New York State Teachers Retirement System Has $9.12 Million Stake in Skechers U.S.A., Inc. (NYSE:SKX)

New York State Teachers Retirement System decreased its position in shares of Skechers U.S.A., Inc. (NYSE:SKX - Free Report) by 3.8% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor 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 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of SKX. Norges Bank acquired a new stake in shares of Skechers U.S.A. during the 4th quarter valued at $105,741,000. Duquesne Family Office LLC acquired a new position in Skechers U.S.A. during the 4th quarter worth about $72,272,000. Two Sigma Investments LP lifted its holdings in Skechers U.S.A. by 772.7% during the 4th quarter. Two Sigma Investments LP now owns 1,176,488 shares of the textile maker's stock worth $79,107,000 after buying an additional 1,041,677 shares during the period. Anomaly Capital Management LP lifted its holdings in Skechers U.S.A. by 51.2% during the 4th quarter. Anomaly Capital Management LP now owns 2,989,015 shares of the textile maker's stock worth $200,981,000 after buying an additional 1,011,815 shares during the period. Finally, Two Sigma Advisers LP lifted its holdings in Skechers U.S.A. by 381.0% during the 4th quarter. Two Sigma Advisers LP now owns 1,081,800 shares of the textile maker's stock worth $72,740,000 after buying an additional 856,900 shares during the period. Institutional investors and hedge funds own 79.96% of the company's stock.

Wall Street Analysts Forecast Growth

SKX has been the topic of several recent research reports. Wall Street Zen initiated coverage on Skechers U.S.A. in a report on Thursday, May 22nd. They set a "sell" rating on the stock. Bank of America cut 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, March 24th. Evercore ISI cut their target price on Skechers U.S.A. from $78.00 to $60.00 and set an "outperform" rating on the stock in a report on Thursday, April 17th. Stifel Nicolaus lowered their price objective on Skechers U.S.A. from $80.00 to $62.00 and set a "buy" rating for the company in a research report on Thursday, April 10th. Finally, Wells Fargo & Company lifted their price objective on Skechers U.S.A. from $57.00 to $63.00 and gave the stock an "overweight" rating in a research report on Tuesday, May 6th. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of "Hold" and an average price target of $67.69.

Skechers U.S.A. Stock Down 0.0%

Skechers U.S.A. stock traded down $0.03 during midday trading on Tuesday, reaching $63.33. The stock had a trading volume of 2,391,226 shares, compared to its average volume of 3,553,137. Skechers U.S.A., Inc. has a 12 month low of $44.50 and a 12 month high of $78.85. The company has a market capitalization of $9.47 billion, a P/E ratio of 15.22 and a beta of 1.12. The company has a fifty day moving average price of $61.51 and a two-hundred day moving average price of $61.49. The company has a current ratio of 2.13, a quick ratio of 1.28 and a debt-to-equity ratio of 0.02.

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