Skechers U.S.A., Inc. (NYSE:SKX) Shares Sold by New York State Teachers Retirement System

New York State Teachers Retirement System cut its stake in shares of Skechers U.S.A., Inc. (NYSE:SKX - Free Report) by 3.5% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 167,119 shares of the textile maker's stock after selling 6,129 shares during the period. New York State Teachers Retirement System owned 0.11% of Skechers U.S.A. worth $11,237,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in the company. Pacer Advisors Inc. grew its position in Skechers U.S.A. by 5,780.6% during the third quarter. Pacer Advisors Inc. now owns 2,639,390 shares of the textile maker's stock valued at $176,628,000 after acquiring an additional 2,594,507 shares during the period. Geode Capital Management LLC raised its holdings in shares of Skechers U.S.A. by 0.5% in the 3rd quarter. Geode Capital Management LLC now owns 2,216,905 shares of the textile maker's stock worth $148,395,000 after purchasing an additional 11,026 shares during the period. Charles Schwab Investment Management Inc. lifted its stake in shares of Skechers U.S.A. by 1.3% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,316,882 shares of the textile maker's stock valued at $88,126,000 after purchasing an additional 17,429 shares in the last quarter. Wellington Management Group LLP grew its holdings in shares of 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 worth $68,630,000 after purchasing an additional 287,939 shares during the period. Finally, Loomis Sayles & Co. L P increased its position in Skechers U.S.A. by 7.1% during the 3rd quarter. Loomis Sayles & Co. L P now owns 752,067 shares of the textile maker's stock worth $50,328,000 after purchasing an additional 49,734 shares in the last quarter. 79.96% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on SKX. Raymond James reduced their price target on shares of Skechers U.S.A. from $80.00 to $75.00 and set an "outperform" rating on the stock in a research report on Friday, February 7th. Needham & Company LLC restated a "hold" rating on shares of Skechers U.S.A. in a report on Friday, February 7th. Evercore ISI increased their price target on Skechers U.S.A. from $72.00 to $85.00 and gave the company an "outperform" rating in a report on Tuesday, January 28th. Barclays reduced their price objective on Skechers U.S.A. from $80.00 to $77.00 and set an "overweight" rating on the stock in a research note on Monday, February 10th. Finally, StockNews.com downgraded Skechers U.S.A. from a "buy" rating to a "hold" rating in a research report on Monday, February 10th. Three equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. Based on data from MarketBeat, Skechers U.S.A. has an average rating of "Moderate Buy" and a consensus target price of $81.25.

Insider Transactions at Skechers U.S.A.

In related news, EVP Mark A. Nason sold 12,046 shares of the business's stock in a transaction dated Tuesday, February 18th. The stock was sold at an average price of $66.08, for a total value of $795,999.68. Following the completion of the sale, the executive vice president now directly owns 25,675 shares of the company's stock, valued at $1,696,604. The trade was a 31.93 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, COO David Weinberg sold 8,219 shares of the company's stock in a transaction that occurred on Tuesday, December 31st. The shares were sold at an average price of $67.48, for a total value of $554,618.12. Following the sale, the chief operating officer now owns 122,211 shares in the company, valued at $8,246,798.28. The trade was a 6.30 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 119,139 shares of company stock valued at $7,600,899. Insiders own 24.75% of the company's stock.

Skechers U.S.A. Stock Down 4.0 %

SKX stock traded down $2.64 during midday trading on Friday, hitting $63.01. 2,822,836 shares of the company's stock were exchanged, compared to its average volume of 2,553,836. The firm has a 50 day moving average price of $69.61 and a 200-day moving average price of $66.53. Skechers U.S.A., Inc. has a 12-month low of $55.67 and a 12-month high of $78.85. The stock has a market capitalization of $9.51 billion, a price-to-earnings ratio of 15.18, a price-to-earnings-growth ratio of 1.12 and a beta of 1.19. 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. (NYSE:SKX - Get Free Report) last issued its quarterly earnings results on Thursday, February 6th. The textile maker reported $0.65 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.73 by ($0.08). Skechers U.S.A. had a return on equity of 13.73% and a net margin of 7.13%. On average, analysts anticipate that Skechers U.S.A., Inc. will post 4.47 EPS 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.