Bank of Montreal Can decreased its stake in shares of Skechers USA Inc (NYSE:SKX) by 27.3% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 68,977 shares of the textile maker’s stock after selling 25,868 shares during the quarter. Bank of Montreal Can’s holdings in Skechers USA were worth $1,927,000 at the end of the most recent quarter.
Other large investors also recently made changes to their positions in the company. US Bancorp DE raised its stake in Skechers USA by 169.5% during the second quarter. US Bancorp DE now owns 4,069 shares of the textile maker’s stock valued at $122,000 after buying an additional 2,559 shares during the last quarter. NumerixS Investment Technologies Inc purchased a new position in Skechers USA during the second quarter valued at $141,000. Strs Ohio purchased a new position in Skechers USA during the second quarter valued at $184,000. Creative Planning purchased a new position in Skechers USA during the second quarter valued at $211,000. Finally, Intact Investment Management Inc. raised its stake in Skechers USA by 34.5% during the second quarter. Intact Investment Management Inc. now owns 7,400 shares of the textile maker’s stock valued at $222,000 after buying an additional 1,900 shares during the last quarter. Institutional investors and hedge funds own 69.55% of the company’s stock.
Skechers USA stock opened at $28.95 on Friday. The firm has a market capitalization of $4.80 billion, a price-to-earnings ratio of 16.26, a price-to-earnings-growth ratio of 2.36 and a beta of 0.39. Skechers USA Inc has a 12 month low of $23.80 and a 12 month high of $43.08. The company has a debt-to-equity ratio of 0.03, a current ratio of 3.43 and a quick ratio of 2.29.
Skechers USA (NYSE:SKX) last issued its quarterly earnings data on Thursday, October 18th. The textile maker reported $0.58 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.51 by $0.07. Skechers USA had a return on equity of 13.81% and a net margin of 4.13%. The company had revenue of $1.18 billion during the quarter, compared to analyst estimates of $1.22 billion. During the same quarter in the previous year, the company posted $0.59 earnings per share. Skechers USA’s revenue was up 7.5% compared to the same quarter last year. Equities research analysts forecast that Skechers USA Inc will post 1.83 earnings per share for the current year.
In related news, President Michael Greenberg sold 75,630 shares of Skechers USA stock in a transaction on Friday, November 2nd. The stock was sold at an average price of $29.28, for a total value of $2,214,446.40. Following the completion of the sale, the president now owns 593,309 shares of the company’s stock, valued at $17,372,087.52. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 27.88% of the company’s stock.
A number of research firms have commented on SKX. Zacks Investment Research raised Skechers USA from a “sell” rating to a “hold” rating in a report on Friday, July 20th. Standpoint Research raised Skechers USA from a “hold” rating to a “buy” rating in a report on Friday, July 20th. UBS Group lowered Skechers USA from a “positive” rating to a “neutral” rating and reduced their target price for the stock from $41.00 to $37.00 in a report on Friday, July 20th. Wells Fargo & Co lowered Skechers USA from an “outperform” rating to a “market perform” rating and set a $36.00 target price for the company. in a report on Friday, July 20th. Finally, Argus lowered Skechers USA from a “buy” rating to a “hold” rating in a report on Thursday, July 26th. One research analyst has rated the stock with a sell rating, nine have assigned a hold rating and six have issued a buy rating to the company’s stock. The company has a consensus rating of “Hold” and an average price target of $34.79.
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Skechers USA Profile
Skechers U.SA, Inc designs, develops, markets, and distributes footwear for men, women, and children; and performance footwear for men and women under the Skechers GO brand worldwide. It operates through three segments: Domestic Wholesale Sales, International Wholesale Sales, and Retail Sales. The company offers casual boots, shoes, and sandals for men; shoes, oxfords and slip-ons, lug outsole and fashion boots, and casual sandals for women; dress casuals, seasonal sandals and boots, classic and wide fit, and relaxed fit casuals for men and women; and casual athletic line for men and women under the Skechers USA brand.
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