IFP Advisors Inc Sells 549 Shares of Deckers Outdoor Corporation (NYSE:DECK)

IFP Advisors Inc lessened its holdings in Deckers Outdoor Corporation (NYSE:DECK) by 6.7% during the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 7,593 shares of the textile maker’s stock after selling 549 shares during the period. IFP Advisors Inc’s holdings in Deckers Outdoor were worth $849,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in DECK. Revolve Wealth Partners LLC bought a new stake in Deckers Outdoor during the 4th quarter worth approximately $247,000. Commonwealth Equity Services LLC raised its stake in Deckers Outdoor by 17.3% during the 4th quarter. Commonwealth Equity Services LLC now owns 9,120 shares of the textile maker’s stock worth $1,852,000 after acquiring an additional 1,346 shares during the period. TD Private Client Wealth LLC raised its stake in Deckers Outdoor by 11.8% during the 4th quarter. TD Private Client Wealth LLC now owns 1,065 shares of the textile maker’s stock worth $216,000 after acquiring an additional 112 shares during the period. LPL Financial LLC raised its stake in Deckers Outdoor by 30.3% during the 4th quarter. LPL Financial LLC now owns 196,013 shares of the textile maker’s stock worth $39,808,000 after acquiring an additional 45,552 shares during the period. Finally, Corebridge Financial Inc. raised its stake in Deckers Outdoor by 12.4% during the 4th quarter. Corebridge Financial Inc. now owns 45,651 shares of the textile maker’s stock worth $9,271,000 after acquiring an additional 5,028 shares during the period. Institutional investors own 97.79% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on the stock. The Goldman Sachs Group reduced their price objective on shares of Deckers Outdoor from $90.00 to $87.00 and set a “sell” rating on the stock in a research report on Tuesday. Argus began coverage on shares of Deckers Outdoor in a research report on Friday, June 13th. They issued a “hold” rating on the stock. Stifel Nicolaus reduced their price target on shares of Deckers Outdoor from $185.00 to $127.00 and set a “hold” rating on the stock in a research report on Thursday, April 10th. Piper Sandler reduced their price target on shares of Deckers Outdoor from $210.00 to $100.00 and set a “neutral” rating on the stock in a research report on Friday, April 11th. Finally, KeyCorp restated a “sector weight” rating and issued a $150.00 price target on shares of Deckers Outdoor in a research report on Friday, May 23rd. One research analyst has rated the stock with a sell rating, fourteen have given a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $132.45.

Insiders Place Their Bets

In other news, Director Maha Saleh Ibrahim sold 300 shares of Deckers Outdoor stock in a transaction on 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 in the company, valued at $1,165,083.48. The trade was a 2.73% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Cindy L. Davis purchased 1,825 shares of Deckers Outdoor stock in a transaction dated Friday, June 6th. The shares were bought at an average price of $109.76 per share, for a total transaction of $200,312.00. Following the acquisition, the director owned 13,340 shares in the company, valued at approximately $1,464,198.40. This trade 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 currently owned by corporate insiders.

Deckers Outdoor Trading Up 2.3%

DECK opened at $108.14 on Thursday. The firm has a market capitalization of $16.16 billion, a PE ratio of 17.05, a P/E/G ratio of 6.93 and a beta of 0.99. The firm has a 50 day moving average of $106.87 and a two-hundred day moving average of $131.06. Deckers Outdoor Corporation has a 12-month low of $93.72 and a 12-month high of $223.98.

Deckers Outdoor (NYSE:DECK) last posted its earnings results on Thursday, May 22nd. The textile maker reported $1.00 earnings per share 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 firm had revenue of $1.02 billion during the quarter, compared to analyst estimates of $1.01 billion. During the same period in the previous year, the firm earned $0.82 EPS. The business’s quarterly revenue was up 6.5% on a year-over-year basis. 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 initiated a stock repurchase plan on Thursday, May 22nd that authorizes the company to repurchase $2.25 billion in outstanding shares. This repurchase authorization authorizes the textile maker to purchase up to 11.7% of its stock through open market purchases. Stock repurchase plans are often an indication that the company’s management believes its shares are undervalued.

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.