Skechers U.S.A., Inc. (NYSE:SKX) Shares Sold by California Public Employees Retirement System

California Public Employees Retirement System lowered its position in Skechers U.S.A., Inc. (NYSE:SKX - Free Report) by 4.6% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 233,404 shares of the textile maker's stock after selling 11,330 shares during the quarter. California Public Employees Retirement System owned approximately 0.15% of Skechers U.S.A. worth $15,694,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also modified their holdings of the company. Norges Bank purchased a new position in Skechers U.S.A. during the 4th quarter worth $105,741,000. Bank of New York Mellon Corp boosted its stake in shares of Skechers U.S.A. by 70.4% during the fourth quarter. Bank of New York Mellon Corp now owns 2,308,283 shares of the textile maker's stock worth $155,209,000 after buying an additional 953,528 shares during the period. Wellington Management Group LLP raised its stake in Skechers U.S.A. by 39.0% during the 3rd quarter. Wellington Management Group LLP now owns 1,025,556 shares of the textile maker's stock valued at $68,630,000 after acquiring an additional 287,939 shares during the last quarter. Vaughan Nelson Investment Management L.P. lifted its position in Skechers U.S.A. by 68.3% during the 4th quarter. Vaughan Nelson Investment Management L.P. now owns 623,745 shares of the textile maker's stock worth $41,940,000 after acquiring an additional 253,045 shares during the period. Finally, Raymond James Financial Inc. purchased a new position in Skechers U.S.A. in the 4th quarter valued at $12,852,000. 79.96% of the stock is owned by institutional investors and hedge funds.

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Analyst Ratings Changes

Several analysts have recently commented on the company. Needham & Company LLC reissued a "hold" rating on shares of Skechers U.S.A. in a report on Friday, February 7th. Evercore ISI increased their price objective on shares of Skechers U.S.A. from $72.00 to $85.00 and gave the company an "outperform" rating in a research note on Tuesday, January 28th. Stifel Nicolaus lowered their price target on shares of Skechers U.S.A. from $83.00 to $80.00 and set a "buy" rating on the stock in a research report on Friday, February 7th. UBS Group cut their price objective on Skechers U.S.A. from $92.00 to $90.00 and set a "buy" rating for the company in a research report on Friday, February 7th. Finally, Barclays lowered their target price on Skechers U.S.A. from $80.00 to $77.00 and set an "overweight" rating on the stock in a report on Monday, February 10th. Three investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $80.42.

Insider Transactions at Skechers U.S.A.

In related news, President Michael Greenberg sold 33,656 shares of the stock in a transaction on Monday, March 3rd. The stock was sold at an average price of $60.76, for a total value of $2,044,938.56. Following the completion of the sale, the president now directly owns 137,530 shares in the company, valued at approximately $8,356,322.80. This represents a 19.66 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, General Counsel Phillip Paccione sold 10,994 shares of the business's stock in a transaction dated Monday, March 3rd. The stock was sold at an average price of $56.63, for a total value of $622,590.22. Following the transaction, the general counsel now owns 15,000 shares in the company, valued at approximately $849,450. This represents a 42.29 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 218,245 shares of company stock worth $13,452,902 in the last three months. 24.75% of the stock is currently owned by company insiders.

Skechers U.S.A. Trading Down 4.2 %

Skechers U.S.A. stock traded down $2.05 during trading on Tuesday, reaching $46.17. The company had a trading volume of 2,421,089 shares, compared to its average volume of 2,161,720. Skechers U.S.A., Inc. has a 12-month low of $45.33 and a 12-month 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 stock's 50 day moving average price is $61.81 and its two-hundred day moving average price is $64.66. The firm has a market capitalization of $6.89 billion, a price-to-earnings ratio of 11.17, a PEG ratio of 1.11 and a beta of 1.08.

Skechers U.S.A. (NYSE:SKX - Get Free Report) last announced its quarterly earnings data on Thursday, February 6th. The textile maker reported $0.65 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.73 by ($0.08). Skechers U.S.A. had a net margin of 7.13% and a return on equity of 13.73%. As a group, equities 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.