JPMorgan Chase & Co. Increases Stake in Skechers USA Inc (SKX)

JPMorgan Chase & Co. lifted its holdings in shares of Skechers USA Inc (NYSE:SKX) by 126.6% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 1,314,408 shares of the textile maker’s stock after acquiring an additional 734,414 shares during the period. JPMorgan Chase & Co. owned 0.83% of Skechers USA worth $32,544,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also made changes to their positions in the company. Kennedy Capital Management Inc. grew its position in shares of Skechers USA by 20.5% during the second quarter. Kennedy Capital Management Inc. now owns 643,198 shares of the textile maker’s stock worth $18,974,000 after acquiring an additional 109,441 shares during the last quarter. BNP Paribas Arbitrage SA grew its position in shares of Skechers USA by 94.5% during the second quarter. BNP Paribas Arbitrage SA now owns 58,963 shares of the textile maker’s stock worth $1,739,000 after acquiring an additional 28,646 shares during the last quarter. Aristotle Fund L.P. grew its position in shares of Skechers USA by 8.2% during the second quarter. Aristotle Fund L.P. now owns 519,700 shares of the textile maker’s stock worth $15,331,000 after acquiring an additional 39,200 shares during the last quarter. UBS Asset Management Americas Inc. grew its position in shares of Skechers USA by 17.6% during the second quarter. UBS Asset Management Americas Inc. now owns 102,030 shares of the textile maker’s stock worth $3,010,000 after acquiring an additional 15,284 shares during the last quarter. Finally, Principal Financial Group Inc. grew its position in shares of Skechers USA by 3.8% during the second quarter. Principal Financial Group Inc. now owns 568,669 shares of the textile maker’s stock worth $16,776,000 after acquiring an additional 20,829 shares during the last quarter. Institutional investors and hedge funds own 70.13% of the company’s stock.

In related news, President Michael Greenberg sold 150,000 shares of Skechers USA stock in a transaction on Thursday, November 2nd. The shares were sold at an average price of $31.86, for a total value of $4,779,000.00. Following the transaction, the president now directly owns 251,679 shares in the company, valued at approximately $8,018,492.94. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Richard Siskind sold 25,500 shares of Skechers USA stock in a transaction on Tuesday, October 24th. The shares were sold at an average price of $33.40, for a total transaction of $851,700.00. The disclosure for this sale can be found here. Over the last quarter, insiders sold 461,250 shares of company stock worth $14,955,008. 38.20% of the stock is currently owned by insiders.

Skechers USA Inc (NYSE SKX) traded down $0.13 during trading hours on Wednesday, reaching $36.31. 1,314,500 shares of the company were exchanged, compared to its average volume of 2,782,333. Skechers USA Inc has a 1 year low of $22.31 and a 1 year high of $36.54. The company has a current ratio of 3.46, a quick ratio of 2.30 and a debt-to-equity ratio of 0.04. The stock has a market cap of $5,774.65, a price-to-earnings ratio of 22.63, a price-to-earnings-growth ratio of 1.53 and a beta of 0.15.

Skechers USA (NYSE:SKX) last posted its quarterly earnings data on Thursday, October 19th. The textile maker reported $0.59 earnings per share for the quarter, beating analysts’ consensus estimates of $0.43 by $0.16. Skechers USA had a net margin of 6.38% and a return on equity of 13.70%. The firm had revenue of $1.09 billion for the quarter, compared to analyst estimates of $1.07 billion. During the same period last year, the firm posted $0.42 EPS. Skechers USA’s quarterly revenue was up 16.2% on a year-over-year basis. equities research analysts anticipate that Skechers USA Inc will post 1.71 earnings per share for the current year.

A number of equities analysts have recently issued reports on the stock. Wells Fargo & Company raised their target price on shares of Skechers USA from $33.00 to $36.00 and gave the stock a “market perform” rating in a research report on Friday, October 20th. Cowen restated a “buy” rating and set a $35.00 target price on shares of Skechers USA in a research report on Friday, October 27th. Susquehanna Bancshares restated a “buy” rating and set a $46.00 target price on shares of Skechers USA in a research report on Monday, December 4th. B. Riley set a $37.00 target price on shares of Skechers USA and gave the stock a “buy” rating in a research report on Friday, October 20th. Finally, Vetr lowered shares of Skechers USA from a “buy” rating to a “hold” rating and set a $34.87 target price on the stock. in a research report on Monday, November 20th. Two equities research analysts have rated the stock with a sell rating, five have given a hold rating and nine have assigned a buy rating to the stock. The stock has a consensus rating of “Hold” and an average target price of $36.80.

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Skechers USA Profile

Skechers U.SA, Inc is a designer and marketer of Skechers-branded lifestyle footwear for men, women and children, and performance footwear for men and women under the Skechers GO brand name. The Company operates through three segments: domestic wholesale sales, international wholesale sales, and retail sales, which includes e-commerce sales.

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

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