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

Vaughan Nelson Investment Management L.P. increased its stake in Skechers U.S.A., Inc. (NYSE:SKX) by 62.6% during the first quarter, according to its most recent Form 13F filing with the SEC. The firm owned 1,232,993 shares of the textile maker’s stock after purchasing an additional 474,524 shares during the period. Vaughan Nelson Investment Management L.P. owned approximately 0.80% of Skechers U.S.A. worth $75,534,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Pacer Advisors Inc. boosted its holdings in shares of Skechers U.S.A. by 6,521.5% in 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 in the last quarter. Norges Bank acquired a new stake in Skechers U.S.A. in the fourth quarter valued at about $75,194,000. AQR Capital Management LLC boosted 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 valued at $64,185,000 after buying an additional 552,452 shares in the last quarter. Bain Capital Public Equity Management II LLC acquired a new position in Skechers U.S.A. during the fourth quarter worth about $25,681,000. Finally, Goldman Sachs Group Inc. lifted its holdings in shares of 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 acquiring an additional 410,379 shares during the last quarter. Institutional investors and hedge funds own 79.96% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on SKX shares. Wells Fargo & Company initiated coverage on shares of Skechers U.S.A. in a report on Wednesday, June 12th. They set an “overweight” rating and a $83.00 price target on the stock. TD Cowen increased their price target on Skechers U.S.A. from $70.00 to $74.00 and gave the company a “buy” rating in a research note on Wednesday, March 6th. Evercore ISI reduced their price objective on Skechers U.S.A. from $73.00 to $68.00 and set an “outperform” rating on the stock in a research report on Wednesday, April 17th. Bank of America upgraded Skechers U.S.A. from a “neutral” rating to a “buy” rating and increased their target price for the company from $71.00 to $87.00 in a research report on Friday, June 7th. Finally, Stifel Nicolaus boosted their price target on Skechers U.S.A. from $74.00 to $81.00 and gave the stock a “buy” rating in a report on Tuesday, May 28th. One investment analyst has rated the stock with a hold rating and thirteen have assigned a buy rating to the company. According to data from MarketBeat, Skechers U.S.A. currently has a consensus rating of “Moderate Buy” and an average price target of $72.00.

Skechers U.S.A. Stock Down 0.5 %

SKX traded down $0.32 during midday trading on Tuesday, hitting $67.21. The company had a trading volume of 77,621 shares, compared to its average volume of 1,705,357. The company has a market capitalization of $10.25 billion, a price-to-earnings ratio of 17.77, a PEG ratio of 0.99 and a beta of 1.25. The stock’s 50 day moving average price is $68.94 and its 200 day moving average price is $63.62. The company has a quick ratio of 1.56, a current ratio of 2.39 and a debt-to-equity ratio of 0.02. Skechers U.S.A., Inc. has a 52 week low of $45.58 and a 52 week high of $75.09.

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

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

In other Skechers U.S.A. news, General Counsel Phillip Paccione sold 423 shares of the company’s stock in a transaction dated Tuesday, June 4th. The shares were sold at an average price of $69.45, for a total value of $29,377.35. Following the completion of the sale, the general counsel now directly owns 35,000 shares of the company’s stock, valued at approximately $2,430,750. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 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.