Psagot Value Holdings Ltd. Israel reduced its holdings in Deckers Outdoor Co. (NYSE:DECK – Get Rating) by 29.9% in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 2,114 shares of the textile maker’s stock after selling 900 shares during the quarter. Psagot Value Holdings Ltd. Israel’s holdings in Deckers Outdoor were worth $579,000 at the end of the most recent quarter.
A number of other hedge funds have also added to or reduced their stakes in DECK. Endurance Wealth Management Inc. bought a new stake in Deckers Outdoor in the first quarter worth approximately $27,000. UMB Bank N A MO bought a new stake in Deckers Outdoor in the fourth quarter worth approximately $36,000. Allworth Financial LP grew its stake in Deckers Outdoor by 15,500.0% in the first quarter. Allworth Financial LP now owns 156 shares of the textile maker’s stock valued at $43,000 after acquiring an additional 155 shares during the period. Meeder Asset Management Inc. acquired a new stake in Deckers Outdoor in the first quarter valued at approximately $43,000. Finally, Quadrant Capital Group LLC grew its stake in Deckers Outdoor by 187.1% in the first quarter. Quadrant Capital Group LLC now owns 178 shares of the textile maker’s stock valued at $49,000 after acquiring an additional 116 shares during the period. 97.45% of the stock is currently owned by institutional investors.
Analysts Set New Price Targets
A number of equities research analysts have commented on DECK shares. BTIG Research reduced their price objective on Deckers Outdoor from $487.00 to $477.00 and set a “buy” rating for the company in a research note on Thursday, July 21st. Jefferies Financial Group cut Deckers Outdoor from a “buy” rating to a “hold” rating and reduced their price objective for the company from $350.00 to $300.00 in a research note on Monday, August 1st. Wells Fargo & Company initiated coverage on Deckers Outdoor in a research note on Monday, June 27th. They issued an “equal weight” rating and a $280.00 price objective for the company. Stifel Nicolaus lifted their target price on Deckers Outdoor from $338.00 to $339.00 in a research report on Wednesday, July 20th. Finally, Cowen lifted their target price on Deckers Outdoor from $407.00 to $415.00 in a research report on Friday, July 29th. Four analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $383.00.
Deckers Outdoor Trading Down 0.1 %
Deckers Outdoor (NYSE:DECK – Get Rating) last posted its quarterly earnings data on Thursday, July 28th. The textile maker reported $1.66 earnings per share for the quarter, topping the consensus estimate of $1.33 by $0.33. Deckers Outdoor had a return on equity of 29.72% and a net margin of 13.76%. The business had revenue of $614.46 million for the quarter, compared to analysts’ expectations of $575.31 million. As a group, analysts forecast that Deckers Outdoor Co. will post 18.1 earnings per share for the current fiscal year.
Deckers Outdoor declared that its board has authorized a stock buyback program on Thursday, July 28th that allows the company to repurchase $1.20 billion in outstanding shares. This repurchase authorization allows the textile maker to buy up to 14.4% of its shares through open market purchases. Shares repurchase programs are typically an indication that the company’s management believes its shares are undervalued.
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. The company offers premium footwear, apparel, and accessories under the UGG brand name; sandals, shoes, and boots under the Teva brand name; and relaxed casual shoes and sandals under the Sanuk brand name.
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