Voya Investment Management LLC Purchases 34,400 Shares of Skechers U.S.A., Inc. $SKX

Key Points

• Voya Investment Management LLC increased its stake in Skechers U.S.A. by 27.2%, owning a total of 160,641 shares worth about $9.12 million after acquiring an additional 34,400 shares.
• Analysts have mixed ratings on Skechers U.S.A., with one issuing a Strong Buy, five a Buy, and nine a Hold, resulting in an average target price of $66.46.
• Skechers U.S.A. reported an earnings per share (EPS) of $1.13 for the last quarter, exceeding analysts' expectations and showing a 13.1% increase in revenue from the previous year.

Voya Investment Management LLC lifted its position in Skechers U.S.A., Inc. (NYSE:SKX - Free Report) by 27.2% during the first quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 160,641 shares of the textile maker's stock after buying an additional 34,400 shares during the period. Voya Investment Management LLC owned approximately 0.11% of Skechers U.S.A. worth $9,121,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently modified their holdings of the company. Victory Capital Management Inc. raised 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 worth $224,272,000 after buying an additional 3,924,962 shares in the last quarter. Fiduciary Management Inc. WI grew its holdings in shares of Skechers U.S.A. by 12.9% during the first quarter. Fiduciary Management Inc. WI now owns 2,833,785 shares of the textile maker's stock valued at $160,902,000 after buying an additional 324,007 shares in the last quarter. Dimensional Fund Advisors LP grew its holdings in shares of Skechers U.S.A. by 26.4% during the first quarter. Dimensional Fund Advisors LP now owns 2,795,753 shares of the textile maker's stock valued at $158,739,000 after buying an additional 583,733 shares in the last quarter. Bank of New York Mellon Corp grew its holdings in shares of Skechers U.S.A. by 7.6% during the first quarter. Bank of New York Mellon Corp now owns 2,482,980 shares of the textile maker's stock valued at $140,984,000 after buying an additional 174,697 shares in the last quarter. Finally, Two Sigma Investments LP grew its holdings in shares of Skechers U.S.A. by 772.7% during the fourth quarter. Two Sigma Investments LP now owns 1,176,488 shares of the textile maker's stock valued at $79,107,000 after buying an additional 1,041,677 shares in the last quarter. Institutional investors own 79.96% of the company's stock.

Skechers U.S.A. Stock Performance

NYSE:SKX remained flat at $63.13 during trading hours on Friday. Skechers U.S.A., Inc. has a 12 month low of $44.50 and a 12 month high of $78.85. The company has a current ratio of 2.09, a quick ratio of 1.29 and a debt-to-equity ratio of 0.02. The firm has a fifty day simple moving average of $63.09 and a 200-day simple moving average of $59.57. The company has a market capitalization of $9.49 billion, a price-to-earnings ratio of 14.41 and a beta of 1.19.

Skechers U.S.A. (NYSE:SKX - Get Free Report) last released its earnings results on Friday, August 8th. The textile maker reported $1.13 earnings per share (EPS) for the quarter, topping the consensus estimate 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 for the quarter, compared to analyst estimates of $2.35 billion. During the same quarter in the prior year, the company posted $0.91 earnings per share. Skechers U.S.A.'s revenue was up 13.1% on a year-over-year basis. As a group, analysts anticipate that Skechers U.S.A., Inc. will post 4.47 EPS for the current year.

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on SKX. Needham & Company LLC reissued a "hold" rating on shares of Skechers U.S.A. in a research report on Wednesday, August 27th. TD Cowen cut Skechers U.S.A. from a "buy" rating to a "hold" rating and set a $63.00 price objective for the company. in a research report on Wednesday, May 28th. Zacks Research raised Skechers U.S.A. from a "hold" rating to a "strong-buy" rating in a report on Tuesday, August 26th. Argus cut Skechers U.S.A. from a "buy" rating to a "hold" rating and set a $63.00 price target for the company. in a report on Tuesday, August 26th. Finally, Wall Street Zen raised Skechers U.S.A. to a "hold" rating in a report on Saturday, August 30th. One analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and nine have issued a Hold rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus target price of $66.46.

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.