Amundi Buys 21,275 Shares of Skechers U.S.A., Inc. $SKX

Key Points

• Amundi increased its stake in Skechers U.S.A. by 9.1% in the first quarter, acquiring an additional 21,275 shares, bringing its total ownership to 254,117 shares valued at approximately $14.4 million.
• Institutional investors and hedge funds now own 79.96% of Skechers' stock, highlighting strong institutional interest in the company.
• Skechers reported a quarterly earnings increase with earnings per share of $1.13, surpassing estimates and reflecting a 13.1% year-over-year revenue growth.

Amundi raised its position in Skechers U.S.A., Inc. (NYSE:SKX - Free Report) by 9.1% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 254,117 shares of the textile maker's stock after purchasing an additional 21,275 shares during the quarter. Amundi owned approximately 0.17% of Skechers U.S.A. worth $14,429,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the company. Royal Bank of Canada grew its stake in Skechers U.S.A. by 90.0% in the first quarter. Royal Bank of Canada now owns 476,107 shares of the textile maker's stock valued at $27,033,000 after purchasing an additional 225,536 shares in the last quarter. Armistice Capital LLC grew its stake in Skechers U.S.A. by 0.9% in the first quarter. Armistice Capital LLC now owns 295,340 shares of the textile maker's stock valued at $16,769,000 after purchasing an additional 2,707 shares in the last quarter. Junto Capital Management LP purchased a new position in Skechers U.S.A. in the first quarter valued at about $24,740,000. Baird Financial Group Inc. boosted its stake in shares of Skechers U.S.A. by 2.5% during the 1st quarter. Baird Financial Group Inc. now owns 98,800 shares of the textile maker's stock worth $5,610,000 after acquiring an additional 2,367 shares in the last quarter. Finally, Vident Advisory LLC increased its holdings in shares of Skechers U.S.A. by 33.6% during the 1st quarter. Vident Advisory LLC now owns 5,758 shares of the textile maker's stock valued at $327,000 after acquiring an additional 1,447 shares during the last quarter. Hedge funds and other institutional investors own 79.96% of the company's stock.

Skechers U.S.A. Stock Performance

Shares of SKX stock remained flat at $63.13 during mid-day trading on Monday. The stock's fifty day moving average is $63.10 and its 200-day moving average is $59.45. The company has a debt-to-equity ratio of 0.02, a current ratio of 2.09 and a quick ratio of 1.29. Skechers U.S.A., Inc. has a 52 week low of $44.50 and a 52 week high of $78.85. The company has a market cap of $9.49 billion, a P/E ratio of 14.41 and a beta of 1.19.

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 EPS for the quarter, topping 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 company had revenue of $2.44 billion during the quarter, compared to the consensus estimate of $2.35 billion. During the same quarter last year, the company earned $0.91 EPS. The company's quarterly revenue was up 13.1% on a year-over-year basis. On average, equities analysts predict that Skechers U.S.A., Inc. will post 4.47 earnings per share for the current year.

Analyst Ratings Changes

SKX has been the topic of a number of analyst reports. Needham & Company LLC reissued a "hold" rating on shares of Skechers U.S.A. in a report on Wednesday, August 27th. Argus lowered Skechers U.S.A. from a "buy" rating to a "hold" rating and set a $63.00 price objective on the stock. in a report on Tuesday, August 26th. Zacks Research raised Skechers U.S.A. from a "hold" rating to a "strong-buy" rating in a report on Tuesday, August 26th. TD Cowen lowered Skechers U.S.A. from a "buy" rating to a "hold" rating and set a $63.00 price objective on the stock. in a report on Wednesday, May 28th. Finally, Wall Street Zen raised Skechers U.S.A. to a "hold" rating in a report on Saturday, August 30th. One equities research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and nine have issued a Hold rating to the company. According to MarketBeat.com, the stock presently 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.