Vaughan Nelson Investment Management L.P. Acquires 474,524 Shares of Skechers U.S.A., Inc. (NYSE:SKX)

Vaughan Nelson Investment Management L.P. lifted its holdings in shares of Skechers U.S.A., Inc. (NYSE:SKX) by 62.6% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,232,993 shares of the textile maker’s stock after acquiring an additional 474,524 shares during the quarter. Vaughan Nelson Investment Management L.P.’s holdings in Skechers U.S.A. were worth $75,534,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Pacer Advisors Inc. increased its position in Skechers U.S.A. by 6,521.5% during the 4th quarter. Pacer Advisors Inc. now owns 1,456,599 shares of the textile maker’s stock valued at $90,804,000 after purchasing an additional 1,434,601 shares during the period. Norges Bank purchased a new position in shares of Skechers U.S.A. during the fourth quarter valued at about $75,194,000. AQR Capital Management LLC raised its stake in Skechers U.S.A. by 72.8% in the third quarter. AQR Capital Management LLC now owns 1,311,246 shares of the textile maker’s stock worth $64,185,000 after buying an additional 552,452 shares in the last quarter. Bain Capital Public Equity Management II LLC purchased a new stake in Skechers U.S.A. in the fourth quarter worth about $25,681,000. Finally, Goldman Sachs Group Inc. lifted its holdings in Skechers U.S.A. by 99.2% in the fourth quarter. Goldman Sachs Group Inc. now owns 824,263 shares of the textile maker’s stock worth $51,385,000 after buying an additional 410,379 shares during the period. Hedge funds and other institutional investors own 79.96% of the company’s stock.

Skechers U.S.A. Stock Performance

Skechers U.S.A. stock traded down $0.32 during midday trading on Tuesday, hitting $67.21. The stock had a trading volume of 77,621 shares, compared to its average volume of 1,705,357. Skechers U.S.A., Inc. has a 52-week low of $45.58 and a 52-week high of $75.09. The company has a market capitalization of $10.25 billion, a PE ratio of 17.77, a P/E/G ratio of 0.99 and a beta of 1.25. The firm’s fifty day moving average is $68.94 and its two-hundred day moving average is $63.62. The company has a current ratio of 2.39, a quick ratio of 1.56 and a debt-to-equity ratio of 0.02.

Skechers U.S.A. (NYSE:SKX) last announced its quarterly earnings data on Thursday, April 25th. The textile maker reported $1.33 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.10 by $0.23. Skechers U.S.A. had a net margin of 7.17% and a return on equity of 13.56%. The firm had revenue of $2.25 billion during the quarter, compared to analysts’ expectations of $2.20 billion. During the same period in the prior year, the company posted $1.02 earnings per share. The company’s revenue for the quarter was up 12.5% compared to the same quarter last year. On average, research analysts forecast that Skechers U.S.A., Inc. will post 4.08 EPS for the current year.

Analyst Ratings Changes

SKX has been the subject of several research reports. Deutsche Bank Aktiengesellschaft reissued a “buy” rating and issued a $82.00 target price on shares of Skechers U.S.A. in a research report on Thursday, June 13th. TD Cowen raised their price objective on Skechers U.S.A. from $70.00 to $74.00 and gave the company a “buy” rating in a research report on Wednesday, March 6th. Wedbush restated an “outperform” rating and set a $76.00 target price on shares of Skechers U.S.A. in a report on Friday, May 17th. Barclays assumed coverage on shares of Skechers U.S.A. in a research note on Monday, April 1st. They issued an “overweight” rating and a $71.00 price target for the company. Finally, Wells Fargo & Company started coverage on shares of Skechers U.S.A. in a research note on Wednesday, June 12th. They set an “overweight” rating and a $83.00 price objective on the stock. One analyst has rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $72.00.

Insider Buying and Selling at Skechers U.S.A.

In related news, General Counsel Phillip Paccione sold 423 shares of the company’s stock in a transaction on Tuesday, June 4th. The shares were sold at an average price of $69.45, for a total transaction of $29,377.35. Following the completion of the transaction, the general counsel now owns 35,000 shares in the company, valued at $2,430,750. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders own 24.75% of the company’s stock.

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.