California Public Employees Retirement System Has $16.23 Million Holdings in Skechers U.S.A., Inc. (NYSE:SKX)

California Public Employees Retirement System trimmed its holdings in Skechers U.S.A., Inc. (NYSE:SKX) by 1.7% in the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 260,269 shares of the textile maker’s stock after selling 4,470 shares during the period. California Public Employees Retirement System’s holdings in Skechers U.S.A. were worth $16,225,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Huntington National Bank raised its stake in Skechers U.S.A. by 861.7% in the 3rd quarter. Huntington National Bank now owns 577 shares of the textile maker’s stock valued at $28,000 after acquiring an additional 517 shares during the period. DekaBank Deutsche Girozentrale bought a new position in shares of Skechers U.S.A. in the third quarter valued at about $31,000. Planned Solutions Inc. bought a new position in shares of Skechers U.S.A. in the fourth quarter valued at about $70,000. Meeder Asset Management Inc. acquired a new stake in shares of Skechers U.S.A. during the 4th quarter worth about $77,000. Finally, Intact Investment Management Inc. bought a new stake in shares of Skechers U.S.A. during the 3rd quarter worth about $176,000. 79.96% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

SKX has been the topic of several research analyst reports. Monness Crespi & Hardt raised their price objective 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. Wedbush lifted their price target on Skechers U.S.A. from $68.00 to $76.00 and gave the stock an “outperform” rating in a report on Friday. TD Cowen boosted their price target on Skechers U.S.A. from $70.00 to $74.00 and gave the company a “buy” rating in a research note on Wednesday, March 6th. Evercore ISI lowered their price objective on Skechers U.S.A. from $73.00 to $68.00 and set an “outperform” rating on the stock in a research report on Wednesday, April 17th. Finally, Barclays initiated 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. Two investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $66.83.

Skechers U.S.A. Trading Up 1.2 %

SKX opened at $66.18 on Tuesday. The stock has a market capitalization of $10.14 billion, a price-to-earnings ratio of 17.42, a P/E/G ratio of 1.12 and a beta of 1.32. The company has a quick ratio of 1.56, a current ratio of 2.39 and a debt-to-equity ratio of 0.02. Skechers U.S.A., Inc. has a twelve month low of $45.58 and a twelve month high of $69.07. The company has a 50-day simple moving average of $59.86 and a 200 day simple moving average of $58.30.

Skechers U.S.A. (NYSE:SKX) last issued its earnings results on Thursday, April 25th. The textile maker reported $1.33 EPS for the quarter, beating the consensus estimate of $1.10 by $0.23. The company had revenue of $2.25 billion during the quarter, compared to analysts’ expectations of $2.20 billion. Skechers U.S.A. had a net margin of 7.17% and a return on equity of 13.56%. The business’s revenue for the quarter was up 12.5% compared to the same quarter last year. During the same period in the previous year, the company earned $1.02 EPS. Analysts predict that Skechers U.S.A., Inc. will post 4.06 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, CEO Robert Greenberg sold 30,339 shares of Skechers U.S.A. stock in a transaction on Friday, March 15th. The stock was sold at an average price of $61.11, for a total value of $1,854,016.29. Following the transaction, the chief executive officer now owns 132,783 shares in the company, valued at approximately $8,114,369.13. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In related news, COO David Weinberg sold 67,390 shares of the company’s stock in a transaction that occurred on Thursday, February 8th. The shares were sold at an average price of $57.87, for a total transaction of $3,899,859.30. Following the completion of the transaction, the chief operating officer now directly owns 141,405 shares in the company, valued at approximately $8,183,107.35. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Robert Greenberg sold 30,339 shares of the stock in a transaction that occurred on Friday, March 15th. The shares were sold at an average price of $61.11, for a total transaction of $1,854,016.29. Following the completion of the transaction, the chief executive officer now directly owns 132,783 shares of the company’s stock, valued at approximately $8,114,369.13. The disclosure for this sale can be found here. Insiders sold 254,875 shares of company stock worth $15,021,192 over the last three months. Insiders own 24.75% of the company’s stock.

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.