Riverhead Capital Management LLC Has $1.06 Million Position in Skechers USA Inc (SKX)

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Riverhead Capital Management LLC increased its position in Skechers USA Inc (NYSE:SKX) by 11.1% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 35,326 shares of the textile maker’s stock after acquiring an additional 3,539 shares during the quarter. Riverhead Capital Management LLC’s holdings in Skechers USA were worth $1,060,000 at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in the stock. Buckingham Capital Management Inc. boosted its stake in Skechers USA by 71.1% in the 1st quarter. Buckingham Capital Management Inc. now owns 9,995 shares of the textile maker’s stock worth $389,000 after purchasing an additional 4,155 shares during the period. Principal Financial Group Inc. boosted its stake in Skechers USA by 4.7% in the 1st quarter. Principal Financial Group Inc. now owns 600,758 shares of the textile maker’s stock worth $23,363,000 after purchasing an additional 27,185 shares during the period. Olstein Capital Management L.P. boosted its stake in Skechers USA by 94.2% in the 2nd quarter. Olstein Capital Management L.P. now owns 301,650 shares of the textile maker’s stock worth $9,053,000 after purchasing an additional 146,350 shares during the period. Royal Bank of Canada boosted its stake in Skechers USA by 617.7% in the 1st quarter. Royal Bank of Canada now owns 291,018 shares of the textile maker’s stock worth $11,318,000 after purchasing an additional 250,470 shares during the period. Finally, KBC Group NV boosted its stake in Skechers USA by 501.3% in the 2nd quarter. KBC Group NV now owns 925,140 shares of the textile maker’s stock worth $27,763,000 after purchasing an additional 771,275 shares during the period. 70.92% of the stock is owned by institutional investors.

SKX has been the subject of several recent analyst reports. Citigroup dropped their price target on Skechers USA from $44.00 to $35.00 and set a “$27.32” rating for the company in a research note on Monday, July 23rd. Standpoint Research upgraded Skechers USA from a “hold” rating to a “buy” rating in a research note on Friday, July 20th. Buckingham Research dropped their price target on Skechers USA from $42.00 to $31.00 and set a “buy” rating for the company in a research note on Friday, July 20th. Monness Crespi & Hardt lowered their target price on Skechers USA from $45.00 to $32.00 and set a “buy” rating for the company in a research report on Friday, July 20th. Finally, ValuEngine upgraded Skechers USA from a “hold” rating to a “buy” rating in a research report on Thursday, July 19th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and six have given a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and a consensus price target of $37.79.

NYSE SKX opened at $28.69 on Thursday. The company has a quick ratio of 2.14, a current ratio of 3.28 and a debt-to-equity ratio of 0.03. The company has a market cap of $4.70 billion, a PE ratio of 16.02, a PEG ratio of 1.70 and a beta of 0.34. Skechers USA Inc has a one year low of $23.80 and a one year high of $43.08.

Skechers USA (NYSE:SKX) last posted its earnings results on Thursday, July 19th. The textile maker reported $0.29 EPS for the quarter, missing analysts’ consensus estimates of $0.41 by ($0.12). The firm had revenue of $1.13 billion for the quarter, compared to the consensus estimate of $1.13 billion. Skechers USA had a net margin of 4.24% and a return on equity of 14.17%. The firm’s revenue was up 10.6% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.38 earnings per share. sell-side analysts expect that Skechers USA Inc will post 1.73 EPS for the current year.

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

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