State of New Jersey Common Pension Fund D Sells 2,270 Shares of Skechers U.S.A., Inc. (NYSE:SKX)

State of New Jersey Common Pension Fund D trimmed its stake in shares of Skechers U.S.A., Inc. (NYSE:SKX) by 3.2% during the 4th quarter, Holdings Channel.com reports. The fund owned 67,718 shares of the textile maker’s stock after selling 2,270 shares during the quarter. State of New Jersey Common Pension Fund D’s holdings in Skechers U.S.A. were worth $4,222,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also bought and sold shares of the stock. GAMMA Investing LLC bought a new stake in shares of Skechers U.S.A. in the 4th quarter worth approximately $36,000. Huntington National Bank lifted its stake in shares of Skechers U.S.A. by 861.7% in the third quarter. Huntington National Bank now owns 577 shares of the textile maker’s stock worth $28,000 after buying an additional 517 shares in the last quarter. DekaBank Deutsche Girozentrale purchased a new stake in shares of Skechers U.S.A. during the third quarter valued at approximately $31,000. Planned Solutions Inc. bought a new stake in shares of Skechers U.S.A. during the fourth quarter valued at approximately $70,000. Finally, Meeder Asset Management Inc. purchased a new position in Skechers U.S.A. in the 4th quarter worth approximately $77,000. 79.96% of the stock is currently owned by institutional investors.

Insider Transactions at Skechers U.S.A.

In other news, CEO Robert Greenberg sold 99,139 shares of the company’s stock in a transaction on Thursday, February 8th. The stock was 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 directly owns 196,050 shares in the company, valued at approximately $11,345,413.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other Skechers U.S.A. news, EVP Mark A. Nason sold 6,432 shares of the stock in a transaction on Friday, February 9th. The stock was sold at an average price of $58.83, for a total value of $378,394.56. Following the completion of the sale, the executive vice president now owns 34,023 shares in the company, valued at approximately $2,001,573.09. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Robert Greenberg sold 99,139 shares of the stock in a transaction on Thursday, February 8th. The stock was 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 of the company’s stock, valued at approximately $11,345,413.50. The disclosure for this sale can be found here. Insiders sold 254,875 shares of company stock worth $15,021,192 in the last three months. Corporate insiders own 24.75% of the company’s stock.

Skechers U.S.A. Price Performance

NYSE SKX opened at $65.39 on Friday. The business’s fifty day moving average price is $59.73 and its 200-day moving average price is $58.04. The stock has a market capitalization of $10.02 billion, a price-to-earnings ratio of 17.21, a PEG ratio of 1.07 and a beta of 1.32. The company has a debt-to-equity ratio of 0.06, a current ratio of 2.38 and a quick ratio of 1.46. Skechers U.S.A., Inc. has a 1-year low of $45.58 and a 1-year high of $69.07.

Skechers U.S.A. (NYSE:SKX) last posted its quarterly earnings data on Thursday, April 25th. The textile maker reported $1.33 EPS for the quarter, topping the consensus estimate of $1.10 by $0.23. The firm had revenue of $2.25 billion during the quarter, compared to analyst estimates of $2.20 billion. Skechers U.S.A. had a return on equity of 13.76% and a net margin of 7.17%. Skechers U.S.A.’s revenue was up 12.5% on a year-over-year basis. During the same period in the prior year, the business posted $1.02 EPS. On average, equities analysts predict that Skechers U.S.A., Inc. will post 3.81 earnings per share for the current year.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on the company. Monness Crespi & Hardt upped their price objective on Skechers U.S.A. from $60.00 to $72.00 and gave the company a “buy” rating in a research report on Thursday, January 18th. Bank of America assumed coverage on Skechers U.S.A. in a research report on Friday, March 8th. They issued a “neutral” rating and a $67.00 price objective on the stock. Wedbush upped their price objective on Skechers U.S.A. from $68.00 to $76.00 and gave the company an “outperform” rating in a research report on Friday. TD Cowen upped their price objective on Skechers U.S.A. from $70.00 to $74.00 and gave the company a “buy” rating in a research report on Wednesday, March 6th. Finally, Stifel Nicolaus lowered their price objective on Skechers U.S.A. from $72.00 to $70.00 and set a “buy” rating on the stock in a research report on Friday, February 2nd. Two analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $66.83.

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.