American Century Companies Inc. Lowers Holdings in Skechers U.S.A., Inc. $SKX

Key Points

• American Century Companies Inc. has reduced its stake in Skechers U.S.A., Inc. by 40.9%, selling 101,488 shares and now owning 146,418 shares worth approximately $8.31 million as of its latest SEC filing.
• Multiple institutional investors have adjusted their positions in Skechers, with Dimensional Fund Advisors increasing their stake by 26.4%, now holding around 2.8 million shares.
• Analysts have downgraded Skechers' stock, with several firms setting a $63.00 price target and issuing a mix of Hold and Buy ratings, resulting in an average rating of "Hold" and a target price of approximately $66.46.

American Century Companies Inc. lowered its stake in shares of Skechers U.S.A., Inc. (NYSE:SKX - Free Report) by 40.9% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 146,418 shares of the textile maker's stock after selling 101,488 shares during the period. American Century Companies Inc. owned 0.10% of Skechers U.S.A. worth $8,314,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Mariner LLC boosted its position in Skechers U.S.A. by 39.7% during the fourth quarter. Mariner LLC now owns 7,200 shares of the textile maker's stock valued at $484,000 after purchasing an additional 2,045 shares in the last quarter. NewEdge Advisors LLC lifted its position in shares of Skechers U.S.A. by 85.2% during the fourth quarter. NewEdge Advisors LLC now owns 413 shares of the textile maker's stock valued at $28,000 after buying an additional 190 shares during the last quarter. Stifel Financial Corp boosted its holdings in shares of Skechers U.S.A. by 0.6% in the 4th quarter. Stifel Financial Corp now owns 73,257 shares of the textile maker's stock valued at $4,926,000 after buying an additional 449 shares in the last quarter. Tudor Investment Corp ET AL grew its position in shares of Skechers U.S.A. by 604.2% in the 4th quarter. Tudor Investment Corp ET AL now owns 103,692 shares of the textile maker's stock worth $6,972,000 after buying an additional 88,968 shares during the last quarter. Finally, Northern Trust Corp grew its position in shares of Skechers U.S.A. by 29.6% in the 4th quarter. Northern Trust Corp now owns 1,171,106 shares of the textile maker's stock worth $78,745,000 after buying an additional 267,778 shares during the last quarter. 79.96% of the stock is currently owned by hedge funds and other institutional investors.

Skechers U.S.A. Stock Performance

SKX traded up $0.02 on Friday, reaching $63.10. 3,582,042 shares of the stock were exchanged, compared to its average volume of 2,857,099. The company has a debt-to-equity ratio of 0.02, a current ratio of 2.09 and a quick ratio of 1.29. The company's 50-day moving average price is $63.07 and its 200 day moving average price is $59.51. The firm has a market capitalization of $9.48 billion, a PE ratio of 14.41 and a beta of 1.16. Skechers U.S.A., Inc. has a fifty-two week low of $44.50 and a fifty-two week high of $78.85.

Skechers U.S.A. (NYSE:SKX - Get Free Report) last announced its quarterly earnings data on Friday, August 8th. The textile maker reported $1.13 earnings per share for the quarter, beating analysts' consensus estimates 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 in the prior year, the company earned $0.91 earnings per share. The company's revenue was up 13.1% on a year-over-year basis. As a group, sell-side analysts forecast that Skechers U.S.A., Inc. will post 4.47 EPS for the current fiscal year.

Analyst Ratings Changes

A number of equities research analysts recently commented on the stock. Raymond James Financial cut shares of Skechers U.S.A. from a "moderate buy" rating to a "hold" rating in a research report on Monday, May 5th. UBS Group reissued a "neutral" rating and issued a $63.00 price objective (down previously from $64.00) on shares of Skechers U.S.A. in a research report on Tuesday, May 6th. Morgan Stanley restated an "equal weight" rating and set a $63.00 target price (down from $73.00) on shares of Skechers U.S.A. in a research note on Wednesday, May 7th. Monness Crespi & Hardt cut Skechers U.S.A. from a "strong-buy" rating to a "hold" rating in a research note on Wednesday, May 7th. Finally, Needham & Company LLC reissued a "hold" rating on shares of Skechers U.S.A. in a report on Wednesday. One research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and nine have assigned a Hold rating to the company's stock. According to data from MarketBeat, the stock currently has an average rating of "Hold" and a consensus price target of $66.46.

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.