Pictet Asset Management Holding SA Lowers Stake in Deckers Outdoor Corporation $DECK

Pictet Asset Management Holding SA reduced its position in Deckers Outdoor Corporation (NYSE:DECK) by 61.2% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 227,087 shares of the textile maker’s stock after selling 358,752 shares during the quarter. Pictet Asset Management Holding SA’s holdings in Deckers Outdoor were worth $23,542,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. James Investment Research Inc. lifted its stake in Deckers Outdoor by 17.9% in the fourth quarter. James Investment Research Inc. now owns 45,111 shares of the textile maker’s stock worth $4,677,000 after purchasing an additional 6,858 shares during the last quarter. State of Michigan Retirement System boosted its position in Deckers Outdoor by 4.7% during the fourth quarter. State of Michigan Retirement System now owns 50,900 shares of the textile maker’s stock valued at $5,277,000 after buying an additional 2,300 shares during the period. Sanctuary Advisors LLC grew its stake in shares of Deckers Outdoor by 81.8% during the fourth quarter. Sanctuary Advisors LLC now owns 8,857 shares of the textile maker’s stock valued at $918,000 after buying an additional 3,986 shares during the last quarter. Mattern Capital Management LLC increased its holdings in shares of Deckers Outdoor by 3.1% in the fourth quarter. Mattern Capital Management LLC now owns 17,072 shares of the textile maker’s stock worth $1,770,000 after buying an additional 518 shares during the period. Finally, Resonant Capital Advisors LLC increased its holdings in shares of Deckers Outdoor by 32.8% in the fourth quarter. Resonant Capital Advisors LLC now owns 4,112 shares of the textile maker’s stock worth $426,000 after buying an additional 1,015 shares during the period. 97.79% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Deckers Outdoor

In related news, Director Lauri M. Shanahan sold 4,682 shares of the stock in a transaction dated Friday, February 13th. The shares were sold at an average price of $114.84, for a total transaction of $537,680.88. Following the sale, the director directly owned 25,026 shares of the company’s stock, valued at approximately $2,873,985.84. This represents a 15.76% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Anne Spangenberg sold 4,063 shares of the stock in a transaction that occurred on Friday, February 13th. The shares were sold at an average price of $116.02, for a total transaction of $471,389.26. Following the sale, the insider owned 80,449 shares in the company, valued at approximately $9,333,692.98. The trade was a 4.81% decrease in their position. The SEC filing for this sale provides additional information. Over the last three months, insiders have sold 9,092 shares of company stock valued at $1,048,552. Insiders own 0.40% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have weighed in on the company. Barclays reiterated an “overweight” rating and issued a $143.00 price objective (up from $113.00) on shares of Deckers Outdoor in a research report on Friday, January 30th. Sanford C. Bernstein set a $90.00 target price on shares of Deckers Outdoor in a research note on Friday, January 30th. Stifel Nicolaus upped their price target on shares of Deckers Outdoor from $117.00 to $140.00 and gave the company a “buy” rating in a report on Friday, January 30th. Wells Fargo & Company set a $115.00 price target on shares of Deckers Outdoor and gave the company an “equal weight” rating in a research report on Wednesday, April 15th. Finally, The Goldman Sachs Group reissued a “sell” rating and issued a $92.00 price target (up from $81.00) on shares of Deckers Outdoor in a report on Friday, January 30th. One analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating, ten have assigned a Hold rating and three have issued a Sell rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $126.35.

Deckers Outdoor Stock Up 0.9%

DECK opened at $102.26 on Friday. Deckers Outdoor Corporation has a 52 week low of $78.91 and a 52 week high of $133.43. The stock has a market cap of $14.52 billion, a PE ratio of 14.44, a PEG ratio of 2.17 and a beta of 1.21. The business has a 50 day moving average of $106.10 and a 200-day moving average of $101.19.

Deckers Outdoor (NYSE:DECK) last posted its quarterly earnings data on Thursday, January 29th. The textile maker reported $3.33 EPS for the quarter, topping the consensus estimate of $2.77 by $0.56. Deckers Outdoor had a net margin of 19.46% and a return on equity of 41.60%. The business had revenue of $1.96 billion for the quarter, compared to analyst estimates of $1.87 billion. During the same quarter in the previous year, the firm posted $3.00 earnings per share. Deckers Outdoor’s quarterly revenue was up 7.1% on a year-over-year basis. Equities analysts anticipate that Deckers Outdoor Corporation will post 6.87 EPS for the current year.

Deckers Outdoor Profile

Deckers Outdoor Corporation is a global designer, marketer and distributor of footwear, apparel and accessories. The company’s product portfolio includes well?known brands such as UGG, HOKA, Teva, Sanuk and Koolaburra by UGG, spanning a range of lifestyle, performance and outdoor categories. Deckers leverages a blend of proprietary manufacturing, strategic brand storytelling and direct?to?consumer retail to serve both fashion?focused and performance?oriented customers.

Founded in 1973 by Doug Otto and Karl F.