Pitcairn Co. cut its position in Deckers Outdoor Corp (NYSE:DECK) by 20.5% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,485 shares of the textile maker’s stock after selling 382 shares during the quarter. Pitcairn Co.’s holdings in Deckers Outdoor were worth $292,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds have also recently modified their holdings of DECK. Royal Bank of Canada raised its stake in shares of Deckers Outdoor by 57.8% during the 1st quarter. Royal Bank of Canada now owns 37,251 shares of the textile maker’s stock valued at $4,992,000 after purchasing an additional 13,651 shares during the period. Advisor Group Holdings Inc. bought a new stake in shares of Deckers Outdoor during the 1st quarter valued at $1,255,000. The Manufacturers Life Insurance Company raised its stake in shares of Deckers Outdoor by 1.9% during the 1st quarter. The Manufacturers Life Insurance Company now owns 56,982 shares of the textile maker’s stock valued at $7,636,000 after purchasing an additional 1,070 shares during the period. Louisiana State Employees Retirement System raised its stake in shares of Deckers Outdoor by 2.9% during the 2nd quarter. Louisiana State Employees Retirement System now owns 7,000 shares of the textile maker’s stock valued at $1,375,000 after purchasing an additional 200 shares during the period. Finally, Northwestern Mutual Investment Management Company LLC grew its position in Deckers Outdoor by 21.6% during the first quarter. Northwestern Mutual Investment Management Company LLC now owns 9,718 shares of the textile maker’s stock worth $1,302,000 after buying an additional 1,727 shares in the last quarter. Hedge funds and other institutional investors own 99.90% of the company’s stock.
Several research firms recently commented on DECK. Susquehanna Bancshares restated a “buy” rating and set a $250.00 target price on shares of Deckers Outdoor in a research report on Thursday. Pivotal Research boosted their target price on Deckers Outdoor from $200.00 to $225.00 and gave the stock a “buy” rating in a research report on Monday, July 27th. Cowen began coverage on Deckers Outdoor in a research report on Wednesday, June 3rd. They set an “outperform” rating and a $220.00 target price for the company. Telsey Advisory Group reduced their target price on Deckers Outdoor from $205.00 to $168.00 and set an “outperform” rating for the company in a research report on Monday, May 18th. Finally, Bank of America boosted their target price on Deckers Outdoor from $210.00 to $215.00 and gave the stock a “buy” rating in a research report on Wednesday, May 20th. Three investment analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. Deckers Outdoor has an average rating of “Buy” and a consensus price target of $210.13.
In related news, COO David E. Lafitte sold 500 shares of the firm’s stock in a transaction that occurred on Thursday, May 28th. The stock was sold at an average price of $194.24, for a total transaction of $97,120.00. Following the transaction, the chief operating officer now directly owns 29,578 shares in the company, valued at approximately $5,745,230.72. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, SVP Thomas Garcia sold 1,000 shares of the firm’s stock in a transaction that occurred on Wednesday, July 29th. The stock was sold at an average price of $219.00, for a total value of $219,000.00. Following the transaction, the senior vice president now owns 18,617 shares in the company, valued at $4,077,123. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 22,700 shares of company stock worth $4,766,505. 0.90% of the stock is owned by corporate insiders.
DECK opened at $209.25 on Friday. The stock has a 50-day moving average price of $197.97 and a 200-day moving average price of $170.89. Deckers Outdoor Corp has a 12-month low of $78.70 and a 12-month high of $220.36. The company has a current ratio of 3.97, a quick ratio of 2.93 and a debt-to-equity ratio of 0.22. The stock has a market capitalization of $5.86 billion, a P/E ratio of 20.64, a PEG ratio of 1.53 and a beta of 0.99.
Deckers Outdoor (NYSE:DECK) last posted its quarterly earnings results on Thursday, July 30th. The textile maker reported ($0.28) earnings per share (EPS) for the quarter, topping the consensus estimate of ($1.11) by $0.83. Deckers Outdoor had a return on equity of 27.12% and a net margin of 13.44%. The business had revenue of $283.17 million for the quarter, compared to analyst estimates of $264.52 million. On average, equities research analysts predict that Deckers Outdoor Corp will post 8.37 EPS for the current year.
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. It offers premium footwear, apparel, and accessories under the UGG brand name; sandals, shoes, and boots under the Teva brand name; and footwear under the Sanuk brand name.
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