Vanguard Group Inc. Decreases Stock Holdings in Skechers U.S.A., Inc. (NYSE:SKX)

Vanguard Group Inc. lowered its stake in shares of Skechers U.S.A., Inc. (NYSE:SKX - Free Report) by 0.3% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 12,504,001 shares of the textile maker's stock after selling 40,232 shares during the period. Vanguard Group Inc. owned about 8.37% of Skechers U.S.A. worth $709,977,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently added to or reduced their stakes in SKX. NewEdge Advisors LLC boosted its holdings in Skechers U.S.A. by 85.2% during the fourth quarter. NewEdge Advisors LLC now owns 413 shares of the textile maker's stock worth $28,000 after buying an additional 190 shares in the last quarter. Investment Management Corp VA ADV acquired a new position in Skechers U.S.A. during the fourth quarter worth about $32,000. Parallel Advisors LLC raised its position in Skechers U.S.A. by 183.0% during the first quarter. Parallel Advisors LLC now owns 617 shares of the textile maker's stock worth $35,000 after acquiring an additional 399 shares during the last quarter. Golden State Wealth Management LLC acquired a new position in Skechers U.S.A. during the first quarter worth about $35,000. Finally, Abound Financial LLC acquired a new position in Skechers U.S.A. during the first quarter worth about $35,000. Hedge funds and other institutional investors own 79.96% of the company's stock.

Skechers U.S.A. Trading Up 0.1%

SKX stock traded up $0.04 on Thursday, hitting $63.06. 2,457,849 shares of the company were exchanged, compared to its average volume of 2,548,102. Skechers U.S.A., Inc. has a twelve month low of $44.50 and a twelve month high of $78.85. The company has a debt-to-equity ratio of 0.02, a current ratio of 2.09 and a quick ratio of 1.28. The business's fifty day moving average is $62.95 and its two-hundred day moving average is $60.26. The stock has a market capitalization of $9.43 billion, a price-to-earnings ratio of 14.40 and a beta of 1.16.

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

Analyst Ratings Changes

A number of equities analysts have issued reports on the stock. Raymond James Financial cut shares of Skechers U.S.A. from a "moderate buy" rating to a "hold" rating in a research report on Monday, May 5th. TD Cowen cut 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 research report on Wednesday, May 28th. Needham & Company LLC restated a "hold" rating on shares of Skechers U.S.A. in a research report on Tuesday, April 22nd. Evercore ISI cut their target price on shares of Skechers U.S.A. from $78.00 to $60.00 and set an "outperform" rating for the company in a research report on Thursday, April 17th. Finally, Wells Fargo & Company lifted their target price on shares of Skechers U.S.A. from $57.00 to $63.00 and gave the stock an "overweight" rating in a research report on Tuesday, May 6th. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating and five have issued a buy rating to the company's stock. According to MarketBeat, Skechers U.S.A. has an average rating of "Hold" and an average price target of $66.75.

About Skechers U.S.A.

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.