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

Key Points

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Carmignac Gestion increased its position in shares of Skechers U.S.A., Inc. (NYSE:SKX - Free Report) by 30.9% during the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 360,000 shares of the textile maker's stock after purchasing an additional 85,000 shares during the quarter. Carmignac Gestion owned approximately 0.24% of Skechers U.S.A. worth $20,441,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of the business. Banco Bilbao Vizcaya Argentaria S.A. bought a new stake in Skechers U.S.A. in the first quarter worth about $288,000. Foyston Gordon & Payne Inc raised its stake in shares of Skechers U.S.A. by 65.9% in the first quarter. Foyston Gordon & Payne Inc now owns 5,143 shares of the textile maker's stock valued at $292,000 after buying an additional 2,043 shares during the period. Cambiar Investors LLC purchased a new position in shares of Skechers U.S.A. during the 1st quarter valued at $7,382,000. Dimensional Fund Advisors LP grew its stake in shares of Skechers U.S.A. by 26.4% during the 1st quarter. Dimensional Fund Advisors LP now owns 2,795,753 shares of the textile maker's stock worth $158,739,000 after acquiring an additional 583,733 shares during the period. Finally, Ranmore Fund Management Ltd increased its holdings in 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 acquiring an additional 27,000 shares during the last quarter. Institutional investors own 79.96% of the company's stock.

Skechers U.S.A. Price Performance

NYSE SKX traded down $0.0050 during trading hours on Friday, reaching $62.9950. 2,202,344 shares of the stock traded hands, compared to its average volume of 3,020,547. The stock has a 50 day simple moving average of $63.01 and a two-hundred day simple moving average of $59.52. Skechers U.S.A., Inc. has a 1 year low of $44.50 and a 1 year high of $78.85. The company has a debt-to-equity ratio of 0.02, a current ratio of 2.09 and a quick ratio of 1.29. The company has a market cap of $9.47 billion, a price-to-earnings ratio of 14.38 and a beta of 1.16.

Skechers U.S.A. (NYSE:SKX - Get Free Report) last posted its quarterly earnings data on Friday, August 8th. The textile maker reported $1.13 earnings per share (EPS) 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 analysts' expectations of $2.35 billion. Skechers U.S.A. had a return on equity of 13.44% and a net margin of 7.07%.The company's revenue for the quarter was up 13.1% compared to the same quarter last year. During the same period in the prior year, the business earned $0.91 EPS. On average, analysts predict that Skechers U.S.A., Inc. will post 4.47 EPS for the current fiscal year.

Analyst Ratings Changes

SKX has been the topic of a number of research reports. Wall Street Zen began coverage on Skechers U.S.A. in a research note on Thursday, May 22nd. They issued a "sell" rating on the stock. Wells Fargo & Company upped their price target on shares of Skechers U.S.A. from $57.00 to $63.00 and gave the company an "overweight" rating in a research note on Tuesday, May 6th. Barclays reiterated an "equal weight" rating and issued a $63.00 price objective (up from $53.00) on shares of Skechers U.S.A. in a research note on Tuesday, May 6th. TD Cowen downgraded 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. Finally, Raymond James Financial lowered Skechers U.S.A. from a "moderate buy" rating to a "hold" rating in a 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. According to MarketBeat, the stock has a consensus rating of "Hold" and an average price target 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.