First Trust Advisors LP Sells 9,528 Shares of Deckers Outdoor Co. (NYSE:DECK)

Posted by on May 28th, 2023

First Trust Advisors LP reduced its position in Deckers Outdoor Co. (NYSE:DECK – Get Rating) by 42.0% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 13,178 shares of the textile maker’s stock after selling 9,528 shares during the quarter. First Trust Advisors LP’s holdings in Deckers Outdoor were worth $5,260,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Tobam bought a new position in Deckers Outdoor in the fourth quarter worth $36,000. Cutler Group LLC CA bought a new position in Deckers Outdoor in the fourth quarter worth $39,000. FNY Investment Advisers LLC acquired a new position in Deckers Outdoor during the fourth quarter worth $47,000. Lindbrook Capital LLC raised its stake in Deckers Outdoor by 136.0% during the fourth quarter. Lindbrook Capital LLC now owns 118 shares of the textile maker’s stock worth $47,000 after acquiring an additional 68 shares in the last quarter. Finally, Parallel Advisors LLC raised its stake in Deckers Outdoor by 28.3% during the fourth quarter. Parallel Advisors LLC now owns 136 shares of the textile maker’s stock worth $54,000 after acquiring an additional 30 shares in the last quarter. 98.87% of the stock is owned by institutional investors.

Deckers Outdoor Price Performance

Shares of NYSE:DECK opened at $465.18 on Friday. Deckers Outdoor Co. has a one year low of $238.43 and a one year high of $503.48. The company has a 50 day moving average of $465.59 and a 200-day moving average of $421.91. The stock has a market cap of $12.26 billion, a price-to-earnings ratio of 23.98, a P/E/G ratio of 1.18 and a beta of 0.92.

Deckers Outdoor (NYSE:DECK – Get Rating) last issued its quarterly earnings results on Thursday, May 25th. The textile maker reported $3.46 EPS for the quarter, topping the consensus estimate of $2.61 by $0.85. Deckers Outdoor had a net margin of 14.28% and a return on equity of 32.67%. The company had revenue of $791.57 million during the quarter, compared to analysts’ expectations of $723.47 million. During the same quarter in the previous year, the company earned $2.51 EPS. Deckers Outdoor’s revenue was up 7.5% on a year-over-year basis. Equities research analysts anticipate that Deckers Outdoor Co. will post 21.7 earnings per share for the current year.

Wall Street Analyst Weigh In

Several research analysts have issued reports on DECK shares. Stifel Nicolaus increased their price objective on Deckers Outdoor from $485.00 to $550.00 and gave the stock a “buy” rating in a research note on Monday, April 17th. BTIG Research increased their price objective on Deckers Outdoor from $515.00 to $560.00 in a research note on Monday, May 1st. Telsey Advisory Group reiterated an “outperform” rating and set a $485.00 price objective on shares of Deckers Outdoor in a research note on Wednesday, February 15th. Wells Fargo & Company increased their price objective on Deckers Outdoor from $425.00 to $480.00 in a research note on Friday. Finally, Cowen increased their price objective on Deckers Outdoor from $476.00 to $480.00 and gave the stock an “outperform” rating in a research note on Friday, February 3rd. Three equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. Based on data from MarketBeat.com, Deckers Outdoor has an average rating of “Moderate Buy” and an average price target of $497.69.

About Deckers Outdoor

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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.

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Institutional Ownership by Quarter for Deckers Outdoor (NYSE:DECK)

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