California Public Employees Retirement System Cuts Holdings in Skechers U.S.A., Inc. (NYSE:SKX)

California Public Employees Retirement System trimmed its holdings in shares of Skechers U.S.A., Inc. (NYSE:SKXGet Rating) by 7.2% during the 2nd quarter, HoldingsChannel.com reports. The firm owned 253,304 shares of the textile maker’s stock after selling 19,591 shares during the quarter. California Public Employees Retirement System’s holdings in Skechers U.S.A. were worth $9,013,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in the business. Prospera Financial Services Inc bought a new position in shares of Skechers U.S.A. during the 1st quarter valued at $34,000. Trust Co. of Vermont bought a new position in shares of Skechers U.S.A. during the 2nd quarter valued at $37,000. Oliver Lagore Vanvalin Investment Group bought a new position in shares of Skechers U.S.A. during the 1st quarter valued at $49,000. Covestor Ltd lifted its holdings in shares of Skechers U.S.A. by 88.9% during the 1st quarter. Covestor Ltd now owns 1,360 shares of the textile maker’s stock valued at $55,000 after buying an additional 640 shares during the period. Finally, SeaCrest Wealth Management LLC bought a new position in shares of Skechers U.S.A. during the 2nd quarter valued at $60,000. 81.64% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities analysts have recently weighed in on the company. Argus cut Skechers U.S.A. from a “buy” rating to a “hold” rating in a report on Tuesday, November 1st. Morgan Stanley lowered their price target on Skechers U.S.A. from $59.00 to $54.00 and set an “overweight” rating on the stock in a report on Wednesday, October 26th. Monness Crespi & Hardt lowered their price target on Skechers U.S.A. to $50.00 and set an “outperform” rating on the stock in a report on Wednesday, July 27th. Raymond James assumed coverage on Skechers U.S.A. in a report on Wednesday, October 12th. They set an “outperform” rating and a $40.00 price target on the stock. Finally, Deutsche Bank Aktiengesellschaft decreased their target price on Skechers U.S.A. from $51.00 to $50.00 and set a “buy” rating on the stock in a report on Monday, October 24th. Two investment analysts have rated the stock with a hold rating and eight 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 an average price target of $48.00.

Skechers U.S.A. Price Performance

Shares of Skechers U.S.A. stock opened at $40.14 on Wednesday. Skechers U.S.A., Inc. has a one year low of $31.28 and a one year high of $49.89. The company has a debt-to-equity ratio of 0.06, a quick ratio of 1.14 and a current ratio of 2.27. The stock has a market cap of $6.23 billion, a P/E ratio of 9.00 and a beta of 1.28. The stock’s fifty day moving average is $35.58 and its 200 day moving average is $37.09.

Skechers U.S.A. (NYSE:SKXGet Rating) last issued its quarterly earnings results on Tuesday, October 25th. The textile maker reported $0.55 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.74 by ($0.19). Skechers U.S.A. had a return on equity of 10.03% and a net margin of 9.70%. The business had revenue of $1.88 billion during the quarter, compared to analysts’ expectations of $1.84 billion. Sell-side analysts anticipate that Skechers U.S.A., Inc. will post 2.25 earnings per share for the current year.

Insiders Place Their Bets

In other Skechers U.S.A. news, Director Katherine J. Blair sold 1,500 shares of the stock in a transaction on Tuesday, November 1st. The stock was sold at an average price of $35.16, for a total value of $52,740.00. Following the completion of the sale, the director now owns 10,500 shares in the company, valued at approximately $369,180. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 24.44% of the stock is currently owned by company insiders.

About Skechers U.S.A.

(Get Rating)

Skechers U.SA, Inc designs, develops, markets, and distributes footwear for men, women, and children; and performance footwear for men and women worldwide. The company operates through three segments: Domestic Wholesale, International Wholesale, and Direct-to-Consumer. It offers casual, casual athletic, sport athletic, trail, sandals, boots, and retro fashion footwear for men and women under the Skechers USA, Skechers Sport, Skechers Active, Modern Comfort, Skechers Street, Mark Nason, and BOBS brands; sneakers, casuals, boots, and sandals for boys and girls under the Skechers Mega-Craft, S-Lights, SKECH-AIR, Foamies, Twinkle Toes, Z-Strap, Skechers Stretch Fit, and Skechers Street brands; and technical footwear under the Skechers GOrun, Skechers GOwalk, Skechers GOtrain, Skechers GOtrail, and Skechers GO Golf brands.

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Institutional Ownership by Quarter for Skechers U.S.A. (NYSE:SKX)

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