State Board of Administration of Florida Retirement System Trims Position in Deckers Outdoor Co. (NYSE:DECK)

State Board of Administration of Florida Retirement System cut its position in Deckers Outdoor Co. (NYSE:DECK) by 6.3% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 23,010 shares of the textile maker’s stock after selling 1,560 shares during the period. State Board of Administration of Florida Retirement System’s holdings in Deckers Outdoor were worth $10,344,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. EP Wealth Advisors LLC purchased a new stake in shares of Deckers Outdoor in the first quarter worth $700,000. JPMorgan Chase & Co. grew its stake in Deckers Outdoor by 12.6% during the first quarter. JPMorgan Chase & Co. now owns 135,816 shares of the textile maker’s stock valued at $61,056,000 after acquiring an additional 15,225 shares in the last quarter. B. Riley Wealth Advisors Inc. grew its stake in Deckers Outdoor by 11.0% during the first quarter. B. Riley Wealth Advisors Inc. now owns 910 shares of the textile maker’s stock valued at $409,000 after acquiring an additional 90 shares in the last quarter. Advisory Services Network LLC grew its stake in Deckers Outdoor by 10.1% during the first quarter. Advisory Services Network LLC now owns 448 shares of the textile maker’s stock valued at $201,000 after acquiring an additional 41 shares in the last quarter. Finally, Rockefeller Capital Management L.P. grew its stake in Deckers Outdoor by 98.2% during the first quarter. Rockefeller Capital Management L.P. now owns 3,526 shares of the textile maker’s stock valued at $1,585,000 after acquiring an additional 1,747 shares in the last quarter. 95.69% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Deckers Outdoor

In related news, insider Thomas Garcia sold 3,595 shares of Deckers Outdoor 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 completion of the sale, the insider now owns 16,457 shares in the company, valued at approximately $8,503,825.61. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.70% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

DECK has been the subject of several research analyst reports. UBS Group raised their target price on shares of Deckers Outdoor from $715.00 to $720.00 and gave the company a “buy” rating in a research note on Friday, July 28th. Raymond James initiated coverage on shares of Deckers Outdoor in a research note on Tuesday, June 13th. They issued an “outperform” rating and a $565.00 price objective for the company. Wells Fargo & Company lifted their price objective on shares of Deckers Outdoor from $425.00 to $480.00 in a research note on Friday, May 26th. Wedbush lifted their price objective on shares of Deckers Outdoor from $505.00 to $614.00 in a research note on Wednesday, July 26th. Finally, Citigroup lifted their price objective on shares of Deckers Outdoor from $515.00 to $665.00 and gave the stock a “buy” rating in a research note on Friday, July 21st. Two investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Deckers Outdoor presently has a consensus rating of “Moderate Buy” and a consensus price target of $577.64.

Deckers Outdoor Trading Down 2.6 %

Deckers Outdoor stock opened at $522.88 on Monday. The firm has a 50-day moving average price of $542.37 and a 200-day moving average price of $496.99. The firm has a market capitalization of $13.66 billion, a PE ratio of 25.95, a price-to-earnings-growth ratio of 1.34 and a beta of 0.92. Deckers Outdoor Co. has a 12-month low of $298.61 and a 12-month high of $568.47.

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

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.