Anomaly Capital Management LP Sells 142,119 Shares of Skechers U.S.A., Inc. (NYSE:SKX)

Anomaly Capital Management LP decreased its holdings in Skechers U.S.A., Inc. (NYSE:SKX) by 4.7% in the second quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 2,883,838 shares of the textile maker’s stock after selling 142,119 shares during the quarter. Skechers U.S.A. accounts for approximately 7.6% of Anomaly Capital Management LP’s holdings, making the stock its biggest holding. Anomaly Capital Management LP owned 1.89% of Skechers U.S.A. worth $199,331,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Norges Bank bought a new stake in shares of Skechers U.S.A. in the 4th quarter worth about $75,194,000. Vaughan Nelson Investment Management L.P. increased its holdings in Skechers U.S.A. by 62.6% during the 1st quarter. Vaughan Nelson Investment Management L.P. now owns 1,232,993 shares of the textile maker’s stock valued at $75,534,000 after purchasing an additional 474,524 shares in the last quarter. Bain Capital Public Equity Management II LLC bought a new position in Skechers U.S.A. in the 4th quarter valued at $25,681,000. Goldman Sachs Group Inc. boosted its stake in Skechers U.S.A. by 99.2% in the fourth quarter. Goldman Sachs Group Inc. now owns 824,263 shares of the textile maker’s stock worth $51,385,000 after purchasing an additional 410,379 shares in the last quarter. Finally, Coronation Fund Managers Ltd. grew its holdings in shares of Skechers U.S.A. by 195.1% during the second quarter. Coronation Fund Managers Ltd. now owns 492,585 shares of the textile maker’s stock worth $34,047,000 after purchasing an additional 325,653 shares during the last quarter. 79.96% of the stock is owned by institutional investors.

Skechers U.S.A. Trading Up 2.4 %

Shares of NYSE SKX opened at $63.01 on Monday. Skechers U.S.A., Inc. has a twelve month low of $45.58 and a twelve month high of $75.09. The stock has a market cap of $9.60 billion, a price-to-earnings ratio of 16.58, a P/E/G ratio of 0.94 and a beta of 1.23. The company has a quick ratio of 1.33, a current ratio of 2.06 and a debt-to-equity ratio of 0.01. The company’s fifty day moving average is $65.30 and its 200-day moving average is $65.39.

Skechers U.S.A. (NYSE:SKX) last posted its earnings results on Thursday, July 25th. The textile maker reported $0.91 earnings per share for the quarter, missing the consensus estimate of $0.95 by ($0.04). Skechers U.S.A. had a return on equity of 13.04% and a net margin of 6.90%. The business had revenue of $2.16 billion for the quarter, compared to the consensus estimate of $2.24 billion. During the same quarter in the prior year, the firm posted $0.98 earnings per share. The business’s revenue was up 7.3% on a year-over-year basis. Equities research analysts predict that Skechers U.S.A., Inc. will post 4.17 EPS for the current year.

Skechers U.S.A. declared that its board has initiated a share buyback program on Thursday, July 25th that permits the company to buyback $1.00 billion in shares. This buyback authorization permits the textile maker to reacquire up to 10.3% of its stock through open market purchases. Stock buyback programs are generally an indication that the company’s management believes its shares are undervalued.

Analyst Ratings Changes

SKX has been the topic of several research reports. Stifel Nicolaus upped their price target on shares of Skechers U.S.A. from $81.00 to $83.00 and gave the stock a “buy” rating in a research report on Friday, July 26th. Deutsche Bank Aktiengesellschaft restated a “buy” rating and issued a $82.00 price objective on shares of Skechers U.S.A. in a research report on Thursday, June 13th. Morgan Stanley raised Skechers U.S.A. from an “equal weight” rating to an “overweight” rating and upped their price target for the company from $60.00 to $80.00 in a research note on Tuesday, July 23rd. Wedbush increased their price objective on shares of Skechers U.S.A. from $76.00 to $79.00 and gave the company an “outperform” rating in a report on Friday, July 26th. Finally, Evercore ISI upped their target price on shares of Skechers U.S.A. from $68.00 to $72.00 and gave the company an “outperform” rating in a research report on Friday, July 26th. Twelve research analysts have rated the stock with a buy rating, According to data from MarketBeat, Skechers U.S.A. currently has an average rating of “Buy” and an average price target of $78.36.

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.