Teachers Retirement System of The State of Kentucky Grows Stock Position in Skechers U.S.A., Inc. (NYSE:SKX)

Teachers Retirement System of The State of Kentucky grew its holdings in Skechers U.S.A., Inc. (NYSE:SKX - Free Report) by 6.9% in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 342,121 shares of the textile maker's stock after buying 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 Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also recently modified their holdings of SKX. Vanguard Group Inc. grew its holdings in shares of Skechers U.S.A. by 0.7% during the 4th quarter. Vanguard Group Inc. now owns 12,544,233 shares of the textile maker's stock worth $843,474,000 after purchasing an additional 82,143 shares during the period. Victory Capital Management Inc. lifted its holdings in shares of Skechers U.S.A. by 15,774.3% in the 1st quarter. Victory Capital Management Inc. now owns 3,949,844 shares of the textile maker's stock worth $224,272,000 after acquiring an additional 3,924,962 shares during the last quarter. Anomaly Capital Management LP boosted its position in shares of 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 purchasing an additional 1,011,815 shares during the period. Bank of New York Mellon Corp increased its holdings in Skechers U.S.A. by 7.6% in the 1st quarter. Bank of New York Mellon Corp now owns 2,482,980 shares of the textile maker's stock valued at $140,984,000 after purchasing an additional 174,697 shares during the last quarter. Finally, Geode Capital Management LLC raised its position in Skechers U.S.A. by 3.5% in the fourth quarter. Geode Capital Management LLC now owns 2,294,976 shares of the textile maker's stock valued at $154,361,000 after purchasing an additional 78,071 shares during the period. 79.96% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on the stock. Wells Fargo & Company lifted their price objective on shares of Skechers U.S.A. from $57.00 to $63.00 and gave the company an "overweight" rating in a report on Tuesday, May 6th. 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 research note on Thursday, April 10th. TD Cowen lowered shares of Skechers U.S.A. from a "buy" rating to a "hold" rating and set a $63.00 target price on the stock. in a research note on Wednesday, May 28th. Morgan Stanley reissued an "equal weight" rating and issued a $63.00 price objective (down from $73.00) on shares of Skechers U.S.A. in a research report on Wednesday, May 7th. Finally, Evercore ISI decreased their price target on Skechers U.S.A. from $78.00 to $60.00 and set an "outperform" rating for the company in a report on Thursday, April 17th. One analyst has rated the stock with a sell rating, eight have given a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus target price of $67.69.

Skechers U.S.A. Stock Up 0.1%

SKX stock opened at $63.09 on Monday. 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 50 day moving average price of $62.56 and a two-hundred day moving average price of $61.20. The company has a debt-to-equity ratio of 0.02, a quick ratio of 1.28 and a current ratio of 2.13. The stock has a market capitalization of $9.44 billion, a P/E ratio of 15.17 and a beta of 1.12.

Skechers U.S.A. (NYSE:SKX - Get Free Report) last announced its quarterly earnings data on Thursday, April 24th. The textile maker reported $1.34 earnings per share for the quarter, topping the consensus estimate of $1.17 by $0.17. The business had revenue of $2.41 billion for the quarter, compared to analyst estimates of $2.43 billion. Skechers U.S.A. had a net margin of 6.96% and a return on equity of 13.34%. The company's revenue was up 7.1% on a year-over-year basis. During the same period in the prior year, the firm posted $1.33 EPS. As a group, sell-side 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.

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