5,141 Shares in Skechers U.S.A., Inc. $SKX Bought by Banco Bilbao Vizcaya Argentaria S.A.

Key Points

• Banco Bilbao Vizcaya Argentaria S.A. has acquired 5,141 shares of Skechers U.S.A., Inc. (NYSE: SKX), valued at approximately $288,000, in the first quarter of 2023.
• Several institutional investors have increased their stakes in Skechers, with the majority of 79.96% of the stock currently owned by hedge funds and institutional investors.
• Skechers reported a strong earnings performance with $1.13 earnings per share, surpassing analyst expectations, and revenue of $2.44 billion for the quarter.

Banco Bilbao Vizcaya Argentaria S.A. bought a new position in Skechers U.S.A., Inc. (NYSE:SKX - Free Report) in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 5,141 shares of the textile maker's stock, valued at approximately $288,000.

A number of other institutional investors also recently modified their holdings of the stock. Victory Capital Management Inc. raised its stake in shares of Skechers U.S.A. by 15,774.3% in the first 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. Dimensional Fund Advisors LP raised its stake in shares of Skechers U.S.A. by 26.4% during the first quarter. Dimensional Fund Advisors LP now owns 2,795,753 shares of the textile maker's stock worth $158,739,000 after buying an additional 583,733 shares during the last quarter. Bank of New York Mellon Corp raised its stake in shares of Skechers U.S.A. by 7.6% during the first quarter. Bank of New York Mellon Corp now owns 2,482,980 shares of the textile maker's stock worth $140,984,000 after buying an additional 174,697 shares during the last quarter. Two Sigma Investments LP raised its stake in shares of Skechers U.S.A. by 772.7% during the fourth quarter. Two Sigma Investments LP now owns 1,176,488 shares of the textile maker's stock worth $79,107,000 after buying an additional 1,041,677 shares during the last quarter. Finally, Northern Trust Corp raised its stake in shares of Skechers U.S.A. by 29.6% during the fourth 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 owned by institutional investors.

Analysts Set New Price Targets

A number of research firms recently weighed in on SKX. Monness Crespi & Hardt downgraded shares of Skechers U.S.A. from a "strong-buy" rating to a "hold" rating in a research note on Wednesday, May 7th. TD Cowen downgraded shares of Skechers U.S.A. from a "buy" rating to a "hold" rating and set a $63.00 price target for the company. in a research note on Wednesday, May 28th. Argus downgraded shares of Skechers U.S.A. from a "buy" rating to a "hold" rating and set a $63.00 price target for the company. in a research note on Tuesday. UBS Group restated a "neutral" rating and set a $63.00 price objective (down previously from $64.00) on shares of Skechers U.S.A. in a report on Tuesday, May 6th. Finally, Raymond James Financial cut shares of Skechers U.S.A. from a "moderate buy" rating to a "hold" rating in a report on Monday, May 5th. One investment 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's stock. According to MarketBeat, Skechers U.S.A. currently has an average rating of "Hold" and a consensus target price of $66.46.

Skechers U.S.A. Stock Up 0.0%

Shares of Skechers U.S.A. stock traded up $0.01 on Friday, hitting $63.09. The company had a trading volume of 2,036,466 shares, compared to its average volume of 4,475,994. The firm has a market capitalization of $9.48 billion, a P/E ratio of 14.40 and a beta of 1.16. Skechers U.S.A., Inc. has a twelve month low of $44.50 and a twelve month high of $78.85. 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 stock has a 50-day moving average of $63.06 and a 200-day moving average of $59.54.

Skechers U.S.A. (NYSE:SKX - Get Free Report) last released its quarterly earnings results on Friday, August 8th. The textile maker reported $1.13 earnings per share for the quarter, beating the consensus estimate of $0.86 by $0.27. The company had revenue of $2.44 billion during the quarter, compared to analysts' expectations of $2.35 billion. Skechers U.S.A. had a net margin of 7.07% and a return on equity of 13.44%. The business's quarterly revenue was up 13.1% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.91 earnings per share. Research analysts predict that Skechers U.S.A., Inc. will post 4.47 earnings per share for the current year.

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.