Massachusetts Financial Services Co. MA Lowers Holdings in Skechers U.S.A., Inc. (NYSE:SKX)

Massachusetts Financial Services Co. MA trimmed its position in shares of Skechers U.S.A., Inc. (NYSE:SKX) by 0.5% during the 3rd quarter, according to its most recent 13F filing with the SEC. The fund owned 4,363,390 shares of the textile maker’s stock after selling 22,674 shares during the quarter. Massachusetts Financial Services Co. MA’s holdings in Skechers U.S.A. were worth $291,998,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of SKX. Bessemer Group Inc. grew its holdings in shares of Skechers U.S.A. by 66.7% during the first quarter. Bessemer Group Inc. now owns 410 shares of the textile maker’s stock valued at $25,000 after buying an additional 164 shares during the last quarter. UMB Bank n.a. lifted its position in Skechers U.S.A. by 423.3% in the 3rd quarter. UMB Bank n.a. now owns 450 shares of the textile maker’s stock valued at $30,000 after acquiring an additional 364 shares in the last quarter. Versant Capital Management Inc increased its holdings in shares of Skechers U.S.A. by 2,809.1% in the 2nd quarter. Versant Capital Management Inc now owns 640 shares of the textile maker’s stock worth $44,000 after purchasing an additional 618 shares in the last quarter. Venturi Wealth Management LLC raised its stake in shares of Skechers U.S.A. by 52.9% in the third quarter. Venturi Wealth Management LLC now owns 864 shares of the textile maker’s stock worth $58,000 after purchasing an additional 299 shares during the last quarter. Finally, 1620 Investment Advisors Inc. bought a new position in shares of Skechers U.S.A. during the second quarter valued at $69,000. 79.96% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

SKX has been the subject of several research analyst reports. 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 report on Friday, July 26th. Deutsche Bank Aktiengesellschaft lifted their price target on shares of Skechers U.S.A. from $83.00 to $84.00 and gave the stock a “buy” rating in a research note on Friday, October 25th. Barclays increased their price objective on shares of Skechers U.S.A. from $79.00 to $80.00 and gave the company an “overweight” rating in a research report on Friday, October 25th. Needham & Company LLC started coverage on shares of Skechers U.S.A. in a research report on Friday. They issued a “hold” rating for the company. Finally, Stifel Nicolaus increased their price target on Skechers U.S.A. from $81.00 to $83.00 and gave the company a “buy” rating in a report on Friday, July 26th. One analyst has rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $78.09.

Skechers U.S.A. Trading Up 1.1 %

NYSE:SKX opened at $61.69 on Friday. Skechers U.S.A., Inc. has a one year low of $54.95 and a one year high of $75.09. The business has a fifty day moving average price of $63.61 and a 200-day moving average price of $66.24. The firm has a market capitalization of $9.31 billion, a price-to-earnings ratio of 15.19, a price-to-earnings-growth ratio of 0.85 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) last issued its quarterly earnings results on Thursday, October 24th. The textile maker reported $1.26 EPS for the quarter, topping analysts’ consensus estimates 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 business had revenue of $2.35 billion during the quarter, compared to analysts’ expectations of $2.31 billion. During the same quarter in the prior year, the business posted $0.93 earnings per share. The business’s quarterly revenue was up 16.0% on a year-over-year basis. Sell-side analysts forecast that Skechers U.S.A., Inc. will post 4.25 EPS for the current 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.