State of New Jersey Common Pension Fund D Has $2.99 Million Stock Position in Skechers U.S.A., Inc. (NYSE:SKX)

State of New Jersey Common Pension Fund D lowered its stake in Skechers U.S.A., Inc. (NYSE:SKX) by 3.9% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 44,439 shares of the textile maker’s stock after selling 1,816 shares during the period. State of New Jersey Common Pension Fund D’s holdings in Skechers U.S.A. were worth $2,988,000 as of its most recent filing with the SEC.

A number of other hedge funds also recently modified their holdings of SKX. UMB Bank n.a. increased its position in shares of Skechers U.S.A. by 53.1% in the fourth quarter. UMB Bank n.a. now owns 689 shares of the textile maker’s stock worth $46,000 after purchasing an additional 239 shares during the period. Venturi Wealth Management LLC increased its position in shares of Skechers U.S.A. by 52.9% in the third quarter. Venturi Wealth Management LLC now owns 864 shares of the textile maker’s stock worth $58,000 after purchasing an additional 299 shares during the period. Mirae Asset Global Investments Co. Ltd. bought a new position in shares of Skechers U.S.A. in the fourth quarter worth $65,000. Brooklyn Investment Group bought a new position in shares of Skechers U.S.A. in the third quarter worth $67,000. Finally, Blue Trust Inc. increased its position in shares of Skechers U.S.A. by 778.1% in the third quarter. Blue Trust Inc. now owns 1,001 shares of the textile maker’s stock worth $69,000 after purchasing an additional 887 shares during the period. Institutional investors own 79.96% of the company’s stock.

Insider Buying and Selling at Skechers U.S.A.

In related news, President Michael Greenberg sold 10,274 shares of the firm’s stock in a transaction dated Tuesday, December 31st. The shares were sold at an average price of $67.48, for a total value of $693,289.52. Following the completion of the sale, the president now owns 149,327 shares in the company, valued at $10,076,585.96. This trade represents a 6.44 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, COO David Weinberg sold 8,219 shares of the firm’s stock in a transaction dated Tuesday, December 31st. The shares were sold at an average price of $67.48, for a total transaction of $554,618.12. Following the completion of the sale, the chief operating officer now owns 122,211 shares of the company’s stock, valued at approximately $8,246,798.28. The trade was a 6.30 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 119,139 shares of company stock worth $7,600,899 over the last 90 days. Corporate insiders own 24.75% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on SKX. Evercore ISI raised their price target on Skechers U.S.A. from $72.00 to $85.00 and gave the stock an “outperform” rating in a research report on Tuesday, January 28th. UBS Group decreased their target price on Skechers U.S.A. from $92.00 to $90.00 and set a “buy” rating on the stock in a research report on Friday, February 7th. Piper Sandler assumed coverage on Skechers U.S.A. in a report on Tuesday, December 10th. They set a “neutral” rating and a $65.00 price target on the stock. StockNews.com lowered Skechers U.S.A. from a “buy” rating to a “hold” rating in a research note on Monday, February 10th. Finally, TD Cowen boosted their price target on Skechers U.S.A. from $88.00 to $93.00 and gave the company a “buy” rating in a research note on Wednesday, January 8th. Three equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $81.25.

Skechers U.S.A. Stock Down 0.4 %

Shares of NYSE:SKX opened at $65.70 on Friday. Skechers U.S.A., Inc. has a 12-month low of $55.67 and a 12-month high of $78.85. The stock has a fifty day simple moving average of $69.69 and a two-hundred day simple moving average of $66.53. The company has a current ratio of 1.97, a quick ratio of 1.12 and a debt-to-equity ratio of 0.01. The stock has a market capitalization of $9.92 billion, a price-to-earnings ratio of 15.83, a PEG ratio of 1.13 and a beta of 1.19.

Skechers U.S.A. (NYSE:SKX) last posted its quarterly earnings data on Thursday, February 6th. The textile maker reported $0.65 EPS for the quarter, missing the consensus estimate of $0.73 by ($0.08). Skechers U.S.A. had a return on equity of 13.73% and a net margin of 7.13%. On average, research analysts anticipate that Skechers U.S.A., Inc. will post 4.47 earnings per share for the current fiscal year.

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.