CGN Advisors LLC Cuts Stock Holdings in Skechers U.S.A., Inc. (NYSE:SKX)

CGN Advisors LLC reduced its holdings in shares of Skechers U.S.A., Inc. (NYSE:SKX - Free Report) by 23.3% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 19,015 shares of the textile maker's stock after selling 5,790 shares during the period. CGN Advisors LLC's holdings in Skechers U.S.A. were worth $1,080,000 as of its most recent SEC filing.

Several other hedge funds have also recently made changes to their positions in SKX. Vanguard Group Inc. grew its stake in Skechers U.S.A. by 0.7% during the fourth quarter. Vanguard Group Inc. now owns 12,544,233 shares of the textile maker's stock worth $843,474,000 after purchasing an additional 82,143 shares during the period. Anomaly Capital Management LP raised its holdings 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 valued at $200,981,000 after purchasing an additional 1,011,815 shares during the period. Bank of New York Mellon Corp grew its stake in shares of Skechers U.S.A. by 70.4% in the 4th quarter. Bank of New York Mellon Corp now owns 2,308,283 shares of the textile maker's stock valued at $155,209,000 after buying an additional 953,528 shares during the period. Geode Capital Management LLC increased 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 raised its stake in Skechers U.S.A. by 19.3% during the 4th quarter. Dimensional Fund Advisors LP now owns 2,212,020 shares of the textile maker's stock worth $148,743,000 after buying an additional 357,681 shares during the period. 79.96% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages have commented on SKX. Needham & Company LLC reissued a "hold" rating on shares of Skechers U.S.A. in a research note on Tuesday, April 22nd. Evercore ISI lowered their price objective on shares of Skechers U.S.A. from $78.00 to $60.00 and set an "outperform" rating on the stock in a report on Thursday, April 17th. Bank of America decreased their target price on shares of Skechers U.S.A. from $76.00 to $70.00 and set a "buy" rating for the company in a research report on Monday, March 24th. Stifel Nicolaus dropped their price target on shares of Skechers U.S.A. from $80.00 to $62.00 and set a "buy" rating on the stock in a research report on Thursday, April 10th. Finally, Barclays reiterated an "equal weight" rating and issued a $63.00 target price (up previously from $53.00) on shares of Skechers U.S.A. in a research note on Tuesday, May 6th. One analyst has rated the stock with a sell rating, eight have assigned a hold rating and six have given a buy rating to the stock. According to data from MarketBeat, Skechers U.S.A. presently has a consensus rating of "Hold" and an average price target of $67.69.

Skechers U.S.A. Trading Down 0.0%

SKX stock traded down $0.03 during trading on Thursday, reaching $62.13. The company had a trading volume of 5,336,212 shares, compared to its average volume of 3,288,977. The business has a 50 day moving average of $55.16 and a 200 day moving average of $62.12. The company has a debt-to-equity ratio of 0.01, a current ratio of 1.97 and a quick ratio of 1.12. The company has a market cap of $9.29 billion, a P/E ratio of 14.97, a PEG ratio of 1.11 and a beta of 1.13. Skechers U.S.A., Inc. has a 52 week low of $44.50 and a 52 week high of $78.85.

Skechers U.S.A. (NYSE:SKX - Get Free Report) last posted its quarterly earnings data on Thursday, April 24th. The textile maker reported $1.34 EPS for the quarter, topping the consensus estimate of $1.17 by $0.17. Skechers U.S.A. had a net margin of 7.13% and a return on equity of 13.73%. The business had revenue of $2.41 billion for the quarter, compared to analyst estimates of $2.43 billion. During the same quarter in the previous year, the firm posted $1.33 earnings per share. Skechers U.S.A.'s quarterly revenue was up 7.1% on a year-over-year basis. As a group, sell-side analysts forecast that Skechers U.S.A., Inc. will post 4.47 earnings per share for the current fiscal 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.