Dimensional Fund Advisors LP Has $158.74 Million Position in Skechers U.S.A., Inc. $SKX

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

Several other institutional investors have also made changes to their positions in the stock. HB Wealth Management LLC increased its position in Skechers U.S.A. by 4.3% in the 1st quarter. HB Wealth Management LLC now owns 4,107 shares of the textile maker's stock worth $233,000 after purchasing an additional 168 shares during the last quarter. National Bank of Canada FI raised its holdings in shares of Skechers U.S.A. by 8.5% during the 1st quarter. National Bank of Canada FI now owns 2,400 shares of the textile maker's stock valued at $136,000 after purchasing an additional 189 shares in the last quarter. NewEdge Advisors LLC raised its holdings in shares of Skechers U.S.A. by 85.2% during the 4th quarter. NewEdge Advisors LLC now owns 413 shares of the textile maker's stock valued at $28,000 after purchasing an additional 190 shares in the last quarter. PNC Financial Services Group Inc. lifted its stake in shares of Skechers U.S.A. by 2.8% in the 1st quarter. PNC Financial Services Group Inc. now owns 7,551 shares of the textile maker's stock valued at $429,000 after purchasing an additional 204 shares during the last quarter. Finally, Delphi Management Inc. MA boosted its holdings in Skechers U.S.A. by 1.0% in the first quarter. Delphi Management Inc. MA now owns 22,797 shares of the textile maker's stock worth $1,294,000 after purchasing an additional 236 shares in the last quarter. 79.96% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on SKX shares. UBS Group reiterated a "neutral" rating and set a $63.00 price target (down previously from $64.00) on shares of Skechers U.S.A. in a report on Tuesday, May 6th. Barclays reiterated 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 note on Tuesday, May 6th. TD Cowen lowered shares of Skechers U.S.A. from a "buy" rating to a "hold" rating and set a $63.00 target price for the company. in a research report on Wednesday, May 28th. 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. Finally, Wells Fargo & Company boosted their price objective on 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. Five research analysts have rated the stock with a Buy rating and eight have assigned a Hold rating to the company. According to data from MarketBeat.com, the company has a consensus rating of "Hold" and a consensus target price of $66.75.

Skechers U.S.A. Stock Performance

Shares of NYSE SKX traded up $0.0050 during mid-day trading on Monday, hitting $63.0050. The company had a trading volume of 1,819,777 shares, compared to its average volume of 3,020,547. Skechers U.S.A., Inc. has a 12 month low of $44.50 and a 12 month high of $78.85. The firm has a market cap of $9.47 billion, a P/E ratio of 14.38 and a beta of 1.16. The business's 50-day simple moving average is $63.02 and its 200-day simple moving average is $59.50. 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 issued its earnings results on Friday, August 8th. The textile maker reported $1.13 EPS for the quarter, topping the consensus estimate 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%.Skechers U.S.A.'s quarterly revenue was up 13.1% compared to the same quarter last year. During the same period last year, the business earned $0.91 earnings per share. As a group, analysts predict 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.