Skechers U.S.A., Inc. $SKX Stock Holdings Lifted by Kestra Investment Management LLC

Key Points

• Kestra Investment Management LLC increased its stake in Skechers U.S.A. by 59.8% during the first quarter, owning 29,743 shares worth approximately $1.69 million.
• Analysts have mixed views on Skechers, with a consensus rating of "Hold" and an average price target of $66.46, while several firms have downgraded their ratings.
• Skechers reported $1.13 EPS in its latest earnings, exceeding the consensus estimate of $0.86, and a revenue of $2.44 billion, surpassing expectations of $2.35 billion.

Kestra Investment Management LLC lifted its position in shares of Skechers U.S.A., Inc. (NYSE:SKX - Free Report) by 59.8% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 29,743 shares of the textile maker's stock after acquiring an additional 11,134 shares during the period. Kestra Investment Management LLC's holdings in Skechers U.S.A. were worth $1,689,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in the business. Banque Transatlantique SA acquired a new stake in shares of Skechers U.S.A. during the first quarter worth $26,000. Investment Management Corp VA ADV bought a new stake in shares of Skechers U.S.A. during the 4th quarter valued at about $32,000. Parallel Advisors LLC raised its stake in Skechers U.S.A. by 183.0% during the first quarter. Parallel Advisors LLC now owns 617 shares of the textile maker's stock worth $35,000 after acquiring an additional 399 shares during the period. Golden State Wealth Management LLC acquired a new stake in Skechers U.S.A. during the first quarter worth about $35,000. Finally, Abound Financial LLC bought a new position in Skechers U.S.A. in the first quarter worth about $35,000. Institutional investors and hedge funds own 79.96% of the company's stock.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on SKX shares. Wall Street Zen upgraded Skechers U.S.A. to a "hold" rating in a research report on Saturday, August 30th. Argus lowered Skechers U.S.A. from a "buy" rating to a "hold" rating and set a $63.00 target price on the stock. in a research report on Tuesday, August 26th. Needham & Company LLC reiterated a "hold" rating on shares of Skechers U.S.A. in a research note on Wednesday, August 27th. Zacks Research upgraded shares of Skechers U.S.A. from a "hold" rating to a "strong-buy" rating in a research report on Tuesday, August 26th. Finally, TD Cowen cut shares of Skechers U.S.A. from a "buy" rating to a "hold" rating and set a $63.00 price objective on the stock. in a report on Wednesday, May 28th. One analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and nine have given a Hold rating to the stock. According to MarketBeat.com, Skechers U.S.A. presently has an average rating of "Hold" and a consensus price target of $66.46.

Skechers U.S.A. Price Performance

Shares of SKX stock traded down $0.06 during mid-day trading on Wednesday, hitting $63.21. 1,417,853 shares of the stock traded hands, compared to its average volume of 4,409,553. Skechers U.S.A., Inc. has a twelve month low of $44.50 and a twelve month high of $78.85. The company has a debt-to-equity ratio of 0.02, a quick ratio of 1.29 and a current ratio of 2.09. The company's 50-day simple moving average is $63.11 and its 200-day simple moving average is $59.45. The firm has a market cap of $9.50 billion, a price-to-earnings ratio of 14.43 and a beta of 1.19.

Skechers U.S.A. (NYSE:SKX - Get Free Report) last issued its quarterly earnings results on Friday, August 8th. The textile maker reported $1.13 earnings per share for the quarter, beating analysts' consensus estimates of $0.86 by $0.27. The company had revenue of $2.44 billion during the quarter, compared to the consensus estimate of $2.35 billion. Skechers U.S.A. had a net margin of 7.07% and a return on equity of 13.44%. Skechers U.S.A.'s revenue was up 13.1% on a year-over-year basis. During the same period in the prior year, the company earned $0.91 EPS. As a group, equities research analysts expect that Skechers U.S.A., Inc. will post 4.47 earnings per share for the current 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.