Skechers U.S.A., Inc. (NYSE:SKX) Stock Holdings Increased by Vontobel Holding Ltd.

Vontobel Holding Ltd. raised its position in Skechers U.S.A., Inc. (NYSE:SKX - Free Report) by 130.5% during the first quarter, according to its most recent filing with the SEC. The institutional investor owned 11,190 shares of the textile maker's stock after purchasing an additional 6,335 shares during the period. Vontobel Holding Ltd.'s holdings in Skechers U.S.A. were worth $635,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in SKX. Raymond James Financial Inc. purchased a new stake in Skechers U.S.A. during the fourth quarter worth about $12,852,000. Hudson Bay Capital Management LP purchased a new position in Skechers U.S.A. in the fourth quarter valued at approximately $5,804,000. Praxis Investment Management Inc. purchased a new position in Skechers U.S.A. in the first quarter valued at approximately $232,000. Schroder Investment Management Group increased its stake in Skechers U.S.A. by 11.3% in the fourth quarter. Schroder Investment Management Group now owns 177,343 shares of the textile maker's stock valued at $12,010,000 after purchasing an additional 18,024 shares during the last quarter. Finally, Jefferies Financial Group Inc. purchased a new position in shares of Skechers U.S.A. in the 4th quarter valued at $1,110,000. Hedge funds and other institutional investors own 79.96% of the company's stock.

Analyst Ratings Changes

SKX has been the topic of a number of research reports. Raymond James Financial downgraded Skechers U.S.A. from a "moderate buy" rating to a "hold" rating in a research note on Monday, May 5th. UBS Group reissued 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. TD Cowen lowered Skechers U.S.A. from a "buy" rating to a "hold" rating and set a $63.00 price target on the stock. in a report on Wednesday, May 28th. Morgan Stanley reiterated an "equal weight" rating and issued a $63.00 target price (down from $73.00) on shares of Skechers U.S.A. in a research note on Wednesday, May 7th. Finally, Wells Fargo & Company lifted their price objective on shares of Skechers U.S.A. from $57.00 to $63.00 and gave the company 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 issued a hold rating and six have given a buy rating to the company's stock. According to MarketBeat, Skechers U.S.A. currently has a consensus rating of "Hold" and a consensus price target of $67.69.

Skechers U.S.A. Trading Down 0.2%

NYSE:SKX traded down $0.15 on Wednesday, reaching $63.16. The stock had a trading volume of 1,089,502 shares, compared to its average volume of 3,543,611. The company has a debt-to-equity ratio of 0.02, a current ratio of 2.13 and a quick ratio of 1.28. The company has a market cap of $9.45 billion, a price-to-earnings ratio of 15.18 and a beta of 1.12. The firm's fifty day moving average is $61.51 and its two-hundred day moving average is $61.49. 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 posted its quarterly earnings results on Thursday, April 24th. The textile maker reported $1.34 EPS for the quarter, beating the consensus estimate of $1.17 by $0.17. Skechers U.S.A. had a net margin of 6.96% and a return on equity of 13.34%. The firm had revenue of $2.41 billion for the quarter, compared to analyst estimates of $2.43 billion. During the same quarter last year, the firm posted $1.33 earnings per share. Skechers U.S.A.'s revenue for the quarter was up 7.1% compared to the same quarter last year. Equities analysts expect that Skechers U.S.A., Inc. will post 4.47 EPS for the current fiscal year.

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.