Wellington Management Group LLP Purchases 287,939 Shares of Skechers U.S.A., Inc. (NYSE:SKX)

Wellington Management Group LLP increased its stake in shares of Skechers U.S.A., Inc. (NYSE:SKX - Free Report) by 39.0% in the 3rd quarter, according to its most recent 13F filing with the SEC. The firm owned 1,025,556 shares of the textile maker's stock after buying an additional 287,939 shares during the period. Wellington Management Group LLP owned 0.68% of Skechers U.S.A. worth $68,630,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also bought and sold shares of SKX. Stifel Financial Corp boosted its holdings in shares of Skechers U.S.A. by 120.7% during the third quarter. Stifel Financial Corp now owns 72,808 shares of the textile maker's stock worth $4,872,000 after acquiring an additional 39,819 shares during the period. SageView Advisory Group LLC lifted its holdings in Skechers U.S.A. by 58.0% during the 3rd quarter. SageView Advisory Group LLC now owns 8,272 shares of the textile maker's stock worth $554,000 after purchasing an additional 3,035 shares during the last quarter. Quantinno Capital Management LP boosted its stake in Skechers U.S.A. by 42.1% in the 3rd quarter. Quantinno Capital Management LP now owns 86,920 shares of the textile maker's stock valued at $5,817,000 after purchasing an additional 25,741 shares during the period. Cinctive Capital Management LP acquired a new position in Skechers U.S.A. in the 3rd quarter valued at $326,000. Finally, Point72 Asia Singapore Pte. Ltd. grew its holdings in Skechers U.S.A. by 8.0% in the 3rd quarter. Point72 Asia Singapore Pte. Ltd. now owns 7,355 shares of the textile maker's stock valued at $492,000 after buying an additional 545 shares in the last quarter. Institutional investors and hedge funds own 79.96% of the company's stock.

Wall Street Analyst Weigh In

SKX has been the subject of a number of recent research reports. Piper Sandler initiated coverage on shares of Skechers U.S.A. in a research report on Tuesday. They issued a "neutral" rating and a $65.00 target price for the company. StockNews.com downgraded shares of Skechers U.S.A. from a "buy" rating to a "hold" rating in a report on Monday, November 25th. Deutsche Bank Aktiengesellschaft raised their target price on shares of Skechers U.S.A. from $83.00 to $84.00 and gave the stock a "buy" rating in a report on Friday, October 25th. Morgan Stanley boosted their price target on Skechers U.S.A. from $81.00 to $84.00 and gave the company an "overweight" rating in a research note on Friday, October 25th. Finally, Needham & Company LLC assumed coverage on Skechers U.S.A. in a research note on Friday, November 22nd. They set a "hold" rating on the stock. Three research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company's stock. According to data from MarketBeat, Skechers U.S.A. has an average rating of "Moderate Buy" and a consensus target price of $77.00.

Skechers U.S.A. Price Performance

NYSE:SKX traded up $0.60 during trading hours on Wednesday, hitting $70.99. The company's stock had a trading volume of 1,335,239 shares, compared to its average volume of 1,889,199. Skechers U.S.A., Inc. has a twelve month low of $55.67 and a twelve month 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 fifty day simple moving average of $63.81 and a 200-day simple moving average of $66.13. The company has a market capitalization of $10.72 billion, a P/E ratio of 17.48, a PEG ratio of 0.99 and a beta of 1.22.

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 for the quarter, beating analysts' consensus estimates of $1.15 by $0.11. The company had revenue of $2.35 billion for the quarter, compared to the consensus estimate of $2.31 billion. Skechers U.S.A. had a net margin of 7.19% and a return on equity of 13.71%. The firm's quarterly revenue was up 16.0% compared to the same quarter last year. During the same period last year, the company posted $0.93 EPS. On average, analysts anticipate that Skechers U.S.A., Inc. will post 4.25 EPS for the current fiscal year.

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.