Morton Capital Management LLC CA Cuts Holdings in Skechers U.S.A., Inc. (NYSE:SKX)

Morton Capital Management LLC CA lowered its holdings in shares of Skechers U.S.A., Inc. (NYSE:SKX - Free Report) by 59.8% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 13,781 shares of the textile maker's stock after selling 20,494 shares during the period. Morton Capital Management LLC CA's holdings in Skechers U.S.A. were worth $782,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. Vanguard Group Inc. grew its holdings in shares of Skechers U.S.A. by 0.7% during the fourth 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 lifted 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 acquiring an additional 1,011,815 shares in the last quarter. Bank of New York Mellon Corp boosted its stake in Skechers U.S.A. by 70.4% during 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 purchasing an additional 953,528 shares during the last quarter. Geode Capital Management LLC boosted its stake in Skechers U.S.A. by 3.5% during 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 purchasing an additional 78,071 shares during the last quarter. Finally, Dimensional Fund Advisors LP increased its holdings in shares of 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 in the last quarter. 79.96% of the stock is currently owned by hedge funds and other institutional investors.

Skechers U.S.A. Price Performance

NYSE:SKX traded down $0.02 during trading hours on Wednesday, hitting $62.44. 4,930,079 shares of the stock traded hands, compared to its average volume of 3,413,051. The company has a market cap of $9.34 billion, a price-to-earnings ratio of 15.01 and a beta of 1.13. Skechers U.S.A., Inc. has a 1 year low of $44.50 and a 1 year high of $78.85. The stock has a 50 day moving average price of $57.16 and a 200 day moving average price of $62.14. 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. (NYSE:SKX - Get Free Report) last issued its earnings results on Thursday, April 24th. The textile maker reported $1.34 earnings per share for the quarter, topping 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 quarterly revenue was up 7.1% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.33 EPS. Sell-side analysts forecast that Skechers U.S.A., Inc. will post 4.47 EPS for the current fiscal year.

Analysts Set New Price Targets

Several equities research analysts recently commented on SKX shares. Raymond James Financial lowered Skechers U.S.A. from a "moderate buy" rating to a "hold" rating in a research report on Monday, May 5th. UBS Group reiterated a "neutral" rating and issued a $63.00 price target (down from $64.00) on shares of Skechers U.S.A. in a research note on Tuesday, May 6th. Wall Street Zen began coverage on shares of Skechers U.S.A. in a report on Thursday, May 22nd. They set a "sell" rating for the company. Monness Crespi & Hardt cut shares of Skechers U.S.A. from a "strong-buy" rating to a "hold" rating in a report on Wednesday, May 7th. Finally, Needham & Company LLC reiterated a "hold" rating on shares of Skechers U.S.A. in a research note on Tuesday, April 22nd. One investment 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 MarketBeat.com, the stock has an average rating of "Hold" and an average target price of $67.69.

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.