Raymond James Financial Inc. Decreases Position in Skechers U.S.A., Inc. $SKX

Raymond James Financial Inc. lowered its holdings in Skechers U.S.A., Inc. (NYSE:SKX - Free Report) by 39.1% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 116,339 shares of the textile maker's stock after selling 74,798 shares during the quarter. Raymond James Financial Inc. owned about 0.08% of Skechers U.S.A. worth $6,606,000 at the end of the most recent quarter.

Several other hedge funds have also bought and sold shares of the business. Victory Capital Management Inc. boosted its holdings in Skechers U.S.A. by 15,774.3% during the 1st quarter. Victory Capital Management Inc. now owns 3,949,844 shares of the textile maker's stock worth $224,272,000 after acquiring an additional 3,924,962 shares during the last quarter. Duquesne Family Office LLC purchased a new position in Skechers U.S.A. during the 4th quarter worth $72,272,000. Two Sigma Investments LP boosted its holdings in Skechers U.S.A. by 772.7% during the 4th quarter. Two Sigma Investments LP now owns 1,176,488 shares of the textile maker's stock worth $79,107,000 after acquiring an additional 1,041,677 shares during the last quarter. Two Sigma Advisers LP boosted its holdings in Skechers U.S.A. by 381.0% during the 4th quarter. Two Sigma Advisers LP now owns 1,081,800 shares of the textile maker's stock worth $72,740,000 after acquiring an additional 856,900 shares during the last quarter. Finally, Nuveen LLC purchased a new position in Skechers U.S.A. during the 1st quarter worth $34,525,000. Institutional investors and hedge funds own 79.96% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on the stock. Needham & Company LLC restated a "hold" rating on shares of Skechers U.S.A. in a research report on Wednesday, August 27th. Zacks Research raised shares of Skechers U.S.A. from a "hold" rating to a "strong-buy" rating in a report on Tuesday, August 26th. TD Cowen downgraded shares of Skechers U.S.A. from a "buy" rating to a "hold" rating and set a $63.00 price objective on the stock. in a report on Wednesday, May 28th. Wall Street Zen raised shares of Skechers U.S.A. to a "hold" rating in a report on Saturday, August 30th. Finally, Argus downgraded shares of Skechers U.S.A. from a "buy" rating to a "hold" rating and set a $63.00 price objective on the stock. in a report on Tuesday, August 26th. One analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and nine have assigned a Hold rating to the company. Based on data from MarketBeat, Skechers U.S.A. currently has an average rating of "Hold" and an average target price of $66.46.

Skechers U.S.A. Price Performance

Shares of SKX stock traded down $0.02 during trading on Friday, hitting $63.22. The company had a trading volume of 3,003,301 shares, compared to its average volume of 4,450,620. The company has a quick ratio of 1.29, a current ratio of 2.09 and a debt-to-equity ratio of 0.02. The stock's 50-day moving average is $63.10 and its two-hundred day moving average is $59.51. The stock has a market capitalization of $9.50 billion, a price-to-earnings ratio of 14.43 and a beta of 1.19. Skechers U.S.A., Inc. has a 52 week low of $44.50 and a 52 week high of $78.85.

Skechers U.S.A. (NYSE:SKX - Get Free Report) last posted its quarterly earnings data on Friday, August 8th. The textile maker reported $1.13 earnings per share for the quarter, topping the consensus estimate of $0.86 by $0.27. The company had revenue of $2.44 billion for the quarter, compared to analysts' expectations of $2.35 billion. Skechers U.S.A. had a net margin of 7.07% and a return on equity of 13.44%. Skechers U.S.A.'s revenue for the quarter was up 13.1% compared to the same quarter last year. During the same period in the prior year, the business earned $0.91 earnings per share. As a group, analysts predict that Skechers U.S.A., Inc. will post 4.47 EPS 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.