Sunpointe LLC Makes New Investment in Deckers Outdoor Co. (NYSE:DECK)

Sunpointe LLC purchased a new position in shares of Deckers Outdoor Co. (NYSE:DECK) during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 1,317 shares of the textile maker’s stock, valued at approximately $267,000.

Other institutional investors have also recently added to or reduced their stakes in the company. AMF Tjanstepension AB lifted its stake in shares of Deckers Outdoor by 495.7% in the 3rd quarter. AMF Tjanstepension AB now owns 952,803 shares of the textile maker’s stock worth $151,924,000 after acquiring an additional 792,849 shares during the period. Creative Planning lifted its position in Deckers Outdoor by 492.5% in the third quarter. Creative Planning now owns 30,093 shares of the textile maker’s stock worth $4,798,000 after purchasing an additional 25,014 shares during the period. Bleakley Financial Group LLC increased its position in shares of Deckers Outdoor by 549.5% during the 3rd quarter. Bleakley Financial Group LLC now owns 1,390 shares of the textile maker’s stock valued at $222,000 after purchasing an additional 1,176 shares during the period. Blue Trust Inc. raised its stake in shares of Deckers Outdoor by 56.6% in the 3rd quarter. Blue Trust Inc. now owns 736 shares of the textile maker’s stock worth $117,000 after buying an additional 266 shares in the last quarter. Finally, Raymond James & Associates lifted its holdings in shares of Deckers Outdoor by 546.4% in the third quarter. Raymond James & Associates now owns 123,218 shares of the textile maker’s stock valued at $19,647,000 after buying an additional 104,155 shares during the period. 97.79% of the stock is currently owned by institutional investors.

Deckers Outdoor Price Performance

Shares of Deckers Outdoor stock opened at $152.52 on Thursday. The stock has a 50-day simple moving average of $196.19 and a 200-day simple moving average of $149.35. Deckers Outdoor Co. has a 52-week low of $131.39 and a 52-week high of $223.98. The firm has a market cap of $23.15 billion, a price-to-earnings ratio of 24.73, a P/E/G ratio of 1.74 and a beta of 1.07.

Deckers Outdoor (NYSE:DECK) last posted its earnings results on Thursday, February 6th. The textile maker reported $3.00 EPS for the quarter, topping the consensus estimate of $2.44 by $0.56. Deckers Outdoor had a net margin of 19.14% and a return on equity of 41.71%. As a group, equities research analysts predict that Deckers Outdoor Co. will post 5.89 earnings per share for the current year.

Insider Buying and Selling at Deckers Outdoor

In related news, CEO Caroti Stefano sold 14,274 shares of the firm’s stock in a transaction on Wednesday, December 11th. The shares were sold at an average price of $208.34, for a total value of $2,973,845.16. Following the transaction, the chief executive officer now directly owns 259,266 shares in the company, valued at approximately $54,015,478.44. This trade represents a 5.22 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, Director Bonita C. Stewart sold 4,500 shares of Deckers Outdoor stock in a transaction dated Friday, November 22nd. The stock was sold at an average price of $186.43, for a total value of $838,935.00. Following the completion of the transaction, the director now owns 40,733 shares in the company, valued at $7,593,853.19. The trade was a 9.95 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 22,956 shares of company stock worth $4,596,741 over the last three months. Corporate insiders own 0.40% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on DECK. Truist Financial cut their price target on shares of Deckers Outdoor from $235.00 to $225.00 and set a “buy” rating for the company in a report on Friday, January 31st. Robert W. Baird increased their target price on shares of Deckers Outdoor from $195.00 to $225.00 and gave the company an “outperform” rating in a research note on Friday, December 6th. Needham & Company LLC restated a “buy” rating and issued a $246.00 price target on shares of Deckers Outdoor in a research report on Friday, January 31st. Barclays increased their price objective on Deckers Outdoor from $190.00 to $231.00 and gave the company an “overweight” rating in a research report on Friday, January 31st. Finally, Citigroup raised Deckers Outdoor from a “neutral” rating to a “buy” rating and set a $215.00 price target on the stock in a research note on Friday, February 7th. Nine equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. Based on data from MarketBeat, Deckers Outdoor has a consensus rating of “Moderate Buy” and a consensus price target of $197.41.

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.