Vaughan Nelson Investment Management L.P. Has $9.61 Million Holdings in Skechers U.S.A., Inc. (NYSE:SKX)

Vaughan Nelson Investment Management L.P. cut its stake in shares of Skechers U.S.A., Inc. (NYSE:SKX) by 72.9% in the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 169,295 shares of the textile maker’s stock after selling 454,450 shares during the period. Vaughan Nelson Investment Management L.P. owned about 0.11% of Skechers U.S.A. worth $9,612,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of the stock. Raymond James Financial Inc. acquired a new stake in Skechers U.S.A. in the fourth quarter valued at $12,852,000. Hudson Bay Capital Management LP acquired a new stake in Skechers U.S.A. in the fourth quarter valued at $5,804,000. Schroder Investment Management Group increased its holdings in Skechers U.S.A. by 11.3% in the fourth quarter. Schroder Investment Management Group now owns 177,343 shares of the textile maker’s stock valued at $12,010,000 after purchasing an additional 18,024 shares during the period. Jefferies Financial Group Inc. acquired a new stake in Skechers U.S.A. in the fourth quarter valued at $1,110,000. Finally, Frontier Capital Management Co. LLC acquired a new stake in Skechers U.S.A. in the fourth quarter valued at $17,589,000. 79.96% of the stock is currently owned by institutional investors and hedge funds.

Skechers U.S.A. Price Performance

SKX stock opened at $62.50 on Monday. The stock has a market capitalization of $9.35 billion, a PE ratio of 15.06, a price-to-earnings-growth ratio of 1.11 and a beta of 1.13. The company’s 50-day moving average is $56.57 and its 200-day moving average is $62.14. The company has a debt-to-equity ratio of 0.01, a current ratio of 1.97 and a quick ratio of 1.12. Skechers U.S.A., Inc. has a 1 year low of $44.50 and a 1 year high of $78.85.

Skechers U.S.A. (NYSE:SKX) last released its quarterly earnings data on Thursday, April 24th. The textile maker reported $1.34 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.17 by $0.17. Skechers U.S.A. had a net margin of 7.13% and a return on equity of 13.73%. The company had revenue of $2.41 billion for the quarter, compared to analysts’ expectations of $2.43 billion. During the same quarter in the prior year, the firm earned $1.33 EPS. The business’s revenue was up 7.1% on a year-over-year basis. Equities research analysts expect that Skechers U.S.A., Inc. will post 4.47 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of analysts recently weighed in on SKX shares. Bank of America decreased their price objective on Skechers U.S.A. from $76.00 to $70.00 and set a “buy” rating for the company in a report on Monday, March 24th. Stifel Nicolaus decreased their price objective on Skechers U.S.A. from $80.00 to $62.00 and set a “buy” rating for the company in a report on Thursday, April 10th. Monness Crespi & Hardt downgraded Skechers U.S.A. from a “strong-buy” rating to a “hold” rating in a report on Wednesday, May 7th. Barclays reiterated an “equal weight” rating and set a $63.00 price target (up from $53.00) on shares of Skechers U.S.A. in a report on Tuesday, May 6th. Finally, Morgan Stanley reiterated an “equal weight” rating and set a $63.00 price target (down from $73.00) on shares of Skechers U.S.A. in a report on Wednesday, May 7th. One analyst has rated the stock with a sell rating, eight have given a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $67.69.

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.