Skechers U.S.A., Inc. (NYSE:SKX) Shares Bought by Teacher Retirement System of Texas

Teacher Retirement System of Texas grew its holdings in Skechers U.S.A., Inc. (NYSE:SKX) by 8.6% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 57,926 shares of the textile maker’s stock after buying an additional 4,599 shares during the quarter. Teacher Retirement System of Texas’ holdings in Skechers U.S.A. were worth $3,895,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently bought and sold shares of SKX. UMB Bank n.a. lifted its holdings in 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 valued at $46,000 after acquiring an additional 239 shares during the period. IFP Advisors Inc lifted its stake in shares of Skechers U.S.A. by 62.4% in the fourth quarter. IFP Advisors Inc now owns 825 shares of the textile maker’s stock valued at $55,000 after purchasing an additional 317 shares during the period. Mirae Asset Global Investments Co. Ltd. purchased a new stake in Skechers U.S.A. during the fourth quarter worth about $65,000. Brooklyn Investment Group acquired a new position in Skechers U.S.A. during the third quarter worth about $67,000. Finally, Blue Trust Inc. increased its holdings in Skechers U.S.A. by 20.7% in the fourth quarter. Blue Trust Inc. now owns 1,208 shares of the textile maker’s stock valued at $81,000 after buying an additional 207 shares in the last quarter. Institutional investors and hedge funds own 79.96% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have recently commented on SKX. Evercore ISI boosted their price target on Skechers U.S.A. from $72.00 to $85.00 and gave the stock an “outperform” rating in a research note 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. Raymond James cut their price target on Skechers U.S.A. from $80.00 to $75.00 and set an “outperform” rating for the company in a research note on Friday, February 7th. StockNews.com lowered shares of Skechers U.S.A. from a “buy” rating to a “hold” rating in a research report on Monday, February 10th. Finally, Barclays dropped their target price on shares of Skechers U.S.A. from $80.00 to $77.00 and set an “overweight” rating for the company in a report on Monday, February 10th. Three analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to data from MarketBeat.com, Skechers U.S.A. currently has an average rating of “Moderate Buy” and an average price target of $80.42.

Skechers U.S.A. Stock Performance

NYSE:SKX opened at $58.42 on Tuesday. The company has a debt-to-equity ratio of 0.01, a current ratio of 1.97 and a quick ratio of 1.12. The firm has a market cap of $8.73 billion, a PE ratio of 14.08, a P/E/G ratio of 1.11 and a beta of 1.21. The firm has a 50 day simple moving average of $65.30 and a 200-day simple moving average of $65.44. Skechers U.S.A., Inc. has a 1-year low of $53.79 and a 1-year high of $78.85.

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

Insider Buying and Selling

In other news, President Michael Greenberg sold 10,274 shares of the company’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 $693,289.52. Following the completion of the transaction, the president now owns 149,327 shares of the company’s stock, valued at $10,076,585.96. This represents a 6.44 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Robert Greenberg sold 52,600 shares of the firm’s stock in a transaction that occurred on Wednesday, February 12th. The stock was sold at an average price of $62.72, for a total transaction of $3,299,072.00. Following the completion of the sale, the chief executive officer now directly owns 61,367 shares in the company, valued at $3,848,938.24. This represents a 46.15 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 236,738 shares of company stock worth $14,700,809. 24.75% of the stock is owned by company 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.