AMJ Financial Wealth Management Purchases 5,114 Shares of Skechers U.S.A., Inc. (NYSE:SKX)

AMJ Financial Wealth Management raised its holdings in shares of Skechers U.S.A., Inc. (NYSE:SKX) by 12.4% in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 46,363 shares of the textile maker’s stock after acquiring an additional 5,114 shares during the quarter. AMJ Financial Wealth Management’s holdings in Skechers U.S.A. were worth $3,205,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in SKX. Bessemer Group Inc. grew its position 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 in the last quarter. CIBC Asset Management Inc raised its holdings in Skechers U.S.A. by 4.7% during the second quarter. CIBC Asset Management Inc now owns 3,820 shares of the textile maker’s stock worth $264,000 after acquiring an additional 173 shares in the last quarter. QRG Capital Management Inc. boosted its position in Skechers U.S.A. by 2.0% during the first quarter. QRG Capital Management Inc. now owns 10,047 shares of the textile maker’s stock valued at $615,000 after purchasing an additional 194 shares during the last quarter. National Bank of Canada FI grew its stake in Skechers U.S.A. by 7.1% in the fourth quarter. National Bank of Canada FI now owns 3,035 shares of the textile maker’s stock valued at $188,000 after purchasing an additional 200 shares in the last quarter. Finally, X Square Capital LLC grew its stake in Skechers U.S.A. by 0.5% in the second quarter. X Square Capital LLC now owns 40,903 shares of the textile maker’s stock valued at $2,827,000 after purchasing an additional 215 shares in the last quarter. 79.96% of the stock is currently owned by institutional investors and hedge funds.

Skechers U.S.A. Stock Performance

Shares of Skechers U.S.A. stock traded down $0.46 on Tuesday, hitting $65.56. The stock had a trading volume of 52,673 shares, compared to its average volume of 1,744,606. The company has a quick ratio of 1.33, a current ratio of 2.06 and a debt-to-equity ratio of 0.01. The business’s 50 day moving average is $65.57 and its two-hundred day moving average is $65.09. Skechers U.S.A., Inc. has a twelve month low of $45.58 and a twelve month high of $75.09. The stock has a market cap of $10.00 billion, a price-to-earnings ratio of 17.37, a price-to-earnings-growth ratio of 0.91 and a beta of 1.23.

Skechers U.S.A. (NYSE:SKX) last issued its quarterly earnings data on Thursday, July 25th. The textile maker reported $0.91 earnings per share for the quarter, missing the consensus estimate of $0.95 by ($0.04). Skechers U.S.A. had a return on equity of 13.04% and a net margin of 6.90%. The business had revenue of $2.16 billion during the quarter, compared to analyst estimates of $2.24 billion. During the same quarter last year, the firm earned $0.98 EPS. Skechers U.S.A.’s revenue for the quarter was up 7.3% compared to the same quarter last year. Analysts forecast that Skechers U.S.A., Inc. will post 4.17 EPS for the current year.

Wall Street Analyst Weigh In

Several research firms have recently commented on SKX. Wells Fargo & Company started coverage on Skechers U.S.A. in a report on Wednesday, June 12th. They issued an “overweight” rating and a $83.00 price objective for the company. Wedbush increased their price target on shares of Skechers U.S.A. from $76.00 to $79.00 and gave the company an “outperform” rating in a research note on Friday, July 26th. Barclays boosted their price objective on shares of Skechers U.S.A. from $78.00 to $79.00 and gave the stock an “overweight” rating in a research note on Friday, July 26th. Morgan Stanley upgraded shares of Skechers U.S.A. from an “equal weight” rating to an “overweight” rating and raised their target price for the company from $60.00 to $80.00 in a research note on Tuesday, July 23rd. Finally, Stifel Nicolaus lifted their price target on Skechers U.S.A. from $81.00 to $83.00 and gave the stock a “buy” rating in a report on Friday, July 26th. Thirteen investment analysts have rated the stock with a buy rating, Based on data from MarketBeat, Skechers U.S.A. has a consensus rating of “Buy” and a consensus price target of $76.75.

Skechers U.S.A. Company Profile

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.