Congress Asset Management Co. Lowers Holdings in Deckers Outdoor Co. (NYSE:DECK)

Congress Asset Management Co. trimmed its position in Deckers Outdoor Co. (NYSE:DECK) by 14.5% in the 4th quarter, Holdings Channel.com reports. The institutional investor owned 755,699 shares of the textile maker’s stock after selling 128,340 shares during the quarter. Deckers Outdoor makes up 1.0% of Congress Asset Management Co.’s portfolio, making the stock its 19th biggest position. Congress Asset Management Co.’s holdings in Deckers Outdoor were worth $153,475,000 at the end of the most recent reporting period.

Several other hedge funds have also made changes to their positions in the company. FMR LLC lifted its holdings in shares of Deckers Outdoor by 499.2% in the 3rd quarter. FMR LLC now owns 22,869,485 shares of the textile maker’s stock worth $3,646,539,000 after buying an additional 19,053,113 shares during the period. State Street Corp raised its position in shares of Deckers Outdoor by 513.8% in the 3rd quarter. State Street Corp now owns 6,584,305 shares of the textile maker’s stock worth $1,049,867,000 after acquiring an additional 5,511,513 shares in the last quarter. Geode Capital Management LLC raised its position in shares of Deckers Outdoor by 509.1% in the 3rd quarter. Geode Capital Management LLC now owns 4,059,919 shares of the textile maker’s stock worth $646,316,000 after acquiring an additional 3,393,420 shares in the last quarter. JPMorgan Chase & Co. raised its position in shares of Deckers Outdoor by 929.0% in the 3rd quarter. JPMorgan Chase & Co. now owns 1,296,894 shares of the textile maker’s stock worth $206,790,000 after acquiring an additional 1,170,855 shares in the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its position in shares of Deckers Outdoor by 529.0% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,277,355 shares of the textile maker’s stock worth $203,674,000 after acquiring an additional 1,074,263 shares in the last quarter. 97.79% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research analysts have recently commented on the company. Bank of America boosted their price target on Deckers Outdoor from $182.00 to $217.00 and gave the stock a “neutral” rating in a research report on Thursday, January 23rd. Stifel Nicolaus boosted their price target on Deckers Outdoor from $181.00 to $185.00 and gave the stock a “hold” rating in a research report on Friday, January 31st. Guggenheim reissued a “neutral” rating on shares of Deckers Outdoor in a research report on Friday, January 31st. Barclays upped their target price 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, Evercore ISI upped their target price on Deckers Outdoor from $195.00 to $235.00 and gave the company an “outperform” rating in a research report on Thursday, January 9th. Nine equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $197.41.

Deckers Outdoor Stock Performance

Deckers Outdoor stock opened at $155.01 on Friday. The business’s 50-day simple moving average is $199.09 and its two-hundred day simple moving average is $146.64. The company has a market cap of $23.53 billion, a PE ratio of 25.13, a PEG ratio of 1.93 and a beta of 1.07. Deckers Outdoor Co. has a fifty-two week low of $131.39 and a fifty-two week high of $223.98.

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

Insider Transactions at Deckers Outdoor

In other news, insider Thomas Garcia sold 18,000 shares of the company’s stock in a transaction dated Tuesday, November 19th. The stock was sold at an average price of $175.28, for a total value of $3,155,040.00. Following the sale, the insider now owns 63,642 shares in the company, valued at $11,155,169.76. This represents a 22.05 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Caroti Stefano sold 14,274 shares of the company’s stock in a transaction dated Wednesday, December 11th. The stock was sold at an average price of $208.34, for a total value of $2,973,845.16. Following the completion of the sale, the chief executive officer now owns 259,266 shares in the company, valued at $54,015,478.44. The trade was a 5.22 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 55,956 shares of company stock worth $10,387,731 over the last quarter. 0.40% of the stock is currently owned by insiders.

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.