Stifel Financial Corp Has $4.87 Million Stock Holdings in Skechers U.S.A., Inc. (NYSE:SKX)

Stifel Financial Corp increased its holdings in shares of Skechers U.S.A., Inc. (NYSE:SKX) by 120.7% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 72,808 shares of the textile maker’s stock after purchasing an additional 39,819 shares during the period. Stifel Financial Corp’s holdings in Skechers U.S.A. were worth $4,872,000 at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in SKX. UMB Bank n.a. grew its position in shares of Skechers U.S.A. by 423.3% during the 3rd quarter. UMB Bank n.a. now owns 450 shares of the textile maker’s stock worth $30,000 after buying an additional 364 shares during the period. Venturi Wealth Management LLC boosted its stake in Skechers U.S.A. by 52.9% during the third quarter. Venturi Wealth Management LLC now owns 864 shares of the textile maker’s stock worth $58,000 after acquiring an additional 299 shares in the last quarter. Brooklyn Investment Group acquired a new stake in Skechers U.S.A. in the third quarter worth $67,000. 1620 Investment Advisors Inc. acquired a new stake in Skechers U.S.A. in the second quarter worth $69,000. Finally, Blue Trust Inc. increased its stake in Skechers U.S.A. by 778.1% in the third quarter. Blue Trust Inc. now owns 1,001 shares of the textile maker’s stock valued at $69,000 after purchasing an additional 887 shares in the last quarter. 79.96% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on the stock. Barclays increased their price objective on shares of Skechers U.S.A. from $79.00 to $80.00 and gave the stock an “overweight” rating in a research report on Friday, October 25th. TD Cowen cut their price target on Skechers U.S.A. from $78.00 to $76.00 and set a “buy” rating on the stock in a report on Monday, October 14th. Piper Sandler started coverage on Skechers U.S.A. in a report on Tuesday, December 10th. They set a “neutral” rating and a $65.00 price objective for the company. Morgan Stanley upped their price objective on shares of Skechers U.S.A. from $81.00 to $84.00 and gave the stock an “overweight” rating in a report on Friday, October 25th. Finally, Deutsche Bank Aktiengesellschaft boosted their price objective on Skechers U.S.A. from $83.00 to $84.00 and gave the stock a “buy” rating in a report on Friday, October 25th. Three analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $77.00.

Skechers U.S.A. Price Performance

Shares of NYSE SKX opened at $70.35 on Monday. The company has a current ratio of 1.96, a quick ratio of 1.25 and a debt-to-equity ratio of 0.01. The stock has a fifty day simple moving average of $64.10 and a two-hundred day simple moving average of $66.17. Skechers U.S.A., Inc. has a 1-year low of $55.67 and a 1-year high of $75.09. The firm has a market cap of $10.62 billion, a price-to-earnings ratio of 17.33, a price-to-earnings-growth ratio of 0.98 and a beta of 1.22.

Skechers U.S.A. (NYSE:SKX) last posted its quarterly earnings results on Thursday, October 24th. The textile maker reported $1.26 earnings per share for the quarter, topping the consensus estimate 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 company had revenue of $2.35 billion during the quarter, compared to the consensus estimate of $2.31 billion. During the same quarter in the prior year, the company earned $0.93 EPS. The firm’s quarterly revenue was up 16.0% compared to the same quarter last year. Analysts anticipate that Skechers U.S.A., Inc. will post 4.24 earnings per share for the current year.

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.