Retirement Systems of Alabama Increases Stake in Deckers Outdoor Co. (NYSE:DECK)

Retirement Systems of Alabama raised its holdings in shares of Deckers Outdoor Co. (NYSE:DECK) by 3,428.6% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 199,753 shares of the textile maker’s stock after buying an additional 194,092 shares during the quarter. Retirement Systems of Alabama’s holdings in Deckers Outdoor were worth $31,851,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of DECK. Ashton Thomas Private Wealth LLC purchased a new stake in shares of Deckers Outdoor in the second quarter valued at about $63,000. Solstein Capital LLC increased its holdings in shares of Deckers Outdoor by 500.0% during the 3rd quarter. Solstein Capital LLC now owns 162 shares of the textile maker’s stock worth $26,000 after buying an additional 135 shares during the last quarter. Bell Investment Advisors Inc raised its position in shares of Deckers Outdoor by 521.4% during the 3rd quarter. Bell Investment Advisors Inc now owns 174 shares of the textile maker’s stock valued at $28,000 after buying an additional 146 shares during the period. Inspire Advisors LLC acquired a new position in Deckers Outdoor in the second quarter valued at approximately $202,000. Finally, Loring Wolcott & Coolidge Fiduciary Advisors LLP MA grew its position in Deckers Outdoor by 2,000.0% in the third quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA now owns 210 shares of the textile maker’s stock worth $32,000 after acquiring an additional 200 shares during the period. 97.79% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, insider Angela Ogbechie sold 1,278 shares of the company’s stock in a transaction on Thursday, October 31st. The shares were sold at an average price of $163.24, for a total value of $208,620.72. Following the completion of the sale, the insider now owns 29,628 shares in the company, valued at $4,836,474.72. This represents a 4.14 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Steven J. Fasching sold 9,198 shares of the stock in a transaction on Friday, October 4th. The stock was sold at an average price of $166.67, for a total transaction of $1,533,030.66. Following the sale, the chief financial officer now owns 161,838 shares of the company’s stock, valued at approximately $26,973,539.46. This represents a 5.38 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 84,234 shares of company stock worth $15,248,513 in the last ninety days. 0.40% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

DECK has been the topic of several recent analyst reports. Evercore ISI upped their price target on Deckers Outdoor from $185.00 to $195.00 and gave the company an “outperform” rating in a research note on Friday, October 25th. Robert W. Baird lifted their price target on shares of Deckers Outdoor from $195.00 to $225.00 and gave the company an “outperform” rating in a research report on Friday, December 6th. KeyCorp upped their price objective on shares of Deckers Outdoor from $190.00 to $213.00 and gave the stock an “overweight” rating in a report on Friday, December 6th. BTIG Research downgraded shares of Deckers Outdoor from a “buy” rating to a “neutral” rating in a report on Tuesday, October 22nd. Finally, TD Cowen upped their price target on Deckers Outdoor from $178.00 to $185.00 and gave the stock a “buy” rating in a research note on Friday, October 25th. Nine 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 currently has a consensus rating of “Moderate Buy” and a consensus target price of $158.59.

Deckers Outdoor Trading Down 1.3 %

Deckers Outdoor stock opened at $203.09 on Thursday. The stock has a market cap of $30.85 billion, a P/E ratio of 35.71, a price-to-earnings-growth ratio of 2.87 and a beta of 1.08. The company has a fifty day simple moving average of $189.28 and a 200-day simple moving average of $108.76. Deckers Outdoor Co. has a 12-month low of $108.65 and a 12-month high of $214.70.

Deckers Outdoor (NYSE:DECK) last announced its quarterly earnings results on Thursday, October 24th. The textile maker reported $1.59 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.24 by $0.35. The firm had revenue of $1.31 billion during the quarter, compared to the consensus estimate of $1.20 billion. Deckers Outdoor had a return on equity of 41.48% and a net margin of 18.95%. The firm’s quarterly revenue was up 20.1% compared to the same quarter last year. During the same period in the prior year, the company posted $1.14 earnings per share. As a group, sell-side analysts forecast that Deckers Outdoor Co. will post 5.49 earnings per share for the current fiscal year.

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.