Theleme Partners LLP Has $70.69 Million 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 holdings in shares of Skechers U.S.A., Inc. (NYSE:SKX - Free Report) by 19.9% in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund 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 holdings, making the stock its 9th biggest position. Theleme Partners LLP owned about 0.83% of Skechers U.S.A. worth $70,691,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in the business. Captrust Financial Advisors increased its holdings in Skechers U.S.A. by 8.9% during the fourth quarter. Captrust Financial Advisors now owns 5,624 shares of the textile maker's stock valued at $378,000 after buying an additional 461 shares during the last quarter. Cetera Investment Advisers increased its stake in shares of Skechers U.S.A. by 3.0% in the 4th quarter. Cetera Investment Advisers now owns 33,166 shares of the textile maker's stock worth $2,230,000 after purchasing an additional 951 shares in the last quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main increased its stake in shares of Skechers U.S.A. by 5.8% in the 4th quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 77,761 shares of the textile maker's stock worth $5,229,000 after purchasing an additional 4,257 shares in the last quarter. Fund 1 Investments LLC purchased a new position in Skechers U.S.A. during the fourth quarter valued at $231,000. Finally, Hudson Bay Capital Management LP purchased a new position in Skechers U.S.A. during the fourth quarter valued at $5,804,000. Institutional investors own 79.96% of the company's stock.

Skechers U.S.A. Price Performance

Shares of SKX traded down $0.06 during mid-day trading on Wednesday, hitting $63.21. 1,417,853 shares of the stock were exchanged, compared to its average volume of 4,409,553. The company has a debt-to-equity ratio of 0.02, a quick ratio of 1.29 and a current ratio of 2.09. The company has a market cap of $9.50 billion, a PE ratio of 14.43 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 firm has a 50-day moving average of $63.11 and a two-hundred day moving average of $59.45.

Skechers U.S.A. (NYSE:SKX - Get Free Report) last posted its quarterly earnings data on Friday, August 8th. The textile maker reported $1.13 earnings per share (EPS) for the quarter, beating 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 business had revenue of $2.44 billion during the quarter, compared to analyst estimates of $2.35 billion. During the same period last year, the company earned $0.91 EPS. The company's revenue for the quarter was up 13.1% on a year-over-year basis. On average, equities analysts predict that Skechers U.S.A., Inc. will post 4.47 earnings per share for the current year.

Wall Street Analyst Weigh In

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

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.