Deckers Outdoor Corporation (NYSE:DECK) Shares Sold by Atria Wealth Solutions Inc.

Atria Wealth Solutions Inc. cut its stake in shares of Deckers Outdoor Corporation (NYSE:DECK) by 42.2% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 3,818 shares of the textile maker’s stock after selling 2,788 shares during the quarter. Atria Wealth Solutions Inc.’s holdings in Deckers Outdoor were worth $427,000 as of its most recent SEC filing.

Other hedge funds have also recently modified their holdings of the company. Marks Group Wealth Management Inc raised its position in Deckers Outdoor by 15.4% in the first quarter. Marks Group Wealth Management Inc now owns 62,902 shares of the textile maker’s stock worth $7,033,000 after acquiring an additional 8,410 shares in the last quarter. Cambridge Investment Research Advisors Inc. raised its position in Deckers Outdoor by 17.9% in the first quarter. Cambridge Investment Research Advisors Inc. now owns 17,864 shares of the textile maker’s stock worth $1,997,000 after acquiring an additional 2,706 shares in the last quarter. Park Avenue Securities LLC raised its position in Deckers Outdoor by 32.3% in the first quarter. Park Avenue Securities LLC now owns 26,929 shares of the textile maker’s stock worth $3,011,000 after acquiring an additional 6,569 shares in the last quarter. Principal Financial Group Inc. raised its position in Deckers Outdoor by 17.7% in the first quarter. Principal Financial Group Inc. now owns 587,747 shares of the textile maker’s stock worth $65,716,000 after acquiring an additional 88,179 shares in the last quarter. Finally, Kentucky Retirement Systems Insurance Trust Fund purchased a new position in Deckers Outdoor in the first quarter worth $493,000. 97.79% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of brokerages have recently weighed in on DECK. 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. Raymond James Financial raised their price target on Deckers Outdoor from $123.00 to $137.00 and gave the company a “strong-buy” rating in a research report on Friday, July 25th. Robert W. Baird raised their price target on Deckers Outdoor from $140.00 to $150.00 and gave the company an “outperform” rating in a research report on Friday, July 25th. Citigroup dropped their price target on Deckers Outdoor from $215.00 to $150.00 and set a “buy” rating for the company in a research report on Monday, April 28th. Finally, Cowen restated a “buy” rating on shares of Deckers Outdoor in a research report on Tuesday, May 20th. One investment analyst has rated the stock with a sell rating, fourteen have issued a hold rating, nine have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the company has a consensus rating of “Hold” and an average target price of $137.50.

Insider Transactions at Deckers Outdoor

In other news, Director Cindy L. Davis bought 1,825 shares of the firm’s stock in a transaction dated Friday, June 6th. The stock was acquired 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 of the company’s stock, valued at $1,464,198.40. This trade represents a 15.85% increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. 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 sale, the director owned 10,681 shares of the company’s stock, valued at $1,165,083.48. The trade was a 2.73% decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.40% of the company’s stock.

Deckers Outdoor Stock Performance

Shares of NYSE:DECK opened at $103.81 on Friday. Deckers Outdoor Corporation has a 1 year low of $93.72 and a 1 year high of $223.98. The stock has a market capitalization of $15.40 billion, a P/E ratio of 15.92, a PEG ratio of 4.04 and a beta of 0.99. The stock has a 50-day simple moving average of $104.61 and a 200-day simple moving average of $119.64.

Deckers Outdoor (NYSE:DECK) last issued its earnings results on Thursday, July 24th. The textile maker reported $0.93 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.68 by $0.25. Deckers Outdoor had a return on equity of 40.49% and a net margin of 19.42%. The business had revenue of $964.54 million during the quarter, compared to analysts’ expectations of $901.45 million. During the same quarter in the previous year, the business earned $4.52 EPS. The company’s revenue for the quarter was up 16.9% on a year-over-year basis. Analysts predict that Deckers Outdoor Corporation will post 5.89 earnings per share for the current year.

Deckers Outdoor announced that its board has initiated a share repurchase plan on Thursday, May 22nd that permits the company to buyback $2.25 billion in outstanding shares. This buyback authorization permits the textile maker to reacquire up to 11.7% of its stock through open market purchases. Stock buyback plans are typically a sign that the company’s leadership believes its stock is undervalued.

Deckers Outdoor 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.