Massachusetts Financial Services Co. MA Has $292 Million Holdings in Skechers U.S.A., Inc. (NYSE:SKX)

Massachusetts Financial Services Co. MA reduced its stake in shares of Skechers U.S.A., Inc. (NYSE:SKX - Free Report) by 0.5% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 4,363,390 shares of the textile maker's stock after selling 22,674 shares during the quarter. Massachusetts Financial Services Co. MA owned about 2.89% of Skechers U.S.A. worth $291,998,000 at the end of the most recent reporting period.

Other institutional investors have also bought and sold shares of the company. Commerce Bank increased its stake in shares of Skechers U.S.A. by 949.5% during the third quarter. Commerce Bank now owns 467,774 shares of the textile maker's stock valued at $31,303,000 after acquiring an additional 423,204 shares during the period. Coronation Fund Managers Ltd. raised its stake in shares of Skechers U.S.A. by 378.6% in the 3rd quarter. Coronation Fund Managers Ltd. now owns 498,837 shares of the textile maker's stock worth $33,382,000 after buying an additional 394,618 shares in the last quarter. Acadian Asset Management LLC bought a new stake in shares of Skechers U.S.A. in the 2nd quarter worth $22,425,000. Teachers Retirement System of The State of Kentucky boosted its stake in Skechers U.S.A. by 646.3% during the second quarter. Teachers Retirement System of The State of Kentucky now owns 323,321 shares of the textile maker's stock valued at $22,348,000 after buying an additional 280,000 shares in the last quarter. Finally, Adams Diversified Equity Fund Inc. acquired a new position in Skechers U.S.A. during the third quarter worth about $16,790,000. Institutional investors and hedge funds own 79.96% of the company's stock.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on SKX. Bank of America cut their price target on shares of Skechers U.S.A. from $81.00 to $80.00 and set a "buy" rating for the company in a report on Friday, October 25th. Evercore ISI boosted their target price on Skechers U.S.A. from $68.00 to $72.00 and gave the stock an "outperform" rating in a research report on Friday, July 26th. Stifel Nicolaus lifted their price target on Skechers U.S.A. from $81.00 to $83.00 and gave the stock a "buy" rating in a research note on Friday, July 26th. TD Cowen reduced their price objective on shares of Skechers U.S.A. from $78.00 to $76.00 and set a "buy" rating for the company in a research note on Monday, October 14th. Finally, Deutsche Bank Aktiengesellschaft lifted their target price on shares of Skechers U.S.A. from $83.00 to $84.00 and gave the stock a "buy" rating in a research report on Friday, October 25th. One research analyst has rated the stock with a hold rating and twelve have given a buy rating to the company. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $78.09.

Skechers U.S.A. Stock Up 1.1 %

Shares of Skechers U.S.A. stock traded up $0.68 on Friday, hitting $61.69. 1,699,102 shares of the company traded hands, compared to its average volume of 2,231,586. The company has a quick ratio of 1.25, a current ratio of 1.96 and a debt-to-equity ratio of 0.01. Skechers U.S.A., Inc. has a 12-month low of $54.95 and a 12-month high of $75.09. The company has a 50-day moving average price of $63.61 and a 200 day moving average price of $66.24. The company has a market cap of $9.31 billion, a PE ratio of 15.19, a PEG ratio of 0.85 and a beta of 1.23.

Skechers U.S.A. (NYSE:SKX - Get Free Report) last issued its 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 for the quarter, compared to analyst estimates of $2.31 billion. During the same period in the prior year, the firm posted $0.93 EPS. The business's revenue was up 16.0% compared to the same quarter last year. Sell-side analysts predict that Skechers U.S.A., Inc. will post 4.25 earnings per share for the current year.

Skechers U.S.A. 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.