New York State Teachers Retirement System Trims Holdings in Skechers U.S.A., Inc. (NYSE:SKX)

New York State Teachers Retirement System lowered its position in Skechers U.S.A., Inc. (NYSE:SKX - Free Report) by 8.2% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 195,304 shares of the textile maker's stock after selling 17,493 shares during the period. New York State Teachers Retirement System owned approximately 0.13% of Skechers U.S.A. worth $12,175,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently modified their holdings of SKX. Goldman Sachs Group Inc. boosted its stake in Skechers U.S.A. by 705.1% in the 2nd quarter. Goldman Sachs Group Inc. now owns 2,135,092 shares of the textile maker's stock worth $112,434,000 after purchasing an additional 1,869,889 shares in the last quarter. Pacer Advisors Inc. boosted its stake in Skechers U.S.A. by 6,521.5% in the 4th quarter. Pacer Advisors Inc. now owns 1,456,599 shares of the textile maker's stock worth $90,804,000 after purchasing an additional 1,434,601 shares in the last quarter. Arrowstreet Capital Limited Partnership boosted its stake in Skechers U.S.A. by 757.6% in the 1st quarter. Arrowstreet Capital Limited Partnership now owns 1,543,936 shares of the textile maker's stock worth $73,368,000 after purchasing an additional 1,363,908 shares in the last quarter. Norges Bank acquired a new stake in Skechers U.S.A. during the 4th quarter valued at approximately $36,184,000. Finally, Schonfeld Strategic Advisors LLC lifted its stake in Skechers U.S.A. by 1,102.1% during the 4th quarter. Schonfeld Strategic Advisors LLC now owns 905,292 shares of the textile maker's stock valued at $37,977,000 after acquiring an additional 829,982 shares during the period. Hedge funds and other institutional investors own 79.96% of the company's stock.

Skechers U.S.A. Price Performance

NYSE SKX traded down $0.97 on Wednesday, hitting $57.18. The company had a trading volume of 1,773,236 shares, compared to its average volume of 1,579,624. The company has a market capitalization of $8.76 billion, a PE ratio of 16.38, a PEG ratio of 1.05 and a beta of 1.32. The company's fifty day moving average price is $59.94 and its 200-day moving average price is $57.27. The company has a debt-to-equity ratio of 0.06, a current ratio of 2.38 and a quick ratio of 1.46. Skechers U.S.A., Inc. has a 12-month low of $45.58 and a 12-month high of $65.17.

Skechers U.S.A. (NYSE:SKX - Get Free Report) last released its earnings results on Thursday, February 1st. The textile maker reported $0.56 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.52 by $0.04. Skechers U.S.A. had a net margin of 6.82% and a return on equity of 12.89%. The business had revenue of $1.96 billion during the quarter, compared to analyst estimates of $2.03 billion. During the same quarter in the prior year, the firm earned $0.48 earnings per share. The company's revenue for the quarter was up 4.4% compared to the same quarter last year. As a group, analysts predict that Skechers U.S.A., Inc. will post 3.82 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several analysts have commented on the stock. Barclays assumed coverage on shares of Skechers U.S.A. in a research note on Monday, April 1st. They set an "overweight" rating and a $71.00 price objective for the company. Stifel Nicolaus decreased their price objective on shares of Skechers U.S.A. from $72.00 to $70.00 and set a "buy" rating for the company in a research note on Friday, February 2nd. Bank of America initiated coverage on shares of Skechers U.S.A. in a research note on Friday, March 8th. They set a "neutral" rating and a $67.00 price objective for the company. TD Cowen boosted their target price on shares of Skechers U.S.A. from $70.00 to $74.00 and gave the company a "buy" rating in a research note on Wednesday, March 6th. Finally, Evercore ISI initiated coverage on shares of Skechers U.S.A. in a research note on Thursday, February 15th. They issued an "outperform" rating and a $73.00 target price for the company. Two analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $66.58.

Insider Transactions at Skechers U.S.A.

In other news, CEO Robert Greenberg sold 30,339 shares of the company's stock in a transaction on Friday, March 15th. The shares were sold at an average price of $61.11, for a total transaction of $1,854,016.29. Following the completion of the sale, the chief executive officer now owns 132,783 shares of the company's stock, valued at $8,114,369.13. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In other news, CEO Robert Greenberg sold 30,339 shares of the company's stock in a transaction on Friday, March 15th. The shares were sold at an average price of $61.11, for a total transaction of $1,854,016.29. Following the completion of the sale, the chief executive officer now owns 132,783 shares of the company's stock, valued at $8,114,369.13. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, President Michael Greenberg sold 25,282 shares of the business's stock in a transaction dated Friday, March 15th. The shares were sold at an average price of $61.11, for a total transaction of $1,544,983.02. Following the transaction, the president now directly owns 123,441 shares in the company, valued at approximately $7,543,479.51. The disclosure for this sale can be found here. Insiders sold 254,875 shares of company stock valued at $15,021,192 over the last 90 days. 24.79% of the stock is currently owned by corporate insiders.

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.