Utah Retirement Systems Trims Stock Holdings in Deckers Outdoor Co. (NYSE:DECK)

Posted by Defense World Staff on Mar 13th, 2023

Utah Retirement Systems lowered its position in shares of Deckers Outdoor Co. (NYSE:DECK – Get Rating) by 3.0% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 4,697 shares of the textile maker’s stock after selling 143 shares during the period. Utah Retirement Systems’ holdings in Deckers Outdoor were worth $1,469,000 as of its most recent SEC filing.

Several other hedge funds have also bought and sold shares of DECK. Ronald Blue Trust Inc. raised its holdings in Deckers Outdoor by 154.8% during the 3rd quarter. Ronald Blue Trust Inc. now owns 158 shares of the textile maker’s stock valued at $41,000 after buying an additional 96 shares during the last quarter. EverSource Wealth Advisors LLC purchased a new position in Deckers Outdoor during the 3rd quarter valued at $59,000. Brown Brothers Harriman & Co. grew its position in shares of Deckers Outdoor by 28.9% in the 2nd quarter. Brown Brothers Harriman & Co. now owns 254 shares of the textile maker’s stock worth $65,000 after buying an additional 57 shares during the period. Stephens Inc. AR purchased a new stake in shares of Deckers Outdoor in the 3rd quarter worth about $98,000. Finally, Covestor Ltd grew its position in shares of Deckers Outdoor by 96.7% in the 1st quarter. Covestor Ltd now owns 419 shares of the textile maker’s stock worth $115,000 after buying an additional 206 shares during the period. 98.87% of the stock is currently owned by institutional investors.

Deckers Outdoor Stock Down 2.7 %

DECK opened at $412.32 on Monday. Deckers Outdoor Co. has a 52-week low of $212.93 and a 52-week high of $443.80. The company has a market cap of $10.87 billion, a P/E ratio of 22.35, a price-to-earnings-growth ratio of 1.23 and a beta of 0.92. The firm’s 50-day moving average price is $414.78 and its 200-day moving average price is $375.21.

Deckers Outdoor (NYSE:DECK – Get Rating) last released its quarterly earnings data on Thursday, February 2nd. The textile maker reported $10.48 EPS for the quarter, topping the consensus estimate of $9.41 by $1.07. Deckers Outdoor had a return on equity of 31.38% and a net margin of 13.83%. The business had revenue of $1.35 billion for the quarter, compared to analyst estimates of $1.26 billion. During the same quarter in the prior year, the firm posted $8.42 EPS. The business’s quarterly revenue was up 13.3% compared to the same quarter last year. On average, research analysts anticipate that Deckers Outdoor Co. will post 18.46 EPS for the current fiscal year.

Insider Activity

In related news, insider Thomas Garcia sold 1,000 shares of the stock in a transaction on Tuesday, December 27th. The stock was sold at an average price of $395.00, for a total value of $395,000.00. Following the completion of the transaction, the insider now directly owns 14,922 shares of the company’s stock, valued at approximately $5,894,190. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. In related news, insider Thomas Garcia sold 1,000 shares of the firm’s stock in a transaction dated Tuesday, December 27th. The stock was sold at an average price of $395.00, for a total transaction of $395,000.00. Following the completion of the sale, the insider now directly owns 14,922 shares of the company’s stock, valued at approximately $5,894,190. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Lauri M. Shanahan sold 2,529 shares of Deckers Outdoor stock in a transaction dated Tuesday, February 21st. The shares were sold at an average price of $406.56, for a total value of $1,028,190.24. Following the completion of the transaction, the director now owns 7,843 shares of the company’s stock, valued at approximately $3,188,650.08. The disclosure for this sale can be found here. Insiders have sold 40,486 shares of company stock worth $16,242,273 in the last quarter. Corporate insiders own 0.80% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have recently weighed in on DECK. Cowen upped their target price on shares of Deckers Outdoor from $393.00 to $450.00 in a research report on Tuesday, November 29th. Cowen upped their price target on shares of Deckers Outdoor from $476.00 to $480.00 and gave the stock an “outperform” rating in a research note on Friday, February 3rd. Piper Sandler upped their price target on shares of Deckers Outdoor from $440.00 to $470.00 and gave the stock an “overweight” rating in a research note on Thursday, January 5th. Telsey Advisory Group reiterated an “outperform” rating and issued a $485.00 price target on shares of Deckers Outdoor in a research note on Wednesday, February 15th. Finally, BTIG Research restated a “buy” rating and set a $515.00 target price on shares of Deckers Outdoor in a research note on Tuesday, February 7th. Three equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. According to MarketBeat, Deckers Outdoor presently has an average rating of “Moderate Buy” and a consensus price target of $447.77.

Deckers Outdoor Company Profile

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Deckers Outdoor Corp. engages in the business of designing, marketing, and distributing footwear, apparel, and accessories developed for both everyday casual lifestyle use and high performance activities. It operates through the following segments: UGG Brand, HOKA Brand, Teva Brand, Sanuk Brand, Other Brands, and Direct-to-Consumer.