Vaughan Nelson Investment Management L.P. Sells 454,450 Shares of Skechers U.S.A., Inc. (NYSE:SKX)

Vaughan Nelson Investment Management L.P. lowered its stake in Skechers U.S.A., Inc. (NYSE:SKX - Free Report) by 72.9% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 169,295 shares of the textile maker's stock after selling 454,450 shares during the quarter. Vaughan Nelson Investment Management L.P. owned about 0.11% of Skechers U.S.A. worth $9,612,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. NewEdge Advisors LLC boosted its position in shares of Skechers U.S.A. by 85.2% in 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 during the period. TD Private Client Wealth LLC boosted its position in Skechers U.S.A. by 534.3% during the 4th quarter. TD Private Client Wealth LLC now owns 425 shares of the textile maker's stock worth $29,000 after acquiring an additional 358 shares during the period. Investment Management Corp VA ADV acquired a new stake in Skechers U.S.A. during the 4th quarter worth about $32,000. Parallel Advisors LLC grew its stake in Skechers U.S.A. by 183.0% during the 1st quarter. Parallel Advisors LLC now owns 617 shares of the textile maker's stock valued at $35,000 after acquiring an additional 399 shares in the last quarter. Finally, Byrne Asset Management LLC purchased a new stake in shares of Skechers U.S.A. in the first quarter worth approximately $39,000. 79.96% of the stock is currently owned by institutional investors.

Skechers U.S.A. Stock Performance

Skechers U.S.A. stock traded up $0.05 during trading hours on Monday, reaching $62.52. 6,140,029 shares of the company were exchanged, compared to its average volume of 3,394,211. The company has a current ratio of 1.97, a quick ratio of 1.12 and a debt-to-equity ratio of 0.01. The stock has a 50-day moving average of $56.57 and a 200 day moving average of $62.14. The firm has a market cap of $9.35 billion, a price-to-earnings ratio of 15.07, a PEG ratio of 1.11 and a beta of 1.13. Skechers U.S.A., Inc. has a 12 month low of $44.50 and a 12 month high of $78.85.

Skechers U.S.A. (NYSE:SKX - Get Free Report) last announced its earnings results on Thursday, April 24th. The textile maker reported $1.34 earnings per share for the quarter, beating the consensus estimate of $1.17 by $0.17. The firm had revenue of $2.41 billion during the quarter, compared to the consensus estimate of $2.43 billion. Skechers U.S.A. had a return on equity of 13.73% and a net margin of 7.13%. The firm's revenue for the quarter was up 7.1% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.33 EPS. As a group, research analysts anticipate that Skechers U.S.A., Inc. will post 4.47 earnings per share for the current year.

Analysts Set New Price Targets

A number of research analysts recently commented on SKX shares. UBS Group reaffirmed a "neutral" rating and set a $63.00 price objective (down from $64.00) on shares of Skechers U.S.A. in a research report on Tuesday, May 6th. Wall Street Zen assumed coverage on shares of Skechers U.S.A. in a report on Thursday, May 22nd. They set a "sell" rating on the stock. Monness Crespi & Hardt downgraded shares of Skechers U.S.A. from a "strong-buy" rating to a "hold" rating in a research note on Wednesday, May 7th. Morgan Stanley reissued an "equal weight" rating and set a $63.00 price objective (down previously from $73.00) on shares of Skechers U.S.A. in a research report on Wednesday, May 7th. Finally, Barclays restated an "equal weight" rating and issued a $63.00 target price (up previously from $53.00) on shares of Skechers U.S.A. in a research note on Tuesday, May 6th. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating and six have assigned a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus target price of $67.69.

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.