American International Group Inc. Sells 3,618 Shares of Skechers U.S.A., Inc. (NYSE:SKX)

American International Group Inc. lessened its position in Skechers U.S.A., Inc. (NYSE:SKX) by 2.0% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 176,919 shares of the textile maker’s stock after selling 3,618 shares during the quarter. American International Group Inc. owned 0.12% of Skechers U.S.A. worth $10,838,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in SKX. Vanguard Group Inc. increased its stake in Skechers U.S.A. by 0.8% in the 1st quarter. Vanguard Group Inc. now owns 12,724,299 shares of the textile maker’s stock worth $779,491,000 after buying an additional 97,666 shares during the period. Fiduciary Management Inc. WI increased its stake in Skechers U.S.A. by 3.5% in the 4th quarter. Fiduciary Management Inc. WI now owns 2,893,529 shares of the textile maker’s stock worth $180,383,000 after buying an additional 98,068 shares during the period. Charles Schwab Investment Management Inc. increased its stake in Skechers U.S.A. by 1.3% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,269,306 shares of the textile maker’s stock worth $79,129,000 after buying an additional 16,146 shares during the period. Vaughan Nelson Investment Management L.P. increased its stake in Skechers U.S.A. by 62.6% in the 1st quarter. Vaughan Nelson Investment Management L.P. now owns 1,232,993 shares of the textile maker’s stock worth $75,534,000 after buying an additional 474,524 shares during the period. Finally, Norges Bank purchased a new position in Skechers U.S.A. in the 4th quarter worth about $75,194,000. Institutional investors own 79.96% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts recently commented on SKX shares. Morgan Stanley raised shares of Skechers U.S.A. from an “equal weight” rating to an “overweight” rating and raised their price target for the stock from $60.00 to $80.00 in a research note on Tuesday. TD Cowen raised their price target on shares of Skechers U.S.A. from $77.00 to $79.00 and gave the stock a “buy” rating in a research note on Monday. Deutsche Bank Aktiengesellschaft reissued a “buy” rating and set a $82.00 target price on shares of Skechers U.S.A. in a research report on Thursday, June 13th. Wedbush reissued an “outperform” rating and set a $76.00 target price on shares of Skechers U.S.A. in a research report on Friday, May 17th. Finally, Stifel Nicolaus raised their target price on shares of Skechers U.S.A. from $74.00 to $81.00 and gave the company a “buy” rating in a research report on Tuesday, May 28th. Fourteen analysts have rated the stock with a buy rating, According to data from MarketBeat, the stock has an average rating of “Buy” and an average price target of $74.77.

Skechers U.S.A. Stock Down 1.7 %

Shares of Skechers U.S.A. stock traded down $1.08 on Wednesday, reaching $64.02. The stock had a trading volume of 1,966,240 shares, compared to its average volume of 1,743,961. The company has a 50 day moving average price of $69.31 and a 200 day moving average price of $64.12. The company has a quick ratio of 1.56, a current ratio of 2.39 and a debt-to-equity ratio of 0.02. Skechers U.S.A., Inc. has a 1 year low of $45.58 and a 1 year high of $75.09. The stock has a market capitalization of $9.76 billion, a P/E ratio of 16.85, a P/E/G ratio of 0.92 and a beta of 1.25.

Skechers U.S.A. (NYSE:SKX) last issued its quarterly earnings data on Thursday, April 25th. The textile maker reported $1.33 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.10 by $0.23. Skechers U.S.A. had a net margin of 7.17% and a return on equity of 13.56%. The firm had revenue of $2.25 billion for the quarter, compared to the consensus estimate of $2.20 billion. During the same quarter in the previous year, the firm earned $1.02 EPS. The company’s quarterly revenue was up 12.5% compared to the same quarter last year. As a group, equities research analysts forecast that Skechers U.S.A., Inc. will post 4.08 EPS for the current year.

Insider Buying and Selling

In related news, General Counsel Phillip Paccione sold 423 shares of Skechers U.S.A. stock in a transaction that occurred on Tuesday, June 4th. The shares were sold at an average price of $69.45, for a total value of $29,377.35. Following the completion of the sale, the general counsel now directly owns 35,000 shares in the company, valued at approximately $2,430,750. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 24.75% of the stock is owned by company insiders.

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 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.