Wealth Enhancement Advisory Services LLC Buys 4,300 Shares of Skechers U.S.A., Inc. (NYSE:SKX)

Wealth Enhancement Advisory Services LLC grew its stake in shares of Skechers U.S.A., Inc. (NYSE:SKX - Free Report) by 115.6% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 8,021 shares of the textile maker's stock after purchasing an additional 4,300 shares during the quarter. Wealth Enhancement Advisory Services LLC's holdings in Skechers U.S.A. were worth $539,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently modified their holdings of SKX. Vanguard Group Inc. increased its holdings in Skechers U.S.A. by 0.7% in the fourth quarter. Vanguard Group Inc. now owns 12,544,233 shares of the textile maker's stock valued at $843,474,000 after buying an additional 82,143 shares during the last quarter. Anomaly Capital Management LP increased its holdings in Skechers U.S.A. by 51.2% in the fourth quarter. Anomaly Capital Management LP now owns 2,989,015 shares of the textile maker's stock valued at $200,981,000 after buying an additional 1,011,815 shares during the last quarter. Bank of New York Mellon Corp increased its holdings in Skechers U.S.A. by 70.4% in the fourth quarter. Bank of New York Mellon Corp now owns 2,308,283 shares of the textile maker's stock valued at $155,209,000 after buying an additional 953,528 shares during the last quarter. Geode Capital Management LLC increased its holdings in Skechers U.S.A. by 3.5% in the fourth quarter. Geode Capital Management LLC now owns 2,294,976 shares of the textile maker's stock valued at $154,361,000 after buying an additional 78,071 shares during the last quarter. Finally, Dimensional Fund Advisors LP increased its holdings in Skechers U.S.A. by 19.3% in the fourth quarter. Dimensional Fund Advisors LP now owns 2,212,020 shares of the textile maker's stock valued at $148,743,000 after buying an additional 357,681 shares during the last quarter. Institutional investors and hedge funds own 79.96% of the company's stock.

Analysts Set New Price Targets

A number of equities analysts have commented on the company. Needham & Company LLC restated a "hold" rating on shares of Skechers U.S.A. in a research note on Tuesday, April 22nd. Wells Fargo & Company boosted their price objective on 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. Raymond James lowered Skechers U.S.A. from a "moderate buy" rating to a "hold" rating in a report on Monday, May 5th. Bank of America decreased their price objective on Skechers U.S.A. from $76.00 to $70.00 and set a "buy" rating for the company in a report on Monday, March 24th. Finally, Evercore ISI decreased their price objective on Skechers U.S.A. from $78.00 to $60.00 and set an "outperform" rating for the company in a report on Thursday, April 17th. One 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.com, the company has a consensus rating of "Hold" and an average target price of $67.69.

Skechers U.S.A. Stock Down 0.3%

NYSE SKX traded down $0.21 on Friday, reaching $62.50. The company had a trading volume of 6,573,844 shares, compared to its average volume of 3,383,187. The firm has a market capitalization of $9.35 billion, a price-to-earnings ratio of 15.06, a price-to-earnings-growth ratio of 1.11 and a beta of 1.13. The company has a debt-to-equity ratio of 0.01, a quick ratio of 1.12 and a current ratio of 1.97. Skechers U.S.A., Inc. has a 1-year low of $44.50 and a 1-year high of $78.85. The company's fifty day moving average is $56.57 and its 200-day moving average is $62.15.

Skechers U.S.A. (NYSE:SKX - Get Free Report) last posted its quarterly earnings data on Thursday, April 24th. The textile maker reported $1.34 EPS for the quarter, topping analysts' consensus estimates of $1.17 by $0.17. Skechers U.S.A. had a net margin of 7.13% and a return on equity of 13.73%. The company had revenue of $2.41 billion during the quarter, compared to the consensus estimate of $2.43 billion. During the same period in the prior year, the business posted $1.33 EPS. The company's quarterly revenue was up 7.1% on a year-over-year basis. On average, research analysts forecast that Skechers U.S.A., Inc. will post 4.47 earnings per share for the current fiscal year.

Skechers U.S.A. 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.