Shufro Rose & Co. LLC Takes $426,000 Position in Skechers U.S.A., Inc. (NYSE:SKX)

Key Points

• Shufro Rose & Co. LLC has acquired a new stake in Skechers U.S.A., purchasing 7,500 shares valued at approximately $426,000 during the first quarter.
• Several institutional investors have also increased their positions in Skechers, with 79.96% of the company's stock now owned by such entities.
• Analysts have set a new consensus price target of $66.75 for Skechers, with ratings ranging from sell to hold and buy across different firms.

Shufro Rose & Co. LLC purchased a new stake in shares of Skechers U.S.A., Inc. (NYSE:SKX - Free Report) during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 7,500 shares of the textile maker's stock, valued at approximately $426,000.

Several other institutional investors also recently modified their holdings of SKX. LPL Financial LLC raised its position in Skechers U.S.A. by 29.6% in the 4th quarter. LPL Financial LLC now owns 77,976 shares of the textile maker's stock worth $5,243,000 after buying an additional 17,791 shares during the last quarter. Pictet Asset Management Holding SA raised its holdings in shares of Skechers U.S.A. by 11.2% during the fourth quarter. Pictet Asset Management Holding SA now owns 105,929 shares of the textile maker's stock valued at $7,123,000 after purchasing an additional 10,668 shares during the last quarter. Schroder Investment Management Group lifted its position 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 valued at $12,010,000 after purchasing an additional 18,024 shares during the period. Wellington Management Group LLP boosted its holdings in Skechers U.S.A. by 6.3% in the fourth quarter. Wellington Management Group LLP now owns 1,090,413 shares of the textile maker's stock worth $73,319,000 after purchasing an additional 64,857 shares during the last quarter. Finally, Franklin Resources Inc. boosted its holdings in Skechers U.S.A. by 7.5% in the fourth quarter. Franklin Resources Inc. now owns 177,663 shares of the textile maker's stock worth $11,946,000 after purchasing an additional 12,449 shares during the last quarter. 79.96% of the stock is owned by hedge funds and other institutional investors.

Skechers U.S.A. Stock Performance

Skechers U.S.A. stock traded down $0.27 during midday trading on Friday, hitting $62.98. The stock had a trading volume of 7,925,479 shares, compared to its average volume of 2,850,975. Skechers U.S.A., Inc. has a 52-week low of $44.50 and a 52-week high of $78.85. The company has a market capitalization of $9.42 billion, a PE ratio of 15.14 and a beta of 1.16. The firm's fifty day moving average is $62.77 and its two-hundred day moving average is $60.79. The company has a current ratio of 2.13, a quick ratio of 1.28 and a debt-to-equity ratio of 0.02.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on the stock. TD Cowen lowered shares of Skechers U.S.A. from a "buy" rating to a "hold" rating and set a $63.00 target price for the company. in a research note on Wednesday, May 28th. Morgan Stanley reaffirmed an "equal weight" rating and issued a $63.00 price objective (down previously from $73.00) on shares of Skechers U.S.A. in a report on Wednesday, May 7th. Wells Fargo & Company increased their target price on Skechers U.S.A. from $57.00 to $63.00 and gave the company an "overweight" rating in a report on Tuesday, May 6th. Monness Crespi & Hardt cut Skechers U.S.A. from a "strong-buy" rating to a "hold" rating in a research report on Wednesday, May 7th. Finally, Evercore ISI reduced their price target on shares of Skechers U.S.A. from $78.00 to $60.00 and set an "outperform" rating for the company in a research report on Thursday, April 17th. One analyst has rated the stock with a sell rating, eight have issued a hold rating and five have given a buy rating to the company's stock. According to data from MarketBeat.com, Skechers U.S.A. currently has an average rating of "Hold" and an average price target of $66.75.

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.