M&T Bank Corp Sells 263 Shares of Deckers Outdoor Corporation (NYSE:DECK)

M&T Bank Corp decreased its holdings in Deckers Outdoor Corporation (NYSE:DECK) by 3.7% in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 6,910 shares of the textile maker’s stock after selling 263 shares during the period. M&T Bank Corp’s holdings in Deckers Outdoor were worth $772,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors also recently bought and sold shares of DECK. Vanguard Group Inc. increased its position in shares of Deckers Outdoor by 1.3% during the fourth quarter. Vanguard Group Inc. now owns 17,639,783 shares of the textile maker’s stock worth $3,582,464,000 after purchasing an additional 229,807 shares in the last quarter. Geode Capital Management LLC increased its position in shares of Deckers Outdoor by 1.1% during the fourth quarter. Geode Capital Management LLC now owns 4,104,954 shares of the textile maker’s stock worth $831,723,000 after purchasing an additional 45,035 shares in the last quarter. Norges Bank acquired a new position in shares of Deckers Outdoor during the fourth quarter worth $392,583,000. Northern Trust Corp increased its position in shares of Deckers Outdoor by 13.9% during the fourth quarter. Northern Trust Corp now owns 1,581,702 shares of the textile maker’s stock worth $321,228,000 after purchasing an additional 192,469 shares in the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its position in shares of Deckers Outdoor by 11.4% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,423,149 shares of the textile maker’s stock worth $289,027,000 after purchasing an additional 145,794 shares in the last quarter. Institutional investors own 97.79% of the company’s stock.

Insiders Place Their Bets

In other Deckers Outdoor 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 transaction, the insider owned 19,980 shares in the company, valued at approximately $2,075,722.20. This represents a 23.81% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Maha Saleh Ibrahim sold 300 shares of the company’s stock in a transaction dated Friday, June 6th. The stock was sold at an average price of $109.08, for a total transaction of $32,724.00. Following the transaction, the director owned 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. Insiders own 0.40% of the company’s stock.

Deckers Outdoor Stock Performance

NYSE:DECK opened at $98.46 on Tuesday. Deckers Outdoor Corporation has a one year low of $93.72 and a one year high of $223.98. The firm has a market cap of $14.71 billion, a price-to-earnings ratio of 15.52, a PEG ratio of 6.18 and a beta of 0.99. The firm’s fifty day moving average is $110.32 and its two-hundred day moving average is $135.81.

Deckers Outdoor (NYSE:DECK) last issued its quarterly earnings data on Thursday, May 22nd. The textile maker reported $1.00 earnings per share for the quarter, topping analysts’ consensus estimates of $0.57 by $0.43. The business had revenue of $1.02 billion during 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%. The company’s revenue was up 6.5% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.82 earnings per share. As a group, equities research analysts predict that Deckers Outdoor Corporation will post 5.89 earnings per share for the current fiscal year.

Deckers Outdoor declared that its board has authorized a stock repurchase program on Thursday, May 22nd that authorizes the company to buyback $2.25 billion in shares. This buyback authorization authorizes the textile maker to reacquire up to 11.7% of its stock through open market purchases. Stock buyback programs are often an indication that the company’s leadership believes its shares are undervalued.

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on DECK shares. Piper Sandler reduced their price target 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. Stifel Nicolaus reduced their price target on Deckers Outdoor from $185.00 to $127.00 and set a “hold” rating on the stock in a research report on Thursday, April 10th. Argus began coverage on Deckers Outdoor in a research report on Friday, June 13th. They set a “hold” rating on the stock. KeyCorp reissued a “sector weight” rating and set a $150.00 price objective on shares of Deckers Outdoor in a report on Friday, May 23rd. Finally, Barclays reissued an “overweight” rating and set a $128.00 price objective (down from $129.00) on shares of Deckers Outdoor in a report on Thursday, May 22nd. One investment analyst has rated the stock with a sell rating, fourteen have given a hold rating, ten have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $137.66.

Deckers Outdoor Company Profile

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.