Intech Investment Management LLC Has $1.23 Million Stock Position in Skechers U.S.A., Inc. (NYSE:SKX)

Intech Investment Management LLC lessened its holdings in Skechers U.S.A., Inc. (NYSE:SKX - Free Report) by 53.0% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 18,366 shares of the textile maker's stock after selling 20,740 shares during the period. Intech Investment Management LLC's holdings in Skechers U.S.A. were worth $1,229,000 at the end of the most recent quarter.

Several other institutional investors have also recently bought and sold shares of SKX. Commerce Bank lifted its stake in shares of 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 acquiring an additional 423,204 shares during the last quarter. Coronation Fund Managers Ltd. raised its position 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 purchasing an additional 394,618 shares during the last quarter. Acadian Asset Management LLC acquired a new stake in shares of Skechers U.S.A. during the second quarter valued at about $22,425,000. Teachers Retirement System of The State of Kentucky grew its holdings in shares of Skechers U.S.A. by 646.3% during the second quarter. Teachers Retirement System of The State of Kentucky now owns 323,321 shares of the textile maker's stock worth $22,348,000 after purchasing an additional 280,000 shares during the last quarter. Finally, Adams Diversified Equity Fund Inc. acquired a new position in shares of Skechers U.S.A. in the third quarter valued at approximately $16,790,000. Institutional investors and hedge funds own 79.96% of the company's stock.

Skechers U.S.A. Stock Down 0.8 %

Shares of Skechers U.S.A. stock opened at $62.96 on Wednesday. The stock's 50-day moving average is $63.42 and its 200 day moving average is $66.17. Skechers U.S.A., Inc. has a one year low of $55.51 and a one year high of $75.09. The firm has a market cap of $9.51 billion, a price-to-earnings ratio of 15.51, a PEG ratio of 0.88 and a beta of 1.23. The company has a debt-to-equity ratio of 0.01, a current ratio of 1.96 and a quick ratio of 1.25.

Skechers U.S.A. (NYSE:SKX - Get Free Report) last posted its quarterly earnings results on Thursday, October 24th. The textile maker reported $1.26 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.15 by $0.11. The firm had revenue of $2.35 billion for 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 company's revenue for the quarter was up 16.0% compared to the same quarter last year. During the same period in the prior year, the business earned $0.93 EPS. Equities research analysts anticipate that Skechers U.S.A., Inc. will post 4.25 EPS for the current year.

Analysts Set New Price Targets

SKX has been the topic of several recent research reports. Needham & Company LLC initiated coverage on shares of Skechers U.S.A. in a research report on Friday, November 22nd. They set a "hold" rating on the stock. Bank of America cut their price target on shares of Skechers U.S.A. from $81.00 to $80.00 and set a "buy" rating on the stock in a report on Friday, October 25th. Deutsche Bank Aktiengesellschaft increased their price objective on Skechers U.S.A. from $83.00 to $84.00 and gave the company a "buy" rating in a report on Friday, October 25th. StockNews.com downgraded Skechers U.S.A. from a "buy" rating to a "hold" rating in a report on Monday. Finally, TD Cowen decreased their price target on Skechers U.S.A. from $78.00 to $76.00 and set a "buy" rating for the company in a research note on Monday, October 14th. Two analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price 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.