Commerce Bank Sells 12,795 Shares of Skechers U.S.A., Inc. (NYSE:SKX)

Commerce Bank reduced its holdings in shares of Skechers U.S.A., Inc. (NYSE:SKX) by 19.6% in the 4th quarter, HoldingsChannel.com reports. The fund owned 52,470 shares of the textile maker’s stock after selling 12,795 shares during the quarter. Commerce Bank’s holdings in Skechers U.S.A. were worth $3,271,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Huntington National Bank lifted its holdings in Skechers U.S.A. by 861.7% during the 3rd quarter. Huntington National Bank now owns 577 shares of the textile maker’s stock worth $28,000 after purchasing an additional 517 shares during the last quarter. DekaBank Deutsche Girozentrale acquired a new stake in Skechers U.S.A. during the 3rd quarter worth approximately $31,000. GAMMA Investing LLC acquired a new stake in Skechers U.S.A. during the 4th quarter worth approximately $36,000. Planned Solutions Inc. acquired a new stake in Skechers U.S.A. during the 4th quarter worth approximately $70,000. Finally, Meeder Asset Management Inc. acquired a new stake in Skechers U.S.A. during the 4th quarter worth approximately $77,000. 79.96% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

SKX has been the subject of several analyst reports. Bank of America initiated coverage on Skechers U.S.A. in a report on Friday, March 8th. They issued a “neutral” rating and a $67.00 price objective for the company. Wedbush reaffirmed an “outperform” rating and issued a $76.00 price objective on shares of Skechers U.S.A. in a report on Friday, May 17th. Stifel Nicolaus dropped their price objective on Skechers U.S.A. from $72.00 to $70.00 and set a “buy” rating for the company in a report on Friday, February 2nd. Raymond James dropped their price objective on Skechers U.S.A. from $68.00 to $66.00 and set an “outperform” rating for the company in a report on Monday, February 5th. Finally, TD Cowen boosted their price target on Skechers U.S.A. from $70.00 to $74.00 and gave the stock a “buy” rating in a report on Wednesday, March 6th. Two research analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $66.83.

Skechers U.S.A. Trading Up 1.4 %

NYSE SKX opened at $68.29 on Monday. The business’s 50-day moving average price is $62.48 and its two-hundred day moving average price is $60.87. Skechers U.S.A., Inc. has a 12 month low of $45.58 and a 12 month high of $69.80. The firm has a market capitalization of $10.42 billion, a PE ratio of 17.97, a price-to-earnings-growth ratio of 1.20 and a beta of 1.29. The company has a current ratio of 2.39, a quick ratio of 1.56 and a debt-to-equity ratio of 0.02.

Skechers U.S.A. (NYSE:SKX) last announced its quarterly earnings data on Thursday, April 25th. The textile maker reported $1.33 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.10 by $0.23. The company had revenue of $2.25 billion for the quarter, compared to the consensus estimate of $2.20 billion. Skechers U.S.A. had a return on equity of 13.56% and a net margin of 7.17%. The firm’s revenue was up 12.5% compared to the same quarter last year. During the same period in the previous year, the business earned $1.02 EPS. On average, analysts expect that Skechers U.S.A., Inc. will post 4.06 EPS for the current year.

Insider Buying and Selling

In other news, COO David Weinberg sold 20,226 shares of the stock in a transaction that occurred on Friday, March 15th. The stock was sold at an average price of $61.11, for a total value of $1,236,010.86. Following the completion of the sale, the chief operating officer now directly owns 99,655 shares of the company’s stock, valued at $6,089,917.05. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other news, COO David Weinberg sold 20,226 shares of the stock in a transaction that occurred on Friday, March 15th. The stock was sold at an average price of $61.11, for a total value of $1,236,010.86. Following the completion of the sale, the chief operating officer now directly owns 99,655 shares of the company’s stock, valued at $6,089,917.05. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, President Michael Greenberg sold 25,282 shares of the stock in a transaction that occurred on Friday, March 15th. The stock was sold at an average price of $61.11, for a total value of $1,544,983.02. Following the completion of the sale, the president now directly owns 123,441 shares of the company’s stock, valued at $7,543,479.51. The disclosure for this sale can be found here. In the last three months, insiders have sold 81,914 shares of company stock valued at $5,005,765. 24.75% of the stock is owned by company insiders.

Skechers U.S.A. Company 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.