TD Asset Management Inc Sells 16,936 Shares of Skechers U.S.A., Inc. (NYSE:SKX)

Key Points

• TD Asset Management Inc has reduced its holdings in Skechers U.S.A., Inc. by 61.7%, selling 16,936 shares and bringing its total ownership down to 10,502 shares valued at approximately $596,000.
• Other large investors have significantly increased their stakes in Skechers, with Victory Capital Management boosting theirs by 15,774.3%, now owning almost 3.95 million shares worth $224.27 million.
• Analyst ratings for Skechers reflect mixed opinions, with a consensus "Hold" rating and a recent price target range revised to between $60.00 and $66.75 from various firms.

TD Asset Management Inc trimmed its holdings in Skechers U.S.A., Inc. (NYSE:SKX - Free Report) by 61.7% in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 10,502 shares of the textile maker's stock after selling 16,936 shares during the period. TD Asset Management Inc's holdings in Skechers U.S.A. were worth $596,000 as of its most recent SEC filing.

Several other large investors also recently added to or reduced their stakes in the business. Victory Capital Management Inc. grew its position in Skechers U.S.A. by 15,774.3% in the first 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 in the last quarter. Anomaly Capital Management LP boosted its holdings in shares of Skechers U.S.A. by 51.2% during the 4th quarter. Anomaly Capital Management LP now owns 2,989,015 shares of the textile maker's stock worth $200,981,000 after buying an additional 1,011,815 shares during the period. Bank of New York Mellon Corp boosted its holdings in shares of Skechers U.S.A. by 7.6% during the 1st quarter. Bank of New York Mellon Corp now owns 2,482,980 shares of the textile maker's stock worth $140,984,000 after buying an additional 174,697 shares during the period. Geode Capital Management LLC boosted its holdings in shares of Skechers U.S.A. by 3.5% during the 4th quarter. Geode Capital Management LLC now owns 2,294,976 shares of the textile maker's stock worth $154,361,000 after buying an additional 78,071 shares during the period. Finally, Dimensional Fund Advisors LP boosted its holdings in shares of Skechers U.S.A. by 19.3% during the 4th quarter. Dimensional Fund Advisors LP now owns 2,212,020 shares of the textile maker's stock worth $148,743,000 after buying an additional 357,681 shares during the period. 79.96% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several research firms recently issued reports on SKX. Evercore ISI decreased their price objective on shares of Skechers U.S.A. from $78.00 to $60.00 and set an "outperform" rating for the company in a report on Thursday, April 17th. Stifel Nicolaus decreased their price objective on shares of Skechers U.S.A. from $80.00 to $62.00 and set a "buy" rating for the company in a report on Thursday, April 10th. Monness Crespi & Hardt downgraded shares of Skechers U.S.A. from a "strong-buy" rating to a "hold" rating in a report on Wednesday, May 7th. Barclays reissued an "equal weight" rating and issued a $63.00 price target (up from $53.00) on shares of Skechers U.S.A. in a report on Tuesday, May 6th. Finally, Needham & Company LLC reissued a "hold" rating on shares of Skechers U.S.A. in a report on Tuesday, April 22nd. One analyst has rated the stock with a sell rating, eight have given a hold rating and five have given a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of "Hold" and an average price target of $66.75.

Skechers U.S.A. Trading Up 0.2%

Shares of SKX stock opened at $63.10 on Tuesday. Skechers U.S.A., Inc. has a 52-week low of $44.50 and a 52-week high of $78.85. The stock has a market cap of $9.44 billion, a price-to-earnings ratio of 15.17 and a beta of 1.16. The company has a debt-to-equity ratio of 0.02, a quick ratio of 1.28 and a current ratio of 2.13. The firm has a fifty day moving average of $62.79 and a 200-day moving average of $60.68.

Skechers U.S.A. 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.

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