Penobscot Investment Management Company Inc. Cuts Stock Holdings in Deckers Outdoor Co. (NYSE:DECK)

Penobscot Investment Management Company Inc. lessened its position in Deckers Outdoor Co. (NYSE:DECK) by 1.1% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 31,646 shares of the textile maker’s stock after selling 340 shares during the quarter. Penobscot Investment Management Company Inc.’s holdings in Deckers Outdoor were worth $6,427,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Resonant Capital Advisors LLC lifted its stake in Deckers Outdoor by 2.2% in the 4th quarter. Resonant Capital Advisors LLC now owns 2,408 shares of the textile maker’s stock worth $489,000 after purchasing an additional 52 shares in the last quarter. Bleakley Financial Group LLC lifted its position in Deckers Outdoor by 3.9% during the fourth quarter. Bleakley Financial Group LLC now owns 1,444 shares of the textile maker’s stock worth $293,000 after buying an additional 54 shares in the last quarter. Mather Group LLC. boosted its stake in Deckers Outdoor by 2.6% during the fourth quarter. Mather Group LLC. now owns 2,567 shares of the textile maker’s stock worth $521,000 after buying an additional 64 shares during the last quarter. Prosperity Wealth Management Inc. grew its holdings in Deckers Outdoor by 2.8% in the 4th quarter. Prosperity Wealth Management Inc. now owns 2,777 shares of the textile maker’s stock valued at $564,000 after buying an additional 75 shares in the last quarter. Finally, WD Rutherford LLC raised its holdings in shares of Deckers Outdoor by 4.8% during the 4th quarter. WD Rutherford LLC now owns 1,735 shares of the textile maker’s stock worth $352,000 after acquiring an additional 79 shares during the period. 97.79% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

DECK has been the subject of several recent analyst reports. Bank of America raised their price objective on shares of Deckers Outdoor from $182.00 to $217.00 and gave the stock a “neutral” rating in a research report on Thursday, January 23rd. Guggenheim restated a “neutral” rating on shares of Deckers Outdoor in a report on Friday, January 31st. Wells Fargo & Company decreased their price objective on Deckers Outdoor from $215.00 to $210.00 and set an “equal weight” rating on the stock in a report on Friday, January 31st. UBS Group raised their target price on Deckers Outdoor from $267.00 to $284.00 and gave the stock a “buy” rating in a research note on Friday, January 31st. Finally, Stifel Nicolaus upped their price target on Deckers Outdoor from $181.00 to $185.00 and gave the company a “hold” rating in a research note on Friday, January 31st. Nine investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $197.41.

Insider Activity at Deckers Outdoor

In related news, Director David Powers sold 25,000 shares of Deckers Outdoor stock in a transaction on Friday, February 28th. The shares were sold at an average price of $138.84, for a total transaction of $3,471,000.00. Following the sale, the director now directly owns 241,777 shares in the company, valued at $33,568,318.68. This trade represents a 9.37 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Maha Saleh Ibrahim sold 300 shares of the company’s stock in a transaction on Thursday, March 6th. The shares were sold at an average price of $134.48, for a total transaction of $40,344.00. Following the completion of the transaction, the director now owns 10,388 shares of the company’s stock, valued at $1,396,978.24. This represents a 2.81 % decrease in their position. The disclosure for this sale can be found here. 0.40% of the stock is currently owned by corporate insiders.

Deckers Outdoor Trading Down 1.6 %

Shares of NYSE DECK opened at $122.68 on Wednesday. Deckers Outdoor Co. has a 12-month low of $112.10 and a 12-month high of $223.98. The stock has a market cap of $18.62 billion, a P/E ratio of 19.89, a PEG ratio of 1.68 and a beta of 1.10. The business’s fifty day simple moving average is $158.97 and its 200-day simple moving average is $167.73.

Deckers Outdoor (NYSE:DECK) last announced its quarterly earnings data on Thursday, February 6th. The textile maker reported $3.00 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.44 by $0.56. Deckers Outdoor had a return on equity of 41.71% and a net margin of 19.14%. On average, equities analysts forecast that Deckers Outdoor Co. will post 5.89 EPS for the current fiscal year.

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.