Wellington Management Group LLP Increases Position in Skechers U.S.A., Inc. (NYSE:SKX)

Wellington Management Group LLP raised its position in Skechers U.S.A., Inc. (NYSE:SKX - Free Report) by 6.3% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,090,413 shares of the textile maker's stock after purchasing an additional 64,857 shares during the quarter. Wellington Management Group LLP owned 0.73% of Skechers U.S.A. worth $73,319,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in 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 boosted its stake 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 acquiring an additional 78,071 shares in the last quarter. Finally, Dimensional Fund Advisors LP boosted its stake 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 acquiring an additional 357,681 shares in the last quarter. Hedge funds and other institutional investors own 79.96% of the company's stock.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on the stock. Wells Fargo & Company increased their target price on shares of Skechers U.S.A. from $57.00 to $63.00 and gave the stock an "overweight" rating in a research note on Tuesday, May 6th. 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. Bank of America reduced their price objective on shares of Skechers U.S.A. from $76.00 to $70.00 and set a "buy" rating for the company in a research report on Monday, March 24th. TD Cowen downgraded shares of 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. Finally, Raymond James downgraded shares of Skechers U.S.A. from a "moderate buy" rating to a "hold" rating in a research report on Monday, May 5th. One analyst has rated the stock with a sell rating, eight have assigned a hold rating and six have given a buy rating to the company's stock. According to data from MarketBeat, the stock has an average rating of "Hold" and a consensus target price of $67.69.

Skechers U.S.A. Stock Down 0.0%

Shares of SKX traded down $0.03 during midday trading on Monday, reaching $62.01. 4,854,380 shares of the company were exchanged, compared to its average volume of 3,252,459. The stock has a 50-day moving average price of $54.97 and a 200-day moving average price of $62.12. The company has a market cap of $9.28 billion, a price-to-earnings ratio of 14.94, a P/E/G ratio of 1.11 and a beta of 1.06. Skechers U.S.A., Inc. has a 1-year low of $44.50 and a 1-year high of $78.85. The company has a current ratio of 1.97, a quick ratio of 1.12 and a debt-to-equity ratio of 0.01.

Skechers U.S.A. (NYSE:SKX - Get Free Report) last issued 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 return on equity of 13.73% and a net margin of 7.13%. The company had revenue of $2.41 billion for the quarter, compared to analysts' expectations of $2.43 billion. During the same quarter in the previous year, the firm posted $1.33 earnings per share. The firm's quarterly revenue was up 7.1% on a year-over-year basis. Research analysts expect that Skechers U.S.A., Inc. will post 4.47 earnings per share for the current year.

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.