Kestra Investment Management LLC Has $1.69 Million Position in Skechers U.S.A., Inc. $SKX

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 increased its stake in Skechers U.S.A., Inc. (NYSE:SKX - Free Report) by 59.8% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 29,743 shares of the textile maker's stock after purchasing an additional 11,134 shares during the quarter. Kestra Investment Management LLC's holdings in Skechers U.S.A. were worth $1,689,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently bought and sold shares of the stock. HB Wealth Management LLC increased its stake in Skechers U.S.A. by 4.3% in the 1st quarter. HB Wealth Management LLC now owns 4,107 shares of the textile maker's stock worth $233,000 after purchasing an additional 168 shares in the last quarter. National Bank of Canada FI increased its stake in Skechers U.S.A. by 8.5% in the 1st quarter. National Bank of Canada FI now owns 2,400 shares of the textile maker's stock worth $136,000 after purchasing an additional 189 shares in the last quarter. PNC Financial Services Group Inc. increased its stake in Skechers U.S.A. by 2.8% in the 1st quarter. PNC Financial Services Group Inc. now owns 7,551 shares of the textile maker's stock worth $429,000 after purchasing an additional 204 shares in the last quarter. Delphi Management Inc. MA increased its stake in Skechers U.S.A. by 1.0% in the 1st quarter. Delphi Management Inc. MA now owns 22,797 shares of the textile maker's stock worth $1,294,000 after purchasing an additional 236 shares in the last quarter. Finally, Cim LLC increased its stake in Skechers U.S.A. by 1.7% in the 4th quarter. Cim LLC now owns 19,271 shares of the textile maker's stock worth $1,296,000 after purchasing an additional 316 shares in the last quarter. Hedge funds and other institutional investors own 79.96% of the company's stock.

Skechers U.S.A. Stock Down 0.0%

Shares of NYSE SKX traded down $0.03 during trading hours on Friday, hitting $63.18. The stock had a trading volume of 41,053,579 shares, compared to its average volume of 2,682,309. The company has a market capitalization of $9.49 billion, a P/E ratio of 14.42 and a beta of 1.19. The firm's 50-day moving average price is $63.11 and its two-hundred day moving average price is $59.46. Skechers U.S.A., Inc. has a 52 week low of $44.50 and a 52 week 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.

Skechers U.S.A. (NYSE:SKX - Get Free Report) last announced its quarterly earnings results on Friday, August 8th. The textile maker reported $1.13 EPS for the quarter, beating the consensus estimate of $0.86 by $0.27. The business had revenue of $2.44 billion during the quarter, compared to analysts' expectations of $2.35 billion. Skechers U.S.A. had a return on equity of 13.44% and a net margin of 7.07%.The firm's quarterly revenue was up 13.1% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.91 EPS. Analysts anticipate that Skechers U.S.A., Inc. will post 4.47 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on SKX. Argus cut Skechers U.S.A. from a "buy" rating to a "hold" rating and set a $63.00 price target on the stock. in a research note on Tuesday, August 26th. Wall Street Zen raised Skechers U.S.A. to a "hold" rating in a research note on Saturday, August 30th. TD Cowen cut 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 note on Wednesday, May 28th. Zacks Research raised Skechers U.S.A. from a "hold" rating to a "strong-buy" rating in a research note on Tuesday, August 26th. Finally, Needham & Company LLC reaffirmed a "hold" rating on shares of Skechers U.S.A. in a research note on Wednesday, August 27th. One research 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, the company has an average rating of "Hold" and an average price target of $66.46.

About Skechers U.S.A.

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.