Natixis Advisors LLC Sells 7,063 Shares of Skechers U.S.A., Inc. (NYSE:SKX)

Natixis Advisors LLC reduced its position in Skechers U.S.A., Inc. (NYSE:SKX) by 3.4% in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 200,288 shares of the textile maker’s stock after selling 7,063 shares during the period. Natixis Advisors LLC owned about 0.13% of Skechers U.S.A. worth $13,403,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the business. Seven Eight Capital LP lifted its holdings in shares of Skechers U.S.A. by 126.1% during the second quarter. Seven Eight Capital LP now owns 29,419 shares of the textile maker’s stock valued at $2,033,000 after purchasing an additional 16,408 shares in the last quarter. Cetera Advisors LLC bought a new position in Skechers U.S.A. during the 1st quarter valued at about $600,000. Vista Investment Partners LLC purchased a new stake in shares of Skechers U.S.A. during the 2nd quarter valued at about $925,000. Vanguard Group Inc. grew its stake in shares of Skechers U.S.A. by 0.8% in the first quarter. Vanguard Group Inc. now owns 12,724,299 shares of the textile maker’s stock worth $779,491,000 after acquiring an additional 97,666 shares during the period. Finally, First Hawaiian Bank purchased a new position in shares of Skechers U.S.A. during the second quarter valued at approximately $673,000. 79.96% of the stock is owned by institutional investors.

Skechers U.S.A. Stock Performance

Shares of NYSE SKX opened at $59.82 on Thursday. The company has a market cap of $9.03 billion, a P/E ratio of 14.73, a P/E/G ratio of 0.84 and a beta of 1.23. Skechers U.S.A., Inc. has a 52-week low of $54.10 and a 52-week high of $75.09. The company has a debt-to-equity ratio of 0.01, a quick ratio of 1.25 and a current ratio of 1.96. The firm’s fifty day moving average is $63.95 and its two-hundred day moving average is $66.36.

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, topping analysts’ consensus estimates of $1.15 by $0.11. Skechers U.S.A. had a return on equity of 13.71% and a net margin of 7.19%. The company had revenue of $2.35 billion for the quarter, compared to the consensus estimate of $2.31 billion. During the same period in the previous year, the business earned $0.93 earnings per share. The firm’s revenue for the quarter was up 16.0% on a year-over-year basis. As a group, analysts anticipate that Skechers U.S.A., Inc. will post 4.25 EPS for the current fiscal year.

Skechers U.S.A. declared that its Board of Directors has approved a share repurchase program on Thursday, July 25th that allows the company to repurchase $1.00 billion in shares. This repurchase authorization allows the textile maker to repurchase up to 10.3% of its shares through open market purchases. Shares repurchase programs are often a sign that the company’s leadership believes its stock is undervalued.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on the company. Deutsche Bank Aktiengesellschaft raised their price target on Skechers U.S.A. from $83.00 to $84.00 and gave the stock a “buy” rating in a research note on Friday, October 25th. Bank of America dropped their target price on Skechers U.S.A. from $81.00 to $80.00 and set a “buy” rating on the stock in a research report on Friday, October 25th. TD Cowen lowered their price objective on shares of Skechers U.S.A. from $78.00 to $76.00 and set a “buy” rating on the stock in a research note on Monday, October 14th. Morgan Stanley boosted their target price on shares of Skechers U.S.A. from $81.00 to $84.00 and gave the company an “overweight” rating in a research report on Friday, October 25th. Finally, StockNews.com raised shares of Skechers U.S.A. from a “hold” rating to a “buy” rating in a report on Tuesday, November 12th. Twelve research analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock currently has an average rating of “Buy” and a consensus price target 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.