Shelton Capital Management Has $348,000 Holdings in Skechers U.S.A., Inc. (NYSE:SKX)

Shelton Capital Management decreased its position in shares of Skechers U.S.A., Inc. (NYSE:SKX) by 2.9% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 6,616 shares of the textile maker’s stock after selling 195 shares during the quarter. Shelton Capital Management’s holdings in Skechers U.S.A. were worth $348,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of SKX. State Street Corp boosted its stake in shares of Skechers U.S.A. by 3.4% during the third quarter. State Street Corp now owns 4,778,584 shares of the textile maker’s stock valued at $151,577,000 after purchasing an additional 157,862 shares in the last quarter. Price T Rowe Associates Inc. MD grew its holdings in Skechers U.S.A. by 6.3% during the 2nd quarter. Price T Rowe Associates Inc. MD now owns 2,784,301 shares of the textile maker’s stock worth $99,065,000 after acquiring an additional 165,147 shares during the last quarter. Capital Research Global Investors raised its stake in shares of Skechers U.S.A. by 4.8% during the first quarter. Capital Research Global Investors now owns 2,200,000 shares of the textile maker’s stock valued at $89,672,000 after acquiring an additional 100,000 shares during the last quarter. Dimensional Fund Advisors LP lifted its holdings in shares of Skechers U.S.A. by 9.2% during the first quarter. Dimensional Fund Advisors LP now owns 2,145,473 shares of the textile maker’s stock worth $87,454,000 after purchasing an additional 181,445 shares during the period. Finally, Bank of New York Mellon Corp lifted its holdings in shares of Skechers U.S.A. by 7.0% during the first quarter. Bank of New York Mellon Corp now owns 2,004,379 shares of the textile maker’s stock worth $95,248,000 after purchasing an additional 131,030 shares during the period. Institutional investors own 80.54% of the company’s stock.

Skechers U.S.A. Stock Performance

Shares of SKX opened at $54.48 on Tuesday. Skechers U.S.A., Inc. has a one year low of $38.62 and a one year high of $56.53. The company has a market cap of $8.39 billion, a PE ratio of 15.98, a P/E/G ratio of 0.55 and a beta of 1.37. The stock has a 50-day moving average of $48.69 and a 200-day moving average of $50.89. The company has a debt-to-equity ratio of 0.06, a current ratio of 2.52 and a quick ratio of 1.60.

Skechers U.S.A. (NYSE:SKX) last announced its quarterly earnings data on Thursday, October 26th. The textile maker reported $0.93 EPS for the quarter, beating analysts’ consensus estimates of $0.78 by $0.15. Skechers U.S.A. had a return on equity of 13.02% and a net margin of 6.75%. The firm had revenue of $2.03 billion during the quarter, compared to analysts’ expectations of $2.03 billion. During the same quarter last year, the firm posted $0.55 earnings per share. The company’s revenue for the quarter was up 7.8% compared to the same quarter last year. On average, equities research analysts predict that Skechers U.S.A., Inc. will post 3.43 EPS for the current fiscal year.

Analyst Ratings Changes

Several research analysts recently issued reports on the company. TD Cowen raised their target price on Skechers U.S.A. from $65.00 to $67.00 and gave the stock an “outperform” rating in a research report on Friday, July 28th. UBS Group lifted their price objective on Skechers U.S.A. from $63.00 to $68.00 and gave the stock a “buy” rating in a research note on Friday, July 28th. Wedbush reissued an “outperform” rating and set a $59.00 target price on shares of Skechers U.S.A. in a research report on Thursday, August 10th. StockNews.com started coverage on shares of Skechers U.S.A. in a research report on Thursday, October 5th. They issued a “buy” rating on the stock. Finally, Deutsche Bank Aktiengesellschaft increased their price objective on shares of Skechers U.S.A. from $57.00 to $62.00 and gave the stock a “buy” rating in a research report on Friday, July 28th. One analyst has rated the stock with a hold rating and eleven have given a buy rating to the company. According to MarketBeat.com, Skechers U.S.A. currently has an average rating of “Moderate Buy” and an average price target of $59.33.

Insiders Place Their Bets

In other Skechers U.S.A. news, Director Katherine J. Blair bought 4,900 shares of the firm’s stock in a transaction dated Friday, November 10th. The stock was bought at an average cost of $49.93 per share, with a total value of $244,657.00. Following the completion of the transaction, the director now directly owns 15,400 shares in the company, valued at approximately $768,922. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 24.79% of the company’s stock.

Skechers U.S.A. Profile

Skechers U.SA, Inc designs, develops, markets, and distributes footwear for men, women, and children worldwide. The company operates through two segments, Wholesale and Direct-to-Consumer. It offers casual, casual athletic, sport athletic, trail, sandals, boots, and retro fashion footwear for men and women under the Skechers USA, Skechers Sport, Skechers Active, Modern Comfort, Skechers Street, Foamies, Mark Nason, and BOBS brands; sneakers, casuals, boots, and sandals for boys and girls under the S-Lights, Skech-Air, Foamies, Twinkle Toes, Skechers Stretch Fit, and Skechers Street brands; and technical footwear under the Skechers GOrun, Skechers GOwalk, Skechers GOtrain, Skechers GOtrail, and Skechers GO Golf brands, as well as Skechers Viper Court for pickleball.