Louisiana State Employees Retirement System Lowers Stake in Skechers U.S.A., Inc. $SKX

Louisiana State Employees Retirement System lowered its position in shares of Skechers U.S.A., Inc. (NYSE:SKX) by 0.5% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 36,700 shares of the textile maker’s stock after selling 200 shares during the quarter. Louisiana State Employees Retirement System’s holdings in Skechers U.S.A. were worth $2,316,000 as of its most recent SEC filing.

Several other large investors have also added to or reduced their stakes in the company. Victory Capital Management Inc. lifted its holdings in Skechers U.S.A. by 15,774.3% during the first quarter. Victory Capital Management Inc. now owns 3,949,844 shares of the textile maker’s stock valued at $224,272,000 after purchasing an additional 3,924,962 shares in the last quarter. Fiduciary Management Inc. WI lifted its holdings in Skechers U.S.A. by 12.9% during the first quarter. Fiduciary Management Inc. WI now owns 2,833,785 shares of the textile maker’s stock valued at $160,902,000 after purchasing an additional 324,007 shares in the last quarter. Dimensional Fund Advisors LP lifted its holdings in Skechers U.S.A. by 26.4% during the first quarter. Dimensional Fund Advisors LP now owns 2,795,753 shares of the textile maker’s stock valued at $158,739,000 after purchasing an additional 583,733 shares in the last quarter. Bank of New York Mellon Corp lifted its holdings in Skechers U.S.A. by 7.6% during the first quarter. Bank of New York Mellon Corp now owns 2,482,980 shares of the textile maker’s stock valued at $140,984,000 after purchasing an additional 174,697 shares in the last quarter. Finally, Coronation Fund Managers Ltd. lifted its holdings in Skechers U.S.A. by 212.0% during the first quarter. Coronation Fund Managers Ltd. now owns 797,248 shares of the textile maker’s stock valued at $45,268,000 after purchasing an additional 541,691 shares in the last quarter. Hedge funds and other institutional investors own 79.96% of the company’s stock.

Skechers U.S.A. Stock Performance

Shares of SKX opened at $63.13 on Friday. The company’s fifty day moving average is $63.10 and its 200 day moving average is $60.19. Skechers U.S.A., Inc. has a fifty-two week low of $44.50 and a fifty-two week high of $78.85. The stock has a market capitalization of $9.49 billion, a PE ratio of 14.41 and a beta of 1.19. The company has a debt-to-equity ratio of 0.02, a quick ratio of 1.29 and a current ratio of 2.09.

Skechers U.S.A. (NYSE:SKX) last announced its quarterly earnings results on Friday, August 8th. The textile maker reported $1.13 earnings per share for the quarter, topping the consensus estimate of $0.86 by $0.27. Skechers U.S.A. had a net margin of 7.07% and a return on equity of 13.44%. The company had revenue of $2.44 billion for the quarter, compared to analysts’ expectations of $2.35 billion. During the same quarter in the previous year, the business posted $0.91 earnings per share. Skechers U.S.A.’s quarterly revenue was up 13.1% on a year-over-year basis. Sell-side analysts expect that Skechers U.S.A., Inc. will post 4.47 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on the stock. Zacks Research raised shares of Skechers U.S.A. from a “hold” rating to a “strong-buy” rating in a report on Tuesday, August 26th. Argus downgraded shares of Skechers U.S.A. from a “buy” rating to a “hold” rating and set a $63.00 target price on the stock. in a report on Tuesday, August 26th. Needham & Company LLC reissued a “hold” rating on shares of Skechers U.S.A. in a report on Wednesday, August 27th. Finally, Wall Street Zen raised shares of Skechers U.S.A. to a “hold” rating in a report on Saturday, August 30th. One investment analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and nine have assigned a Hold rating to the stock. According to MarketBeat, the company has an average rating of “Hold” and an average target price of $66.46.

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.