Venturi Wealth Management LLC Has $58,000 Holdings in Skechers U.S.A., Inc. (NYSE:SKX)

Venturi Wealth Management LLC lifted its stake in shares of Skechers U.S.A., Inc. (NYSE:SKX) by 52.9% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 864 shares of the textile maker’s stock after acquiring an additional 299 shares during the period. Venturi Wealth Management LLC’s holdings in Skechers U.S.A. were worth $58,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also made changes to their positions in the company. QRG Capital Management Inc. lifted its holdings in shares of Skechers U.S.A. by 2.0% in the first quarter. QRG Capital Management Inc. now owns 10,047 shares of the textile maker’s stock valued at $615,000 after purchasing an additional 194 shares in the last quarter. Entropy Technologies LP bought a new stake in Skechers U.S.A. in the 1st quarter valued at approximately $244,000. State Board of Administration of Florida Retirement System boosted its position in Skechers U.S.A. by 5.0% during the 1st quarter. State Board of Administration of Florida Retirement System now owns 142,091 shares of the textile maker’s stock worth $8,704,000 after acquiring an additional 6,725 shares during the last quarter. Intech Investment Management LLC grew its stake in shares of Skechers U.S.A. by 111.6% during the 1st quarter. Intech Investment Management LLC now owns 11,892 shares of the textile maker’s stock worth $729,000 after acquiring an additional 6,273 shares in the last quarter. Finally, Vanguard Group Inc. raised its holdings in shares of 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 purchasing an additional 97,666 shares during the last quarter. 79.96% of the stock is currently owned by institutional investors and hedge funds.

Skechers U.S.A. Trading Down 1.4 %

Shares of Skechers U.S.A. stock opened at $60.70 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 business has a fifty day simple moving average of $64.24 and a two-hundred day simple moving average of $66.47. Skechers U.S.A., Inc. has a 1 year low of $51.33 and a 1 year high of $75.09. The company has a market capitalization of $9.16 billion, a price-to-earnings ratio of 14.95, a P/E/G ratio of 0.85 and a beta of 1.23.

Skechers U.S.A. (NYSE:SKX) last announced its quarterly earnings data on Thursday, October 24th. The textile maker reported $1.26 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.15 by $0.11. Skechers U.S.A. had a net margin of 7.19% and a return on equity of 13.71%. The firm had revenue of $2.35 billion for the quarter, compared to the consensus estimate of $2.31 billion. During the same period in the prior year, the company posted $0.93 earnings per share. The business’s revenue for the quarter was up 16.0% on a year-over-year basis. Research analysts forecast that Skechers U.S.A., Inc. will post 4.25 EPS for the current year.

Skechers U.S.A. announced that its Board of Directors has authorized a share buyback plan on Thursday, July 25th that allows the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization allows the textile maker to buy up to 10.3% of its shares through open market purchases. Shares repurchase plans are generally an indication that the company’s board believes its stock is undervalued.

Analysts Set New Price Targets

SKX has been the subject of several recent research reports. Stifel Nicolaus increased their target price on shares of Skechers U.S.A. from $81.00 to $83.00 and gave the stock a “buy” rating in a report on Friday, July 26th. Bank of America reduced their price objective 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. TD Cowen dropped their target price on Skechers U.S.A. from $78.00 to $76.00 and set a “buy” rating on the stock in a report on Monday, October 14th. Barclays increased their price target 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. Finally, StockNews.com raised Skechers U.S.A. from a “hold” rating to a “buy” rating in a research report on Tuesday. Twelve research analysts have rated the stock with a buy rating, Based on data from MarketBeat, Skechers U.S.A. has an average rating of “Buy” and a consensus target price of $78.09.

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.