Teachers Retirement System of The State of Kentucky Buys 22,000 Shares of Skechers U.S.A., Inc. (NYSE:SKX)

Teachers Retirement System of The State of Kentucky lifted its holdings in shares of Skechers U.S.A., Inc. (NYSE:SKX - Free Report) by 6.9% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 342,121 shares of the textile maker's stock after purchasing an additional 22,000 shares during the period. Teachers Retirement System of The State of Kentucky owned 0.23% of Skechers U.S.A. worth $19,426,000 as of its most recent filing with the SEC.

Other hedge funds also recently modified their holdings of the company. NewEdge Advisors LLC lifted 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 during the period. TD Private Client Wealth LLC boosted its stake in Skechers U.S.A. by 534.3% during the fourth quarter. TD Private Client Wealth LLC now owns 425 shares of the textile maker's stock worth $29,000 after acquiring an additional 358 shares in the last quarter. Investment Management Corp VA ADV acquired a new position in shares of Skechers U.S.A. during the fourth quarter valued at about $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 purchasing an additional 399 shares during the period. Finally, Golden State Wealth Management LLC acquired a new position in shares of Skechers U.S.A. during the first quarter valued at about $35,000. Institutional investors and hedge funds own 79.96% of the company's stock.

Wall Street Analysts Forecast Growth

SKX has been the subject of several recent research reports. Needham & Company LLC reissued a "hold" rating on shares of Skechers U.S.A. in a research report on Tuesday, April 22nd. UBS Group reaffirmed a "neutral" rating and issued a $63.00 price objective (down from $64.00) on shares of Skechers U.S.A. in a research report on Tuesday, May 6th. Monness Crespi & Hardt lowered shares of Skechers U.S.A. from a "strong-buy" rating to a "hold" rating in a research note on Wednesday, May 7th. TD Cowen cut shares of Skechers U.S.A. from a "buy" rating to a "hold" rating and set a $63.00 price target on the stock. in a report on Wednesday, May 28th. Finally, Stifel Nicolaus lowered their price target on shares of Skechers U.S.A. from $80.00 to $62.00 and set a "buy" rating on the stock in a report on Thursday, April 10th. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus price target of $67.69.

Skechers U.S.A. Trading Down 0.1%

NYSE:SKX traded down $0.09 during trading hours on Thursday, reaching $63.15. The company's stock had a trading volume of 732,274 shares, compared to its average volume of 4,776,251. The firm has a market capitalization of $9.45 billion, a price-to-earnings ratio of 15.18 and a beta of 1.12. The firm has a 50-day simple moving average of $62.62 and a 200-day simple moving average of $61.19. Skechers U.S.A., Inc. has a 1 year low of $44.50 and a 1 year high of $78.85. The company has a debt-to-equity ratio of 0.02, a quick ratio of 1.28 and a current ratio of 2.13.

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, topping analysts' consensus estimates of $1.17 by $0.17. The company had revenue of $2.41 billion for the quarter, compared to analysts' expectations of $2.43 billion. Skechers U.S.A. had a net margin of 6.96% and a return on equity of 13.34%. The firm's 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 expect that Skechers U.S.A., Inc. will post 4.47 EPS for the current fiscal 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.