Oppenheimer Asset Management Inc. Sells 2,199 Shares of Deckers Outdoor Corporation (NYSE:DECK)

Oppenheimer Asset Management Inc. reduced its holdings in shares of Deckers Outdoor Corporation (NYSE:DECK) by 16.5% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 11,159 shares of the textile maker’s stock after selling 2,199 shares during the period. Oppenheimer Asset Management Inc.’s holdings in Deckers Outdoor were worth $1,248,000 at the end of the most recent reporting period.

Several other large investors have also recently made changes to their positions in DECK. Revolve Wealth Partners LLC bought a new stake in Deckers Outdoor in the fourth quarter worth $247,000. Private Advisor Group LLC lifted its stake in shares of Deckers Outdoor by 9.4% in the 4th quarter. Private Advisor Group LLC now owns 6,043 shares of the textile maker’s stock valued at $1,227,000 after acquiring an additional 518 shares during the last quarter. Sigma Planning Corp purchased a new stake in Deckers Outdoor during the 4th quarter valued at about $294,000. Advisor OS LLC bought a new position in Deckers Outdoor during the 4th quarter worth approximately $407,000. Finally, Nwam LLC bought a new position in Deckers Outdoor during the 4th quarter worth approximately $237,000. 97.79% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on DECK. Cowen restated a “buy” rating on shares of Deckers Outdoor in a report on Tuesday, May 20th. Needham & Company LLC set a $150.00 price objective on shares of Deckers Outdoor and gave the company a “buy” rating in a research note on Wednesday, May 21st. Wells Fargo & Company dropped their target price on shares of Deckers Outdoor from $120.00 to $100.00 and set an “equal weight” rating for the company in a report on Friday, May 23rd. Robert W. Baird reduced their price target on Deckers Outdoor from $160.00 to $140.00 and set an “outperform” rating on the stock in a report on Friday, May 23rd. Finally, Stifel Nicolaus lowered their price target on Deckers Outdoor from $185.00 to $127.00 and set a “hold” rating for the company in a research report on Thursday, April 10th. Fourteen investment analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Hold” and an average target price of $140.31.

Deckers Outdoor Trading Up 2.4%

NYSE DECK opened at $104.34 on Friday. Deckers Outdoor Corporation has a 12 month low of $93.72 and a 12 month high of $223.98. The stock’s fifty day moving average price is $111.26 and its 200-day moving average price is $143.86. The stock has a market cap of $15.59 billion, a P/E ratio of 16.45, a P/E/G ratio of 6.19 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, beating the consensus estimate of $0.57 by $0.43. The company had revenue of $1.02 billion for the quarter, compared to the consensus estimate of $1.01 billion. Deckers Outdoor had a net margin of 19.49% and a return on equity of 41.17%. Deckers Outdoor’s revenue for the quarter was up 6.5% on a year-over-year basis. During the same period in the prior year, the firm posted $0.82 EPS. As a group, analysts forecast that Deckers Outdoor Corporation will post 5.89 earnings per share for the current fiscal year.

Deckers Outdoor announced that its board has approved a share repurchase program on Thursday, May 22nd that authorizes the company to repurchase $2.25 billion in shares. This repurchase authorization authorizes the textile maker to buy up to 11.7% of its shares through open market purchases. Shares repurchase programs are generally an indication that the company’s management believes its stock is undervalued.

Insider Activity at Deckers Outdoor

In related news, insider Angela Ogbechie sold 6,244 shares of the 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 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 ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Maha Saleh Ibrahim sold 300 shares of the business’s stock in a transaction dated Friday, June 6th. The stock was sold at an average price of $109.08, for a total value of $32,724.00. Following the completion of the transaction, the director now directly owns 10,681 shares of the company’s stock, valued at approximately $1,165,083.48. This trade represents a 2.73% decrease in their position. The disclosure for this sale can be found here. 0.40% of the stock is currently owned by insiders.

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.