Vontobel Holding Ltd. Boosts Stake in Skechers U.S.A., Inc. (NYSE:SKX)

Vontobel Holding Ltd. lifted its stake in Skechers U.S.A., Inc. (NYSE:SKX - Free Report) by 130.5% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 11,190 shares of the textile maker's stock after purchasing an additional 6,335 shares during the quarter. Vontobel Holding Ltd.'s holdings in Skechers U.S.A. were worth $635,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also recently made changes to their positions in SKX. Verity Asset Management Inc. raised its holdings in Skechers U.S.A. by 3.3% in the 1st quarter. Verity Asset Management Inc. now owns 18,254 shares of the textile maker's stock worth $1,036,000 after acquiring an additional 583 shares during the last quarter. Golden State Wealth Management LLC purchased a new position in Skechers U.S.A. in the 1st quarter worth approximately $35,000. Patron Partners LLC raised its holdings in Skechers U.S.A. by 12.0% in the 1st quarter. Patron Partners LLC now owns 3,903 shares of the textile maker's stock worth $222,000 after acquiring an additional 418 shares during the last quarter. Allspring Global Investments Holdings LLC raised its holdings in Skechers U.S.A. by 49.9% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 90,309 shares of the textile maker's stock worth $5,192,000 after acquiring an additional 30,053 shares during the last quarter. Finally, GHP Investment Advisors Inc. raised its holdings in Skechers U.S.A. by 29.3% in the 1st quarter. GHP Investment Advisors Inc. now owns 26,402 shares of the textile maker's stock worth $1,499,000 after acquiring an additional 5,980 shares during the last quarter. 79.96% of the stock is owned by institutional investors.

Skechers U.S.A. Price Performance

Shares of SKX traded down $0.08 during midday trading on Thursday, hitting $63.13. 1,856,800 shares of the company traded hands, compared to its average volume of 3,554,205. The firm has a 50 day moving average of $61.81 and a 200-day moving average of $61.50. The company has a debt-to-equity ratio of 0.02, a quick ratio of 1.28 and a current ratio of 2.13. The stock has a market cap of $9.44 billion, a price-to-earnings ratio of 15.18 and a beta of 1.12. Skechers U.S.A., Inc. has a 52 week low of $44.50 and a 52 week 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 (EPS) for the quarter, beating the consensus estimate of $1.17 by $0.17. The firm had revenue of $2.41 billion for the quarter, compared to analysts' expectations of $2.43 billion. Skechers U.S.A. had a net margin of 6.96% and a return on equity of 13.34%. The business's revenue was up 7.1% compared to the same quarter last year. During the same period in the prior year, the company earned $1.33 EPS. On average, analysts forecast that Skechers U.S.A., Inc. will post 4.47 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on SKX shares. Wall Street Zen started coverage on shares of Skechers U.S.A. in a research note on Thursday, May 22nd. They set a "sell" rating for the company. Bank of America reduced their price objective on Skechers U.S.A. from $76.00 to $70.00 and set a "buy" rating for the company in a research note on Monday, March 24th. Evercore ISI reduced their price objective on Skechers U.S.A. from $78.00 to $60.00 and set an "outperform" rating for the company in a research note on Thursday, April 17th. Needham & Company LLC restated a "hold" rating on shares of Skechers U.S.A. in a research note on Tuesday, April 22nd. Finally, Stifel Nicolaus reduced their price objective on Skechers U.S.A. from $80.00 to $62.00 and set a "buy" rating for the company in a research note on Thursday, April 10th. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of "Hold" and a consensus price target 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.