Aptus Capital Advisors LLC Sells 16,235 Shares of Skechers U.S.A., Inc. (NYSE:SKX)

Aptus Capital Advisors LLC lowered its stake in Skechers U.S.A., Inc. (NYSE:SKX) by 50.2% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 16,093 shares of the textile maker’s stock after selling 16,235 shares during the quarter. Aptus Capital Advisors LLC’s holdings in Skechers U.S.A. were worth $1,077,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in the stock. Bessemer Group Inc. increased its stake 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 in the last quarter. UMB Bank n.a. grew its holdings in shares of Skechers U.S.A. by 423.3% in the 3rd quarter. UMB Bank n.a. now owns 450 shares of the textile maker’s stock valued at $30,000 after buying an additional 364 shares during the period. Versant Capital Management Inc increased its position in shares of Skechers U.S.A. by 2,809.1% in the 2nd quarter. Versant Capital Management Inc now owns 640 shares of the textile maker’s stock valued at $44,000 after buying an additional 618 shares in the last quarter. Venturi Wealth Management LLC raised its stake in Skechers U.S.A. by 52.9% during the 3rd quarter. Venturi Wealth Management LLC now owns 864 shares of the textile maker’s stock worth $58,000 after buying an additional 299 shares during the period. Finally, 1620 Investment Advisors Inc. bought a new position in Skechers U.S.A. during the second quarter worth about $69,000. 79.96% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on SKX. TD Cowen lowered their price target on Skechers U.S.A. from $78.00 to $76.00 and set a “buy” rating for the company in a report on Monday, October 14th. Bank of America dropped their target price on shares of Skechers U.S.A. from $81.00 to $80.00 and set a “buy” rating on the stock in a report on Friday, October 25th. StockNews.com raised shares of Skechers U.S.A. from a “hold” rating to a “buy” rating in a research note on Tuesday. Deutsche Bank Aktiengesellschaft increased their price objective on shares of Skechers U.S.A. from $83.00 to $84.00 and gave the stock a “buy” rating in a research report on Friday, October 25th. Finally, Morgan Stanley boosted their price objective on shares of Skechers U.S.A. from $81.00 to $84.00 and gave the company an “overweight” rating in a research report on Friday, October 25th. Twelve analysts have rated the stock with a buy rating, Based on data from MarketBeat, the company presently has a consensus rating of “Buy” and an average target price of $78.09.

Skechers U.S.A. Stock Up 0.8 %

Shares of SKX stock opened at $61.57 on Friday. The firm’s fifty day moving average price is $64.36 and its two-hundred day moving average price is $66.51. The company has a current ratio of 1.96, a quick ratio of 1.25 and a debt-to-equity ratio of 0.01. Skechers U.S.A., Inc. has a 1 year low of $51.26 and a 1 year high of $75.09. The firm has a market capitalization of $9.30 billion, a P/E ratio of 15.17, a PEG ratio of 0.84 and a beta of 1.23.

Skechers U.S.A. (NYSE:SKX) last released its earnings results on Thursday, October 24th. The textile maker reported $1.26 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.15 by $0.11. Skechers U.S.A. had a return on equity of 13.71% and a net margin of 7.19%. The business had revenue of $2.35 billion for the quarter, compared to the consensus estimate of $2.31 billion. During the same quarter in the previous year, the business earned $0.93 earnings per share. Skechers U.S.A.’s quarterly revenue was up 16.0% on a year-over-year basis. On average, equities analysts predict that Skechers U.S.A., Inc. will post 4.25 EPS for the current fiscal year.

Skechers U.S.A. declared that its board has authorized a stock repurchase plan on Thursday, July 25th that permits the company to repurchase $1.00 billion in shares. This repurchase authorization permits the textile maker to repurchase up to 10.3% of its shares through open market purchases. Shares repurchase plans are usually a sign that the company’s management believes its shares are undervalued.

Skechers U.S.A. Company 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.