Carmignac Gestion Increases Stock Position in Skechers U.S.A., Inc. $SKX

Key Points

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Carmignac Gestion grew its stake in Skechers U.S.A., Inc. (NYSE:SKX - Free Report) by 30.9% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 360,000 shares of the textile maker's stock after purchasing an additional 85,000 shares during the quarter. Carmignac Gestion owned about 0.24% of Skechers U.S.A. worth $20,441,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in the stock. Banco Bilbao Vizcaya Argentaria S.A. bought a new position in Skechers U.S.A. in the 1st quarter worth $288,000. Foyston Gordon & Payne Inc raised its holdings in Skechers U.S.A. by 65.9% in the 1st quarter. Foyston Gordon & Payne Inc now owns 5,143 shares of the textile maker's stock worth $292,000 after purchasing an additional 2,043 shares in the last quarter. Cambiar Investors LLC bought a new position in Skechers U.S.A. in the 1st quarter worth $7,382,000. Dimensional Fund Advisors LP grew its position in shares of Skechers U.S.A. by 26.4% in the 1st 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 period. Finally, Ranmore Fund Management Ltd grew its position in shares of Skechers U.S.A. by 17.9% in the 1st quarter. Ranmore Fund Management Ltd now owns 178,000 shares of the textile maker's stock worth $10,107,000 after buying an additional 27,000 shares during the period. 79.96% of the stock is currently owned by institutional investors.

Skechers U.S.A. Stock Up 0.2%

SKX stock traded up $0.1050 during trading on Thursday, hitting $62.9950. 2,110,588 shares of the stock traded hands, compared to its average volume of 3,044,191. Skechers U.S.A., Inc. has a 1 year low of $44.50 and a 1 year high of $78.85. The firm's 50 day moving average is $63.00 and its two-hundred day moving average is $59.81. The stock has a market cap of $9.47 billion, a price-to-earnings ratio of 14.38 and a beta of 1.16. The company has a debt-to-equity ratio of 0.02, a current ratio of 2.09 and a quick ratio of 1.29.

Skechers U.S.A. (NYSE:SKX - Get Free Report) last announced its quarterly earnings data on Friday, August 8th. The textile maker reported $1.13 EPS for the quarter, beating the consensus estimate of $0.86 by $0.27. Skechers U.S.A. had a net margin of 7.07% and a return on equity of 13.44%. The company had revenue of $2.44 billion for the quarter, compared to the consensus estimate of $2.35 billion. During the same period in the prior year, the firm posted $0.91 EPS. Skechers U.S.A.'s revenue for the quarter was up 13.1% on a year-over-year basis. On average, sell-side analysts anticipate that Skechers U.S.A., Inc. will post 4.47 EPS for the current year.

Wall Street Analyst Weigh In

SKX has been the topic of a number of recent research reports. UBS Group reaffirmed a "neutral" rating and issued a $63.00 target price (down from $64.00) on shares of Skechers U.S.A. in a research report on Tuesday, May 6th. TD Cowen downgraded shares of Skechers U.S.A. from a "buy" rating to a "hold" rating and set a $63.00 target price on the stock. in a research report on Wednesday, May 28th. Barclays reaffirmed an "equal weight" rating and issued a $63.00 target price (up from $53.00) on shares of Skechers U.S.A. in a research report on Tuesday, May 6th. Wells Fargo & Company upped their target price on shares of Skechers U.S.A. from $57.00 to $63.00 and gave the stock an "overweight" rating in a research report on Tuesday, May 6th. Finally, Raymond James Financial downgraded shares of Skechers U.S.A. from a "moderate buy" rating to a "hold" rating in a research report on Monday, May 5th. Five analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the company. Based on data from MarketBeat, the stock has a consensus rating of "Hold" and an average price target 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.