MetLife Investment Management LLC Has $4.62 Million Stock Position in Skechers U.S.A., Inc. (NYSE:SKX)

MetLife Investment Management LLC cut its position in Skechers U.S.A., Inc. (NYSE:SKX) by 1.8% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 69,011 shares of the textile maker’s stock after selling 1,300 shares during the quarter. MetLife Investment Management LLC’s holdings in Skechers U.S.A. were worth $4,618,000 at the end of the most recent reporting period.

Several other institutional investors have also recently bought and sold shares of the company. CIBC Asset Management Inc grew its holdings in shares of Skechers U.S.A. by 4.7% during the 2nd quarter. CIBC Asset Management Inc now owns 3,820 shares of the textile maker’s stock worth $264,000 after purchasing an additional 173 shares in the last quarter. Lindenwold Advisors INC boosted its stake in shares of Skechers U.S.A. by 3.0% in the 3rd quarter. Lindenwold Advisors INC now owns 6,663 shares of the textile maker’s stock valued at $446,000 after purchasing an additional 195 shares in the last quarter. X Square Capital LLC lifted its holdings in Skechers U.S.A. by 0.5% during the 2nd 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 during the last quarter. Covestor Ltd boosted its position in Skechers U.S.A. by 18.8% in the third quarter. Covestor Ltd now owns 1,678 shares of the textile maker’s stock valued at $112,000 after buying an additional 265 shares in the last quarter. Finally, QRG Capital Management Inc. grew its stake in Skechers U.S.A. by 2.6% during the third quarter. QRG Capital Management Inc. now owns 11,157 shares of the textile maker’s stock worth $747,000 after buying an additional 284 shares during the last quarter. Institutional investors own 79.96% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms recently commented on SKX. Barclays increased their price target on 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. Morgan Stanley lifted their price objective on Skechers U.S.A. from $81.00 to $84.00 and gave the stock an “overweight” rating in a research report on Friday, October 25th. Deutsche Bank Aktiengesellschaft increased their price target on Skechers U.S.A. from $83.00 to $84.00 and gave the company a “buy” rating in a research note on Friday, October 25th. Bank of America cut their target price on shares of Skechers U.S.A. from $81.00 to $80.00 and set a “buy” rating on the stock in a report on Friday, October 25th. Finally, StockNews.com cut Skechers U.S.A. from a “buy” rating to a “hold” rating in a research note on Monday, November 25th. Two analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. According to data from MarketBeat.com, Skechers U.S.A. presently has an average rating of “Moderate Buy” and an average price target of $78.09.

Skechers U.S.A. Stock Up 0.2 %

SKX stock opened at $63.82 on Monday. The company has a market cap of $9.64 billion, a price-to-earnings ratio of 15.72, a P/E/G ratio of 0.89 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 twelve month low of $55.67 and a twelve month high of $75.09. The business has a 50 day moving average price of $63.39 and a two-hundred day moving average price of $66.06.

Skechers U.S.A. (NYSE:SKX) last issued its earnings results on Thursday, October 24th. The textile maker reported $1.26 earnings per share (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 period in the prior year, the firm earned $0.93 EPS. Skechers U.S.A.’s quarterly revenue was up 16.0% compared to the same quarter last year. Analysts anticipate that Skechers U.S.A., Inc. will post 4.25 EPS for the current fiscal year.

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.