New York State Teachers Retirement System Sells 6,426 Shares of Skechers U.S.A., Inc. (NYSE:SKX)

New York State Teachers Retirement System cut its position in shares of Skechers U.S.A., Inc. (NYSE:SKX - Free Report) by 3.8% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 160,693 shares of the textile maker's stock after selling 6,426 shares during the quarter. New York State Teachers Retirement System owned approximately 0.11% of Skechers U.S.A. worth $9,124,000 as of its most recent SEC filing.

Several other institutional investors have also recently modified their holdings of the company. Cerity Partners LLC lifted its holdings in Skechers U.S.A. by 1.2% in the 4th quarter. Cerity Partners LLC now owns 14,090 shares of the textile maker's stock worth $947,000 after buying an additional 172 shares during the period. NewEdge Advisors LLC lifted its holdings in Skechers U.S.A. by 85.2% in the 4th quarter. NewEdge Advisors LLC now owns 413 shares of the textile maker's stock worth $28,000 after buying an additional 190 shares during the period. Independent Advisor Alliance lifted its holdings in Skechers U.S.A. by 4.7% in the 4th quarter. Independent Advisor Alliance now owns 4,486 shares of the textile maker's stock worth $302,000 after buying an additional 200 shares during the period. X Square Capital LLC lifted its holdings in Skechers U.S.A. by 0.5% in the 4th quarter. X Square Capital LLC now owns 42,835 shares of the textile maker's stock worth $2,880,000 after buying an additional 210 shares during the period. Finally, Avantax Advisory Services Inc. lifted its holdings in Skechers U.S.A. by 4.7% in the 4th quarter. Avantax Advisory Services Inc. now owns 4,692 shares of the textile maker's stock worth $315,000 after buying an additional 212 shares during the period. 79.96% of the stock is currently owned by institutional investors.

Skechers U.S.A. Stock Up 0.0%

SKX stock traded up $0.02 on Friday, reaching $63.27. 2,074,270 shares of the company traded hands, compared to its average volume of 3,554,085. Skechers U.S.A., Inc. has a one year low of $44.50 and a one year high of $78.85. The company has a debt-to-equity ratio of 0.02, a current ratio of 2.13 and a quick ratio of 1.28. The company has a market cap of $9.47 billion, a P/E ratio of 15.21 and a beta of 1.12. The firm has a fifty day simple moving average of $60.91 and a 200-day simple moving average of $61.54.

Skechers U.S.A. (NYSE:SKX - Get Free Report) last posted its earnings results on Thursday, April 24th. The textile maker reported $1.34 EPS for the quarter, topping analysts' consensus estimates of $1.17 by $0.17. The business had revenue of $2.41 billion during the quarter, compared to analyst estimates of $2.43 billion. Skechers U.S.A. had a return on equity of 13.34% and a net margin of 6.96%. The company's quarterly revenue was up 7.1% compared to the same quarter last year. During the same quarter last year, the company earned $1.33 EPS. Research analysts anticipate that Skechers U.S.A., Inc. will post 4.47 earnings per share for the current year.

Wall Street Analyst Weigh In

SKX has been the subject of several research analyst reports. Morgan Stanley reiterated an "equal weight" rating and issued a $63.00 price objective (down previously from $73.00) on shares of Skechers U.S.A. in a report on Wednesday, May 7th. TD Cowen cut Skechers U.S.A. from a "buy" rating to a "hold" rating and set a $63.00 target price for the company. in a research note on Wednesday, May 28th. Evercore ISI lowered their target price on Skechers U.S.A. from $78.00 to $60.00 and set an "outperform" rating for the company in a research note on Thursday, April 17th. Barclays restated an "equal weight" rating and issued a $63.00 target price (up previously from $53.00) on shares of Skechers U.S.A. in a research note on Tuesday, May 6th. Finally, Wall Street Zen started coverage on Skechers U.S.A. in a research note on Thursday, May 22nd. They issued a "sell" rating for the company. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating and six have issued a buy rating to the company. According to MarketBeat, the stock currently has an average rating of "Hold" and an average price target of $67.69.

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.