T. Rowe Price Investment Management Inc. Has $15.54 Million Holdings in Skechers U.S.A., Inc. $SKX

Key Points

• T. Rowe Price Investment Management Inc. significantly reduced its stake in Skechers U.S.A. by 67.9% during the first quarter, now holding 273,660 shares.
• Victory Capital Management Inc. dramatically increased its holdings by 15,774.3%, owning nearly 3.95 million shares of Skechers U.S.A. after boosting its investment.
• Analysts' consensus rating for Skechers U.S.A. is currently a "Hold" with an average price target of $66.75, reflecting a mix of buy, hold, and sell recommendations.

T. Rowe Price Investment Management Inc. decreased its stake in shares of Skechers U.S.A., Inc. (NYSE:SKX - Free Report) by 67.9% in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 273,660 shares of the textile maker's stock after selling 579,864 shares during the quarter. T. Rowe Price Investment Management Inc. owned about 0.18% of Skechers U.S.A. worth $15,539,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the stock. Carmignac Gestion raised its stake in shares of Skechers U.S.A. by 30.9% in the first quarter. Carmignac Gestion now owns 360,000 shares of the textile maker's stock valued at $20,441,000 after acquiring an additional 85,000 shares during the period. Banco Bilbao Vizcaya Argentaria S.A. purchased a new position in Skechers U.S.A. during the 1st quarter valued at about $288,000. Foyston Gordon & Payne Inc grew its position in shares of Skechers U.S.A. by 65.9% in the 1st quarter. Foyston Gordon & Payne Inc now owns 5,143 shares of the textile maker's stock worth $292,000 after buying an additional 2,043 shares during the last quarter. Cambiar Investors LLC purchased a new stake in Skechers U.S.A. during the 1st quarter worth approximately $7,382,000. Finally, Dimensional Fund Advisors LP lifted its stake in Skechers U.S.A. by 26.4% during the 1st quarter. Dimensional Fund Advisors LP now owns 2,795,753 shares of the textile maker's stock valued at $158,739,000 after acquiring an additional 583,733 shares during the period. Institutional investors own 79.96% of the company's stock.

Skechers U.S.A. Stock Performance

Shares of SKX stock traded up $0.01 on Friday, hitting $63.09. 2,438,059 shares of the stock traded hands, compared to its average volume of 4,477,177. The company has a debt-to-equity ratio of 0.02, a current ratio of 2.09 and a quick ratio of 1.29. The company has a market capitalization of $9.48 billion, a PE ratio of 14.40 and a beta of 1.16. Skechers U.S.A., Inc. has a 1-year low of $44.50 and a 1-year high of $78.85. The company's fifty day moving average is $63.06 and its 200 day moving average is $59.54.

Skechers U.S.A. (NYSE:SKX - Get Free Report) last issued its earnings results 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. Skechers U.S.A. had a return on equity of 13.44% and a net margin of 7.07%.The firm had revenue of $2.44 billion for the quarter, compared to analyst estimates of $2.35 billion. During the same period last year, the company earned $0.91 earnings per share. The firm's revenue for the quarter was up 13.1% on a year-over-year basis. On average, equities research analysts predict that Skechers U.S.A., Inc. will post 4.47 earnings per share for the current fiscal year.

Analyst Ratings Changes

SKX has been the subject of a number of research analyst reports. Wall Street Zen initiated coverage on shares of Skechers U.S.A. in a research report on Thursday, May 22nd. They set a "sell" rating for the company. Needham & Company LLC reaffirmed a "hold" rating on shares of Skechers U.S.A. in a report on Wednesday. Zacks Research upgraded shares of Skechers U.S.A. from a "hold" rating to a "strong-buy" rating in a research note on Tuesday. Barclays restated an "equal weight" rating and set a $63.00 target price (up from $53.00) on shares of Skechers U.S.A. in a research report on Tuesday, May 6th. Finally, UBS Group reissued a "neutral" rating and issued a $63.00 price objective (down from $64.00) on shares of Skechers U.S.A. in a research note on Tuesday, May 6th. One research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and nine have given a Hold rating to the stock. Based on data from MarketBeat.com, the company has an average rating of "Hold" and an average target price of $66.46.

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.