Massachusetts Financial Services Co. MA Sells 448,508 Shares of Skechers U.S.A., Inc. (NYSE:SKX)

Massachusetts Financial Services Co. MA trimmed its holdings in shares of Skechers U.S.A., Inc. (NYSE:SKX - Free Report) by 11.4% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 3,470,104 shares of the textile maker's stock after selling 448,508 shares during the period. Massachusetts Financial Services Co. MA owned approximately 2.32% of Skechers U.S.A. worth $197,033,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also recently bought and sold shares of SKX. Vanguard Group Inc. grew its stake in Skechers U.S.A. by 0.7% in the fourth quarter. Vanguard Group Inc. now owns 12,544,233 shares of the textile maker's stock valued at $843,474,000 after purchasing an additional 82,143 shares in the last quarter. Anomaly Capital Management LP grew its stake in Skechers U.S.A. by 51.2% in the fourth quarter. Anomaly Capital Management LP now owns 2,989,015 shares of the textile maker's stock valued at $200,981,000 after purchasing an additional 1,011,815 shares in the last quarter. Bank of New York Mellon Corp grew its stake in Skechers U.S.A. by 7.6% in the first quarter. Bank of New York Mellon Corp now owns 2,482,980 shares of the textile maker's stock valued at $140,984,000 after purchasing an additional 174,697 shares in the last quarter. Geode Capital Management LLC grew its stake in Skechers U.S.A. by 3.5% in the fourth 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 in the last quarter. Finally, Dimensional Fund Advisors LP grew its stake in Skechers U.S.A. by 19.3% in the fourth quarter. Dimensional Fund Advisors LP now owns 2,212,020 shares of the textile maker's stock valued at $148,743,000 after purchasing an additional 357,681 shares in the last quarter. 79.96% of the stock is owned by institutional investors and hedge funds.

Skechers U.S.A. Stock Performance

NYSE:SKX traded down $0.01 during mid-day trading on Friday, hitting $63.05. 767,025 shares of the company's stock traded hands, compared to its average volume of 3,572,700. The firm has a 50 day moving average of $62.53 and a two-hundred day moving average of $61.31. Skechers U.S.A., Inc. has a 12 month low of $44.50 and a 12 month high of $78.85. The firm has a market capitalization of $9.43 billion, a price-to-earnings ratio of 15.16 and a beta of 1.12. The company has a current ratio of 2.13, a quick ratio of 1.28 and a debt-to-equity ratio of 0.02.

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. Skechers U.S.A. had a return on equity of 13.34% and a net margin of 6.96%. The firm had revenue of $2.41 billion during the quarter, compared to the consensus estimate of $2.43 billion. During the same quarter in the prior year, the company earned $1.33 EPS. The firm's revenue for the quarter was up 7.1% compared to the same quarter last year. On average, equities analysts forecast that Skechers U.S.A., Inc. will post 4.47 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of research analysts have commented on SKX shares. Wall Street Zen started coverage on Skechers U.S.A. in a research note on Thursday, May 22nd. They issued a "sell" rating on the stock. Bank of America lowered their target price 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. Morgan Stanley reiterated an "equal weight" rating and set a $63.00 price target (down previously from $73.00) on shares of Skechers U.S.A. in a research note on Wednesday, May 7th. Raymond James Financial downgraded Skechers U.S.A. from a "moderate buy" rating to a "hold" rating in a research note on Monday, May 5th. Finally, Monness Crespi & Hardt downgraded Skechers U.S.A. from a "strong-buy" rating to a "hold" rating in a research note on Wednesday, May 7th. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating and six have issued a buy rating to the company's stock. According to data from MarketBeat.com, the stock has an average rating of "Hold" and a consensus 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.