Skechers U.S.A., Inc. (NYSE:SKX) Shares Purchased by Todd Asset Management LLC

Key Points

• Todd Asset Management LLC increased its stock position in Skechers U.S.A. by 8.3%, owning a total of 456,653 shares valued at approximately $25.9 million.
• Skechers reported a net revenue of $2.44 billion for the last quarter, exceeding estimates and marking a 13.1% increase year-over-year.
• Analysts currently hold a consensus rating of "Hold" on Skechers' stock, with an average price target of $66.75.

Todd Asset Management LLC increased its stake in shares of Skechers U.S.A., Inc. (NYSE:SKX - Free Report) by 8.3% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 456,653 shares of the textile maker's stock after acquiring an additional 35,021 shares during the quarter. Todd Asset Management LLC owned about 0.31% of Skechers U.S.A. worth $25,929,000 at the end of the most recent reporting period.

Other institutional investors have also recently bought and sold shares of the company. Victory Capital Management Inc. boosted its stake in shares of Skechers U.S.A. by 15,774.3% in the 1st quarter. Victory Capital Management Inc. now owns 3,949,844 shares of the textile maker's stock valued at $224,272,000 after purchasing an additional 3,924,962 shares in the last quarter. Duquesne Family Office LLC acquired a new position in Skechers U.S.A. during the 4th quarter worth about $72,272,000. Two Sigma Investments LP raised its holdings in Skechers U.S.A. by 772.7% during the 4th quarter. Two Sigma Investments LP now owns 1,176,488 shares of the textile maker's stock worth $79,107,000 after purchasing an additional 1,041,677 shares during the last quarter. Anomaly Capital Management LP raised its holdings in 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 purchasing an additional 1,011,815 shares during the last quarter. Finally, Two Sigma Advisers LP raised its holdings in Skechers U.S.A. by 381.0% during the 4th quarter. Two Sigma Advisers LP now owns 1,081,800 shares of the textile maker's stock worth $72,740,000 after purchasing an additional 856,900 shares during the last quarter. Institutional investors and hedge funds own 79.96% of the company's stock.

Analyst Ratings Changes

Several analysts have weighed in on SKX shares. Evercore ISI dropped their price objective on 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. Raymond James Financial cut Skechers U.S.A. from a "moderate buy" rating to a "hold" rating in a report on Monday, May 5th. Wells Fargo & Company boosted their price objective on Skechers U.S.A. from $57.00 to $63.00 and gave the stock an "overweight" rating in a report on Tuesday, May 6th. Wall Street Zen began coverage on Skechers U.S.A. in a research note on Thursday, May 22nd. They issued a "sell" rating for the company. Finally, Monness Crespi & Hardt cut Skechers U.S.A. from a "strong-buy" rating to a "hold" rating in a research note on Wednesday, May 7th. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating and five have given a buy rating to the company's stock. According to MarketBeat.com, the stock presently has an average rating of "Hold" and an average price target of $66.75.

Skechers U.S.A. Stock Up 0.2%

Shares of SKX traded up $0.12 during midday trading on Wednesday, hitting $63.02. 3,586,575 shares of the company's stock traded hands, compared to its average volume of 2,559,585. Skechers U.S.A., Inc. has a 1 year low of $44.50 and a 1 year high of $78.85. The firm's fifty day moving average is $62.93 and its 200-day moving average is $60.34. The company has a current ratio of 2.09, a quick ratio of 1.28 and a debt-to-equity ratio of 0.02. The stock has a market capitalization of $9.43 billion, a price-to-earnings ratio of 14.39 and a beta of 1.16.

Skechers U.S.A. (NYSE:SKX - Get Free Report) last released its quarterly earnings data on Friday, August 8th. The textile maker reported $1.13 earnings per share for the quarter, beating analysts' consensus estimates 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 quarter last year, the business posted $0.91 EPS. The company's revenue was up 13.1% on a year-over-year basis. As a group, sell-side analysts anticipate that Skechers U.S.A., Inc. will post 4.47 earnings per share for the current year.

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.