Wedbush Securities Inc. Decreases Stake in Deckers Outdoor Co. (NYSE:DECK)

Wedbush Securities Inc. decreased its holdings in Deckers Outdoor Co. (NYSE:DECK) by 7.5% during the 4th quarter, HoldingsChannel reports. The institutional investor owned 8,338 shares of the textile maker’s stock after selling 674 shares during the quarter. Wedbush Securities Inc.’s holdings in Deckers Outdoor were worth $1,693,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. State Street Corp lifted its position in Deckers Outdoor by 513.8% during the 3rd quarter. State Street Corp now owns 6,584,305 shares of the textile maker’s stock worth $1,049,867,000 after acquiring an additional 5,511,513 shares in the last quarter. Geode Capital Management LLC lifted its position in shares of Deckers Outdoor by 509.1% during the third quarter. Geode Capital Management LLC now owns 4,059,919 shares of the textile maker’s stock worth $646,316,000 after purchasing an additional 3,393,420 shares in the last quarter. Norges Bank purchased a new position in shares of Deckers Outdoor in the fourth quarter valued at $392,583,000. JPMorgan Chase & Co. grew its holdings in Deckers Outdoor by 929.0% during the 3rd quarter. JPMorgan Chase & Co. now owns 1,296,894 shares of the textile maker’s stock valued at $206,790,000 after purchasing an additional 1,170,855 shares in the last quarter. Finally, Raymond James Financial Inc. purchased a new stake in Deckers Outdoor during the 4th quarter worth $185,451,000. 97.79% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In related news, Director Maha Saleh Ibrahim sold 300 shares of the company’s stock in a transaction dated Thursday, March 6th. The shares were sold at an average price of $134.48, for a total value of $40,344.00. Following the completion of the sale, 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 ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director David Powers sold 25,000 shares of the firm’s stock in a transaction dated 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 transaction, the director now directly owns 241,777 shares in the company, valued at approximately $33,568,318.68. The trade was a 9.37 % decrease in their position. 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 $106.04 on Friday. Deckers Outdoor Co. has a 12-month low of $93.72 and a 12-month high of $223.98. The business has a 50 day simple moving average of $142.96 and a 200 day simple moving average of $169.76. The firm has a market capitalization of $16.09 billion, a P/E ratio of 17.19, a P/E/G ratio of 1.68 and a beta of 1.10.

Deckers Outdoor (NYSE:DECK) last released its quarterly earnings results on Thursday, February 6th. The textile maker reported $3.00 EPS for the quarter, topping the consensus estimate of $2.44 by $0.56. Deckers Outdoor had a net margin of 19.14% and a return on equity of 41.71%. Research analysts anticipate that Deckers Outdoor Co. will post 5.89 EPS for the current fiscal year.

Analyst Ratings Changes

Several analysts have recently weighed in on the company. Wells Fargo & Company lowered their target price on Deckers Outdoor from $215.00 to $210.00 and set an “equal weight” rating for the company in a research note on Friday, January 31st. Evercore ISI lifted their price objective on Deckers Outdoor from $195.00 to $235.00 and gave the stock an “outperform” rating in a report on Thursday, January 9th. Guggenheim reiterated a “neutral” rating on shares of Deckers Outdoor in a research note on Friday, January 31st. Telsey Advisory Group restated an “outperform” rating and issued a $240.00 price target on shares of Deckers Outdoor in a research note on Friday, January 31st. Finally, UBS Group increased their price objective on shares of Deckers Outdoor from $267.00 to $284.00 and gave the company a “buy” rating in a research note on Friday, January 31st. Nine equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $197.41.

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.