Deckers Outdoor Corporation (NYSE:DECK) Stake Cut by Ritholtz Wealth Management

Ritholtz Wealth Management reduced its holdings in Deckers Outdoor Corporation (NYSE:DECK) by 22.5% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,269 shares of the textile maker’s stock after selling 659 shares during the period. Ritholtz Wealth Management’s holdings in Deckers Outdoor were worth $254,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of DECK. Mpwm Advisory Solutions LLC purchased a new stake in Deckers Outdoor in the 4th quarter worth about $26,000. Headlands Technologies LLC purchased a new stake in Deckers Outdoor in the 4th quarter worth about $29,000. Vega Investment Solutions purchased a new stake in Deckers Outdoor in the 4th quarter worth about $29,000. Whittier Trust Co. of Nevada Inc. increased its position in 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 last quarter. Finally, Fourth Dimension Wealth LLC acquired a new position in Deckers Outdoor in the 4th quarter worth about $41,000. 97.79% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, insider Angela Ogbechie sold 6,244 shares of the firm’s stock in a transaction on Monday, June 2nd. The stock was sold at an average price of $103.89, for a total transaction of $648,689.16. Following the completion of the sale, the insider now directly owns 19,980 shares of the company’s stock, valued at $2,075,722.20. This trade represents a 23.81% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Cindy L. Davis purchased 1,825 shares of the company’s stock in a transaction that occurred on Friday, June 6th. The shares were acquired at an average cost of $109.76 per share, with a total value of $200,312.00. Following the completion of the acquisition, the director now directly owns 13,340 shares in the company, valued at approximately $1,464,198.40. This represents a 15.85% increase in their ownership of the stock. The disclosure for this purchase can be found here. 0.40% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on DECK. UBS Group set a $169.00 target price on Deckers Outdoor and gave the stock a “buy” rating in a research report on Friday, May 23rd. Piper Sandler dropped their target price on Deckers Outdoor from $210.00 to $100.00 and set a “neutral” rating on the stock in a research report on Friday, April 11th. Bank of America dropped their target price on Deckers Outdoor from $154.00 to $128.00 and set a “neutral” rating on the stock in a research report on Friday, May 23rd. Evercore ISI reaffirmed an “in-line” rating and issued a $110.00 target price (down from $235.00) on shares of Deckers Outdoor in a research report on Friday, May 23rd. Finally, Barclays reissued an “overweight” rating and set a $128.00 price objective (down previously from $129.00) on shares of Deckers Outdoor in a report on Thursday, May 22nd. Fourteen analysts have rated the stock with a hold rating, ten have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $134.68.

Deckers Outdoor Trading Up 0.8%

Shares of DECK stock opened at $101.80 on Friday. The stock has a 50 day moving average of $111.58 and a two-hundred day moving average of $147.30. Deckers Outdoor Corporation has a 12 month low of $93.72 and a 12 month high of $223.98. The company has a market capitalization of $15.21 billion, a P/E ratio of 16.05, a P/E/G ratio of 6.13 and a beta of 1.02.

Deckers Outdoor (NYSE:DECK) last announced its quarterly earnings data on Thursday, May 22nd. The textile maker reported $1.00 EPS for the quarter, topping analysts’ consensus estimates of $0.57 by $0.43. Deckers Outdoor had a return on equity of 41.17% and a net margin of 19.49%. The company had revenue of $1.02 billion during the quarter, compared to the consensus estimate of $1.01 billion. During the same quarter last year, the company earned $0.82 EPS. The company’s quarterly revenue was up 6.5% on a year-over-year basis. Sell-side analysts predict that Deckers Outdoor Corporation will post 5.89 earnings per share for the current fiscal year.

Deckers Outdoor announced that its board has authorized a share buyback plan on Thursday, May 22nd that allows the company to buyback $2.25 billion in shares. This buyback authorization allows the textile maker to repurchase up to 11.7% of its shares through open market purchases. Shares buyback plans are often a sign that the company’s board of directors believes its stock is undervalued.

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.