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

Teacher Retirement System of Texas lowered its holdings in Skechers U.S.A., Inc. (NYSE:SKX - Free Report) by 14.4% during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor 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 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of SKX. NewEdge Advisors LLC raised its holdings in shares of Skechers U.S.A. by 85.2% in the 4th quarter. NewEdge Advisors LLC now owns 413 shares of the textile maker's stock valued at $28,000 after acquiring an additional 190 shares in the last quarter. TD Private Client Wealth LLC raised its holdings in shares of Skechers U.S.A. by 534.3% in the 4th quarter. TD Private Client Wealth LLC now owns 425 shares of the textile maker's stock valued at $29,000 after acquiring an additional 358 shares in the last quarter. Investment Management Corp VA ADV purchased a new position in shares of Skechers U.S.A. during the 4th quarter valued at about $32,000. Parallel Advisors LLC raised its holdings in shares of Skechers U.S.A. by 183.0% during the 1st quarter. Parallel Advisors LLC now owns 617 shares of the textile maker's stock valued at $35,000 after buying an additional 399 shares in the last quarter. Finally, Golden State Wealth Management LLC purchased a new position in shares of Skechers U.S.A. during the 1st quarter valued at about $35,000. Hedge funds and other institutional investors own 79.96% of the company's stock.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on the company. 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 report on Thursday, April 17th. Wall Street Zen assumed coverage on Skechers U.S.A. in a report on Thursday, May 22nd. They set a "sell" rating on the stock. TD Cowen cut Skechers U.S.A. from a "buy" rating to a "hold" rating and set a $63.00 price objective on the stock. in a report on Wednesday, May 28th. Wells Fargo & Company raised their price objective on Skechers U.S.A. from $57.00 to $63.00 and gave the company an "overweight" rating in a report on Tuesday, May 6th. Finally, Monness Crespi & Hardt cut Skechers U.S.A. from a "strong-buy" rating to a "hold" rating in a report on Wednesday, May 7th. One investment analyst has rated the stock with a sell rating, eight have given a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of "Hold" and a consensus price target of $67.69.

Skechers U.S.A. Trading Down 0.0%

Shares of SKX stock traded down $0.02 during trading hours on Friday, reaching $63.14. The company's stock had a trading volume of 1,201,528 shares, compared to its average volume of 3,553,622. The stock has a market capitalization of $9.44 billion, a P/E ratio of 15.18 and a beta of 1.12. Skechers U.S.A., Inc. has a one year low of $44.50 and a one year high of $78.85. The firm's fifty day simple moving average is $62.12 and its 200 day simple moving average is $61.47. 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 quarterly earnings data on Thursday, April 24th. The textile maker reported $1.34 earnings per share for the quarter, topping analysts' consensus estimates of $1.17 by $0.17. The firm had revenue of $2.41 billion for 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 business's quarterly revenue was up 7.1% compared to the same quarter last year. During the same period last year, the company earned $1.33 EPS. Equities research analysts expect that Skechers U.S.A., Inc. will post 4.47 EPS for the current 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.