Baker Ellis Asset Management LLC Sells 2,335 Shares of Skechers U.S.A., Inc. (NYSE:SKX)

Baker Ellis Asset Management LLC lessened its holdings in shares of Skechers U.S.A., Inc. (NYSE:SKX) by 2.7% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 83,635 shares of the textile maker’s stock after selling 2,335 shares during the period. Baker Ellis Asset Management LLC owned approximately 0.05% of Skechers U.S.A. worth $5,123,000 at the end of the most recent quarter.

Several other institutional investors have also modified their holdings of SKX. Pacer Advisors Inc. lifted its holdings in shares of Skechers U.S.A. by 6,521.5% during the 4th quarter. Pacer Advisors Inc. now owns 1,456,599 shares of the textile maker’s stock valued at $90,804,000 after purchasing an additional 1,434,601 shares in the last quarter. Norges Bank bought a new position in shares of Skechers U.S.A. during the 4th quarter valued at about $75,194,000. Vaughan Nelson Investment Management L.P. lifted its stake in Skechers U.S.A. by 371.8% in the 4th quarter. Vaughan Nelson Investment Management L.P. now owns 758,469 shares of the textile maker’s stock valued at $47,282,000 after acquiring an additional 597,702 shares in the last quarter. AQR Capital Management LLC lifted its stake in Skechers U.S.A. by 72.8% in the 3rd quarter. AQR Capital Management LLC now owns 1,311,246 shares of the textile maker’s stock valued at $64,185,000 after acquiring an additional 552,452 shares in the last quarter. Finally, Invesco Ltd. lifted its stake in Skechers U.S.A. by 138.2% in the 3rd quarter. Invesco Ltd. now owns 770,710 shares of the textile maker’s stock valued at $37,726,000 after acquiring an additional 447,192 shares in the last quarter. Institutional investors own 79.96% of the company’s stock.

Skechers U.S.A. Stock Performance

Shares of SKX stock traded down $0.72 during trading on Friday, reaching $69.12. 3,022,233 shares of the company’s stock were exchanged, compared to its average volume of 1,931,391. The company has a quick ratio of 1.56, a current ratio of 2.39 and a debt-to-equity ratio of 0.02. The stock has a market capitalization of $10.54 billion, a PE ratio of 18.19, a PEG ratio of 1.00 and a beta of 1.28. Skechers U.S.A., Inc. has a twelve month low of $45.58 and a twelve month high of $75.09. The firm’s fifty day moving average price is $68.94 and its 200-day moving average price is $63.60.

Skechers U.S.A. (NYSE:SKX) last posted its earnings results on Thursday, April 25th. The textile maker reported $1.33 earnings per share for the quarter, topping analysts’ consensus estimates of $1.10 by $0.23. The business had revenue of $2.25 billion for the quarter, compared to analyst estimates of $2.20 billion. Skechers U.S.A. had a return on equity of 13.56% and a net margin of 7.17%. The firm’s revenue was up 12.5% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.02 EPS. As a group, sell-side analysts anticipate that Skechers U.S.A., Inc. will post 4.08 EPS for the current year.

Insider Buying and Selling at Skechers U.S.A.

In other Skechers U.S.A. news, General Counsel Phillip Paccione sold 423 shares of the company’s stock in a transaction on Tuesday, June 4th. The stock was sold at an average price of $69.45, for a total value of $29,377.35. Following the transaction, the general counsel now directly owns 35,000 shares of the company’s stock, valued at approximately $2,430,750. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 24.75% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have commented on SKX. Wedbush restated an “outperform” rating and issued a $76.00 target price on shares of Skechers U.S.A. in a research note on Friday, May 17th. Stifel Nicolaus boosted their target price on Skechers U.S.A. from $74.00 to $81.00 and gave the company a “buy” rating in a research note on Tuesday, May 28th. Evercore ISI cut their target price on Skechers U.S.A. from $73.00 to $68.00 and set an “outperform” rating on the stock in a research note on Wednesday, April 17th. Barclays initiated coverage on Skechers U.S.A. in a research report on Monday, April 1st. They set an “overweight” rating and a $71.00 price target on the stock. Finally, Wells Fargo & Company initiated coverage on Skechers U.S.A. in a research report on Wednesday, June 12th. They set an “overweight” rating and a $83.00 price target on the stock. One equities research analyst has rated the stock with a hold rating and thirteen have given a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $72.00.

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.