UMB Bank n.a. Has $86,000 Holdings in Skechers U.S.A., Inc. (NYSE:SKX)

UMB Bank n.a. grew its holdings in Skechers U.S.A., Inc. (NYSE:SKX) by 120.3% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 1,518 shares of the textile maker’s stock after purchasing an additional 829 shares during the quarter. UMB Bank n.a.’s holdings in Skechers U.S.A. were worth $86,000 at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of SKX. Sendero Wealth Management LLC boosted its stake in Skechers U.S.A. by 35.7% in the first quarter. Sendero Wealth Management LLC now owns 16,483 shares of the textile maker’s stock valued at $936,000 after acquiring an additional 4,332 shares during the last quarter. Cascade Investment Advisors Inc. lifted its stake in shares of Skechers U.S.A. by 4.1% in the 1st quarter. Cascade Investment Advisors Inc. now owns 25,925 shares of the textile maker’s stock valued at $1,472,000 after purchasing an additional 1,025 shares during the period. Delphi Management Inc. MA boosted its position in shares of Skechers U.S.A. by 1.0% in the 1st quarter. Delphi Management Inc. MA now owns 22,797 shares of the textile maker’s stock worth $1,294,000 after purchasing an additional 236 shares during the last quarter. Parallel Advisors LLC grew its stake in shares of Skechers U.S.A. by 183.0% during the first quarter. Parallel Advisors LLC now owns 617 shares of the textile maker’s stock worth $35,000 after purchasing an additional 399 shares during the period. Finally, GAMMA Investing LLC increased its holdings in Skechers U.S.A. by 9,033.0% in the first quarter. GAMMA Investing LLC now owns 187,317 shares of the textile maker’s stock valued at $10,636,000 after purchasing an additional 185,266 shares during the last quarter. Institutional investors and hedge funds own 79.96% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on SKX. Evercore ISI cut their target price on Skechers U.S.A. from $78.00 to $60.00 and set an “outperform” rating on the stock in a research note on Thursday, April 17th. TD Cowen downgraded shares of Skechers U.S.A. from a “buy” rating to a “hold” rating and set a $63.00 price target on the stock. in a research report on Wednesday, May 28th. UBS Group reissued a “neutral” rating and set a $63.00 price objective (down previously from $64.00) on shares of Skechers U.S.A. in a research note on Tuesday, May 6th. Barclays restated an “equal weight” rating and set a $63.00 price objective (up previously from $53.00) on shares of Skechers U.S.A. in a report on Tuesday, May 6th. Finally, Bank of America cut their target price on shares of Skechers U.S.A. from $76.00 to $70.00 and set a “buy” rating on the stock in a report on Monday, March 24th. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $67.69.

Skechers U.S.A. Stock Performance

Shares of SKX stock opened at $62.71 on Friday. The company has a market capitalization of $9.38 billion, a P/E ratio of 15.11, a price-to-earnings-growth ratio of 1.11 and a beta of 1.13. Skechers U.S.A., Inc. has a 52 week low of $44.50 and a 52 week high of $78.85. The company has a debt-to-equity ratio of 0.01, a quick ratio of 1.12 and a current ratio of 1.97. The company’s 50 day moving average price is $56.23 and its two-hundred day moving average price is $62.17.

Skechers U.S.A. (NYSE:SKX) last issued its quarterly earnings data on Thursday, April 24th. The textile maker reported $1.34 EPS for the quarter, topping analysts’ consensus estimates of $1.17 by $0.17. The business had revenue of $2.41 billion for the quarter, compared to analyst estimates of $2.43 billion. Skechers U.S.A. had a net margin of 7.13% and a return on equity of 13.73%. The firm’s quarterly revenue was up 7.1% on a year-over-year basis. During the same period last year, the business posted $1.33 earnings per share. On average, analysts expect that Skechers U.S.A., Inc. will post 4.47 earnings per share for the current fiscal year.

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.