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

Wedbush Securities Inc. reduced its holdings in shares of Deckers Outdoor Co. (NYSE:DECK) by 7.5% during the 4th quarter, according to its most recent 13F filing with the SEC. The fund owned 8,338 shares of the textile maker’s stock after selling 674 shares during the period. Wedbush Securities Inc.’s holdings in Deckers Outdoor were worth $1,693,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently bought and sold shares of the business. Public Sector Pension Investment Board increased its position in Deckers Outdoor by 605.5% in the 3rd quarter. Public Sector Pension Investment Board now owns 6,688 shares of the textile maker’s stock valued at $1,066,000 after acquiring an additional 5,740 shares during the period. Captrust Financial Advisors increased its holdings in shares of Deckers Outdoor by 431.6% in the third quarter. Captrust Financial Advisors now owns 7,362 shares of the textile maker’s stock valued at $1,174,000 after purchasing an additional 5,977 shares during the period. Benjamin Edwards Inc. raised its stake in shares of Deckers Outdoor by 32,965.2% during the third quarter. Benjamin Edwards Inc. now owns 7,605 shares of the textile maker’s stock worth $1,213,000 after purchasing an additional 7,582 shares during the last quarter. Hilltop Holdings Inc. acquired a new stake in shares of Deckers Outdoor during the third quarter worth $453,000. Finally, HighTower Advisors LLC grew its position in Deckers Outdoor by 271.5% in the 3rd quarter. HighTower Advisors LLC now owns 49,488 shares of the textile maker’s stock valued at $7,975,000 after buying an additional 36,167 shares during the last quarter. 97.79% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, Director David Powers sold 25,000 shares of the stock in a transaction dated Friday, February 28th. The stock was 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. This represents a 9.37 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director Maha Saleh Ibrahim sold 300 shares of Deckers Outdoor 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 trade represents a 2.81 % decrease in their position. The disclosure for this sale can be found here. 0.40% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on the stock. Truist Financial reduced their target price on shares of Deckers Outdoor from $235.00 to $225.00 and set a “buy” rating for the company in a research note on Friday, January 31st. Telsey Advisory Group reaffirmed an “outperform” rating and issued a $240.00 price objective on shares of Deckers Outdoor in a report on Friday, January 31st. Citigroup raised Deckers Outdoor from a “neutral” rating to a “buy” rating and set a $215.00 target price for the company in a research note on Friday, February 7th. Stifel Nicolaus upped their price objective on Deckers Outdoor from $181.00 to $185.00 and gave the stock a “hold” rating in a report on Friday, January 31st. Finally, UBS Group raised their target price on Deckers Outdoor from $267.00 to $284.00 and gave the company a “buy” rating in a report on Friday, January 31st. Nine research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $197.41.

Deckers Outdoor Stock Up 5.1 %

Shares of NYSE:DECK opened at $106.04 on Friday. The company 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. The stock’s fifty day simple moving average is $142.96 and its 200-day simple moving average is $169.76. Deckers Outdoor Co. has a 52-week low of $93.72 and a 52-week high of $223.98.

Deckers Outdoor (NYSE:DECK) last released its earnings results on Thursday, February 6th. The textile maker reported $3.00 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.44 by $0.56. Deckers Outdoor had a net margin of 19.14% and a return on equity of 41.71%. On average, sell-side analysts anticipate that Deckers Outdoor Co. will post 5.89 earnings per share for the current year.

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.