KBC Group NV Reduces Position in Skechers U.S.A., Inc. (NYSE:SKX)

KBC Group NV reduced its position in Skechers U.S.A., Inc. (NYSE:SKX - Free Report) by 24.7% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). 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 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Vanguard Group Inc. raised 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 worth $843,474,000 after purchasing an additional 82,143 shares during the period. Anomaly Capital Management LP raised 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 worth $200,981,000 after purchasing an additional 1,011,815 shares during the period. Geode Capital Management LLC raised 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 worth $154,361,000 after purchasing an additional 78,071 shares during the period. Dimensional Fund Advisors LP raised 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 worth $148,743,000 after purchasing an additional 357,681 shares during the period. Finally, Norges Bank purchased a new stake in Skechers U.S.A. in the 4th quarter worth about $105,741,000. 79.96% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of analysts recently weighed in on the stock. 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. Barclays reaffirmed 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. Raymond James Financial lowered shares of Skechers U.S.A. from a "moderate buy" rating to a "hold" rating in a research report on Monday, May 5th. Bank of America reduced their target price on shares of Skechers U.S.A. from $76.00 to $70.00 and set a "buy" rating on the stock in a research report on Monday, March 24th. Finally, TD Cowen lowered 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. One research analyst has rated the stock with a sell rating, eight have given a hold rating and six have given a buy rating to the company's stock. Based on data from MarketBeat, Skechers U.S.A. currently has a consensus rating of "Hold" and an average price target of $67.69.

Skechers U.S.A. Stock Up 0.0%

SKX stock traded up $0.02 during trading on Friday, hitting $63.27. 2,074,270 shares of the company's stock traded hands, compared to its average volume of 3,554,085. The firm has a market capitalization of $9.47 billion, a P/E ratio of 15.21 and a beta of 1.12. The business has a fifty day simple moving average of $60.91 and a two-hundred day simple moving average of $61.57. The company has a quick ratio of 1.28, a current ratio of 2.13 and a debt-to-equity ratio of 0.02. Skechers U.S.A., Inc. has a 1 year low of $44.50 and a 1 year high of $78.85.

Skechers U.S.A. (NYSE:SKX - Get Free Report) last announced its earnings results on Thursday, April 24th. The textile maker reported $1.34 earnings per share for the quarter, beating the consensus estimate of $1.17 by $0.17. The company had revenue of $2.41 billion during the quarter, compared to the consensus estimate of $2.43 billion. Skechers U.S.A. had a net margin of 6.96% and a return on equity of 13.34%. Skechers U.S.A.'s revenue was up 7.1% compared to the same quarter last year. During the same period last year, the firm earned $1.33 earnings per share. Sell-side analysts anticipate that Skechers U.S.A., Inc. will post 4.47 EPS for the current 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.