M&T Bank Corp Sells 8,141 Shares of Skechers U.S.A., Inc. (NYSE:SKX)

M&T Bank Corp trimmed its holdings in Skechers U.S.A., Inc. (NYSE:SKX) by 34.0% in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 15,831 shares of the textile maker’s stock after selling 8,141 shares during the period. M&T Bank Corp’s holdings in Skechers U.S.A. were worth $1,060,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. Seven Eight Capital LP boosted its holdings in Skechers U.S.A. by 126.1% in the second quarter. Seven Eight Capital LP now owns 29,419 shares of the textile maker’s stock worth $2,033,000 after purchasing an additional 16,408 shares in the last quarter. Victory Capital Management Inc. boosted its stake in shares of Skechers U.S.A. by 22.3% during the 3rd quarter. Victory Capital Management Inc. now owns 138,893 shares of the textile maker’s stock worth $9,295,000 after acquiring an additional 25,289 shares in the last quarter. Transform Wealth LLC acquired a new position in shares of Skechers U.S.A. during the 3rd quarter valued at about $7,186,000. Los Angeles Capital Management LLC bought a new position in shares of Skechers U.S.A. in the 2nd quarter valued at approximately $632,000. Finally, Charles Schwab Investment Management Inc. lifted its holdings in Skechers U.S.A. by 1.3% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,316,882 shares of the textile maker’s stock worth $88,126,000 after purchasing an additional 17,429 shares during the last quarter. Institutional investors and hedge funds own 79.96% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have commented on SKX shares. Deutsche Bank Aktiengesellschaft increased their price target on Skechers U.S.A. from $83.00 to $84.00 and gave the company a “buy” rating in a report on Friday, October 25th. Barclays raised their target price on shares of Skechers U.S.A. from $79.00 to $80.00 and gave the company an “overweight” rating in a research note on Friday, October 25th. Needham & Company LLC assumed coverage on shares of Skechers U.S.A. in a research report on Friday, November 22nd. They set a “hold” rating for the company. StockNews.com cut shares of Skechers U.S.A. from a “buy” rating to a “hold” rating in a report on Monday, November 25th. Finally, Morgan Stanley lifted their price objective on Skechers U.S.A. from $81.00 to $84.00 and gave the stock an “overweight” rating in a research note on Friday, October 25th. Three analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $77.00.

Skechers U.S.A. Price Performance

Shares of SKX stock opened at $70.35 on Monday. Skechers U.S.A., Inc. has a 12 month low of $55.67 and a 12 month high of $75.09. The company has a market capitalization of $10.62 billion, a P/E ratio of 17.33, a P/E/G ratio of 0.98 and a beta of 1.22. The stock has a 50 day moving average of $64.10 and a two-hundred day moving average of $66.17. 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. (NYSE:SKX) last issued its earnings results on Thursday, October 24th. The textile maker reported $1.26 EPS for the quarter, topping the consensus estimate of $1.15 by $0.11. The firm had revenue of $2.35 billion during the quarter, compared to analysts’ expectations of $2.31 billion. Skechers U.S.A. had a return on equity of 13.71% and a net margin of 7.19%. Skechers U.S.A.’s quarterly revenue was up 16.0% compared to the same quarter last year. During the same period last year, the business earned $0.93 earnings per share. As a group, equities analysts expect that Skechers U.S.A., Inc. will post 4.24 EPS for the current year.

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.