Banque Cantonale Vaudoise Acquires Shares of 27,000 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 position in shares of Skechers U.S.A., Inc. (NYSE:SKX - Free Report) in the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 27,000 shares of the textile maker's stock, valued at approximately $1,533,000.

Several other institutional investors have also modified their holdings of the company. Victory Capital Management Inc. grew its position in shares of Skechers U.S.A. by 15,774.3% during 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. Anomaly Capital Management LP grew its position in shares of Skechers U.S.A. by 51.2% during the fourth 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 grew its position 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 valued at $140,984,000 after buying an additional 174,697 shares in the last quarter. Geode Capital Management LLC grew its position in Skechers U.S.A. by 3.5% in 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 grew its position 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 valued at $148,743,000 after buying an additional 357,681 shares in the last quarter. Institutional investors own 79.96% of the company's stock.

Skechers U.S.A. Trading Down 0.4%

SKX stock traded down $0.27 during mid-day trading on Friday, reaching $62.98. 7,925,479 shares of the stock traded hands, compared to its average volume of 2,454,696. The company has a current ratio of 2.13, a quick ratio of 1.28 and a debt-to-equity ratio of 0.02. 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 $9.42 billion, a P/E ratio of 15.14 and a beta of 1.16. The stock's fifty day moving average is $62.75 and its 200-day moving average is $60.91.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on the stock. Raymond James Financial lowered shares of Skechers U.S.A. from a "moderate buy" rating to a "hold" rating in a research report on Monday, May 5th. Wall Street Zen assumed coverage on shares of Skechers U.S.A. in a research report on Thursday, May 22nd. They issued a "sell" rating for the company. Wells Fargo & Company increased their target price on shares of 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. UBS Group reiterated a "neutral" rating and issued a $63.00 target price (down previously from $64.00) on shares of Skechers U.S.A. in a research report on Tuesday, May 6th. Finally, Evercore ISI decreased their target price on shares of Skechers U.S.A. from $78.00 to $60.00 and set an "outperform" rating for the company in a research report on Thursday, April 17th. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of "Hold" and an average target price 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.