Skechers U.S.A., Inc. (NYSE:SKX) Shares Purchased by Handelsbanken Fonder AB

Handelsbanken Fonder AB boosted its position in Skechers U.S.A., Inc. (NYSE:SKX - Free Report) by 17.1% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 41,790 shares of the textile maker's stock after buying an additional 6,100 shares during the period. Handelsbanken Fonder AB's holdings in Skechers U.S.A. were worth $2,373,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the company. Vanguard Group Inc. grew its position in Skechers U.S.A. by 0.7% in the 4th quarter. Vanguard Group Inc. now owns 12,544,233 shares of the textile maker's stock valued at $843,474,000 after buying an additional 82,143 shares during the last quarter. Anomaly Capital Management LP grew its position in Skechers U.S.A. by 51.2% in the 4th quarter. Anomaly Capital Management LP now owns 2,989,015 shares of the textile maker's stock valued at $200,981,000 after buying an additional 1,011,815 shares during the last quarter. Bank of New York Mellon Corp grew its position in 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 last quarter. Geode Capital Management LLC grew 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 during the last quarter. Finally, Dimensional Fund Advisors LP grew its position in Skechers U.S.A. by 19.3% in the 4th quarter. Dimensional Fund Advisors LP now owns 2,212,020 shares of the textile maker's stock valued at $148,743,000 after buying an additional 357,681 shares during the last quarter. 79.96% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on the stock. Barclays restated an "equal weight" rating and set a $63.00 target price (up from $53.00) on shares of Skechers U.S.A. in a research report on Tuesday, May 6th. UBS Group restated a "neutral" rating and set a $63.00 target price (down from $64.00) on shares of Skechers U.S.A. in a research report on Tuesday, May 6th. Morgan Stanley restated an "equal weight" rating and set a $63.00 target price (down from $73.00) on shares of Skechers U.S.A. in a research report on Wednesday, May 7th. Monness Crespi & Hardt lowered shares of Skechers U.S.A. from a "strong-buy" rating to a "hold" rating in a research report on Wednesday, May 7th. Finally, Needham & Company LLC restated a "hold" rating on shares of Skechers U.S.A. in a research report on Tuesday, April 22nd. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating and six have given a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of "Hold" and an average target price of $67.69.

Skechers U.S.A. Price Performance

Shares of Skechers U.S.A. stock traded down $0.07 on Tuesday, hitting $62.47. The company's stock had a trading volume of 5,046,844 shares, compared to its average volume of 3,406,984. Skechers U.S.A., Inc. has a 52-week low of $44.50 and a 52-week high of $78.85. The company has a quick ratio of 1.28, a current ratio of 2.13 and a debt-to-equity ratio of 0.02. The firm has a fifty day moving average price of $57.16 and a 200-day moving average price of $62.14. The company has a market capitalization of $9.34 billion, a P/E ratio of 15.02 and a beta of 1.13.

Skechers U.S.A. (NYSE:SKX - Get Free Report) last released 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 6.96% and a return on equity of 13.34%. The business had revenue of $2.41 billion for the quarter, compared to analyst estimates of $2.43 billion. During the same period in the previous year, the firm earned $1.33 EPS. The business's revenue for the quarter was up 7.1% compared to the same quarter last year. On average, equities research analysts expect that Skechers U.S.A., Inc. will post 4.47 earnings per share for the current fiscal year.

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.