Geode Capital Management LLC Acquires 11,026 Shares of Skechers U.S.A., Inc. (NYSE:SKX)

Geode Capital Management LLC grew its stake in shares of Skechers U.S.A., Inc. (NYSE:SKX) by 0.5% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 2,216,905 shares of the textile maker’s stock after purchasing an additional 11,026 shares during the quarter. Geode Capital Management LLC owned approximately 1.47% of Skechers U.S.A. worth $148,395,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in the stock. Pacer Advisors Inc. boosted its position in Skechers U.S.A. by 5,780.6% in the 3rd quarter. Pacer Advisors Inc. now owns 2,639,390 shares of the textile maker’s stock valued at $176,628,000 after buying an additional 2,594,507 shares during the period. Dimensional Fund Advisors LP raised its stake in shares of Skechers U.S.A. by 3.0% during the second quarter. Dimensional Fund Advisors LP now owns 1,885,723 shares of the textile maker’s stock valued at $130,350,000 after acquiring an additional 55,095 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its holdings in shares of Skechers U.S.A. by 1.3% in the third quarter. Charles Schwab Investment Management Inc. now owns 1,316,882 shares of the textile maker’s stock valued at $88,126,000 after purchasing an additional 17,429 shares during the period. Wellington Management Group LLP grew its stake in Skechers U.S.A. by 39.0% in the third quarter. Wellington Management Group LLP now owns 1,025,556 shares of the textile maker’s stock worth $68,630,000 after purchasing an additional 287,939 shares in the last quarter. Finally, Loomis Sayles & Co. L P increased its holdings in Skechers U.S.A. by 7.1% during the 3rd quarter. Loomis Sayles & Co. L P now owns 752,067 shares of the textile maker’s stock worth $50,328,000 after purchasing an additional 49,734 shares during the period. 79.96% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on SKX shares. TD Cowen dropped their price target on Skechers U.S.A. from $78.00 to $76.00 and set a “buy” rating on the stock in a research report on Monday, October 14th. Needham & Company LLC started coverage on shares of Skechers U.S.A. in a research report on Friday, November 22nd. They set a “hold” rating on the stock. Piper Sandler began coverage on shares of Skechers U.S.A. in a research report on Tuesday, December 10th. They issued a “neutral” rating and a $65.00 price target for the company. StockNews.com lowered shares of Skechers U.S.A. from a “buy” rating to a “hold” rating in a report on Monday, November 25th. Finally, Bank of America lowered their target price on Skechers U.S.A. from $81.00 to $80.00 and set a “buy” rating for the company in a report on Friday, October 25th. Three investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $77.00.

Skechers U.S.A. Stock Down 3.0 %

Shares of SKX stock opened at $68.23 on Tuesday. The stock’s fifty day moving average price is $64.14 and its 200 day moving average price is $66.15. The company has a debt-to-equity ratio of 0.01, a current ratio of 1.96 and a quick ratio of 1.25. Skechers U.S.A., Inc. has a 1-year low of $55.67 and a 1-year high of $75.09. The company has a market cap of $10.30 billion, a price-to-earnings ratio of 16.80, a price-to-earnings-growth ratio of 0.98 and a beta of 1.22.

Skechers U.S.A. (NYSE:SKX) last issued its quarterly earnings results on Thursday, October 24th. The textile maker reported $1.26 earnings per share for the quarter, topping analysts’ consensus estimates of $1.15 by $0.11. The business had revenue of $2.35 billion for the quarter, compared to analyst estimates of $2.31 billion. Skechers U.S.A. had a return on equity of 13.71% and a net margin of 7.19%. The company’s revenue was up 16.0% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.93 earnings per share. On average, research analysts expect that Skechers U.S.A., Inc. will post 4.24 earnings per share 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.