Janus Henderson Group PLC Has $3.91 Million Stake in Skechers U.S.A., Inc. (NYSE:SKX)

Janus Henderson Group PLC reduced its stake in Skechers U.S.A., Inc. (NYSE:SKX) by 2.5% in the 3rd quarter, according to the company in its most recent filing with the SEC. The fund owned 58,430 shares of the textile maker’s stock after selling 1,501 shares during the quarter. Janus Henderson Group PLC’s holdings in Skechers U.S.A. were worth $3,911,000 at the end of the most recent reporting period.

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

Analysts Set New Price Targets

Several equities analysts recently weighed in on SKX shares. Needham & Company LLC began coverage on Skechers U.S.A. in a research note on Friday, November 22nd. They set a “hold” rating for the company. Barclays increased their price objective on 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. 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 report on Friday, October 25th. 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 report on Monday, October 14th. Finally, Piper Sandler initiated coverage on shares of Skechers U.S.A. in a report on Tuesday. They set a “neutral” rating and a $65.00 price objective on the stock. Three investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $77.00.

Skechers U.S.A. Trading Down 2.3 %

Shares of SKX opened at $70.37 on Wednesday. The stock has a 50 day simple moving average of $63.81 and a 200-day simple moving average of $66.13. The company has a current ratio of 1.96, a quick ratio of 1.25 and a debt-to-equity ratio of 0.01. The stock has a market cap of $10.62 billion, a PE ratio of 17.34, a PEG ratio of 0.99 and a beta of 1.22. Skechers U.S.A., Inc. has a 1 year low of $55.67 and a 1 year high of $75.09.

Skechers U.S.A. (NYSE:SKX) last issued its quarterly earnings data on Thursday, October 24th. The textile maker reported $1.26 earnings per share (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 analysts’ expectations of $2.31 billion. During the same period last year, the business earned $0.93 earnings per share. The business’s revenue was up 16.0% on a year-over-year basis. On average, sell-side analysts predict that Skechers U.S.A., Inc. will post 4.25 EPS for the current fiscal year.

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.