World Investment Advisors LLC Takes $1.18 Million Position in Skechers U.S.A., Inc. (NYSE:SKX)

World Investment Advisors LLC purchased a new stake in Skechers U.S.A., Inc. (NYSE:SKX - Free Report) in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 17,667 shares of the textile maker's stock, valued at approximately $1,182,000.

A number of other large investors have also made changes to their positions in the company. Pacer Advisors Inc. grew its position in shares of Skechers U.S.A. by 5,780.6% in the 3rd quarter. Pacer Advisors Inc. now owns 2,639,390 shares of the textile maker's stock valued at $176,628,000 after purchasing an additional 2,594,507 shares during the period. Commerce Bank boosted its holdings in shares of Skechers U.S.A. by 949.5% in the third quarter. Commerce Bank now owns 467,774 shares of the textile maker's stock valued at $31,303,000 after buying an additional 423,204 shares during the period. Coronation Fund Managers Ltd. boosted its holdings in shares of 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 buying an additional 394,618 shares during the period. Acadian Asset Management LLC bought a new stake in shares of Skechers U.S.A. during the second quarter worth $22,425,000. Finally, Wellington Management Group LLP raised its holdings in shares of Skechers U.S.A. by 39.0% during the third quarter. Wellington Management Group LLP now owns 1,025,556 shares of the textile maker's stock worth $68,630,000 after acquiring an additional 287,939 shares during the period. Institutional investors own 79.96% of the company's stock.

Skechers U.S.A. Stock Performance

Shares of NYSE SKX traded down $2.12 during mid-day trading on Monday, reaching $68.23. 2,077,253 shares of the company were exchanged, compared to its average volume of 1,885,056. Skechers U.S.A., Inc. has a twelve month low of $55.67 and a twelve month high of $75.09. The stock has a market capitalization of $10.30 billion, a P/E ratio of 17.33, a P/E/G ratio of 0.98 and a beta of 1.22. The company's 50-day simple moving average is $64.10 and its 200-day simple moving average is $66.17. The company has a quick ratio of 1.25, a current ratio of 1.96 and a debt-to-equity ratio of 0.01.

Skechers U.S.A. (NYSE:SKX - Get Free Report) last issued its quarterly earnings data on Thursday, October 24th. The textile maker reported $1.26 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.15 by $0.11. The firm had revenue of $2.35 billion during 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 business's revenue for the quarter was up 16.0% compared to the same quarter last year. During the same period last year, the business posted $0.93 earnings per share. As a group, research analysts predict that Skechers U.S.A., Inc. will post 4.24 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on SKX. Morgan Stanley upped their target price on shares of Skechers U.S.A. from $81.00 to $84.00 and gave the stock an "overweight" rating in a research note on Friday, October 25th. TD Cowen decreased their price objective on Skechers U.S.A. from $78.00 to $76.00 and set a "buy" rating for the company in a report on Monday, October 14th. Deutsche Bank Aktiengesellschaft lifted their target price 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. Bank of America reduced their price target on Skechers U.S.A. from $81.00 to $80.00 and set a "buy" rating for the company in a research report on Friday, October 25th. Finally, Piper Sandler assumed coverage on shares of Skechers U.S.A. in a report on Tuesday, December 10th. They issued a "neutral" rating and a $65.00 price objective on the stock. Three analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company's stock. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $77.00.

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.