Charles Schwab Investment Management Inc. Decreases Stock Position in Skechers U.S.A., Inc. (NYSE:SKX)

Charles Schwab Investment Management Inc. reduced its stake in shares of Skechers U.S.A., Inc. (NYSE:SKX - Free Report) by 0.7% during the 1st quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 1,308,865 shares of the textile maker's stock after selling 8,913 shares during the period. Charles Schwab Investment Management Inc. owned approximately 0.88% of Skechers U.S.A. worth $74,317,000 at the end of the most recent reporting period.

Other institutional investors also recently made changes to their positions in the company. Victory Capital Management Inc. raised its stake in shares of Skechers U.S.A. by 15,774.3% during the 1st quarter. Victory Capital Management Inc. now owns 3,949,844 shares of the textile maker's stock worth $224,272,000 after buying an additional 3,924,962 shares during the last quarter. Duquesne Family Office LLC acquired a new position in shares of Skechers U.S.A. during the 4th quarter worth $72,272,000. Two Sigma Investments LP raised its stake in shares of Skechers U.S.A. by 772.7% during 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. Anomaly Capital Management LP raised its stake in shares of Skechers U.S.A. by 51.2% during the 4th quarter. Anomaly Capital Management LP now owns 2,989,015 shares of the textile maker's stock worth $200,981,000 after buying an additional 1,011,815 shares during the last quarter. Finally, Two Sigma Advisers LP raised its stake in shares of Skechers U.S.A. by 381.0% during the 4th quarter. Two Sigma Advisers LP now owns 1,081,800 shares of the textile maker's stock worth $72,740,000 after buying an additional 856,900 shares during the last quarter. 79.96% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on SKX shares. Barclays reaffirmed an "equal weight" rating and set a $63.00 price target (up previously from $53.00) on shares of Skechers U.S.A. in a research note on Tuesday, May 6th. Wall Street Zen started coverage on shares of Skechers U.S.A. in a report on Thursday, May 22nd. They issued a "sell" rating on the stock. TD Cowen lowered 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 report on Wednesday, May 28th. UBS Group restated a "neutral" rating and issued a $63.00 target price (down from $64.00) on shares of Skechers U.S.A. in a report on Tuesday, May 6th. Finally, Needham & Company LLC restated a "hold" rating on shares of Skechers U.S.A. in a report on Tuesday, April 22nd. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating and five have given a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus price target of $66.75.

Skechers U.S.A. Trading Down 0.0%

Shares of NYSE SKX traded down $0.02 on Friday, reaching $63.00. 4,159,463 shares of the company traded hands, compared to its average volume of 2,589,467. Skechers U.S.A., Inc. has a fifty-two week low of $44.50 and a fifty-two week high of $78.85. The company has a 50 day moving average of $62.96 and a 200 day moving average of $60.16. The company has a current ratio of 2.09, a quick ratio of 1.28 and a debt-to-equity ratio of 0.02. The stock has a market capitalization of $9.42 billion, a PE ratio of 14.38 and a beta of 1.16.

Skechers U.S.A. (NYSE:SKX - Get Free Report) last posted its earnings results 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 the consensus estimate of $2.35 billion. Skechers U.S.A. had a net margin of 7.07% and a return on equity of 13.44%. The company's revenue was up 13.1% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.91 EPS. On average, equities research analysts forecast that Skechers U.S.A., Inc. will post 4.47 earnings per share for the current fiscal year.

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.