State of Tennessee Treasury Department raised its stake in shares of Skechers USA Inc (NYSE:SKX) by 4.4% in the first quarter, Holdings Channel reports. The institutional investor owned 177,767 shares of the textile maker’s stock after buying an additional 7,434 shares during the quarter. State of Tennessee Treasury Department’s holdings in Skechers USA were worth $5,975,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Advisor Group Inc. raised its stake in Skechers USA by 5.6% during the 4th quarter. Advisor Group Inc. now owns 25,769 shares of the textile maker’s stock valued at $589,000 after buying an additional 1,378 shares during the last quarter. Texas Permanent School Fund grew its position in shares of Skechers USA by 3.1% during the 4th quarter. Texas Permanent School Fund now owns 87,610 shares of the textile maker’s stock valued at $2,005,000 after acquiring an additional 2,606 shares during the period. Oregon Public Employees Retirement Fund grew its position in shares of Skechers USA by 2,192.7% during the 4th quarter. Oregon Public Employees Retirement Fund now owns 1,233,771 shares of the textile maker’s stock valued at $54,000 after acquiring an additional 1,179,958 shares during the period. Prudential Financial Inc. grew its position in shares of Skechers USA by 50.5% during the 4th quarter. Prudential Financial Inc. now owns 1,260,252 shares of the textile maker’s stock valued at $28,847,000 after acquiring an additional 423,054 shares during the period. Finally, Boston Partners grew its position in shares of Skechers USA by 35.7% during the 4th quarter. Boston Partners now owns 1,955,660 shares of the textile maker’s stock valued at $44,765,000 after acquiring an additional 514,734 shares during the period. Institutional investors and hedge funds own 76.49% of the company’s stock.

In other Skechers USA news, CEO Robert Greenberg sold 25,210 shares of the stock in a transaction dated Thursday, May 2nd. The shares were sold at an average price of $31.17, for a total transaction of $785,795.70. Following the completion of the transaction, the chief executive officer now owns 625,210 shares of the company’s stock, valued at approximately $19,487,795.70. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, General Counsel Phillip Paccione sold 9,693 shares of the stock in a transaction dated Thursday, May 2nd. The shares were sold at an average price of $31.17, for a total transaction of $302,130.81. Following the transaction, the general counsel now directly owns 64,693 shares of the company’s stock, valued at approximately $2,016,480.81. The disclosure for this sale can be found here. Insiders sold a total of 149,690 shares of company stock valued at $4,826,486 in the last ninety days. 28.08% of the stock is currently owned by insiders.

A number of brokerages have recently issued reports on SKX. B. Riley reissued a “buy” rating on shares of Skechers USA in a research report on Friday, April 26th. Standpoint Research downgraded shares of Skechers USA from a “buy” rating to a “hold” rating in a research report on Friday, February 22nd. Susquehanna Bancshares raised shares of Skechers USA from a “neutral” rating to a “positive” rating and boosted their price objective for the company from $32.00 to $37.00 in a research report on Wednesday, March 27th. Cowen reissued a “hold” rating and set a $34.00 price objective on shares of Skechers USA in a research report on Tuesday, February 12th. Finally, TheStreet raised shares of Skechers USA from a “c+” rating to a “b” rating in a research report on Thursday, February 14th. Three research analysts have rated the stock with a sell rating, seven have issued a hold rating and seven have given a buy rating to the stock. Skechers USA has a consensus rating of “Hold” and an average target price of $32.33.

Skechers USA stock traded up $0.24 during mid-day trading on Wednesday, hitting $29.93. The stock had a trading volume of 13,597 shares, compared to its average volume of 2,347,076. The company has a market capitalization of $4.72 billion, a P/E ratio of 15.69, a P/E/G ratio of 2.17 and a beta of 0.67. The company has a debt-to-equity ratio of 0.43, a quick ratio of 2.00 and a current ratio of 2.91. Skechers USA Inc has a one year low of $21.45 and a one year high of $35.66.

Skechers USA (NYSE:SKX) last issued its earnings results on Thursday, April 18th. The textile maker reported $0.71 earnings per share for the quarter, missing the consensus estimate of $0.72 by ($0.01). The firm had revenue of $1.28 billion during the quarter, compared to the consensus estimate of $1.30 billion. Skechers USA had a return on equity of 13.56% and a net margin of 6.26%. The company’s quarterly revenue was up 2.1% on a year-over-year basis. During the same period in the prior year, the company posted $0.75 EPS. Analysts forecast that Skechers USA Inc will post 2.02 EPS for the current year.

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Skechers USA Company 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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