Cerity Partners LLC Decreases Stock Position in Deckers Outdoor Corporation (NYSE:DECK)

Cerity Partners LLC lowered its stake in shares of Deckers Outdoor Corporation (NYSE:DECK) by 4.6% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 23,882 shares of the textile maker’s stock after selling 1,152 shares during the period. Cerity Partners LLC’s holdings in Deckers Outdoor were worth $2,670,000 as of its most recent SEC filing.

A number of other large investors have also made changes to their positions in DECK. Revolve Wealth Partners LLC purchased a new stake in shares of Deckers Outdoor in the fourth quarter valued at $247,000. Commonwealth Equity Services LLC grew its position in shares of Deckers Outdoor by 17.3% in the fourth quarter. Commonwealth Equity Services LLC now owns 9,120 shares of the textile maker’s stock valued at $1,852,000 after purchasing an additional 1,346 shares during the period. Corient Private Wealth LLC grew its position in shares of Deckers Outdoor by 7.3% in the fourth quarter. Corient Private Wealth LLC now owns 17,796 shares of the textile maker’s stock valued at $3,614,000 after purchasing an additional 1,206 shares during the period. Royal London Asset Management Ltd. grew its position in shares of Deckers Outdoor by 60.1% in the fourth quarter. Royal London Asset Management Ltd. now owns 103,305 shares of the textile maker’s stock valued at $20,980,000 after purchasing an additional 38,785 shares during the period. Finally, Whittier Trust Co. of Nevada Inc. grew its position in shares of Deckers Outdoor by 250.0% in the fourth quarter. Whittier Trust Co. of Nevada Inc. now owns 168 shares of the textile maker’s stock valued at $34,000 after purchasing an additional 120 shares during the period. Institutional investors and hedge funds own 97.79% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on DECK shares. Barclays restated 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. Bank of America cut their target price on shares of Deckers Outdoor from $128.00 to $114.00 and set a “neutral” rating on the stock in a research note on Thursday. TD Securities raised their target price on shares of Deckers Outdoor from $150.00 to $175.00 and gave the company a “buy” rating in a research note on Tuesday, May 20th. Cowen reissued a “buy” rating on shares of Deckers Outdoor in a research note on Tuesday, May 20th. Finally, KeyCorp reissued a “sector weight” rating and issued a $150.00 target price on shares of Deckers Outdoor in a research note on Friday, May 23rd. One investment analyst has rated the stock with a sell rating, fourteen have issued a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $135.61.

Deckers Outdoor Trading Up 0.7%

NYSE:DECK opened at $101.90 on Friday. The stock has a 50 day moving average of $108.14 and a 200-day moving average of $132.62. Deckers Outdoor Corporation has a 52 week low of $93.72 and a 52 week high of $223.98. The firm has a market capitalization of $15.23 billion, a PE ratio of 16.06, a price-to-earnings-growth ratio of 6.21 and a beta of 0.99.

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

Deckers Outdoor announced that its Board of Directors has approved a share buyback program on Thursday, May 22nd that allows the company to buyback $2.25 billion in shares. This buyback authorization allows the textile maker to purchase up to 11.7% of its stock through open market purchases. Stock buyback programs are often a sign that the company’s management believes its stock is undervalued.

Insiders Place Their Bets

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 value of $648,689.16. Following the completion of the transaction, the insider owned 19,980 shares in the company, 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 can be accessed through the SEC website. Also, Director Maha Saleh Ibrahim sold 300 shares of the stock in a transaction on Friday, June 6th. The shares were sold at an average price of $109.08, for a total value of $32,724.00. Following the completion of the transaction, the director owned 10,681 shares of the company’s stock, valued at $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 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.