New York State Teachers Retirement System Has $9.12 Million Stake in Skechers U.S.A., Inc. (NYSE:SKX)

New York State Teachers Retirement System decreased its position in Skechers U.S.A., Inc. (NYSE:SKX) by 3.8% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 160,693 shares of the textile maker’s stock after selling 6,426 shares during the period. New York State Teachers Retirement System owned approximately 0.11% of Skechers U.S.A. worth $9,124,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also bought and sold shares of the company. NewEdge Advisors LLC lifted its holdings in Skechers U.S.A. by 85.2% in the fourth quarter. NewEdge Advisors LLC now owns 413 shares of the textile maker’s stock valued at $28,000 after buying an additional 190 shares during the period. TD Private Client Wealth LLC lifted its holdings in Skechers U.S.A. by 534.3% in the fourth quarter. TD Private Client Wealth LLC now owns 425 shares of the textile maker’s stock valued at $29,000 after buying an additional 358 shares during the period. Investment Management Corp VA ADV acquired a new position in Skechers U.S.A. in the fourth quarter valued at $32,000. Parallel Advisors LLC lifted its holdings in Skechers U.S.A. by 183.0% in the first quarter. Parallel Advisors LLC now owns 617 shares of the textile maker’s stock valued at $35,000 after buying an additional 399 shares during the period. Finally, Golden State Wealth Management LLC acquired a new position in Skechers U.S.A. in the first quarter valued at $35,000. Institutional investors and hedge funds own 79.96% of the company’s stock.

Skechers U.S.A. Trading Up 0.0%

SKX opened at $63.27 on Friday. The company has a debt-to-equity ratio of 0.02, a current ratio of 2.13 and a quick ratio of 1.28. Skechers U.S.A., Inc. has a fifty-two week low of $44.50 and a fifty-two week high of $78.85. The firm has a market capitalization of $9.47 billion, a PE ratio of 15.21 and a beta of 1.12. The company’s 50-day moving average is $60.91 and its 200 day moving average is $61.57.

Skechers U.S.A. (NYSE:SKX) last posted its earnings results 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. Skechers U.S.A. had a net margin of 6.96% and a return on equity of 13.34%. The company had revenue of $2.41 billion for the quarter, compared to analyst estimates of $2.43 billion. During the same quarter in the prior year, the business posted $1.33 EPS. The firm’s revenue was up 7.1% compared to the same quarter last year. As a group, research analysts predict that Skechers U.S.A., Inc. will post 4.47 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on the stock. Wall Street Zen assumed coverage on shares of Skechers U.S.A. in a research report on Thursday, May 22nd. They set a “sell” rating on the stock. Bank of America cut their price objective on shares of Skechers U.S.A. from $76.00 to $70.00 and set a “buy” rating on the stock in a research report on Monday, March 24th. UBS Group reissued a “neutral” rating and set a $63.00 price objective (down previously from $64.00) on shares of Skechers U.S.A. in a research report on Tuesday, May 6th. Evercore ISI cut their price objective on shares of Skechers U.S.A. from $78.00 to $60.00 and set an “outperform” rating on the stock in a research report on Thursday, April 17th. Finally, TD Cowen cut shares of Skechers U.S.A. from a “buy” rating to a “hold” rating and set a $63.00 price objective on the stock. in a research report on Wednesday, May 28th. One research analyst has rated the stock with a sell rating, eight have given a hold rating and six have given a buy rating to the company. According to data from MarketBeat.com, Skechers U.S.A. currently has an average rating of “Hold” and a consensus price target of $67.69.

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.