Skechers U.S.A., Inc. $SKX Shares Purchased by Dimensional Fund Advisors LP

Key Points

• Dimensional Fund Advisors LP increased its stake in Skechers U.S.A. by 26.4%, holding approximately 2.8 million shares valued at $158.74 million as of its latest SEC filing.
• Institutional investors collectively own 79.96% of Skechers U.S.A.'s stock, indicating strong confidence in the company's prospects.
• Skechers reported earnings of $1.13 per share, surpassing estimates by $0.27 and reflecting a year-over-year revenue increase of 13.1%.

Dimensional Fund Advisors LP lifted its holdings in shares of Skechers U.S.A., Inc. (NYSE:SKX - Free Report) by 26.4% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,795,753 shares of the textile maker's stock after buying an additional 583,733 shares during the quarter. Dimensional Fund Advisors LP owned approximately 1.87% of Skechers U.S.A. worth $158,739,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. NewEdge Advisors LLC lifted its stake in Skechers U.S.A. by 85.2% in the 4th quarter. NewEdge Advisors LLC now owns 413 shares of the textile maker's stock valued at $28,000 after buying an additional 190 shares in the last quarter. Investment Management Corp VA ADV acquired a new position in Skechers U.S.A. in the 4th quarter valued at $32,000. Parallel Advisors LLC raised its stake in Skechers U.S.A. by 183.0% in the 1st quarter. Parallel Advisors LLC now owns 617 shares of the textile maker's stock valued at $35,000 after purchasing an additional 399 shares during the last quarter. Golden State Wealth Management LLC acquired a new stake in Skechers U.S.A. during the 1st quarter worth $35,000. Finally, Abound Financial LLC purchased a new stake in shares of Skechers U.S.A. during the first quarter worth $35,000. 79.96% of the stock is owned by hedge funds and other institutional investors.

Skechers U.S.A. Stock Down 0.0%

NYSE:SKX traded down $0.0050 during midday trading on Friday, reaching $62.9950. The company had a trading volume of 2,202,344 shares, compared to its average volume of 3,062,563. The company has a current ratio of 2.09, a quick ratio of 1.29 and a debt-to-equity ratio of 0.02. The firm has a market capitalization of $9.47 billion, a price-to-earnings ratio of 14.38 and a beta of 1.16. The stock's fifty day simple moving average is $63.01 and its 200-day simple moving average is $59.74. Skechers U.S.A., Inc. has a 12-month low of $44.50 and a 12-month high of $78.85.

Skechers U.S.A. (NYSE:SKX - Get Free Report) last released its earnings results on Friday, August 8th. The textile maker reported $1.13 earnings per share for the quarter, topping analysts' consensus estimates 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 firm had revenue of $2.44 billion for the quarter, compared to analyst estimates of $2.35 billion. During the same period in the prior year, the firm earned $0.91 earnings per share. The business's quarterly revenue was up 13.1% compared to the same quarter last year. On average, sell-side analysts anticipate that Skechers U.S.A., Inc. will post 4.47 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of research firms recently weighed in on SKX. Wells Fargo & Company boosted their price target 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. Monness Crespi & Hardt downgraded Skechers U.S.A. from a "strong-buy" rating to a "hold" rating in a research report on Wednesday, May 7th. Raymond James Financial lowered Skechers U.S.A. from a "moderate buy" rating to a "hold" rating in a research note on Monday, May 5th. TD Cowen cut shares of Skechers U.S.A. from a "buy" rating to a "hold" rating and set a $63.00 price objective for the company. in a research report on Wednesday, May 28th. Finally, Morgan Stanley reiterated an "equal weight" rating and issued a $63.00 target price (down from $73.00) on shares of Skechers U.S.A. in a report on Wednesday, May 7th. Five investment analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the stock. Based on data from MarketBeat.com, Skechers U.S.A. has a consensus rating of "Hold" and a consensus price target of $66.75.

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.