Vanguard Group Inc. Sells 40,232 Shares of Skechers U.S.A., Inc. (NYSE:SKX)

Vanguard Group Inc. reduced its holdings in Skechers U.S.A., Inc. (NYSE:SKX) by 0.3% during the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 12,504,001 shares of the textile maker’s stock after selling 40,232 shares during the quarter. Vanguard Group Inc. owned 0.08% of Skechers U.S.A. worth $709,977,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in the business. Victory Capital Management Inc. increased its stake in Skechers U.S.A. by 15,774.3% in the 1st quarter. Victory Capital Management Inc. now owns 3,949,844 shares of the textile maker’s stock worth $224,272,000 after acquiring an additional 3,924,962 shares during the last quarter. Anomaly Capital Management LP increased its stake in Skechers U.S.A. by 51.2% in the 4th quarter. Anomaly Capital Management LP now owns 2,989,015 shares of the textile maker’s stock worth $200,981,000 after acquiring an additional 1,011,815 shares during the last quarter. Bank of New York Mellon Corp increased its stake in Skechers U.S.A. by 7.6% in the 1st quarter. Bank of New York Mellon Corp now owns 2,482,980 shares of the textile maker’s stock worth $140,984,000 after acquiring an additional 174,697 shares during the last quarter. Dimensional Fund Advisors LP increased its stake in Skechers U.S.A. by 19.3% in the 4th quarter. Dimensional Fund Advisors LP now owns 2,212,020 shares of the textile maker’s stock worth $148,743,000 after acquiring an additional 357,681 shares during the last quarter. Finally, Two Sigma Investments LP increased its stake in Skechers U.S.A. by 772.7% in the 4th quarter. Two Sigma Investments LP now owns 1,176,488 shares of the textile maker’s stock worth $79,107,000 after acquiring an additional 1,041,677 shares during the last quarter. 79.96% of the stock is currently owned by institutional investors.

Skechers U.S.A. Price Performance

SKX opened at $62.90 on Wednesday. The stock’s 50 day simple moving average is $62.91 and its 200 day simple moving average is $60.32. The company has a debt-to-equity ratio of 0.02, a current ratio of 2.09 and a quick ratio of 1.28. Skechers U.S.A., Inc. has a 1 year low of $44.50 and a 1 year high of $78.85. The firm has a market cap of $9.41 billion, a price-to-earnings ratio of 14.36 and a beta of 1.16.

Skechers U.S.A. (NYSE:SKX) last posted its quarterly earnings results on Friday, August 8th. The textile maker reported $1.13 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.86 by $0.27. Skechers U.S.A. had a return on equity of 13.44% and a net margin of 7.07%. The business had revenue of $2.44 billion for the quarter, compared to analyst estimates of $2.35 billion. During the same period last year, the company earned $0.91 EPS. Skechers U.S.A.’s revenue for the quarter was up 13.1% compared to the same quarter last year. As a group, analysts predict that Skechers U.S.A., Inc. will post 4.47 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on the company. Monness Crespi & Hardt lowered Skechers U.S.A. from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, May 7th. UBS Group reiterated a “neutral” rating and set a $63.00 price objective (down from $64.00) on shares of Skechers U.S.A. in a research report on Tuesday, May 6th. Needham & Company LLC reiterated a “hold” rating on shares of Skechers U.S.A. in a research report on Tuesday, April 22nd. Wall Street Zen initiated coverage on Skechers U.S.A. in a research report on Thursday, May 22nd. They set a “sell” rating on the stock. Finally, Wells Fargo & Company increased their price objective on Skechers U.S.A. from $57.00 to $63.00 and gave the company an “overweight” rating in a research report on Tuesday, May 6th. One analyst has rated the stock with a sell rating, eight have issued a hold rating and five have issued a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $66.75.

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.