Mutual of America Capital Management LLC Sells 547 Shares of Deckers Outdoor Corporation (NYSE:DECK)

Mutual of America Capital Management LLC cut its stake in Deckers Outdoor Corporation (NYSE:DECK) by 3.0% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 17,663 shares of the textile maker’s stock after selling 547 shares during the period. Mutual of America Capital Management LLC’s holdings in Deckers Outdoor were worth $1,975,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in DECK. Norges Bank acquired a new position in Deckers Outdoor in the 4th quarter worth $392,583,000. Jacobs Levy Equity Management Inc. boosted its stake in shares of Deckers Outdoor by 204.8% during the 4th quarter. Jacobs Levy Equity Management Inc. now owns 889,624 shares of the textile maker’s stock worth $180,674,000 after buying an additional 597,743 shares during the last quarter. Envestnet Asset Management Inc. boosted its stake in shares of Deckers Outdoor by 101.3% during the 4th quarter. Envestnet Asset Management Inc. now owns 1,003,743 shares of the textile maker’s stock worth $203,850,000 after buying an additional 505,139 shares during the last quarter. Price T Rowe Associates Inc. MD boosted its stake in shares of Deckers Outdoor by 69.7% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 1,034,191 shares of the textile maker’s stock worth $210,034,000 after buying an additional 424,702 shares during the last quarter. Finally, Martin Currie Ltd. acquired a new position in shares of Deckers Outdoor during the 4th quarter worth about $57,688,000. 97.79% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on DECK shares. Wells Fargo & Company cut 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 research note on Friday, May 23rd. Piper Sandler lowered their price target on shares of Deckers Outdoor from $210.00 to $100.00 and set a “neutral” rating on the stock in a report on Friday, April 11th. Argus initiated coverage on shares of Deckers Outdoor in a report on Friday, June 13th. They issued a “hold” rating on the stock. Telsey Advisory Group reaffirmed a “market perform” rating and set a $120.00 target price on shares of Deckers Outdoor in a report on Friday. Finally, KGI Securities raised shares of Deckers Outdoor to a “hold” rating in a report on Monday, May 26th. 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 issued a strong buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $135.61.

Insider Buying and Selling at Deckers Outdoor

In other Deckers Outdoor news, 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 bought at an average cost of $109.76 per share, for a total transaction of $200,312.00. Following the purchase, the director owned 13,340 shares of the company’s stock, valued at $1,464,198.40. This represents a 15.85% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Angela Ogbechie sold 6,244 shares of the company’s stock in a transaction that occurred on Monday, June 2nd. The shares were sold at an average price of $103.89, for a total transaction of $648,689.16. Following the sale, the insider owned 19,980 shares in the company, valued at $2,075,722.20. The trade was a 23.81% decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 0.40% of the company’s stock.

Deckers Outdoor Price Performance

NYSE:DECK opened at $101.90 on Friday. The firm has a 50-day moving average of $108.14 and a 200-day moving average of $132.62. The company has a market cap of $15.23 billion, a PE ratio of 16.06, a PEG ratio of 6.21 and a beta of 0.99. Deckers Outdoor Corporation has a one year low of $93.72 and a one year high of $223.98.

Deckers Outdoor (NYSE:DECK) last released its quarterly earnings results on Thursday, May 22nd. The textile maker reported $1.00 earnings per share for the quarter, topping 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 business had revenue of $1.02 billion for the quarter, compared to analysts’ expectations of $1.01 billion. During the same period in the previous year, the company earned $0.82 earnings per share. The firm’s revenue for the quarter was up 6.5% compared to the same quarter last year. On average, equities research analysts expect that Deckers Outdoor Corporation will post 5.89 earnings per share for the current fiscal year.

Deckers Outdoor announced that its board has initiated a stock buyback program on Thursday, May 22nd that permits the company to repurchase $2.25 billion in outstanding shares. This repurchase authorization permits the textile maker to repurchase up to 11.7% of its stock through open market purchases. Stock repurchase programs are generally 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.