Junto Capital Management LP Invests $24.74 Million in Skechers U.S.A., Inc. $SKX

Key Points

• Junto Capital Management LP invested approximately $24.74 million in Skechers U.S.A., acquiring 435,724 shares of the company.
• Skechers U.S.A. saw several institutional investors increase their holdings, with 79.96% of the company's stock now owned by institutional investors.
• Recent analyst ratings have generally downgraded Skechers U.S.A. stock, with the average consensus rating now a Hold and a target price of $66.46.

Junto Capital Management LP purchased a new position in shares of Skechers U.S.A., Inc. (NYSE:SKX - Free Report) in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The firm purchased 435,724 shares of the textile maker's stock, valued at approximately $24,740,000. Junto Capital Management LP owned about 0.29% of Skechers U.S.A. as of its most recent filing with the SEC.

Several other hedge funds have also recently added to or reduced their stakes in the company. HB Wealth Management LLC raised its holdings in Skechers U.S.A. by 4.3% during 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 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 worth $136,000 after purchasing an additional 189 shares during the last quarter. NewEdge Advisors LLC raised its holdings in Skechers U.S.A. by 85.2% during the 4th quarter. NewEdge Advisors LLC now owns 413 shares of the textile maker's stock worth $28,000 after purchasing an additional 190 shares during the last quarter. PNC Financial Services Group Inc. raised its holdings in Skechers U.S.A. by 2.8% during the 1st quarter. PNC Financial Services Group Inc. now owns 7,551 shares of the textile maker's stock worth $429,000 after purchasing an additional 204 shares during the last quarter. Finally, Delphi Management Inc. MA raised its holdings in Skechers U.S.A. by 1.0% during the 1st 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 during the last quarter. Institutional investors own 79.96% of the company's stock.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on SKX shares. Morgan Stanley reiterated an "equal weight" rating and set a $63.00 target price (down previously from $73.00) on shares of Skechers U.S.A. in a research report on Wednesday, May 7th. TD Cowen downgraded 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 research report on Wednesday, May 28th. Argus downgraded 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 research report on Tuesday, August 26th. Barclays reiterated an "equal weight" rating and set a $63.00 target price (up previously from $53.00) on shares of Skechers U.S.A. in a research report on Tuesday, May 6th. Finally, Wells Fargo & Company boosted their target price on shares of Skechers U.S.A. from $57.00 to $63.00 and gave the company an "overweight" rating in a research report on Tuesday, May 6th. One research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and nine have given a Hold rating to the company. Based on data from MarketBeat.com, Skechers U.S.A. presently has an average rating of "Hold" and a consensus price target of $66.46.

Skechers U.S.A. Stock Performance

NYSE SKX traded up $0.08 during trading on Tuesday, hitting $63.16. 2,647,790 shares of the company's stock traded hands, compared to its average volume of 4,475,431. The stock has a market capitalization of $9.49 billion, a price-to-earnings ratio of 14.42 and a beta of 1.19. Skechers U.S.A., Inc. has a 12-month low of $44.50 and a 12-month high of $78.85. The company has a debt-to-equity ratio of 0.02, a quick ratio of 1.29 and a current ratio of 2.09. The business has a 50 day moving average of $63.09 and a 200-day moving average of $59.49.

Skechers U.S.A. (NYSE:SKX - Get Free Report) last released its quarterly earnings data on Friday, August 8th. The textile maker reported $1.13 EPS for the quarter, beating the consensus estimate of $0.86 by $0.27. The business had revenue of $2.44 billion for 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% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.91 earnings per share. As a group, equities research analysts anticipate 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.