Skechers U.S.A., Inc. (NYSE:SKX) Shares Bought by Commerce Bank

Key Points

• Commerce Bank increased its position in Skechers U.S.A., Inc. by 33.1%, now owning 597,228 shares valued at $33.91 million.
• Institutional investors and hedge funds own approximately 79.96% of Skechers' stock, indicating strong support from large financial entities.
• Skechers' stock currently has a price target of $66.75 and an average rating of "Hold," with various analysts weighing in from sell to buy ratings.

Commerce Bank boosted its holdings in Skechers U.S.A., Inc. (NYSE:SKX - Free Report) by 33.1% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 597,228 shares of the textile maker's stock after buying an additional 148,411 shares during the quarter. Commerce Bank owned approximately 0.40% of Skechers U.S.A. worth $33,911,000 at the end of the most recent quarter.

Several other large investors have also recently bought and sold shares of SKX. Victory Capital Management Inc. boosted its stake in Skechers U.S.A. by 15,774.3% in the first quarter. Victory Capital Management Inc. now owns 3,949,844 shares of the textile maker's stock valued at $224,272,000 after acquiring an additional 3,924,962 shares in the last quarter. Duquesne Family Office LLC acquired a new position in Skechers U.S.A. in the fourth quarter valued at $72,272,000. Two Sigma Investments LP boosted its stake in Skechers U.S.A. by 772.7% in the fourth quarter. Two Sigma Investments LP now owns 1,176,488 shares of the textile maker's stock valued at $79,107,000 after acquiring an additional 1,041,677 shares in the last quarter. Anomaly Capital Management LP boosted its stake in Skechers U.S.A. by 51.2% in the fourth quarter. Anomaly Capital Management LP now owns 2,989,015 shares of the textile maker's stock valued at $200,981,000 after acquiring an additional 1,011,815 shares in the last quarter. Finally, Two Sigma Advisers LP boosted its stake in Skechers U.S.A. by 381.0% in the fourth quarter. Two Sigma Advisers LP now owns 1,081,800 shares of the textile maker's stock valued at $72,740,000 after acquiring an additional 856,900 shares in the last quarter. Hedge funds and other institutional investors own 79.96% of the company's stock.

Skechers U.S.A. Stock Performance

NYSE:SKX traded up $0.02 during mid-day trading on Wednesday, reaching $63.07. The stock had a trading volume of 1,233,157 shares, compared to its average volume of 4,675,223. The company has a debt-to-equity ratio of 0.02, a quick ratio of 1.28 and a current ratio of 2.13. The firm has a market capitalization of $9.43 billion, a price-to-earnings ratio of 15.16 and a beta of 1.16. Skechers U.S.A., Inc. has a twelve month low of $44.50 and a twelve month high of $78.85. The business has a 50 day simple moving average of $62.81 and a 200 day simple moving average of $60.70.

Analyst Ratings Changes

Several equities analysts have issued reports on the stock. Wells Fargo & Company upped their price objective on shares of Skechers U.S.A. from $57.00 to $63.00 and gave the company an "overweight" rating in a research note on Tuesday, May 6th. UBS Group restated a "neutral" rating and issued 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 issued a $63.00 price objective (up previously from $53.00) on shares of Skechers U.S.A. in a research note on Tuesday, May 6th. Stifel Nicolaus decreased their target price on shares of Skechers U.S.A. from $80.00 to $62.00 and set a "buy" rating for the company in a research note on Thursday, April 10th. Finally, Raymond James Financial downgraded shares of Skechers U.S.A. from a "moderate buy" rating to a "hold" rating in a research note on Monday, May 5th. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of "Hold" and an average price target of $66.75.

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.