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Mutual of America Capital Management LLC lowered its holdings in shares of Deckers Outdoor Corporation (NYSE:DECK – Free Report) by 3.0% during the 1st quarter, Holdings Channel.com reports. The firm owned 17,663 shares of the textile maker’s stock after selling 547 shares during the quarter. Mutual of America Capital Management LLC’s holdings in Deckers Outdoor were worth $1,975,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds also recently made changes to their positions in the business. Mpwm Advisory Solutions LLC purchased a new stake in Deckers Outdoor during the 4th quarter valued at $26,000. Headlands Technologies LLC purchased a new stake in shares of Deckers Outdoor in the 4th quarter worth about $29,000. Vega Investment Solutions purchased a new stake in shares of Deckers Outdoor in the 4th quarter worth about $29,000. Whittier Trust Co. of Nevada Inc. lifted its position in shares of Deckers Outdoor by 250.0% in the 4th quarter. Whittier Trust Co. of Nevada Inc. now owns 168 shares of the textile maker’s stock worth $34,000 after purchasing an additional 120 shares during the period. Finally, Fourth Dimension Wealth LLC purchased a new stake in shares of Deckers Outdoor in the 4th quarter worth about $41,000. Institutional investors own 97.79% of the company’s stock.
Wall Street Analysts Forecast Growth
A number of research analysts recently issued reports on the stock. Telsey Advisory Group reissued a “market perform” rating and set a $120.00 price target on shares of Deckers Outdoor in a research report on Friday. The Goldman Sachs Group assumed coverage on shares of Deckers Outdoor in a research report on Wednesday, July 2nd. They set a “sell” rating and a $90.00 price target for the company. Piper Sandler lowered their price target on shares of Deckers Outdoor from $210.00 to $100.00 and set a “neutral” rating for the company in a research report on Friday, April 11th. KGI Securities raised shares of Deckers Outdoor to a “hold” rating in a research report on Monday, May 26th. Finally, Argus assumed coverage on shares of Deckers Outdoor in a research report on Friday, June 13th. They set a “hold” rating for the company. One investment analyst has rated the stock with a sell rating, fourteen have assigned a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $135.61.
Check Out Our Latest Report on DECK
Deckers Outdoor Trading Up 0.7%
DECK opened at $101.90 on Friday. Deckers Outdoor Corporation has a 12-month low of $93.72 and a 12-month high of $223.98. The company has a market cap of $15.23 billion, a price-to-earnings ratio of 16.06, a PEG ratio of 6.21 and a beta of 0.99. The company’s 50 day moving average is $108.14 and its 200 day moving average is $132.62.
Deckers Outdoor (NYSE:DECK – Get Free Report) last released its earnings results on Thursday, May 22nd. The textile maker reported $1.00 EPS for the quarter, topping the consensus estimate of $0.57 by $0.43. Deckers Outdoor had a net margin of 19.49% and a return on equity of 41.17%. The firm had revenue of $1.02 billion for the quarter, compared to the consensus estimate of $1.01 billion. During the same quarter in the previous year, the firm earned $0.82 earnings per share. The company’s quarterly revenue was up 6.5% compared to the same quarter last year. As a group, analysts predict that Deckers Outdoor Corporation will post 5.89 EPS for the current fiscal year.
Deckers Outdoor declared that its Board of Directors has approved a stock buyback plan on Thursday, May 22nd that authorizes the company to repurchase $2.25 billion in shares. This repurchase authorization authorizes the textile maker to repurchase up to 11.7% of its shares through open market purchases. Shares repurchase plans are often a sign that the company’s leadership believes its stock is undervalued.
Insider Buying and Selling at Deckers Outdoor
In related news, insider Angela Ogbechie sold 6,244 shares of the company’s stock in a transaction dated Monday, June 2nd. The shares were sold at an average price of $103.89, for a total value of $648,689.16. Following the completion of the sale, the insider directly owned 19,980 shares of the company’s stock, valued at $2,075,722.20. This represents a 23.81% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Cindy L. Davis acquired 1,825 shares of the stock in a transaction that occurred on Friday, June 6th. The stock was acquired at an average cost of $109.76 per share, with a total value of $200,312.00. Following the completion of the purchase, the director owned 13,340 shares of the company’s stock, valued at $1,464,198.40. This trade represents a 15.85% increase in their ownership of the stock. The disclosure for this purchase can be found here. Company insiders own 0.40% of the company’s stock.
About Deckers Outdoor
Deckers Outdoor Corporation, together with its subsidiaries, designs, markets, and distributes footwear, apparel, and accessories for casual lifestyle use and high-performance activities in the United States and internationally. The company offers premium footwear, apparel, and accessories under the UGG brand name; footwear, apparel, and accessories for ultra-runners and athletes under the HOKA brand name; and sandals, shoes, and boots under the Teva brand name.
See Also
Want to see what other hedge funds are holding DECK? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Deckers Outdoor Corporation (NYSE:DECK – Free Report).
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