KBC Group NV Sells 48,342 Shares of Skechers U.S.A., Inc. (NYSE:SKX)

KBC Group NV decreased its position in shares of Skechers U.S.A., Inc. (NYSE:SKX - Free Report) by 24.7% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 147,161 shares of the textile maker's stock after selling 48,342 shares during the quarter. KBC Group NV owned 0.10% of Skechers U.S.A. worth $8,356,000 at the end of the most recent reporting period.

A number of other large investors have also recently bought and sold shares of SKX. Raymond James Financial Inc. bought a new stake in shares of Skechers U.S.A. during the 4th quarter worth approximately $12,852,000. Hudson Bay Capital Management LP bought a new position in Skechers U.S.A. in the fourth quarter valued at approximately $5,804,000. Praxis Investment Management Inc. acquired a new position in Skechers U.S.A. during the first quarter valued at approximately $232,000. Schroder Investment Management Group lifted its stake in Skechers U.S.A. by 11.3% during the fourth quarter. Schroder Investment Management Group now owns 177,343 shares of the textile maker's stock worth $12,010,000 after purchasing an additional 18,024 shares during the last quarter. Finally, Jefferies Financial Group Inc. bought a new stake in Skechers U.S.A. during the fourth quarter worth $1,110,000. 79.96% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on SKX shares. Bank of America decreased their price target on Skechers U.S.A. from $76.00 to $70.00 and set a "buy" rating on the stock in a research note on Monday, March 24th. TD Cowen cut 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. Morgan Stanley reissued 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 note on Wednesday, May 7th. Stifel Nicolaus reduced their price target on shares of Skechers U.S.A. from $80.00 to $62.00 and set a "buy" rating on the stock in a research note on Thursday, April 10th. Finally, Wall Street Zen initiated coverage on shares of Skechers U.S.A. in a report on Thursday, May 22nd. They set a "sell" rating on the stock. One investment analyst has rated the stock with a sell rating, eight have given a hold rating and six have given a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus target price of $67.69.

Skechers U.S.A. Trading Up 0.2%

NYSE SKX traded up $0.12 during trading hours on Wednesday, reaching $63.24. The company's stock had a trading volume of 6,994,410 shares, compared to its average volume of 3,536,701. The firm has a fifty day simple moving average of $60.06 and a 200-day simple moving average of $61.63. The company has a debt-to-equity ratio of 0.02, a current ratio of 2.13 and a quick ratio of 1.28. Skechers U.S.A., Inc. has a 52 week low of $44.50 and a 52 week high of $78.85. The stock has a market cap of $9.46 billion, a P/E ratio of 15.20 and a beta of 1.12.

Skechers U.S.A. (NYSE:SKX - Get Free Report) last announced its quarterly earnings results on Thursday, April 24th. The textile maker reported $1.34 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.17 by $0.17. The firm had revenue of $2.41 billion during the quarter, compared to analysts' expectations of $2.43 billion. Skechers U.S.A. had a net margin of 6.96% and a return on equity of 13.34%. The company's revenue was up 7.1% on a year-over-year basis. During the same period in the prior year, the company posted $1.33 EPS. Equities 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.