Fmr LLC Has $1.33 Billion Position in Skechers U.S.A., Inc. (NYSE:SKX)

FMR LLC raised its stake in shares of Skechers U.S.A., Inc. (NYSE:SKX - Free Report) by 0.1% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 19,881,372 shares of the textile maker's stock after buying an additional 22,085 shares during the period. FMR LLC owned approximately 13.17% of Skechers U.S.A. worth $1,330,461,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Bessemer Group Inc. increased its stake in shares of Skechers U.S.A. by 66.7% during the first quarter. Bessemer Group Inc. now owns 410 shares of the textile maker's stock valued at $25,000 after acquiring an additional 164 shares during the period. UMB Bank n.a. raised its stake in shares of Skechers U.S.A. by 423.3% in the 3rd quarter. UMB Bank n.a. now owns 450 shares of the textile maker's stock worth $30,000 after buying an additional 364 shares in the last quarter. Versant Capital Management Inc lifted its holdings in shares of Skechers U.S.A. by 2,809.1% in the second quarter. Versant Capital Management Inc now owns 640 shares of the textile maker's stock valued at $44,000 after buying an additional 618 shares during the period. Venturi Wealth Management LLC grew its holdings in Skechers U.S.A. by 52.9% during the third quarter. Venturi Wealth Management LLC now owns 864 shares of the textile maker's stock worth $58,000 after acquiring an additional 299 shares during the period. Finally, Blue Trust Inc. grew its holdings in Skechers U.S.A. by 778.1% during the third quarter. Blue Trust Inc. now owns 1,001 shares of the textile maker's stock worth $69,000 after acquiring an additional 887 shares during the period. 79.96% of the stock is currently owned by institutional investors.

Skechers U.S.A. Trading Up 1.0 %

Shares of Skechers U.S.A. stock traded up $0.66 on Wednesday, hitting $63.62. 276,215 shares of the company's stock traded hands, compared to its average volume of 1,871,962. Skechers U.S.A., Inc. has a one year low of $55.67 and a one year 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 market capitalization of $9.60 billion, a PE ratio of 15.51, a price-to-earnings-growth ratio of 0.88 and a beta of 1.23. The firm's 50-day moving average price is $63.42 and its two-hundred day moving average price is $66.17.

Skechers U.S.A. (NYSE:SKX - Get Free Report) last posted its earnings results on Thursday, October 24th. The textile maker reported $1.26 earnings per share for the quarter, topping the consensus estimate of $1.15 by $0.11. Skechers U.S.A. had a net margin of 7.19% and a return on equity of 13.71%. The company had revenue of $2.35 billion for the quarter, compared to analyst estimates of $2.31 billion. During the same period last year, the business posted $0.93 earnings per share. The business's revenue for the quarter was up 16.0% compared to the same quarter last year. On average, research analysts expect that Skechers U.S.A., Inc. will post 4.25 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on SKX shares. Barclays lifted their price objective on shares of Skechers U.S.A. from $79.00 to $80.00 and gave the stock an "overweight" rating in a research note on Friday, October 25th. StockNews.com lowered Skechers U.S.A. from a "buy" rating to a "hold" rating in a research note on Monday. Morgan Stanley boosted 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 increased their price target on 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, Bank of America decreased their target price on shares of Skechers U.S.A. from $81.00 to $80.00 and set a "buy" rating for the company in a report on Friday, October 25th. Two research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. According to data from MarketBeat, Skechers U.S.A. presently has a consensus rating of "Moderate Buy" and an average price target of $78.09.

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.