Ocean Capital Management LLC Decreases Stock Position in Deckers Outdoor Co. (NYSE:DECK)

Ocean Capital Management LLC decreased its stake in shares of Deckers Outdoor Co. (NYSE:DECK) by 9.9% during the fourth quarter, HoldingsChannel.com reports. The firm owned 16,917 shares of the textile maker’s stock after selling 1,857 shares during the period. Deckers Outdoor accounts for 4.6% of Ocean Capital Management LLC’s portfolio, making the stock its 7th largest position. Ocean Capital Management LLC’s holdings in Deckers Outdoor were worth $11,308,000 at the end of the most recent reporting period.

Other hedge funds have also added to or reduced their stakes in the company. BlackRock Inc. grew its position in shares of Deckers Outdoor by 20.9% during the 2nd quarter. BlackRock Inc. now owns 2,951,309 shares of the textile maker’s stock valued at $1,557,288,000 after purchasing an additional 510,292 shares in the last quarter. Morgan Stanley boosted its stake in Deckers Outdoor by 82.6% during the third quarter. Morgan Stanley now owns 1,166,394 shares of the textile maker’s stock valued at $599,633,000 after buying an additional 527,546 shares during the period. State Street Corp grew its position in Deckers Outdoor by 15.0% during the second quarter. State Street Corp now owns 838,595 shares of the textile maker’s stock worth $442,493,000 after buying an additional 109,341 shares in the last quarter. Invesco Ltd. increased 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 acquiring an additional 37,194 shares during the last quarter. Finally, Wellington Management Group LLP raised its holdings in shares of Deckers Outdoor by 18.0% in the 1st quarter. Wellington Management Group LLP now owns 433,426 shares of the textile maker’s stock valued at $118,658,000 after acquiring an additional 66,072 shares in the last quarter. Hedge funds and other institutional investors own 97.79% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have recently commented on the company. Truist Financial boosted their price objective on Deckers Outdoor from $859.00 to $983.00 and gave the stock a “buy” rating in a report on Friday, February 2nd. UBS Group lifted their price objective on shares of Deckers Outdoor from $950.00 to $1,150.00 and gave the stock a “buy” rating in a report on Friday, February 2nd. Telsey Advisory Group reissued an “outperform” rating and issued a $930.00 target price on shares of Deckers Outdoor in a research note on Thursday, February 15th. Wedbush lifted their price target on Deckers Outdoor from $895.00 to $1,000.00 and gave the stock an “outperform” rating in a research note on Friday, March 15th. Finally, Wells Fargo & Company increased their price objective on Deckers Outdoor from $625.00 to $775.00 and gave the company an “equal weight” rating in a research report on Friday, February 2nd. Five investment analysts have rated the stock with a hold rating and ten have given a buy rating to the company. According to data from MarketBeat.com, Deckers Outdoor currently has a consensus rating of “Moderate Buy” and a consensus target price of $862.36.

Deckers Outdoor Stock Performance

Shares of DECK stock opened at $941.18 on Friday. The company has a market capitalization of $24.16 billion, a P/E ratio of 33.86, a PEG ratio of 1.84 and a beta of 1.01. Deckers Outdoor Co. has a fifty-two week low of $424.36 and a fifty-two week high of $956.17. The stock has a 50 day moving average price of $864.87 and a two-hundred day moving average price of $698.05.

Deckers Outdoor (NYSE:DECK) last posted its quarterly earnings results on Thursday, February 1st. The textile maker reported $15.11 EPS for the quarter, beating 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 company had revenue of $1.56 billion during the quarter, compared to analyst estimates of $1.45 billion. During the same period in the prior year, the business posted $10.48 EPS. The firm’s revenue was up 16.0% compared to the same quarter last year. As a group, equities analysts predict that Deckers Outdoor Co. will post 26.87 earnings per share for the current year.

Insider Activity at Deckers Outdoor

In other Deckers Outdoor news, CEO David Powers sold 17,978 shares of the business’s stock in a transaction on Tuesday, January 16th. The shares were sold at an average price of $716.52, for a total transaction of $12,881,596.56. Following the transaction, the chief executive officer now directly owns 98,218 shares of the company’s stock, valued at approximately $70,375,161.36. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other Deckers Outdoor news, CEO David Powers sold 17,978 shares of the firm’s stock in a transaction dated Tuesday, January 16th. The shares were sold at an average price of $716.52, for a total value of $12,881,596.56. Following the completion of the sale, the chief executive officer now directly owns 98,218 shares in the company, valued at $70,375,161.36. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Bonita C. Stewart sold 3,500 shares of the firm’s stock in a transaction that occurred on Thursday, February 22nd. The shares were sold at an average price of $871.11, for a total value of $3,048,885.00. Following the completion of the transaction, the director now owns 8,863 shares of the company’s stock, valued at approximately $7,720,647.93. The disclosure for this sale can be found here. Insiders have sold a total of 42,449 shares of company stock worth $34,172,388 in the last 90 days. Company insiders own 0.70% of the company’s stock.

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.