trust Inc.’s holdings in Skechers U.S.A. were worth $69,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Bessemer Group Inc. increased its position in shares of Skechers U.S.A. by 66.7% during the first quarter. Bessemer Group Inc. now owns 410 shares of the textile maker’s stock valued at $25,000 after acquiring an additional 164 shares during the last quarter. UMB Bank n.a. increased its holdings in Skechers U.S.A. by 423.3% in the 3rd quarter. UMB Bank n.a. now owns 450 shares of the textile maker’s stock valued at $30,000 after purchasing an additional 364 shares during the last quarter. Versant Capital Management Inc raised its position in Skechers U.S.A. by 2,809.1% in the second quarter. Versant Capital Management Inc now owns 640 shares of the textile maker’s stock valued at $44,000 after purchasing an additional 618 shares during the period. 1620 Investment Advisors Inc. acquired a new position in Skechers U.S.A. during the second quarter worth $69,000. Finally, GAMMA Investing LLC boosted its position in shares of Skechers U.S.A. by 107.5% during the second quarter. GAMMA Investing LLC now owns 1,168 shares of the textile maker’s stock worth $81,000 after buying an additional 605 shares during the period. 79.96% of the stock is currently owned by hedge funds and other institutional investors.

Skechers U.S.A. Price Performance

Shares of SKX opened at $61.54 on Thursday. The firm has a market capitalization of $9.38 billion, a price-to-earnings ratio of 15.16, a PEG ratio of 0.83 and a beta of 1.22. The firm’s fifty day simple moving average is $65.68 and its 200-day simple moving average is $66.26. Skechers U.S.A., Inc. has a twelve month low of $46.06 and a twelve month high of $75.09. The company has a current ratio of 1.96, a quick ratio of 1.25 and a debt-to-equity ratio of 0.01.

Skechers U.S.A. (NYSE:SKX) last posted its earnings results on Thursday, October 24th. The textile maker reported $1.26 EPS for the quarter, beating the consensus estimate of $1.15 by $0.11. The firm had revenue of $2.35 billion for the quarter, compared to analyst estimates of $2.31 billion. Skechers U.S.A. had a return on equity of 13.71% and a net margin of 7.19%. Skechers U.S.A.’s revenue for the quarter was up 16.0% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.93 earnings per share. Equities analysts forecast that Skechers U.S.A., Inc. will post 4.2 EPS for the current fiscal year.

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

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on the company. Deutsche Bank Aktiengesellschaft boosted their price objective on Skechers U.S.A. from $83.00 to $84.00 and gave the company a “buy” rating in a report on Friday, October 25th. Wedbush increased their price target on shares of Skechers U.S.A. from $76.00 to $79.00 and gave the stock an “outperform” rating in a research report on Friday, July 26th. Morgan Stanley lifted their price objective on shares of Skechers U.S.A. from $81.00 to $84.00 and gave the company an “overweight” rating in a report on Friday, October 25th. Evercore ISI increased their target price on shares of Skechers U.S.A. from $68.00 to $72.00 and gave the stock an “outperform” rating in a report on Friday, July 26th. Finally, Bank of America dropped their price target on shares of Skechers U.S.A. from $81.00 to $80.00 and set a “buy” rating for the company in a research note on Friday, October 25th. Eleven equities research analysts have rated the stock with a buy rating, According to MarketBeat.com, Skechers U.S.A. currently has a consensus rating of “Buy” and a consensus target price of $78.09.

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.