UMB Bank n.a. Has $30,000 Stock Holdings in Skechers U.S.A., Inc. (NYSE:SKX)

UMB Bank n.a. lifted its stake in shares of Skechers U.S.A., Inc. (NYSE:SKX) by 423.3% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 450 shares of the textile maker’s stock after purchasing an additional 364 shares during the quarter. UMB Bank n.a.’s holdings in Skechers U.S.A. were worth $30,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also bought and sold shares of SKX. Redmont Wealth Advisors LLC acquired a new position in shares of Skechers U.S.A. in the 1st quarter valued at approximately $25,000. Bessemer Group Inc. increased its stake in Skechers U.S.A. by 66.7% in the first quarter. Bessemer Group Inc. now owns 410 shares of the textile maker’s stock valued at $25,000 after acquiring an additional 164 shares during the last quarter. Game Plan Financial Advisors LLC acquired a new position in Skechers U.S.A. during the first quarter valued at approximately $43,000. Versant Capital Management Inc lifted its stake in Skechers U.S.A. by 2,809.1% during the second quarter. Versant Capital Management Inc now owns 640 shares of the textile maker’s stock worth $44,000 after purchasing an additional 618 shares during the last quarter. Finally, Sunbelt Securities Inc. acquired a new stake in shares of Skechers U.S.A. in the 1st quarter valued at $45,000. Institutional investors own 79.96% of the company’s stock.

Skechers U.S.A. Trading Down 3.0 %

Shares of Skechers U.S.A. stock opened at $63.16 on Wednesday. The stock has a market capitalization of $9.63 billion, a PE ratio of 16.62, a price-to-earnings-growth ratio of 0.95 and a beta of 1.22. Skechers U.S.A., Inc. has a 52 week low of $45.58 and a 52 week high of $75.09. The stock has a 50 day moving average price of $66.13 and a two-hundred day moving average price of $66.04. The company has a debt-to-equity ratio of 0.01, a quick ratio of 1.33 and a current ratio of 2.06.

Skechers U.S.A. (NYSE:SKX) last posted its quarterly earnings results on Thursday, July 25th. The textile maker reported $0.91 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.95 by ($0.04). Skechers U.S.A. had a net margin of 6.90% and a return on equity of 13.04%. The business had revenue of $2.16 billion during the quarter, compared to analyst estimates of $2.24 billion. During the same period in the previous year, the business posted $0.98 EPS. The business’s revenue for the quarter was up 7.3% compared to the same quarter last year. As a group, equities analysts anticipate that Skechers U.S.A., Inc. will post 4.17 earnings per share for the current fiscal year.

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

Analyst Upgrades and Downgrades

SKX has been the subject of several recent analyst reports. TD Cowen dropped their price objective on Skechers U.S.A. from $78.00 to $76.00 and set a “buy” rating for the company in a research report on Monday. Evercore ISI boosted their price target 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. Stifel Nicolaus increased their price objective 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. Morgan Stanley upgraded shares of Skechers U.S.A. from an “equal weight” rating to an “overweight” rating and raised their price target for the stock from $60.00 to $80.00 in a report on Tuesday, July 23rd. Finally, Bank of America reduced their price objective on shares of Skechers U.S.A. from $87.00 to $81.00 and set a “buy” rating on the stock in a research note on Monday, September 23rd. Eleven investment analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock has an average rating of “Buy” and an average price target of $77.55.

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.