Skechers U.S.A., Inc. (NYSE:SKX) Holdings Lowered by State of New Jersey Common Pension Fund D

State of New Jersey Common Pension Fund D reduced its holdings in Skechers U.S.A., Inc. (NYSE:SKX) by 3.2% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 67,718 shares of the textile maker’s stock after selling 2,270 shares during the quarter. State of New Jersey Common Pension Fund D’s holdings in Skechers U.S.A. were worth $4,222,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also made changes to their positions in SKX. Pacer Advisors Inc. raised its holdings in shares of 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. Vaughan Nelson Investment Management L.P. increased its position in shares of Skechers U.S.A. by 371.8% in the fourth quarter. Vaughan Nelson Investment Management L.P. now owns 758,469 shares of the textile maker’s stock worth $47,282,000 after acquiring an additional 597,702 shares in the last quarter. AQR Capital Management LLC increased its position in shares of Skechers U.S.A. by 72.8% in the third quarter. AQR Capital Management LLC now owns 1,311,246 shares of the textile maker’s stock worth $64,185,000 after acquiring an additional 552,452 shares in the last quarter. Invesco Ltd. grew its position in Skechers U.S.A. by 138.2% during the third quarter. Invesco Ltd. now owns 770,710 shares of the textile maker’s stock valued at $37,726,000 after purchasing an additional 447,192 shares in the last quarter. Finally, Adams Diversified Equity Fund Inc. purchased a new position in Skechers U.S.A. during the third quarter valued at approximately $13,750,000. 79.96% of the stock is currently owned by institutional investors.

Skechers U.S.A. Stock Up 11.2 %

SKX opened at $65.39 on Friday. The firm’s 50-day simple moving average is $59.73 and its 200-day simple moving average is $58.04. The company has a debt-to-equity ratio of 0.06, a quick ratio of 1.46 and a current ratio of 2.38. Skechers U.S.A., Inc. has a twelve month low of $45.58 and a twelve month high of $69.07. The firm has a market cap of $10.02 billion, a price-to-earnings ratio of 17.21, a PEG ratio of 1.07 and a beta of 1.32.

Skechers U.S.A. (NYSE:SKX) last posted its earnings results on Thursday, April 25th. The textile maker reported $1.33 earnings per share for the quarter, topping the consensus estimate of $1.10 by $0.23. Skechers U.S.A. had a net margin of 7.17% and a return on equity of 13.76%. The business had revenue of $2.25 billion for the quarter, compared to analyst estimates of $2.20 billion. During the same quarter in the prior year, the firm earned $1.02 EPS. The firm’s quarterly revenue was up 12.5% compared to the same quarter last year. Equities research analysts anticipate that Skechers U.S.A., Inc. will post 3.81 EPS for the current fiscal year.

Insiders Place Their Bets

In other Skechers U.S.A. news, EVP Mark A. Nason sold 6,067 shares of the stock in a transaction dated Friday, March 15th. The shares were sold at an average price of $61.11, for a total transaction of $370,754.37. Following the sale, the executive vice president now owns 14,023 shares of the company’s stock, valued at approximately $856,945.53. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other Skechers U.S.A. news, COO David Weinberg sold 20,226 shares of the company’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 $1,236,010.86. Following the transaction, the chief operating officer now directly owns 99,655 shares in the company, valued at approximately $6,089,917.05. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, EVP Mark A. Nason sold 6,067 shares of the company’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 $370,754.37. Following the transaction, the executive vice president now owns 14,023 shares in the company, valued at $856,945.53. The disclosure for this sale can be found here. Insiders have sold a total of 254,875 shares of company stock valued at $15,021,192 in the last 90 days. 24.75% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on SKX shares. Wedbush boosted their price objective on shares of Skechers U.S.A. from $68.00 to $76.00 and gave the company an “outperform” rating in a research report on Friday. Barclays started coverage on shares of Skechers U.S.A. in a research report on Monday, April 1st. They issued an “overweight” rating and a $71.00 target price for the company. Monness Crespi & Hardt boosted their target price on shares of Skechers U.S.A. from $60.00 to $72.00 and gave the stock a “buy” rating in a research report on Thursday, January 18th. Bank of America started coverage on shares of Skechers U.S.A. in a research report on Friday, March 8th. They issued a “neutral” rating and a $67.00 target price for the company. Finally, TD Cowen boosted their target price on shares of Skechers U.S.A. from $70.00 to $74.00 and gave the stock a “buy” rating in a research report on Wednesday, March 6th. Two investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. According to data from MarketBeat, Skechers U.S.A. presently has a consensus rating of “Moderate Buy” and a consensus target price of $66.83.

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.