Maryland State Retirement & Pension System Sells 1,008 Shares of Deckers Outdoor Corporation (NYSE:DECK)

Maryland State Retirement & Pension System lessened its holdings in Deckers Outdoor Corporation (NYSE:DECK) by 12.4% during the first quarter, Holdings Channel.com reports. The firm owned 7,090 shares of the textile maker’s stock after selling 1,008 shares during the quarter. Maryland State Retirement & Pension System’s holdings in Deckers Outdoor were worth $793,000 at the end of the most recent quarter.

A number of other large investors also recently added to or reduced their stakes in the business. Revolve Wealth Partners LLC purchased a new position in shares of Deckers Outdoor in the fourth quarter valued at about $247,000. Rockefeller Capital Management L.P. purchased a new position in shares of Deckers Outdoor in the fourth quarter valued at about $3,567,000. Mariner LLC increased its position in shares of Deckers Outdoor by 9.3% in the fourth quarter. Mariner LLC now owns 59,991 shares of the textile maker’s stock valued at $12,184,000 after acquiring an additional 5,099 shares during the period. XTX Topco Ltd purchased a new position in shares of Deckers Outdoor in the fourth quarter valued at about $858,000. Finally, Canada Post Corp Registered Pension Plan purchased a new position in shares of Deckers Outdoor in the fourth quarter valued at about $536,000. Hedge funds and other institutional investors own 97.79% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on DECK. Needham & Company LLC reiterated a “buy” rating and set a $128.00 price target (up previously from $120.00) on shares of Deckers Outdoor in a research report on Wednesday, July 23rd. Raymond James Financial increased their price target on shares of Deckers Outdoor from $123.00 to $137.00 and gave the stock a “strong-buy” rating in a research note on Friday, July 25th. Evercore ISI increased their price target on shares of Deckers Outdoor from $110.00 to $115.00 and gave the stock an “in-line” rating in a research note on Friday, July 25th. UBS Group increased their price target on shares of Deckers Outdoor from $144.00 to $158.00 and gave the stock a “buy” rating in a research note on Friday, July 25th. Finally, Wells Fargo & Company increased their price target on shares of Deckers Outdoor from $90.00 to $100.00 and gave the stock an “equal weight” rating in a research note on Friday, July 25th. One investment analyst has rated the stock with a sell rating, fourteen have given a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, Deckers Outdoor has an average rating of “Hold” and a consensus target price of $137.50.

Insider Transactions at Deckers Outdoor

In related news, insider Angela Ogbechie sold 6,244 shares of the stock in a transaction that occurred on Monday, June 2nd. The shares were sold at an average price of $103.89, for a total transaction of $648,689.16. Following the transaction, the insider owned 19,980 shares in the company, valued at $2,075,722.20. This represents a 23.81% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Maha Saleh Ibrahim sold 300 shares of the stock in a transaction that occurred on Friday, June 6th. The shares were sold at an average price of $109.08, for a total transaction of $32,724.00. Following the transaction, the director owned 10,681 shares in the company, valued at approximately $1,165,083.48. This trade represents a 2.73% decrease in their position. The disclosure for this sale can be found here. Insiders own 0.40% of the company’s stock.

Deckers Outdoor Stock Performance

Shares of NYSE DECK opened at $103.71 on Wednesday. The firm’s 50 day moving average price is $104.68 and its 200-day moving average price is $120.48. The company has a market cap of $15.38 billion, a PE ratio of 15.91, a P/E/G ratio of 3.82 and a beta of 0.99. Deckers Outdoor Corporation has a 52-week low of $93.72 and a 52-week high of $223.98.

Deckers Outdoor (NYSE:DECK) last issued its earnings results on Thursday, July 24th. The textile maker reported $0.93 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.68 by $0.25. The firm had revenue of $964.54 million for the quarter, compared to the consensus estimate of $901.45 million. Deckers Outdoor had a net margin of 19.42% and a return on equity of 40.49%. The business’s revenue was up 16.9% on a year-over-year basis. During the same quarter in the prior year, the firm posted $4.52 earnings per share. On average, analysts forecast that Deckers Outdoor Corporation will post 5.89 earnings per share for the current fiscal year.

Deckers Outdoor declared that its Board of Directors has authorized a share buyback plan on Thursday, May 22nd that authorizes the company to buyback $2.25 billion in outstanding shares. This buyback authorization authorizes the textile maker to buy up to 11.7% of its stock through open market purchases. Stock buyback plans are usually an indication that the company’s leadership 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 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.