Theleme Partners LLP Has $70.69 Million Stock Position in Skechers U.S.A., Inc. $SKX

Key Points

• Theleme Partners LLP reduced its stake in Skechers U.S.A., Inc. by 19.9%, now holding 1,245,000 shares after selling 310,000 shares during the first quarter, making it the 9th largest position in their portfolio.
• Skechers reported earnings of $1.13 per share for the last quarter, exceeding expectations and showing a revenue increase of 13.1% year-over-year to $2.44 billion.
• Despite recent downgrades by some analysts, Skechers has a consensus rating of "Hold" with a price target of $66.46.

Theleme Partners LLP lowered its stake in shares of Skechers U.S.A., Inc. (NYSE:SKX - Free Report) by 19.9% in the 1st quarter, according to the company in its most recent disclosure with the SEC. The firm owned 1,245,000 shares of the textile maker's stock after selling 310,000 shares during the quarter. Skechers U.S.A. makes up approximately 5.6% of Theleme Partners LLP's portfolio, making the stock its 9th largest holding. Theleme Partners LLP owned about 0.83% of Skechers U.S.A. worth $70,691,000 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in SKX. Investment Management Corp VA ADV bought a new stake in Skechers U.S.A. in the fourth quarter worth about $32,000. Banque Transatlantique SA purchased a new stake in shares of Skechers U.S.A. during the 1st quarter worth approximately $26,000. Parallel Advisors LLC raised its holdings in shares of Skechers U.S.A. by 183.0% in the 1st quarter. Parallel Advisors LLC now owns 617 shares of the textile maker's stock worth $35,000 after purchasing an additional 399 shares during the period. Golden State Wealth Management LLC purchased a new position in Skechers U.S.A. in the first quarter valued at approximately $35,000. Finally, Abound Financial LLC purchased a new position in Skechers U.S.A. in the first quarter valued at approximately $35,000. Hedge funds and other institutional investors own 79.96% of the company's stock.

Wall Street Analyst Weigh In

SKX has been the subject of a number of recent research reports. TD Cowen downgraded 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 report on Wednesday, May 28th. Needham & Company LLC reiterated a "hold" rating on shares of Skechers U.S.A. in a research note on Wednesday, August 27th. Argus lowered Skechers U.S.A. from a "buy" rating to a "hold" rating and set a $63.00 price objective for the company. in a report on Tuesday, August 26th. Zacks Research upgraded Skechers U.S.A. from a "hold" rating to a "strong-buy" rating in a research note on Tuesday, August 26th. Finally, Wall Street Zen raised shares of Skechers U.S.A. to a "hold" rating in a report on Saturday, August 30th. One analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and nine have given a Hold rating to the company's stock. According to data from MarketBeat, the company presently has a consensus rating of "Hold" and an average target price of $66.46.

Skechers U.S.A. Price Performance

SKX stock traded down $0.03 during mid-day trading on Friday, reaching $63.18. 41,053,579 shares of the company traded hands, compared to its average volume of 2,682,309. 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 $9.49 billion, a P/E ratio of 14.42 and a beta of 1.19. 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 fifty day moving average price of $63.11 and a 200-day moving average price of $59.46.

Skechers U.S.A. (NYSE:SKX - Get Free Report) last announced its quarterly earnings results on Friday, August 8th. The textile maker reported $1.13 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.86 by $0.27. The firm had revenue of $2.44 billion for the quarter, compared to the consensus estimate of $2.35 billion. Skechers U.S.A. had a net margin of 7.07% and a return on equity of 13.44%. The company's revenue for the quarter was up 13.1% on a year-over-year basis. During the same period in the prior year, the firm posted $0.91 earnings per share. As a group, analysts anticipate that Skechers U.S.A., Inc. will post 4.47 earnings per share for the current year.

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.