Pendal Group Ltd Trims Position in Skechers USA Inc (NYSE:SKX)

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Pendal Group Ltd decreased its position in shares of Skechers USA Inc (NYSE:SKX) by 5.3% during the 2nd quarter, according to its most recent disclosure with the SEC. The firm owned 6,149 shares of the textile maker’s stock after selling 343 shares during the period. Pendal Group Ltd’s holdings in Skechers USA were worth $194,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently made changes to their positions in SKX. Coronation Fund Managers Ltd. increased its position in shares of Skechers USA by 3.4% in the second quarter. Coronation Fund Managers Ltd. now owns 200,274 shares of the textile maker’s stock worth $6,307,000 after acquiring an additional 6,656 shares in the last quarter. Swiss National Bank increased its position in shares of Skechers USA by 2.1% in the first quarter. Swiss National Bank now owns 244,000 shares of the textile maker’s stock worth $8,201,000 after acquiring an additional 5,100 shares in the last quarter. Olstein Capital Management L.P. increased its position in shares of Skechers USA by 2.1% in the second quarter. Olstein Capital Management L.P. now owns 120,000 shares of the textile maker’s stock worth $3,779,000 after acquiring an additional 2,462 shares in the last quarter. Mizuho Securities Co. Ltd. acquired a new stake in shares of Skechers USA in the first quarter worth $134,000. Finally, James Investment Research Inc. acquired a new stake in shares of Skechers USA in the first quarter worth $693,000. 76.13% of the stock is currently owned by institutional investors and hedge funds.

In other Skechers USA news, Director Thomas Walsh sold 1,500 shares of the stock in a transaction on Thursday, July 25th. The shares were sold at an average price of $39.77, for a total transaction of $59,655.00. Following the transaction, the director now directly owns 15,500 shares in the company, valued at approximately $616,435. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Jeffrey Greenberg sold 90,000 shares of the stock in a transaction on Friday, July 19th. The shares were sold at an average price of $39.24, for a total transaction of $3,531,600.00. The disclosure for this sale can be found here. Insiders have sold a total of 184,500 shares of company stock worth $7,079,925 over the last quarter. 28.08% of the stock is currently owned by insiders.

SKX opened at $31.02 on Friday. The company has a fifty day simple moving average of $34.80 and a 200 day simple moving average of $32.24. The firm has a market cap of $4.89 billion, a price-to-earnings ratio of 16.16, a PEG ratio of 0.94 and a beta of 0.78. Skechers USA Inc has a twelve month low of $21.45 and a twelve month high of $40.50. The company has a current ratio of 2.51, a quick ratio of 1.65 and a debt-to-equity ratio of 0.43.

Skechers USA (NYSE:SKX) last posted its quarterly earnings data on Thursday, July 18th. The textile maker reported $0.49 EPS for the quarter, beating the Zacks’ consensus estimate of $0.33 by $0.16. Skechers USA had a net margin of 6.72% and a return on equity of 14.59%. The firm had revenue of $1.26 billion for the quarter, compared to the consensus estimate of $1.23 billion. During the same period in the prior year, the firm posted $0.29 EPS. The firm’s revenue was up 10.9% compared to the same quarter last year. On average, analysts forecast that Skechers USA Inc will post 2.21 earnings per share for the current fiscal year.

Several equities research analysts have recently issued reports on the stock. UBS Group increased their price objective on shares of Skechers USA to $50.00 and gave the stock a “buy” rating in a research report on Friday, July 19th. Susquehanna Bancshares increased their price objective on shares of Skechers USA from $37.00 to $42.00 and gave the stock a “positive” rating in a research report on Friday, July 19th. B. Riley reissued a “buy” rating on shares of Skechers USA in a research report on Friday, April 26th. Stifel Nicolaus increased their price objective on shares of Skechers USA from $35.00 to $44.00 and gave the stock a “buy” rating in a research report on Friday, July 19th. Finally, Wedbush raised shares of Skechers USA from a “neutral” rating to an “outperform” rating and raised their price target for the company from $31.00 to $46.00 in a report on Friday, July 19th. Three equities research analysts have rated the stock with a sell rating, five have issued a hold rating and eight have assigned a buy rating to the company. The stock has a consensus rating of “Hold” and an average price target of $38.50.

About Skechers USA

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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Institutional Ownership by Quarter for Skechers USA (NYSE:SKX)

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