State Board of Administration of Florida Retirement System Sells 2,398 Shares of Skechers U.S.A., Inc. (NYSE:SKX)

State Board of Administration of Florida Retirement System lowered its position in shares of Skechers U.S.A., Inc. (NYSE:SKX) by 1.5% during the third quarter, Holdings Channel.com reports. The firm owned 158,660 shares of the textile maker’s stock after selling 2,398 shares during the quarter. State Board of Administration of Florida Retirement System’s holdings in Skechers U.S.A. were worth $6,683,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Spire Wealth Management increased its stake in shares of Skechers U.S.A. by 61.7% during the third quarter. Spire Wealth Management now owns 629 shares of the textile maker’s stock worth $26,000 after purchasing an additional 240 shares during the period. FORA Capital LLC acquired a new stake in Skechers U.S.A. during the second quarter worth approximately $155,000. Benjamin Edwards Inc. grew its position in Skechers U.S.A. by 14.1% during the third quarter. Benjamin Edwards Inc. now owns 3,689 shares of the textile maker’s stock worth $155,000 after buying an additional 455 shares in the last quarter. Advisory Services Network LLC acquired a new stake in Skechers U.S.A. during the second quarter worth approximately $181,000. Finally, Banque Cantonale Vaudoise acquired a new stake in Skechers U.S.A. during the third quarter worth approximately $196,000. Institutional investors own 80.05% of the company’s stock.

SKX has been the topic of a number of analyst reports. Williams Capital raised Skechers U.S.A. from a “hold” rating to a “buy” rating in a research report on Tuesday, October 19th. OTR Global downgraded Skechers U.S.A. from a “positive” rating to a “mixed” rating in a research report on Thursday. Wedbush raised Skechers U.S.A. from a “neutral” rating to an “outperform” rating and increased their price target for the stock from $47.00 to $54.00 in a research report on Tuesday, January 4th. Zacks Investment Research raised Skechers U.S.A. from a “sell” rating to a “hold” rating and set a $46.00 price target on the stock in a research report on Monday, January 3rd. Finally, Argus downgraded Skechers U.S.A. from a “buy” rating to a “hold” rating and set a $45.00 price target on the stock. in a research report on Tuesday, November 2nd. Three research analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Buy” and an average target price of $54.89.

Shares of SKX stock opened at $43.63 on Friday. The stock’s fifty day moving average price is $45.21 and its two-hundred day moving average price is $47.08. The company has a market cap of $6.80 billion, a PE ratio of 17.06 and a beta of 1.47. Skechers U.S.A., Inc. has a fifty-two week low of $33.80 and a fifty-two week high of $55.87. The company has a debt-to-equity ratio of 0.09, a quick ratio of 1.55 and a current ratio of 2.47.

Skechers U.S.A. (NYSE:SKX) last announced its quarterly earnings results on Thursday, October 28th. The textile maker reported $0.66 EPS for the quarter, missing the Zacks’ consensus estimate of $0.71 by ($0.05). Skechers U.S.A. had a net margin of 6.58% and a return on equity of 12.87%. The firm had revenue of $1.55 billion during the quarter, compared to the consensus estimate of $1.62 billion. During the same quarter in the previous year, the company posted $0.53 earnings per share. The firm’s revenue was up 19.2% on a year-over-year basis. On average, equities analysts predict that Skechers U.S.A., Inc. will post 2.48 EPS for the current fiscal year.

Skechers U.S.A. Profile

Skechers U.SA, Inc engages in designing, development, and marketing of lifestyle footwear for men, women, and children of all ages. It operates through the following segments: Domestic Wholesale, International Wholesale, and Direct-to-Consumer. The Domestic Wholesale segment distributes footwear through the local wholesale distribution channels including department stores, specialty stores, athletic specialty shoe stores and independent retailers, as well as catalog and internet retailers.

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

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