Loomis Sayles & Co. L P Grows Holdings in Skechers U.S.A., Inc. (NYSE:SKX)

Loomis Sayles & Co. L P lifted its position in shares of Skechers U.S.A., Inc. (NYSE:SKX) by 7.1% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 752,067 shares of the textile maker’s stock after acquiring an additional 49,734 shares during the quarter. Loomis Sayles & Co. L P’s holdings in Skechers U.S.A. were worth $50,328,000 as of its most recent SEC filing.

A number of other institutional investors have also recently modified their holdings of SKX. Bessemer Group Inc. grew its holdings in Skechers U.S.A. by 66.7% in the first quarter. Bessemer Group Inc. now owns 410 shares of the textile maker’s stock valued at $25,000 after purchasing an additional 164 shares during the period. UMB Bank n.a. increased its holdings in Skechers U.S.A. by 423.3% in the 3rd quarter. UMB Bank n.a. now owns 450 shares of the textile maker’s stock worth $30,000 after acquiring an additional 364 shares in the last quarter. Versant Capital Management Inc raised its position in Skechers U.S.A. by 2,809.1% during the second quarter. Versant Capital Management Inc now owns 640 shares of the textile maker’s stock worth $44,000 after acquiring an additional 618 shares during the period. Venturi Wealth Management LLC lifted its holdings in Skechers U.S.A. by 52.9% during the third quarter. Venturi Wealth Management LLC now owns 864 shares of the textile maker’s stock valued at $58,000 after purchasing an additional 299 shares in the last quarter. Finally, 1620 Investment Advisors Inc. purchased a new position in Skechers U.S.A. during the second quarter valued at $69,000. 79.96% of the stock is currently owned by institutional investors and hedge funds.

Skechers U.S.A. Price Performance

NYSE:SKX opened at $63.48 on Tuesday. The company has a market capitalization of $9.58 billion, a P/E ratio of 15.64, a P/E/G ratio of 0.86 and a beta of 1.23. The company has a quick ratio of 1.25, a current ratio of 1.96 and a debt-to-equity ratio of 0.01. Skechers U.S.A., Inc. has a 52 week low of $55.51 and a 52 week high of $75.09. The stock’s fifty day moving average is $63.52 and its two-hundred day moving average is $66.20.

Skechers U.S.A. (NYSE:SKX) last posted its earnings results on Thursday, October 24th. The textile maker reported $1.26 EPS for the quarter, beating analysts’ consensus estimates of $1.15 by $0.11. Skechers U.S.A. had a net margin of 7.19% and a return on equity of 13.71%. The company had revenue of $2.35 billion for the quarter, compared to analysts’ expectations of $2.31 billion. During the same quarter in the prior year, the company posted $0.93 earnings per share. Skechers U.S.A.’s revenue for the quarter was up 16.0% compared to the same quarter last year. Equities analysts expect that Skechers U.S.A., Inc. will post 4.25 EPS for the current year.

Analysts Set New Price Targets

SKX has been the subject of several research analyst reports. Needham & Company LLC initiated coverage on shares of Skechers U.S.A. in a research report on Friday. They set a “hold” rating for the company. Deutsche Bank Aktiengesellschaft increased their target price 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. StockNews.com lowered Skechers U.S.A. from a “buy” rating to a “hold” rating in a research note on Monday. TD Cowen decreased their price objective on Skechers U.S.A. from $78.00 to $76.00 and set a “buy” rating on the stock in a report on Monday, October 14th. Finally, Barclays boosted their price target on shares of Skechers U.S.A. from $79.00 to $80.00 and gave the stock an “overweight” rating in a research report on Friday, October 25th. Two analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $78.09.

About Skechers U.S.A.

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.