Bridgewater Associates LP Purchases 1,188 Shares of Skechers U.S.A., Inc. (NYSE:SKX)

Bridgewater Associates LP boosted its position in shares of Skechers U.S.A., Inc. (NYSE:SKX) by 39.9% in the third quarter, Holdings Channel reports. The fund owned 4,166 shares of the textile maker’s stock after acquiring an additional 1,188 shares during the period. Bridgewater Associates LP’s holdings in Skechers U.S.A. were worth $279,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds also recently bought and sold shares of the company. Pacer Advisors Inc. lifted its position in shares of Skechers U.S.A. by 5,780.6% during the 3rd quarter. Pacer Advisors Inc. now owns 2,639,390 shares of the textile maker’s stock worth $176,628,000 after purchasing an additional 2,594,507 shares during the last quarter. Dimensional Fund Advisors LP increased its position in Skechers U.S.A. by 3.0% in the 2nd quarter. Dimensional Fund Advisors LP now owns 1,885,723 shares of the textile maker’s stock worth $130,350,000 after buying an additional 55,095 shares during the period. Charles Schwab Investment Management Inc. lifted its holdings in shares of Skechers U.S.A. by 1.3% during the third quarter. Charles Schwab Investment Management Inc. now owns 1,316,882 shares of the textile maker’s stock worth $88,126,000 after buying an additional 17,429 shares during the last quarter. Loomis Sayles & Co. L P boosted its position in shares of Skechers U.S.A. by 7.1% in the third quarter. Loomis Sayles & Co. L P now owns 752,067 shares of the textile maker’s stock valued at $50,328,000 after acquiring an additional 49,734 shares during the period. Finally, Coronation Fund Managers Ltd. grew its stake in shares of Skechers U.S.A. by 378.6% in the third quarter. Coronation Fund Managers Ltd. now owns 498,837 shares of the textile maker’s stock worth $33,382,000 after acquiring an additional 394,618 shares during the last quarter. 79.96% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on the stock. Barclays upped their target price on shares of Skechers U.S.A. from $79.00 to $80.00 and gave the company an “overweight” rating in a research note on Friday, October 25th. TD Cowen cut their price objective on shares of Skechers U.S.A. from $78.00 to $76.00 and set a “buy” rating for the company in a research report on Monday, October 14th. Morgan Stanley lifted their target price on Skechers U.S.A. from $81.00 to $84.00 and gave the stock an “overweight” rating in a research report on Friday, October 25th. Deutsche Bank Aktiengesellschaft upped their price target on Skechers U.S.A. from $83.00 to $84.00 and gave the company a “buy” rating in a report on Friday, October 25th. Finally, StockNews.com lowered Skechers U.S.A. from a “buy” rating to a “hold” rating in a report on Monday, November 25th. Two analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. According to MarketBeat, Skechers U.S.A. has an average rating of “Moderate Buy” and an average target price of $78.09.

Skechers U.S.A. Stock Performance

Skechers U.S.A. stock opened at $69.17 on Wednesday. Skechers U.S.A., Inc. has a 52-week low of $55.67 and a 52-week high of $75.09. The company has a debt-to-equity ratio of 0.01, a current ratio of 1.96 and a quick ratio of 1.25. The stock has a fifty day moving average price of $63.53 and a two-hundred day moving average price of $66.05. The firm has a market capitalization of $10.44 billion, a P/E ratio of 17.04, a P/E/G ratio of 0.91 and a beta of 1.22.

Skechers U.S.A. (NYSE:SKX) last announced its quarterly earnings results on Thursday, October 24th. The textile maker reported $1.26 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.15 by $0.11. The firm had revenue of $2.35 billion during the quarter, compared to the consensus estimate of $2.31 billion. Skechers U.S.A. had a net margin of 7.19% and a return on equity of 13.71%. The firm’s quarterly revenue was up 16.0% on a year-over-year basis. During the same period last year, the firm posted $0.93 EPS. As a group, analysts anticipate that Skechers U.S.A., Inc. will post 4.25 EPS 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.