Louisiana State Employees Retirement System Purchases New Holdings in Skechers U.S.A., Inc. (NYSE:SKX)

Louisiana State Employees Retirement System purchased a new stake in shares of Skechers U.S.A., Inc. (NYSE:SKX) during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 37,500 shares of the textile maker’s stock, valued at approximately $2,338,000.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in SKX. Friedenthal Financial bought a new stake in shares of Skechers U.S.A. in the 4th quarter valued at approximately $702,000. Allspring Global Investments Holdings LLC grew its stake in shares of Skechers U.S.A. by 4.9% in the 4th quarter. Allspring Global Investments Holdings LLC now owns 28,675 shares of the textile maker’s stock valued at $1,788,000 after purchasing an additional 1,338 shares during the period. International Assets Investment Management LLC grew its stake in shares of Skechers U.S.A. by 13,753.3% in the 4th quarter. International Assets Investment Management LLC now owns 12,468 shares of the textile maker’s stock valued at $777,000 after purchasing an additional 12,378 shares during the period. Meeder Asset Management Inc. bought a new stake in shares of Skechers U.S.A. in the 4th quarter valued at approximately $77,000. Finally, Tamar Securities LLC bought a new stake in shares of Skechers U.S.A. in the 4th quarter valued at approximately $401,000. 79.96% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on SKX. Bank of America initiated coverage on Skechers U.S.A. in a research note on Friday, March 8th. They issued a “neutral” rating and a $67.00 price objective on the stock. Barclays initiated coverage on Skechers U.S.A. in a report on Monday, April 1st. They issued an “overweight” rating and a $71.00 target price on the stock. Wedbush reduced their target price on Skechers U.S.A. from $75.00 to $68.00 and set an “outperform” rating on the stock in a report on Friday, February 2nd. Monness Crespi & Hardt boosted their target price on Skechers U.S.A. from $60.00 to $72.00 and gave the stock a “buy” rating in a report on Thursday, January 18th. Finally, Raymond James reduced their target price on Skechers U.S.A. from $68.00 to $66.00 and set an “outperform” rating on the stock in a report on Monday, February 5th. Two analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. According to data from MarketBeat.com, Skechers U.S.A. presently has a consensus rating of “Moderate Buy” and a consensus target price of $66.58.

Skechers U.S.A. Stock Performance

Shares of Skechers U.S.A. stock opened at $57.40 on Wednesday. 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 52 week low of $45.58 and a 52 week high of $65.17. The firm has a fifty day moving average of $59.75 and a two-hundred day moving average of $57.59. The stock has a market capitalization of $8.80 billion, a price-to-earnings ratio of 16.45, a PEG ratio of 1.02 and a beta of 1.32.

Skechers U.S.A. (NYSE:SKX) last released its quarterly earnings data on Thursday, February 1st. The textile maker reported $0.56 EPS for the quarter, beating analysts’ consensus estimates of $0.52 by $0.04. Skechers U.S.A. had a net margin of 6.82% and a return on equity of 12.89%. The business had revenue of $1.96 billion during the quarter, compared to analysts’ expectations of $2.03 billion. During the same quarter in the prior year, the company earned $0.48 EPS. The firm’s quarterly revenue was up 4.4% on a year-over-year basis. As a group, equities research analysts predict that Skechers U.S.A., Inc. will post 3.82 EPS for the current year.

Insider Activity at Skechers U.S.A.

In related news, CEO Robert Greenberg sold 99,139 shares of the company’s stock in a transaction on Thursday, February 8th. The shares were sold at an average price of $57.87, for a total value of $5,737,173.93. Following the completion of the sale, the chief executive officer now owns 196,050 shares in the company, valued at approximately $11,345,413.50. The transaction was disclosed in a filing with the SEC, which is available through this link. In related news, CEO Robert Greenberg sold 99,139 shares of the company’s stock in a transaction on Thursday, February 8th. The shares were sold at an average price of $57.87, for a total value of $5,737,173.93. Following the completion of the sale, the chief executive officer now owns 196,050 shares in the company, valued at approximately $11,345,413.50. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, President Michael Greenberg sold 25,282 shares of the stock in a transaction dated Friday, March 15th. The stock was sold at an average price of $61.11, for a total value of $1,544,983.02. Following the transaction, the president now owns 123,441 shares of the company’s stock, valued at approximately $7,543,479.51. The disclosure for this sale can be found here. Insiders sold a total of 254,875 shares of company stock worth $15,021,192 in the last quarter. Corporate insiders own 24.79% of the company’s stock.

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.