Fiduciary Management Inc. WI Has $160.90 Million Stock Holdings in Skechers U.S.A., Inc. $SKX

Key Points

• Fiduciary Management Inc. WI increased its holdings of Skechers U.S.A. by 12.9% in Q1, reaching a total of approximately 2.83 million shares, making Skechers 1.6% of its portfolio.
• Other institutional investors significantly boosted their positions in Skechers, with Victory Capital Management Inc. increasing its stake by 15,774.3%, now owning nearly 3.95 million shares.
• Skechers reported a strong Q2 earnings result, posting an EPS of $1.13, exceeding expectations of $0.86, along with a revenue of $2.44 billion, up by 13.1% year-over-year.

Fiduciary Management Inc. WI grew its stake in Skechers U.S.A., Inc. (NYSE:SKX - Free Report) by 12.9% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 2,833,785 shares of the textile maker's stock after purchasing an additional 324,007 shares during the quarter. Skechers U.S.A. comprises approximately 1.6% of Fiduciary Management Inc. WI's holdings, making the stock its 28th largest holding. Fiduciary Management Inc. WI owned 1.89% of Skechers U.S.A. worth $160,902,000 as of its most recent SEC filing.

A number of other large investors have also made changes to their positions in SKX. Mariner LLC increased its position in shares of Skechers U.S.A. by 39.7% in the 4th quarter. Mariner LLC now owns 7,200 shares of the textile maker's stock valued at $484,000 after buying an additional 2,045 shares in the last quarter. NewEdge Advisors LLC increased its position in shares of Skechers U.S.A. by 85.2% in the 4th quarter. NewEdge Advisors LLC now owns 413 shares of the textile maker's stock valued at $28,000 after buying an additional 190 shares in the last quarter. First Trust Advisors LP increased its position in shares of Skechers U.S.A. by 13.2% in the 4th quarter. First Trust Advisors LP now owns 313,992 shares of the textile maker's stock valued at $21,113,000 after buying an additional 36,498 shares in the last quarter. Dimensional Fund Advisors LP increased its position 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 valued at $148,743,000 after buying an additional 357,681 shares in the last quarter. Finally, MetLife Investment Management LLC increased its position in shares of Skechers U.S.A. by 8.2% in the 4th quarter. MetLife Investment Management LLC now owns 74,687 shares of the textile maker's stock valued at $5,022,000 after buying an additional 5,676 shares in the last quarter. Institutional investors own 79.96% of the company's stock.

Analysts Set New Price Targets

A number of research firms recently commented on SKX. Raymond James Financial cut shares of Skechers U.S.A. from a "moderate buy" rating to a "hold" rating in a research report on Monday, May 5th. Wall Street Zen initiated coverage on shares of Skechers U.S.A. in a research note on Thursday, May 22nd. They issued a "sell" rating for the company. 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. UBS Group reaffirmed a "neutral" rating and issued a $63.00 target price (down from $64.00) on shares of Skechers U.S.A. in a research note on Tuesday, May 6th. Finally, Monness Crespi & Hardt lowered shares of Skechers U.S.A. from a "strong-buy" rating to a "hold" rating in a research note on Wednesday, May 7th. Five equities research analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus price target of $66.75.

Skechers U.S.A. Stock Down 0.0%

NYSE:SKX traded down $0.0050 on Friday, hitting $62.9950. 2,202,344 shares of the company's stock were exchanged, compared to its average volume of 3,020,547. The firm has a 50-day moving average price of $63.01 and a 200-day moving average price of $59.52. The company has a debt-to-equity ratio of 0.02, a current ratio of 2.09 and a quick ratio of 1.29. 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 cap of $9.47 billion, a P/E ratio of 14.38 and a beta of 1.16.

Skechers U.S.A. (NYSE:SKX - Get Free Report) last issued its quarterly earnings results on Friday, August 8th. The textile maker reported $1.13 EPS for the quarter, topping the consensus estimate of $0.86 by $0.27. Skechers U.S.A. had a net margin of 7.07% and a return on equity of 13.44%. The firm had revenue of $2.44 billion for the quarter, compared to analysts' expectations of $2.35 billion. During the same period in the previous year, the firm posted $0.91 EPS. The company's revenue for the quarter was up 13.1% on a year-over-year basis. As a group, analysts expect 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.