Banque Cantonale Vaudoise Purchases New Position in Skechers U.S.A., Inc. (NYSE:SKX)

Key Points

• Banque Cantonale Vaudoise has invested approximately $1.53 million in Skechers U.S.A., acquiring 27,000 shares of the company during the first quarter.
• Institutional investors currently hold 79.96% of Skechers U.S.A. stock, with several hedge funds adjusting their positions recently.
• Skechers U.S.A. shares opened at $63.19 and have a market cap of $9.45 billion, reflecting a P/E ratio of 15.19.

Banque Cantonale Vaudoise purchased a new stake in Skechers U.S.A., Inc. (NYSE:SKX - Free Report) in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund purchased 27,000 shares of the textile maker's stock, valued at approximately $1,533,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of SKX. Victory Capital Management Inc. boosted its holdings in 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 valued at $224,272,000 after acquiring an additional 3,924,962 shares during the last quarter. Anomaly Capital Management LP boosted 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 purchasing an additional 1,011,815 shares during the period. Bank of New York Mellon Corp raised its holdings in shares of Skechers U.S.A. by 7.6% during the 1st quarter. Bank of New York Mellon Corp now owns 2,482,980 shares of the textile maker's stock valued at $140,984,000 after buying an additional 174,697 shares in the last quarter. Geode Capital Management LLC raised its holdings in shares of Skechers U.S.A. by 3.5% during the 4th quarter. Geode Capital Management LLC now owns 2,294,976 shares of the textile maker's stock valued at $154,361,000 after buying an additional 78,071 shares in the last quarter. Finally, 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 purchasing an additional 357,681 shares during the period. Institutional investors and hedge funds own 79.96% of the company's stock.

Skechers U.S.A. Trading Up 0.2%

Shares of NYSE:SKX traded up $0.10 during mid-day trading on Monday, hitting $63.10. The stock had a trading volume of 947,963 shares, compared to its average volume of 4,714,918. The company has a market cap of $9.44 billion, a PE ratio of 15.16 and a beta of 1.16. The company has a debt-to-equity ratio of 0.02, a quick ratio of 1.28 and a current ratio of 2.13. The company's 50 day moving average is $62.77 and its 200-day moving average is $60.73. Skechers U.S.A., Inc. has a 12-month low of $44.50 and a 12-month high of $78.85.

Analyst Upgrades and Downgrades

SKX has been the topic of several research reports. Monness Crespi & Hardt lowered Skechers U.S.A. from a "strong-buy" rating to a "hold" rating in a research report on Wednesday, May 7th. Barclays restated an "equal weight" rating and issued a $63.00 price target (up previously from $53.00) on shares of Skechers U.S.A. in a research note on Tuesday, May 6th. Needham & Company LLC restated a "hold" rating on shares of Skechers U.S.A. in a research note on Tuesday, April 22nd. Morgan Stanley restated an "equal weight" rating and issued a $63.00 price target (down previously from $73.00) on shares of Skechers U.S.A. in a research note on Wednesday, May 7th. Finally, Wells Fargo & Company boosted their price target on Skechers U.S.A. from $57.00 to $63.00 and gave the stock an "overweight" rating in a research note on Tuesday, May 6th. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat.com, Skechers U.S.A. presently has a consensus rating of "Hold" and a consensus target price of $66.75.

Skechers U.S.A. Company 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.