Skechers U.S.A., Inc. (NYSE:SKX) Stake Boosted by Capricorn Fund Managers Ltd

Key Points

• Capricorn Fund Managers Ltd has increased its stake in Skechers U.S.A., Inc. by 102.2%, acquiring an additional 92,000 shares, bringing its total holdings to 182,000 shares.
• Skechers U.S.A. now constitutes approximately 5.5% of Capricorn Fund Managers Ltd's portfolio, making it their 3rd biggest holding.
• Analysts have varied opinions on Skechers U.S.A., with an average price target of $66.75, while some institutions have set their targets between $60.00 and $78.00.

Capricorn Fund Managers Ltd increased its stake in Skechers U.S.A., Inc. (NYSE:SKX - Free Report) by 102.2% in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 182,000 shares of the textile maker's stock after acquiring an additional 92,000 shares during the quarter. Skechers U.S.A. accounts for approximately 5.5% of Capricorn Fund Managers Ltd's portfolio, making the stock its 3rd largest position. Capricorn Fund Managers Ltd owned approximately 0.12% of Skechers U.S.A. worth $10,334,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. Victory Capital Management Inc. raised its holdings 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 valued at $224,272,000 after purchasing an additional 3,924,962 shares during the last quarter. Norges Bank purchased a new stake in Skechers U.S.A. in the 4th quarter valued at about $105,741,000. Duquesne Family Office LLC bought a new position in shares of Skechers U.S.A. during the 4th quarter worth approximately $72,272,000. Two Sigma Investments LP boosted its stake in shares of Skechers U.S.A. by 772.7% in the 4th 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, Anomaly Capital Management LP grew its holdings in shares of Skechers U.S.A. by 51.2% in the fourth quarter. Anomaly Capital Management LP now owns 2,989,015 shares of the textile maker's stock valued at $200,981,000 after acquiring an additional 1,011,815 shares in the last quarter. Institutional investors and hedge funds own 79.96% of the company's stock.

Wall Street Analyst Weigh In

A number of analysts recently commented on SKX shares. Wall Street Zen assumed coverage on Skechers U.S.A. in a report on Thursday, May 22nd. They set a "sell" rating on the stock. Morgan Stanley reaffirmed an "equal weight" rating and set a $63.00 target price (down from $73.00) on shares of Skechers U.S.A. in a research report on Wednesday, May 7th. Stifel Nicolaus reduced their price target on shares of Skechers U.S.A. from $80.00 to $62.00 and set a "buy" rating for the company in a research report on Thursday, April 10th. Monness Crespi & Hardt downgraded shares of Skechers U.S.A. from a "strong-buy" rating to a "hold" rating in a report on Wednesday, May 7th. Finally, Needham & Company LLC reiterated a "hold" rating on shares of Skechers U.S.A. in a research note on Tuesday, April 22nd. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating and five have given a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus price target of $66.75.

Skechers U.S.A. Price Performance

NYSE:SKX traded down $0.27 during mid-day trading on Friday, reaching $62.98. The stock had a trading volume of 7,925,479 shares, compared to its average volume of 2,454,696. The stock has a market capitalization of $9.42 billion, a P/E ratio of 15.14 and a beta of 1.16. The firm has a 50 day moving average price of $62.77 and a two-hundred day moving average price of $60.85. The company has a debt-to-equity ratio of 0.02, a quick ratio of 1.28 and a current ratio of 2.13. Skechers U.S.A., Inc. has a one year low of $44.50 and a one year high of $78.85.

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.