Bokf Na Reduces Position in Skechers U.S.A., Inc. (NYSE:SKX)

Bokf Na lowered its stake in shares of Skechers U.S.A., Inc. (NYSE:SKX) by 1.5% during the first quarter, Holdings Channel reports. The fund owned 15,851 shares of the textile maker’s stock after selling 249 shares during the quarter. Bokf Na’s holdings in Skechers U.S.A. were worth $972,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Redmont Wealth Advisors LLC purchased a new stake in shares of Skechers U.S.A. during the first quarter worth about $25,000. Bessemer Group Inc. grew its holdings in Skechers U.S.A. by 66.7% in the first quarter. Bessemer Group Inc. now owns 410 shares of the textile maker’s stock valued at $25,000 after purchasing an additional 164 shares during the period. GAMMA Investing LLC acquired a new position in Skechers U.S.A. during the fourth quarter worth approximately $36,000. Game Plan Financial Advisors LLC purchased a new position in Skechers U.S.A. during the first quarter worth approximately $43,000. Finally, Sunbelt Securities Inc. acquired a new position in shares of Skechers U.S.A. in the 1st quarter valued at $45,000. Hedge funds and other institutional investors own 79.96% of the company’s stock.

Skechers U.S.A. Stock Down 0.6 %

SKX traded down $0.41 during trading hours on Monday, reaching $64.31. 462,314 shares of the stock traded hands, compared to its average volume of 1,767,640. Skechers U.S.A., Inc. has a fifty-two week low of $45.58 and a fifty-two week high of $75.09. The company has a market cap of $9.81 billion, a price-to-earnings ratio of 17.03, a PEG ratio of 0.90 and a beta of 1.25. The company has a debt-to-equity ratio of 0.01, a current ratio of 2.06 and a quick ratio of 1.33. The firm’s fifty day simple moving average is $69.15 and its two-hundred day simple moving average is $64.15.

Skechers U.S.A. (NYSE:SKX) last announced its earnings results on Thursday, July 25th. The textile maker reported $0.91 earnings per share for the quarter, missing the consensus estimate of $0.95 by ($0.04). Skechers U.S.A. had a net margin of 6.90% and a return on equity of 13.04%. The business had revenue of $2.16 billion for the quarter, compared to analyst estimates of $2.24 billion. During the same quarter in the prior year, the business earned $0.98 earnings per share. The firm’s revenue was up 7.3% on a year-over-year basis. As a group, analysts forecast that Skechers U.S.A., Inc. will post 4.18 earnings per share for the current fiscal year.

Insider Activity at Skechers U.S.A.

In other Skechers U.S.A. news, General Counsel Phillip Paccione sold 423 shares of the stock in a transaction that occurred on Tuesday, June 4th. The stock was sold at an average price of $69.45, for a total transaction of $29,377.35. Following the transaction, the general counsel now owns 35,000 shares of the company’s stock, valued at approximately $2,430,750. The transaction was disclosed in a document filed with the SEC, which is available at this link. 24.75% of the stock is owned by corporate insiders.

Analyst Ratings Changes

Several research analysts recently weighed in on the company. Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating and issued a $82.00 target price on shares of Skechers U.S.A. in a research report on Thursday, June 13th. Barclays raised their price objective on Skechers U.S.A. from $78.00 to $79.00 and gave the stock an “overweight” rating in a report on Friday. Wedbush boosted their target price on Skechers U.S.A. from $76.00 to $79.00 and gave the stock an “outperform” rating in a report on Friday. Stifel Nicolaus raised their price target on shares of Skechers U.S.A. from $81.00 to $83.00 and gave the company a “buy” rating in a report on Friday. Finally, Wells Fargo & Company initiated coverage on shares of 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. Thirteen research analysts have rated the stock with a buy rating, According to MarketBeat.com, Skechers U.S.A. has a consensus rating of “Buy” and an average target price of $76.75.

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.