Covenant Asset Management LLC Sells 46 Shares of Deckers Outdoor Co. (NYSE:DECK)

Covenant Asset Management LLC lessened its holdings in Deckers Outdoor Co. (NYSE:DECK) by 0.7% during the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 6,767 shares of the textile maker’s stock after selling 46 shares during the period. Covenant Asset Management LLC’s holdings in Deckers Outdoor were worth $3,571,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Teacher Retirement System of Texas raised its stake in Deckers Outdoor by 1.6% during the 4th quarter. Teacher Retirement System of Texas now owns 8,670 shares of the textile maker’s stock worth $3,461,000 after acquiring an additional 137 shares during the period. Robeco Institutional Asset Management B.V. purchased a new stake in Deckers Outdoor during the 1st quarter valued at approximately $22,148,000. Dark Forest Capital Management LP purchased a new stake in Deckers Outdoor during the 4th quarter valued at approximately $420,000. Citigroup Inc. grew its holdings in Deckers Outdoor by 10.7% during the 1st quarter. Citigroup Inc. now owns 16,348 shares of the textile maker’s stock valued at $7,349,000 after buying an additional 1,581 shares in the last quarter. Finally, Raymond James & Associates grew its holdings in Deckers Outdoor by 81.5% during the 1st quarter. Raymond James & Associates now owns 14,471 shares of the textile maker’s stock valued at $6,505,000 after buying an additional 6,496 shares in the last quarter. Institutional investors own 95.69% of the company’s stock.

Insider Activity

In other news, insider Thomas Garcia sold 3,595 shares of the company’s stock in a transaction dated Thursday, September 7th. The shares were sold at an average price of $516.73, for a total transaction of $1,857,644.35. Following the transaction, the insider now owns 16,457 shares in the company, valued at $8,503,825.61. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 0.70% of the company’s stock.

Deckers Outdoor Price Performance

Shares of DECK stock traded down $1.19 during mid-day trading on Tuesday, hitting $525.07. 26,816 shares of the stock traded hands, compared to its average volume of 396,315. The stock has a market cap of $13.72 billion, a P/E ratio of 26.12, a P/E/G ratio of 1.31 and a beta of 0.92. The stock’s fifty day moving average is $542.07 and its two-hundred day moving average is $497.73. Deckers Outdoor Co. has a 52-week low of $298.61 and a 52-week high of $568.47.

Deckers Outdoor (NYSE:DECK) last posted its quarterly earnings data on Thursday, July 27th. The textile maker reported $2.41 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.16 by $0.25. Deckers Outdoor had a net margin of 14.33% and a return on equity of 30.85%. The firm had revenue of $675.79 million for the quarter, compared to the consensus estimate of $666.95 million. During the same quarter in the prior year, the company posted $1.66 earnings per share. The company’s revenue for the quarter was up 10.0% compared to the same quarter last year. As a group, equities analysts forecast that Deckers Outdoor Co. will post 22.4 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on DECK. TD Cowen increased their price objective on shares of Deckers Outdoor from $564.00 to $618.00 and gave the company an “outperform” rating in a report on Tuesday, August 15th. Citigroup increased their price objective on shares of Deckers Outdoor from $515.00 to $665.00 and gave the company a “buy” rating in a report on Friday, July 21st. Stifel Nicolaus increased their price objective on shares of Deckers Outdoor from $550.00 to $600.00 and gave the company a “buy” rating in a report on Friday, July 28th. Robert W. Baird raised their target price on shares of Deckers Outdoor from $575.00 to $620.00 and gave the company an “outperform” rating in a report on Friday, July 28th. Finally, Telsey Advisory Group reissued an “outperform” rating and issued a $615.00 target price on shares of Deckers Outdoor in a report on Friday, July 28th. Two analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $577.64.

Deckers Outdoor Company 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 and apparel for ultra-runners and athletes under the Hoka brand; and sandals, shoes, and boots under the Teva brand name.