Skechers U.S.A., Inc. (NYSE:SKX) Shares Sold by Rockefeller Capital Management L.P.

Rockefeller Capital Management L.P. cut its holdings in shares of Skechers U.S.A., Inc. (NYSE:SKX) by 81.5% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 51,579 shares of the textile maker’s stock after selling 226,846 shares during the quarter. Rockefeller Capital Management L.P.’s holdings in Skechers U.S.A. were worth $3,452,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in the business. UMB Bank n.a. increased its position in shares of Skechers U.S.A. by 423.3% during the third quarter. UMB Bank n.a. now owns 450 shares of the textile maker’s stock worth $30,000 after acquiring an additional 364 shares during the period. Venturi Wealth Management LLC increased its holdings in Skechers U.S.A. by 52.9% during the 3rd quarter. Venturi Wealth Management LLC now owns 864 shares of the textile maker’s stock worth $58,000 after purchasing an additional 299 shares during the period. Blue Trust Inc. grew its position in shares of Skechers U.S.A. by 778.1% during the third quarter. Blue Trust Inc. now owns 1,001 shares of the textile maker’s stock worth $69,000 after buying an additional 887 shares in the last quarter. 1620 Investment Advisors Inc. acquired a new stake in Skechers U.S.A. in the second quarter valued at approximately $69,000. Finally, Brooklyn Investment Group purchased a new position in Skechers U.S.A. in the third quarter worth approximately $67,000. 79.96% of the stock is currently owned by institutional investors and hedge funds.

Skechers U.S.A. Price Performance

Skechers U.S.A. stock opened at $70.28 on Friday. The company has a debt-to-equity ratio of 0.01, a current ratio of 1.96 and a quick ratio of 1.25. The stock has a market capitalization of $10.61 billion, a PE ratio of 17.31, a price-to-earnings-growth ratio of 0.96 and a beta of 1.22. The business has a 50 day simple moving average of $63.65 and a 200-day simple moving average of $66.11. Skechers U.S.A., Inc. has a 12 month low of $55.67 and a 12 month high of $75.09.

Skechers U.S.A. (NYSE:SKX) last released its earnings results on Thursday, October 24th. The textile maker reported $1.26 EPS for the quarter, beating analysts’ consensus estimates of $1.15 by $0.11. Skechers U.S.A. had a return on equity of 13.71% and a net margin of 7.19%. The company had revenue of $2.35 billion during the quarter, compared to the consensus estimate of $2.31 billion. During the same quarter last year, the company earned $0.93 earnings per share. Skechers U.S.A.’s quarterly revenue was up 16.0% compared to the same quarter last year. Equities analysts predict that Skechers U.S.A., Inc. will post 4.25 earnings per share for the current year.

Analysts Set New Price Targets

A number of brokerages recently commented on SKX. Morgan Stanley boosted their target price on shares of Skechers U.S.A. from $81.00 to $84.00 and gave the stock an “overweight” rating in a research note on Friday, October 25th. Deutsche Bank Aktiengesellschaft upped their price target 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. Bank of America cut their price objective on shares of Skechers U.S.A. from $81.00 to $80.00 and set a “buy” rating on the stock in a report on Friday, October 25th. Barclays increased their target price on shares of Skechers U.S.A. from $79.00 to $80.00 and gave the company an “overweight” rating in a research report on Friday, October 25th. Finally, TD Cowen reduced their price target on shares of Skechers U.S.A. from $78.00 to $76.00 and set a “buy” rating for the company in a research report on Monday, October 14th. Two research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $78.09.

Skechers U.S.A. 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.