NewEdge Wealth LLC Takes Position in Deckers Outdoor Co. (NYSE:DECK)

NewEdge Wealth LLC bought a new position in shares of Deckers Outdoor Co. (NYSE:DECK) in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm bought 327 shares of the textile maker’s stock, valued at approximately $219,000.

A number of other hedge funds also recently modified their holdings of the stock. BlackRock Inc. lifted its stake in shares of Deckers Outdoor by 2.2% during the 1st quarter. BlackRock Inc. now owns 2,441,017 shares of the textile maker’s stock worth $1,097,359,000 after buying an additional 51,898 shares during the last quarter. Morgan Stanley raised its stake in Deckers Outdoor by 82.6% in the 3rd quarter. Morgan Stanley now owns 1,166,394 shares of the textile maker’s stock worth $599,633,000 after purchasing an additional 527,546 shares in the last quarter. State Street Corp raised its stake in Deckers Outdoor by 15.0% in the 2nd quarter. State Street Corp now owns 838,595 shares of the textile maker’s stock worth $442,493,000 after purchasing an additional 109,341 shares in the last quarter. Invesco Ltd. raised its stake in Deckers Outdoor by 8.9% in the 3rd quarter. Invesco Ltd. now owns 456,957 shares of the textile maker’s stock worth $234,917,000 after purchasing an additional 37,194 shares in the last quarter. Finally, Wellington Management Group LLP raised its stake in Deckers Outdoor by 18.0% in the 1st quarter. Wellington Management Group LLP now owns 433,426 shares of the textile maker’s stock worth $118,658,000 after purchasing an additional 66,072 shares in the last quarter. Institutional investors and hedge funds own 97.79% of the company’s stock.

Deckers Outdoor Trading Down 0.8 %

Shares of Deckers Outdoor stock opened at $813.00 on Friday. The firm has a market capitalization of $20.87 billion, a PE ratio of 29.24, a price-to-earnings-growth ratio of 1.44 and a beta of 1.01. The firm’s 50 day moving average is $886.18 and its 200 day moving average is $732.82. Deckers Outdoor Co. has a 1 year low of $424.36 and a 1 year high of $956.17.

Deckers Outdoor (NYSE:DECK) last posted its earnings results on Thursday, February 1st. The textile maker reported $15.11 earnings per share for the quarter, topping analysts’ consensus estimates of $11.40 by $3.71. Deckers Outdoor had a net margin of 17.57% and a return on equity of 38.77%. The firm had revenue of $1.56 billion for the quarter, compared to analyst estimates of $1.45 billion. During the same period in the previous year, the firm posted $10.48 EPS. The company’s revenue for the quarter was up 16.0% compared to the same quarter last year. As a group, research analysts anticipate that Deckers Outdoor Co. will post 26.87 earnings per share for the current year.

Insiders Place Their Bets

In other news, CEO David Powers sold 5,993 shares of the company’s stock in a transaction on Monday, April 15th. The shares were sold at an average price of $824.11, for a total value of $4,938,891.23. Following the sale, the chief executive officer now directly owns 98,218 shares of the company’s stock, valued at approximately $80,942,435.98. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. In related news, CEO David Powers sold 5,993 shares of the business’s stock in a transaction on Monday, April 15th. The shares were sold at an average price of $824.11, for a total transaction of $4,938,891.23. Following the transaction, the chief executive officer now owns 98,218 shares in the company, valued at approximately $80,942,435.98. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Angela Ogbechie sold 313 shares of the business’s stock in a transaction on Friday, February 9th. The shares were sold at an average price of $844.13, for a total transaction of $264,212.69. Following the transaction, the insider now owns 4,027 shares in the company, valued at approximately $3,399,311.51. The disclosure for this sale can be found here. Insiders have sold 30,464 shares of company stock valued at $26,229,683 in the last ninety days. 0.70% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

DECK has been the subject of several analyst reports. Telsey Advisory Group reiterated an “outperform” rating and issued a $930.00 price objective on shares of Deckers Outdoor in a research note on Thursday, February 15th. KeyCorp initiated coverage on shares of Deckers Outdoor in a research note on Wednesday, February 7th. They issued an “overweight” rating and a $960.00 price objective for the company. Evercore ISI initiated coverage on shares of Deckers Outdoor in a research note on Thursday, February 15th. They issued an “outperform” rating and a $960.00 price objective for the company. Raymond James lifted their price objective on shares of Deckers Outdoor from $585.00 to $845.00 and gave the stock an “outperform” rating in a research note on Tuesday, January 30th. Finally, Stifel Nicolaus boosted their target price on shares of Deckers Outdoor from $709.00 to $775.00 and gave the company a “hold” rating in a research report on Friday, February 2nd. Six research analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $890.93.

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