Arizona State Retirement System Sells 349 Shares of Deckers Outdoor Corporation (NYSE:DECK)

Arizona State Retirement System reduced its stake in Deckers Outdoor Corporation (NYSE:DECK) by 0.8% during the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 43,934 shares of the textile maker’s stock after selling 349 shares during the period. Arizona State Retirement System’s holdings in Deckers Outdoor were worth $4,912,000 at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. Mpwm Advisory Solutions LLC acquired a new position in Deckers Outdoor in the fourth quarter valued at about $26,000. Headlands Technologies LLC acquired a new position in Deckers Outdoor in the fourth quarter valued at about $29,000. Vega Investment Solutions acquired a new position in Deckers Outdoor in the fourth quarter valued at about $29,000. Whittier Trust Co. of Nevada Inc. grew its stake in Deckers Outdoor by 250.0% in the fourth quarter. Whittier Trust Co. of Nevada Inc. now owns 168 shares of the textile maker’s stock valued at $34,000 after acquiring an additional 120 shares during the period. Finally, Fourth Dimension Wealth LLC acquired a new position in Deckers Outdoor in the fourth quarter valued at about $41,000. Institutional investors and hedge funds own 97.79% of the company’s stock.

Insider Transactions at Deckers Outdoor

In other news, insider Angela Ogbechie sold 6,244 shares of the business’s stock in a transaction that occurred on Monday, June 2nd. The stock was sold at an average price of $103.89, for a total transaction of $648,689.16. Following the completion of the sale, the insider owned 19,980 shares in the company, valued at $2,075,722.20. The trade was a 23.81% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Maha Saleh Ibrahim sold 300 shares of the business’s stock in a transaction that occurred on 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 approximately $1,165,083.48. This represents a 2.73% decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.40% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have issued reports on the company. Cowen reissued a “buy” rating on shares of Deckers Outdoor in a research note on Tuesday, May 20th. Evercore ISI reissued an “in-line” rating and issued a $110.00 price target (down previously from $235.00) on shares of Deckers Outdoor in a research note on Friday, May 23rd. KGI Securities raised Deckers Outdoor to a “hold” rating in a research note on Monday, May 26th. Argus started coverage on Deckers Outdoor in a research report on Friday, June 13th. They issued a “hold” rating on the stock. Finally, The Goldman Sachs Group started coverage on Deckers Outdoor in a research report on Wednesday, July 2nd. They issued a “sell” rating and a $90.00 target price on the stock. One equities research analyst has rated the stock with a sell rating, fourteen have assigned a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $137.66.

Deckers Outdoor Stock Performance

Deckers Outdoor stock opened at $95.45 on Wednesday. Deckers Outdoor Corporation has a 52 week low of $93.72 and a 52 week high of $223.98. The stock has a market capitalization of $14.26 billion, a P/E ratio of 15.05, a PEG ratio of 5.98 and a beta of 0.99. The stock has a 50-day simple moving average of $109.49 and a 200 day simple moving average of $134.78.

Deckers Outdoor (NYSE:DECK) last posted its quarterly earnings results on Thursday, May 22nd. The textile maker reported $1.00 EPS for the quarter, topping analysts’ consensus estimates of $0.57 by $0.43. Deckers Outdoor had a return on equity of 41.17% and a net margin of 19.49%. The business had revenue of $1.02 billion during the quarter, compared to analysts’ expectations of $1.01 billion. During the same quarter last year, the company posted $0.82 earnings per share. Deckers Outdoor’s quarterly revenue was up 6.5% on a year-over-year basis. Research analysts forecast that Deckers Outdoor Corporation will post 5.89 earnings per share for the current year.

Deckers Outdoor announced that its Board of Directors has initiated a share repurchase program on Thursday, May 22nd that permits the company to buyback $2.25 billion in shares. This buyback authorization permits the textile maker to buy up to 11.7% of its stock through open market purchases. Stock buyback programs are typically an indication that the company’s leadership believes its stock is 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 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.