Skechers U.S.A., Inc. (NYSE:SKX) Shares Purchased by Charles Schwab Investment Management Inc.

Charles Schwab Investment Management Inc. boosted its holdings in Skechers U.S.A., Inc. (NYSE:SKX) by 1.3% in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 1,316,882 shares of the textile maker’s stock after acquiring an additional 17,429 shares during the quarter. Charles Schwab Investment Management Inc.’s holdings in Skechers U.S.A. were worth $88,126,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Pacer Advisors Inc. grew its stake 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 period. Dimensional Fund Advisors LP grew its position in Skechers U.S.A. by 3.0% during the second 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. Coronation Fund Managers Ltd. increased its holdings in 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 valued at $33,382,000 after buying an additional 394,618 shares in the last quarter. Commerce Bank increased its stake in Skechers U.S.A. by 949.5% in the 3rd quarter. Commerce Bank now owns 467,774 shares of the textile maker’s stock valued at $31,303,000 after purchasing an additional 423,204 shares in the last quarter. Finally, American Century Companies Inc. raised its holdings in Skechers U.S.A. by 38.6% during the second quarter. American Century Companies Inc. now owns 330,769 shares of the textile maker’s stock worth $22,863,000 after purchasing an additional 92,093 shares during the last quarter. Institutional investors and hedge funds own 79.96% of the company’s stock.

Skechers U.S.A. Price Performance

Shares of NYSE:SKX opened at $63.73 on Thursday. The company has a market cap of $9.62 billion, a P/E ratio of 15.70, a P/E/G ratio of 0.88 and a beta of 1.23. The business has a fifty day simple moving average of $63.33 and a 200-day simple moving average of $66.15. 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 quick ratio of 1.25, a current ratio of 1.96 and a debt-to-equity ratio of 0.01.

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

Wall Street Analyst Weigh In

SKX has been the subject of a number of research analyst reports. Barclays raised their price target on Skechers U.S.A. from $79.00 to $80.00 and gave the company an “overweight” rating in a research report on Friday, October 25th. Needham & Company LLC assumed coverage on shares of Skechers U.S.A. in a report on Friday, November 22nd. They set a “hold” rating for the company. Morgan Stanley lifted their target price on shares of 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 increased their price target on shares of Skechers U.S.A. from $83.00 to $84.00 and gave the company a “buy” rating in a research report on Friday, October 25th. Finally, TD Cowen cut their price objective on 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. Two investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $78.09.

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.