State Board of Administration of Florida Retirement System Has $6.68 Million Stake in Skechers U.S.A., Inc. (NYSE:SKX)

State Board of Administration of Florida Retirement System decreased its stake in Skechers U.S.A., Inc. (NYSE:SKX) by 1.5% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor 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 owned approximately 0.10% of Skechers U.S.A. worth $6,683,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in the stock. Spire Wealth Management raised its position in Skechers U.S.A. by 61.7% in the 3rd quarter. Spire Wealth Management now owns 629 shares of the textile maker’s stock valued at $26,000 after purchasing an additional 240 shares during the last quarter. FORA Capital LLC bought a new position in Skechers U.S.A. in the 2nd quarter valued at $155,000. Benjamin Edwards Inc. raised its position in Skechers U.S.A. by 14.1% in the 3rd quarter. Benjamin Edwards Inc. now owns 3,689 shares of the textile maker’s stock valued at $155,000 after purchasing an additional 455 shares during the last quarter. Advisory Services Network LLC bought a new position in Skechers U.S.A. in the 2nd quarter valued at $181,000. Finally, Banque Cantonale Vaudoise bought a new position in Skechers U.S.A. in the 3rd quarter valued at $196,000. 80.05% of the stock is currently owned by institutional investors and hedge funds.

Shares of Skechers U.S.A. stock opened at $43.63 on Friday. The company has a quick ratio of 1.55, a current ratio of 2.47 and a debt-to-equity ratio of 0.09. Skechers U.S.A., Inc. has a 12 month low of $33.80 and a 12 month high of $55.87. The business has a fifty day simple moving average of $45.21 and a 200 day simple moving average of $47.08. The stock has a market cap of $6.80 billion, a PE ratio of 17.06 and a beta of 1.47.

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

Several equities analysts have issued reports on the company. Rowe upgraded Skechers U.S.A. to a “buy” rating in a research report on Tuesday, October 19th. Deutsche Bank Aktiengesellschaft dropped their target price on Skechers U.S.A. from $64.00 to $58.00 and set a “buy” rating for the company in a research report on Monday, October 18th. Williams Capital upgraded 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. Finally, Zacks Investment Research upgraded Skechers U.S.A. from a “sell” rating to a “hold” rating and set a $46.00 target price for the company in a research report on Monday, January 3rd. Three research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Buy” and a consensus price target of $54.89.

Skechers U.S.A. Company 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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