Boston Partners Has $7.87 Million Stock Position in Skechers U.S.A., Inc. $SKX

Key Points

• Boston Partners reduced its stake in Skechers U.S.A. by 3.6%, now holding 138,698 shares valued at approximately $7.87 million.
• Several large investors, including Wells Fargo and Invesco, increased their positions in Skechers U.S.A. during the previous quarter, highlighting significant institutional interest.
• Wall Street analysts have recently downgraded Skechers U.S.A. ratings, with the consensus now at a "Hold" and a price target of $66.75.

Boston Partners reduced its holdings in Skechers U.S.A., Inc. (NYSE:SKX - Free Report) by 3.6% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 138,698 shares of the textile maker's stock after selling 5,222 shares during the period. Boston Partners owned about 0.09% of Skechers U.S.A. worth $7,867,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of the business. HB Wealth Management LLC lifted its stake in Skechers U.S.A. by 4.3% in the 1st quarter. HB Wealth Management LLC now owns 4,107 shares of the textile maker's stock worth $233,000 after acquiring an additional 168 shares in the last quarter. Cerity Partners LLC lifted its stake in Skechers U.S.A. by 1.2% in the 4th quarter. Cerity Partners LLC now owns 14,090 shares of the textile maker's stock worth $947,000 after acquiring an additional 172 shares in the last quarter. National Bank of Canada FI lifted its stake in Skechers U.S.A. by 8.5% in the 1st quarter. National Bank of Canada FI now owns 2,400 shares of the textile maker's stock worth $136,000 after acquiring an additional 189 shares in the last quarter. NewEdge Advisors LLC lifted its stake in Skechers U.S.A. by 85.2% in the 4th quarter. NewEdge Advisors LLC now owns 413 shares of the textile maker's stock worth $28,000 after acquiring an additional 190 shares in the last quarter. Finally, PNC Financial Services Group Inc. raised its stake in shares of Skechers U.S.A. by 2.8% during the 1st quarter. PNC Financial Services Group Inc. now owns 7,551 shares of the textile maker's stock worth $429,000 after purchasing an additional 204 shares in the last quarter. 79.96% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research firms have recently weighed in on SKX. Needham & Company LLC reaffirmed a "hold" rating on shares of Skechers U.S.A. in a research note on Tuesday, April 22nd. Raymond James Financial downgraded Skechers U.S.A. from a "moderate buy" rating to a "hold" rating in a research note on Monday, May 5th. Wells Fargo & Company raised 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. Morgan Stanley reaffirmed an "equal weight" rating and set a $63.00 price target (down from $73.00) on shares of Skechers U.S.A. in a research note on Wednesday, May 7th. Finally, Wall Street Zen began coverage on Skechers U.S.A. in a research note on Thursday, May 22nd. They set a "sell" rating for the company. Five equities research analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the company's stock. According to MarketBeat.com, the company presently has an average rating of "Hold" and an average price target of $66.75.

Skechers U.S.A. Stock Performance

Skechers U.S.A. stock traded down $0.1650 during trading hours on Wednesday, reaching $62.8950. 1,841,193 shares of the company were exchanged, compared to its average volume of 4,576,247. The firm has a market cap of $9.45 billion, a price-to-earnings ratio of 14.36 and a beta of 1.16. The company has a current ratio of 2.09, a quick ratio of 1.29 and a debt-to-equity ratio of 0.02. The stock has a 50-day moving average of $62.99 and a 200 day moving average of $59.86. Skechers U.S.A., Inc. has a 12 month low of $44.50 and a 12 month high of $78.85.

Skechers U.S.A. (NYSE:SKX - Get Free Report) last released its earnings results on Friday, August 8th. The textile maker reported $1.13 earnings per share for the quarter, topping analysts' consensus estimates of $0.86 by $0.27. The firm had revenue of $2.44 billion during the quarter, compared to analyst estimates 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 revenue was up 13.1% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.91 EPS. As a group, research analysts anticipate that Skechers U.S.A., Inc. will post 4.47 earnings per share for the current year.

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.