Teacher Retirement System of Texas Sells 8,331 Shares of Skechers U.S.A., Inc. (NYSE:SKX)

Teacher Retirement System of Texas reduced its position in Skechers U.S.A., Inc. (NYSE:SKX - Free Report) by 14.4% during the first quarter, according to its most recent 13F filing with the SEC. The firm owned 49,595 shares of the textile maker's stock after selling 8,331 shares during the period. Teacher Retirement System of Texas' holdings in Skechers U.S.A. were worth $2,816,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. NewEdge Advisors LLC grew its holdings in shares of Skechers U.S.A. by 85.2% during the fourth quarter. NewEdge Advisors LLC now owns 413 shares of the textile maker's stock worth $28,000 after purchasing an additional 190 shares in the last quarter. TD Private Client Wealth LLC lifted its position in Skechers U.S.A. by 534.3% in the fourth quarter. TD Private Client Wealth LLC now owns 425 shares of the textile maker's stock valued at $29,000 after purchasing an additional 358 shares during the last quarter. Investment Management Corp VA ADV bought a new position in shares of Skechers U.S.A. during the fourth quarter valued at approximately $32,000. Parallel Advisors LLC raised its holdings in shares of Skechers U.S.A. by 183.0% during the first quarter. Parallel Advisors LLC now owns 617 shares of the textile maker's stock valued at $35,000 after acquiring an additional 399 shares in the last quarter. Finally, Golden State Wealth Management LLC bought a new position in shares of Skechers U.S.A. during the first quarter valued at approximately $35,000. 79.96% of the stock is currently owned by institutional investors.

Skechers U.S.A. Price Performance

Shares of SKX stock opened at $63.16 on Thursday. The company has a current ratio of 2.13, a quick ratio of 1.28 and a debt-to-equity ratio of 0.02. The stock has a market capitalization of $9.45 billion, a price-to-earnings ratio of 15.18 and a beta of 1.12. Skechers U.S.A., Inc. has a twelve month low of $44.50 and a twelve month high of $78.85. The stock has a fifty day simple moving average of $61.81 and a two-hundred day simple moving average of $61.50.

Skechers U.S.A. (NYSE:SKX - Get Free Report) last announced its earnings results on Thursday, April 24th. The textile maker reported $1.34 earnings per share (EPS) for the quarter, beating the consensus estimate 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 company had revenue of $2.41 billion for the quarter, compared to analyst estimates of $2.43 billion. During the same period in the prior year, the company posted $1.33 EPS. The firm's quarterly revenue was up 7.1% compared to the same quarter last year. On average, analysts predict that Skechers U.S.A., Inc. will post 4.47 EPS for the current fiscal year.

Wall Street Analyst Weigh In

SKX has been the subject of a number of research reports. Stifel Nicolaus decreased their price objective on Skechers U.S.A. from $80.00 to $62.00 and set a "buy" rating for the company in a report on Thursday, April 10th. Monness Crespi & Hardt cut Skechers U.S.A. from a "strong-buy" rating to a "hold" rating in a research report on Wednesday, May 7th. Wall Street Zen assumed coverage on Skechers U.S.A. in a report on Thursday, May 22nd. They issued a "sell" rating on the stock. TD Cowen downgraded Skechers U.S.A. from a "buy" rating to a "hold" rating and set a $63.00 price objective on the stock. in a research note on Wednesday, May 28th. Finally, Evercore ISI decreased their price objective on Skechers U.S.A. from $78.00 to $60.00 and set an "outperform" rating on the stock in a research note on Thursday, April 17th. One 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 stock. According to data from MarketBeat, the company currently has an average rating of "Hold" and an average target price of $67.69.

Skechers U.S.A. 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.

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