California Public Employees Retirement System lowered its position in shares of Skechers USA Inc (NYSE:SKX) by 8.6% during the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 222,216 shares of the textile maker’s stock after selling 20,934 shares during the period. California Public Employees Retirement System’s holdings in Skechers USA were worth $6,669,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently bought and sold shares of SKX. US Bancorp DE increased its position in shares of Skechers USA by 169.5% during the second quarter. US Bancorp DE now owns 4,069 shares of the textile maker’s stock worth $122,000 after purchasing an additional 2,559 shares in the last quarter. NumerixS Investment Technologies Inc acquired a new stake in shares of Skechers USA during the second quarter worth about $141,000. Strs Ohio acquired a new stake in shares of Skechers USA during the second quarter worth about $184,000. Creative Planning acquired a new stake in shares of Skechers USA during the second quarter worth about $211,000. Finally, Intact Investment Management Inc. increased its position in shares of Skechers USA by 34.5% during the second quarter. Intact Investment Management Inc. now owns 7,400 shares of the textile maker’s stock worth $222,000 after purchasing an additional 1,900 shares in the last quarter. Institutional investors and hedge funds own 70.89% of the company’s stock.

SKX has been the topic of a number of research analyst reports. UBS Group initiated coverage on Skechers USA in a research report on Thursday, June 21st. They set a “buy” rating and a $42.00 target price on the stock. B. Riley set a $50.00 target price on Skechers USA and gave the stock a “buy” rating in a research report on Tuesday, July 17th. ValuEngine upgraded Skechers USA from a “hold” rating to a “buy” rating in a research report on Thursday, July 19th. Wells Fargo & Co cut Skechers USA from an “outperform” rating to a “market perform” rating and set a $36.00 price target on the stock. in a research report on Friday, July 20th. Finally, Monness Crespi & Hardt dropped their price target on Skechers USA from $45.00 to $32.00 and set a “buy” rating on the stock in a research report on Friday, July 20th. One research analyst has rated the stock with a sell rating, nine have assigned a hold rating and six have issued a buy rating to the company’s stock. The company currently has an average rating of “Hold” and an average price target of $36.62.

Shares of SKX stock opened at $25.64 on Friday. The stock has a market capitalization of $4.45 billion, a P/E ratio of 14.40, a P/E/G ratio of 1.62 and a beta of 0.36. Skechers USA Inc has a 52-week low of $23.80 and a 52-week high of $43.08. The company has a debt-to-equity ratio of 0.03, a quick ratio of 2.14 and a current ratio of 3.28.

Skechers USA (NYSE:SKX) last issued its quarterly earnings results on Thursday, July 19th. The textile maker reported $0.29 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.41 by ($0.12). The company had revenue of $1.13 billion during the quarter, compared to analyst estimates of $1.13 billion. Skechers USA had a net margin of 4.24% and a return on equity of 14.17%. The business’s revenue was up 10.6% on a year-over-year basis. During the same quarter last year, the firm earned $0.38 EPS. As a group, equities research analysts forecast that Skechers USA Inc will post 1.72 EPS for the current fiscal year.

Skechers USA Profile

Skechers U.SA, Inc designs, develops, markets, and distributes footwear for men, women, and children; and performance footwear for men and women under the Skechers GO brand worldwide. It operates through three segments: Domestic Wholesale Sales, International Wholesale Sales, and Retail Sales. The company offers casual boots, shoes, and sandals for men; shoes, oxfords and slip-ons, lug outsole and fashion boots, and casual sandals for women; dress casuals, seasonal sandals and boots, classic and wide fit, and relaxed fit casuals for men and women; and casual athletic line for men and women under the Skechers USA brand.

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Institutional Ownership by Quarter for Skechers USA (NYSE:SKX)

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