Skechers U.S.A., Inc. (NYSE:SKX) Shares Acquired by Vanguard Personalized Indexing Management LLC

Vanguard Personalized Indexing Management LLC boosted its position in Skechers U.S.A., Inc. (NYSE:SKX) by 7.2% during the second quarter, HoldingsChannel.com reports. The institutional investor owned 10,150 shares of the textile maker’s stock after acquiring an additional 680 shares during the quarter. Vanguard Personalized Indexing Management LLC’s holdings in Skechers U.S.A. were worth $702,000 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. Bessemer Group Inc. lifted its stake in shares of Skechers U.S.A. by 66.7% in the first quarter. Bessemer Group Inc. now owns 410 shares of the textile maker’s stock worth $25,000 after acquiring an additional 164 shares in the last quarter. CIBC Asset Management Inc boosted its stake in shares of Skechers U.S.A. by 4.7% during the 2nd quarter. CIBC Asset Management Inc now owns 3,820 shares of the textile maker’s stock valued at $264,000 after buying an additional 173 shares during the last quarter. QRG Capital Management Inc. grew its position in shares of Skechers U.S.A. by 2.0% during the first quarter. QRG Capital Management Inc. now owns 10,047 shares of the textile maker’s stock worth $615,000 after buying an additional 194 shares in the last quarter. X Square Capital LLC increased its stake in shares of Skechers U.S.A. by 0.5% in the second quarter. X Square Capital LLC now owns 40,903 shares of the textile maker’s stock worth $2,827,000 after buying an additional 215 shares during the last quarter. Finally, Pallas Capital Advisors LLC raised its holdings in Skechers U.S.A. by 5.7% in the second quarter. Pallas Capital Advisors LLC now owns 6,027 shares of the textile maker’s stock valued at $388,000 after acquiring an additional 324 shares in the last quarter. 79.96% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

SKX has been the subject of several recent analyst reports. Barclays raised their price objective on shares of Skechers U.S.A. from $78.00 to $79.00 and gave the stock an “overweight” rating in a report on Friday, July 26th. Wells Fargo & Company assumed coverage on 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. Bank of America decreased their target price on Skechers U.S.A. from $87.00 to $81.00 and set a “buy” rating for the company in a research report on Monday. Morgan Stanley raised Skechers U.S.A. from an “equal weight” rating to an “overweight” rating and upped their price target for the company from $60.00 to $80.00 in a research report on Tuesday, July 23rd. Finally, Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating and issued a $82.00 price objective on shares of Skechers U.S.A. in a report on Thursday, June 13th. Twelve research analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock has an average rating of “Buy” and a consensus target price of $77.82.

Skechers U.S.A. Price Performance

NYSE SKX opened at $65.46 on Thursday. The company has a 50-day moving average price of $65.20 and a two-hundred day moving average price of $65.44. Skechers U.S.A., Inc. has a 52 week low of $45.58 and a 52 week high of $75.09. The stock has a market cap of $9.97 billion, a price-to-earnings ratio of 17.23, a price-to-earnings-growth ratio of 0.88 and a beta of 1.23. The company has a current ratio of 2.06, a quick ratio of 1.33 and a debt-to-equity ratio of 0.01.

Skechers U.S.A. (NYSE:SKX) last issued its quarterly earnings data on Thursday, July 25th. The textile maker reported $0.91 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.95 by ($0.04). The business had revenue of $2.16 billion during the quarter, compared to the consensus estimate of $2.24 billion. Skechers U.S.A. had a return on equity of 13.04% and a net margin of 6.90%. The business’s quarterly revenue was up 7.3% compared to the same quarter last year. During the same period last year, the company earned $0.98 earnings per share. Analysts forecast that Skechers U.S.A., Inc. will post 4.16 EPS for the current year.

Skechers U.S.A. declared that its Board of Directors has initiated a share buyback plan on Thursday, July 25th that authorizes the company to repurchase $1.00 billion in shares. This repurchase authorization authorizes the textile maker to reacquire up to 10.3% of its stock through open market purchases. Stock repurchase plans are often a sign that the company’s leadership believes its stock is undervalued.

About Skechers U.S.A.

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.