Teacher Retirement System of Texas Acquires 4,599 Shares of Skechers U.S.A., Inc. (NYSE:SKX)

Teacher Retirement System of Texas grew its holdings in Skechers U.S.A., Inc. (NYSE:SKX - Free Report) by 8.6% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 57,926 shares of the textile maker's stock after purchasing an additional 4,599 shares during the quarter. Teacher Retirement System of Texas' holdings in Skechers U.S.A. were worth $3,895,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also modified their holdings of SKX. Bank of New York Mellon Corp increased its holdings in Skechers U.S.A. by 70.4% in the fourth quarter. Bank of New York Mellon Corp now owns 2,308,283 shares of the textile maker's stock valued at $155,209,000 after purchasing an additional 953,528 shares during the last quarter. Wellington Management Group LLP raised its holdings in shares of Skechers U.S.A. by 39.0% in the third quarter. Wellington Management Group LLP now owns 1,025,556 shares of the textile maker's stock valued at $68,630,000 after purchasing 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 buying an additional 253,045 shares in the last quarter. Raymond James Financial Inc. acquired a new position in Skechers U.S.A. during the fourth quarter valued at approximately $12,852,000. Finally, Bfsg LLC boosted its holdings in shares of Skechers U.S.A. by 1,519.6% in the 4th quarter. Bfsg LLC now owns 101,487 shares of the textile maker's stock valued at $6,824,000 after buying an additional 95,221 shares during the last quarter. Institutional investors and hedge funds own 79.96% of the company's stock.

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Wall Street Analysts Forecast Growth

SKX has been the topic of several research analyst reports. Evercore ISI upped their price objective on 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. StockNews.com cut shares of Skechers U.S.A. from a "buy" rating to a "hold" rating in a research report on Monday, February 10th. Bank of America reduced their target price on Skechers U.S.A. from $76.00 to $70.00 and set a "buy" rating on the stock in a report on Monday. Needham & Company LLC reiterated a "hold" rating on shares of Skechers U.S.A. in a research report on Friday, February 7th. Finally, UBS Group cut their price target on Skechers U.S.A. from $92.00 to $90.00 and set a "buy" rating on the stock in a research note on Friday, February 7th. Three analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of $80.42.

Skechers U.S.A. Trading Down 1.6 %

SKX stock traded down $0.90 during mid-day trading on Friday, reaching $56.90. The company's stock had a trading volume of 2,024,376 shares, compared to its average volume of 2,070,337. The company has a current ratio of 1.97, a quick ratio of 1.12 and a debt-to-equity ratio of 0.01. Skechers U.S.A., Inc. has a 12 month low of $53.79 and a 12 month high of $78.85. The business's 50 day moving average price is $64.54 and its 200 day moving average price is $65.27. The company has a market cap of $8.50 billion, a price-to-earnings ratio of 13.71, a price-to-earnings-growth ratio of 1.11 and a beta of 1.21.

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 EPS for the quarter, missing analysts' consensus estimates 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%. On average, equities research analysts predict that Skechers U.S.A., Inc. will post 4.47 EPS for the current year.

Insiders Place Their Bets

In other news, President Michael Greenberg sold 10,274 shares of the company's stock in a transaction that occurred on Tuesday, December 31st. The stock was sold at an average price of $67.48, for a total value of $693,289.52. Following the completion of the transaction, the president now directly owns 149,327 shares of the company's stock, valued at $10,076,585.96. This represents a 6.44 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CFO John M. Vandemore sold 5,112 shares of the business's stock in a transaction on Monday, March 3rd. The stock was sold at an average price of $60.76, for a total value of $310,605.12. Following the completion of the transaction, the chief financial officer now directly owns 83,328 shares in the company, valued at approximately $5,063,009.28. This represents a 5.78 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 236,738 shares of company stock valued at $14,700,809 in the last three months. 24.75% of the stock is currently owned by insiders.

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.