Vontobel Holding Ltd. Acquires 6,335 Shares of Skechers U.S.A., Inc. (NYSE:SKX)

Vontobel Holding Ltd. grew its holdings in shares of Skechers U.S.A., Inc. (NYSE:SKX) by 130.5% in the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 11,190 shares of the textile maker’s stock after acquiring an additional 6,335 shares during the period. Vontobel Holding Ltd.’s holdings in Skechers U.S.A. were worth $635,000 as of its most recent SEC filing.

Other large investors have also recently modified their holdings of the company. NewEdge Advisors LLC raised its stake in Skechers U.S.A. by 85.2% during the fourth quarter. NewEdge Advisors LLC now owns 413 shares of the textile maker’s stock worth $28,000 after buying an additional 190 shares during the last quarter. TD Private Client Wealth LLC raised its stake in Skechers U.S.A. by 534.3% during the fourth quarter. TD Private Client Wealth LLC now owns 425 shares of the textile maker’s stock worth $29,000 after buying an additional 358 shares during the last quarter. Investment Management Corp VA ADV bought a new position in Skechers U.S.A. during the fourth quarter worth $32,000. Parallel Advisors LLC raised its stake in Skechers U.S.A. by 183.0% during the first quarter. Parallel Advisors LLC now owns 617 shares of the textile maker’s stock worth $35,000 after buying an additional 399 shares during the last quarter. Finally, Golden State Wealth Management LLC bought a new position in Skechers U.S.A. during the first quarter worth $35,000. Institutional investors own 79.96% of the company’s stock.

Skechers U.S.A. Stock Up 0.0%

Skechers U.S.A. stock opened at $63.27 on Monday. Skechers U.S.A., Inc. has a fifty-two week low of $44.50 and a fifty-two week high of $78.85. The stock has a market cap of $9.47 billion, a PE ratio of 15.21 and a beta of 1.12. The firm’s 50-day simple moving average is $60.91 and its 200 day simple moving average is $61.51. The company has a debt-to-equity ratio of 0.02, a quick ratio of 1.28 and a current ratio of 2.13.

Skechers U.S.A. (NYSE:SKX) last released its quarterly earnings results on Thursday, April 24th. The textile maker reported $1.34 earnings per share for the quarter, topping the consensus estimate of $1.17 by $0.17. Skechers U.S.A. had a net margin of 6.96% and a return on equity of 13.34%. The business had revenue of $2.41 billion for the quarter, compared to analysts’ expectations of $2.43 billion. During the same period in the previous year, the company earned $1.33 earnings per share. The firm’s revenue for the quarter was up 7.1% compared to the same quarter last year. Research analysts predict that Skechers U.S.A., Inc. will post 4.47 EPS for the current fiscal year.

Analysts Set New Price Targets

SKX has been the subject of a number of analyst reports. Monness Crespi & Hardt downgraded shares of Skechers U.S.A. from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, May 7th. Wells Fargo & Company upped their price objective on shares of Skechers U.S.A. from $57.00 to $63.00 and gave the company an “overweight” rating in a report on Tuesday, May 6th. Barclays restated an “equal weight” rating and issued a $63.00 target price (up from $53.00) on shares of Skechers U.S.A. in a research note on Tuesday, May 6th. Stifel Nicolaus decreased their target price on Skechers U.S.A. from $80.00 to $62.00 and set a “buy” rating for the company in a research report on Thursday, April 10th. Finally, TD Cowen lowered Skechers U.S.A. from a “buy” rating to a “hold” rating and set a $63.00 target price for the company. in a research report on Wednesday, May 28th. One analyst has rated the stock with a sell rating, eight have given a hold rating and six have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $67.69.

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.