Vaughan Nelson Investment Management L.P. Sells 549 Shares of Skechers U.S.A., Inc. (NYSE:SKX)

Vaughan Nelson Investment Management L.P. trimmed its holdings in shares of Skechers U.S.A., Inc. (NYSE:SKX) by 0.1% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 370,700 shares of the textile maker’s stock after selling 549 shares during the quarter. Vaughan Nelson Investment Management L.P.’s holdings in Skechers U.S.A. were worth $24,807,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. Coronation Fund Managers Ltd. lifted its stake 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 worth $33,382,000 after buying an additional 394,618 shares during the last quarter. Acadian Asset Management LLC bought a new position in Skechers U.S.A. in the 2nd quarter worth $22,425,000. Teachers Retirement System of The State of Kentucky raised its holdings in Skechers U.S.A. by 646.3% in the 2nd 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 acquiring an additional 280,000 shares during the period. Adams Diversified Equity Fund Inc. bought a new position in Skechers U.S.A. in the 3rd quarter worth $16,790,000. Finally, Bwcp LP bought a new stake in Skechers U.S.A. during the second quarter valued at about $16,324,000. 79.96% of the stock is currently owned by institutional investors.

Skechers U.S.A. Price Performance

Shares of SKX stock opened at $60.70 on Monday. The stock’s fifty day moving average is $64.13 and its 200-day moving average is $66.44. The company has a debt-to-equity ratio of 0.01, a quick ratio of 1.25 and a current ratio of 1.96. The stock has a market capitalization of $9.16 billion, a PE ratio of 14.95, a PEG ratio of 0.84 and a beta of 1.23. Skechers U.S.A., Inc. has a 52 week low of $51.33 and a 52 week high of $75.09.

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

Skechers U.S.A. declared that its board has authorized a stock repurchase plan on Thursday, July 25th that authorizes the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization authorizes the textile maker to buy up to 10.3% of its shares through open market purchases. Shares repurchase plans are usually a sign that the company’s management believes its stock is undervalued.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on SKX shares. Evercore ISI lifted their price objective on Skechers U.S.A. from $68.00 to $72.00 and gave the stock an “outperform” rating in a research note on Friday, July 26th. Morgan Stanley upped their price target on Skechers U.S.A. from $81.00 to $84.00 and gave the stock an “overweight” rating in a report on Friday, October 25th. Wedbush increased their price objective on Skechers U.S.A. from $76.00 to $79.00 and gave the company an “outperform” rating in a research report on Friday, July 26th. Bank of America reduced their price objective 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, 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 research report on Friday, October 25th. Twelve equities research analysts have rated the stock with a buy rating, According to data from MarketBeat, Skechers U.S.A. presently has a consensus rating of “Buy” and a consensus price target of $78.09.

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.